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Middle East crude Dubai linked grades under pressure SINGAPORE: Dubai-linked crude grades, such as Russian Sokol, came under pressure in Asia on Monday after the spread between the Middle East marker to Brent hit the narrowest in close to four years.Brent-Dubai Exchange of Futures for Swaps (EFS) for September was valued at $1.22 a barrel, down 58 cents from Friday's close and the narrowest since September 2010.The spread traded as low as $1.20 after Monday's settlement, a trader said.A comparatively stronger Dubai versus Brent has depressed the premium for Russian Sokol, which is priced on the Middle East marker. ONGC has sold a cargo of Sokol crude for Oct. 2-5 loading via a tender to Glencore at a premium below $5 a barrel to Dubai quotes, down from premiums between $5 and $7 a barrel for September barrels.Additional Russian ESPO supply also weighed. Russian oil firms have started marketing the three ESPO cargoes added last week to the ...

Japan's Hiroshima Gas to buy LNG from Osaka Gas TOKYO: Japan's Hiroshima Gas Co said it has agreed to buy 50,000 to 130,000 tonnes per year of liquefied natural gas (LNG) from Osaka Gas for about 15 years from 2016. The supplies will be delivered on an ex-ship basis via LNG vessels chartered by Osaka Gas, Hiroshima Gas said. Copyright Reuters, 2014 ...
Brent edges up to $105 but surplus oil still weighs on prices SINGAPORE: Brent crude rose to $105 a barrel on Monday to come off of a four-month low hit in the previous session, with worries about global oversupply still outweighing concerns about violence in the Middle East and North Africa. Forecasts for a supply glut in West African and European markets help to push the Brent benchmark down 3.3 percent last week, despite geopolitical tension in Iraq, Libya and Ukraine. Strong US economic data that signalled ...
India ONGC sales premium falls as tight supply eases SINGAPORE: India's Oil and Natural Gas Corp (ONGC) has sold a late August naphtha cargo at close to $23 a tonne above Middle East quotes on a free-on-board (FOB) basis, about 26 percent lower than two cargoes it sold recently, traders said on Monday. The 35,000-tonne cargo, scheduled for Aug. 23-24 loading from Hazira, was sold to Unipec on Aug. 1, coming at a time when tight supplies have eased and traders were seen with ...
Oil price up in Asian trade SINGAPORE: Oil prices rose in Asia Monday, but analysts said gains were capped following weakened demand caused by refinery shutdowns and easing concerns about armed conflicts around the world.US benchmark West Texas Intermediate for September delivery rose five cents to $97.93 while Brent for September gained 17 cents to $105.01 in late-morning trade. Singapore's United Overseas Bank said oil prices were pressured by multiple factors "including logistical issues in pipeline and refinery systems that weakened ...
Oil prices fall further in Asia SINGAPORE: Oil prices fell further in Asia Friday following a sell-off on Wall Street and concerns about unplanned refinery shutdowns in the US midwest, analysts said.US benchmark West Texas (WTI) Intermediate for September delivery eased 19 cents to $97.98 while Brent crude for September was down 13 cents to $105.89 in mid-morning trade. WTI fell $2.10 in New York trade and Brent declined 49 cents in London on Thursday."Oil prices are under pressure at the ...
Middle East crude Oman rises above Brent in thin trade SINGAPORE: DME Oman crude futures rose above ICE Brent in a rare move for the Middle East marker on Thursday, the last trading day of the month.Traders attributed the price volatility in Oman to thin trade volumes. The Middle East futures contract's premium against Dubai also soared.A flurry of trades took place on the Platts window as traders squared positions. A total 77 Dubai partials were traded and Unipec will deliver two Upper Zakum cargoes ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln