12042016Sun
Last update: Sun, 04 Dec 2016 09pm

Asia

Markets - Energy - Asia

China April coal output down 11.0pc on year BEIJING: China produced 268 million tonnes of coal in April, down 11 percent on the year, the National Bureau of Statistics said on Saturday, with producers cutting back in a concerted effort to shore up prices. China's coal sector has been struggling with a massive capacity glut and miners have been encouraged to cut production to shore up domestic prices, which plummeted around 30 percent last year. The country has promised to shed 500 million tonnes of surplus capacity in the next five years.Coal output over the first four months reached 1.081 billion tonnes, down 6.8 percent from the same period last year, with full-year production on course to see its third consecutive annual decline.Though coal consumption normally rises in the second quarter, with supplies traditionally under intense pressure as power plants boost their reserves ahead of the summer peak, analysts do not foresee any jump in prices, particularly as ...

Markets - Energy - Asia

China April crude oil output lowest since July 2013 BEIJING: China, the world's fourth-largest oil producer, pumped 5.6 percent less crude year-on-year in April, official data showed, as oil firms struggled with cost pressures with crude prices hovering around $40 a barrel. Data from the National Bureau of Statistics released on Saturday showed China produced 16.59 million tonnes of crude oil last month, or about 4.04 million barrels per day (bpd), the lowest rate since July 2013 on a daily basis.A global oil supply ...

Markets - Energy - Asia

Middle East Crude-Shell buys Upper Zakum at higher premium SINGAPORE: The Middle East crude benchmarks rose on Friday, ending the week on a strong note after Shell bought an Upper Zakum cargo at a higher premium, traders said.Shell bid for a July-loading cargo during the MoC process and bought it from BP at 40 cents a barrel above its OSP, they added. The crude had traded at premiums of 25-35 cents a barrel prior to Shell's purchase.Cash Dubai and DME Oman both rose to ...

Markets - Energy - Asia

Asia Distillates-Gasoil extends premiums to 2016 high SINGAPORE: Cash differentials of benchmark 500ppm gasoil extended gains on Friday, climbing to a 2016 high, boosted by pockets of renewed regional demand and tightening supply over the near term, industry sources said.Cash premiums of the 500ppm gasoil rose 2 cents a barrel on Friday to 24 cents above Singapore quotes, its highest since Dec. 11. Since the start of the week gasoil premiums have risen from a discount of 4 cents below Singapore quotes. ...

Markets - Energy - Asia

Asia-Pacific Crude-Minas strengthens further SINGAPORE: Indonesian benchmark Minas crude strengthened further on Thursday as Glencore continued to bid for the grade, traders said.Minas' premium to dated Brent likely rose by about $1 a barrel from the previous session to about $3 following Glencore's bids that went as high as $50.80, they said.Brent's premium to Dubai swaps, or Brent-Dubai Exchange of Futures for Swaps (EFS), strengthened after traders hedged arbitrage cargoes from North Sea, traders said.The July EFS rose 20 ...

Markets - Energy - Asia

Azeri oil output down to 13.98mn T in Jan-April BAKU: Azerbaijan's oil output fell to 13.98 million tonnes in January-April, a source in Azerbaijan's government told Reuters on Thursday. Copyright Reuters, 2016 ...

Markets - Energy - Asia

Asia Distillates-Gasoil cash premiums jump to 2016 highs on Hin Leong trades SINGAPORE: Asia's gasoil cash differential for benchmark 500ppm grade rose to its highest level this year on Tuesday as deals in the Singapore market traded at firm premiums despite persistent concerns of ample supplies, traders said.Singapore-based trader Hin Leong picked up the only two offers for 500ppm gasoil made in the Platts window by Vitol and Unipec each at a premium of 40 cents a barrel above Singapore quotes, industry sources said. Together, both cargoes ...