01202017Fri
Last update: Fri, 20 Jan 2017 08pm

Asia

Markets - Energy - Asia

Asia-Pacific Crude-Pertamina offers prompt Banyu Urip  SINGAPORE: Asia-Pacific crude market softened on Monday after Pertamina offered a prompt cargo of Banyu Urip, adding to ample supplies.Pertamina will close on Tuesday a tender to sell 650,000 barrels of the crude for June loading, traders said, even as the market is trading July cargoes this month.Sweet crude supplies elsewhere remained abundant.Supply disruptions in Nigeria did not help ease the West African oil glut as June-loading cargoes are still unsold.Libya's crude production has also rebounded to above 300,000 barrels per day (bpd) after the Marsa al Hariga export terminal re-opened late last week, a spokesman for the Tripoli-based National Oil Corporation (NOC) said on Monday.Russia was China's largest crude oil supplier for a second month this year, customs data showed on Monday, with shipments in April surpassing imports from Saudi Arabia and hitting a record high as demand from independent refiners remained strong.Crude imports from Russia surged 52.4 percent ...

Markets - Energy - Asia

Boss of China solar firm Hanergy steps down after losing billions SHANGHAI: The controversial boss of Chinese solar energy firm Hanergy Thin Film Power Group -- once listed as China's richest man -- has stepped down as chairman and executive director, the company said, almost a year after its shares imploded.Li Hejun stepped down from Friday "for the reason of strengthening corporate governance", Hanergy said in a statement to the Hong Kong stock exchange, where its shares have been suspended since May last year after plunging ...

Markets - Energy - Asia

Oil prices dip after Iran says it won't freeze output SINGAPORE: Oil prices dipped in Asia Monday after Iran said it has no plans to join any output freeze by other major producers.The Organization of the Petroleum Exporting Countries -- of which Iran is a member -- is due to meet in Vienna on June 2, after talks in Doha in April involving OPEC members and other major producers such as Russia failed to reach a deal to cap production.Despite a recent rebound, world crude ...

Markets - Energy - Asia

China April diesel imports down 100pc on year BEIJING: China's diesel imports fell 100 percent in April from a year earlier to zero, customs data showed on Saturday. Gasoline imports fell 92.5 percent in April from a year earlier to 2,771 tonnes, while kerosene imports rose 84.7 percent on year to 410,000 tonnes, the data showed.Copyright Reuters, 2016 ...

Markets - Energy - Asia

India pays part of Iran oil dues ahead of Modi visit NEW DELHI: Indian refiners have cleared part of the $6.4 billion owed to Iran for crude oil imports in euros through Turkey's Halkbank, three sources privy to the payment said on Saturday. This is the first payment to Iran by India since the lifting of Western sanctions against the Persian Gulf nation earlier this year and comes just ahead of Prime Minister Narendra Modi's visit beginning on Sunday.State refiner Mangalore Refinery and Petrochemicals Ltd paid ...

Markets - Energy - Asia

Asia-Pacific Crude-July Vietnamese grades, NWS hold steady  SINGAPORE: Vietnamese grades held steady in the Asia-Pacific crude market on Thursday as ample supplies and strong Brent prices versus Dubai continued to weigh down spot differentials for regional grades.State oil marketer PV Oil sold Hai Thach loading between July and December to Gunvor at $2.10 a barrel above dated Brent, traders said, steady from the previous six months.Gunvor was also the buyer for January-June supplies, a trader said.Separately, PV Oil sold a 200,000-barrel Hai ...

Markets - Energy - Asia

Technip, FMC to merge into $13bn oil services firm PARIS: Oil and gas services companies Technip of France and the American FMC Technologies said Thursday they have agreed to merge, creating one of the world's top companies in a sector which has been battered by low oil prices."The companies will combine to create a global leader that will drive change by redefining the production and transformation of oil and gas," they said.The new company, called TechnipFMC, will be worth $13 billion (11.6 billion euros) ...