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Last update: Thu, 11 Feb 2016 07am

Asia

Markets - Energy - Asia

Asia Distillates: Gasoil east-west spread widens allowing for arbitrage SINGAPORE: The Asia gasoil east-west spread widened on Monday, making it economically viable to ship cargoes from Asia and the Middle East to Europe, traders said.The EFS, or exchange of futures for swaps, fell to minus $21.33 a tonne, Reuters data showed. The arbitrage economics to ship cargoes west start to look workable when EFS is around minus $18 a tonne, though other factors such as shipping costs also play a part, traders said.Unipec continued a spree of buying jet fuel cargoes in Singapore, snapping up two cargoes on Monday after buying four cargoes on Friday, traders said.It is not clear where the Chinese trading company was planning to ship the cargoes to as China's exports of jet fuel are expected to increase this year, they added.Demand appeared out of the Philippines with Petron seeking a cargo for late February. It was not immediately clear why the refiner was seeking ...

Markets - Energy - Asia

Asia Fuel Oil: Fuel oil supported by Korean spot demand SINGAPORE: Asian cash premiums for fuel oil were supported by spot demand from South Korea on Monday, traders said, but new regulations could crimp Chinese import demand.Korea East-West Power Co sought a cargo for March on behalf of Ulsan Power Plant. Arbitrage cargoes from the west are expected to be lower in March compared with February.In the longer term, Chinese demand for fuel oil is expected to fall after new regulations on Monday allowed smaller ...

Markets - Energy - Asia

Asia-Pacific Crude: High refining margins boost Sokol, supply may weigh SINGAPORE: The Asia-Pacific crude market was supported by robust demand from refiners boosting purchases to benefit from strong margins, although ample Malaysian and West African supply may weigh. India's ONGC sold 700,000 barrels of Sokol crude loading April 5-11 in a tender at $4.15 a barrel above the Oman/Dubai average, traders said. Last month, ONGC sold Sokol at a premium of $3-$3.20 a barrel, according to Reuters data. Six cargoes of Malaysia's Kimanis grade were ...

Markets - Energy - Asia

Petronas sets February crude price factor at $4.80/bbl SINGAPORE: Petronas has set the price factor for Malaysian Crude Oil (MCO) for February at $4.80 per barrel, down 50 cents from the previous month, the state oil firm said on Monday. Petronas introduced a new official selling price (OSP) for its crude based on a basket of Malaysian crude oil grades Labuan, Miri Light and Kikeh which came into effect in January 2014.Copyright Reuters, 2015 ...

Markets - Energy - Asia

Middle East Crude: Spot premiums supported SINGAPORE: The Middle East crude market remained supported on Monday amid solid demand from Asian refiners and concerns over weather-related delays in supply from Iraq.Maersk Oil sold heavy sour al-Shaheen at $0.80-$1 per barrel below Dubai quotes, traders said. Last month, the grade was sold at a discount of $2.64 a barrel on average in a tender by Tasweeq.On Friday, Tasweeq closed a tender to sell three cargoes of April-loading al-Shaheen.The United Arab Emirates' Upper ...

Markets - Energy - Asia

China's solar power capacity raises 60pc to 28 GW in 2014 BEIJING: China raised its total grid-connected solar power capacity to 28.05 gigawatts (GW) in 2014, up 60 percent on the year, and aims to raise the total by more than half this year, the country's energy regulator said.The figure is equivalent to about 2.1 percent of China's total power capacity of 1,360 GW at end 2014, according to National Energy Administration (NEA) figures, while wind power is about 7 percent of the total.The NEA said ...

Markets - Energy - Asia

Oil prices down in Asian trade SINGAPORE: Oil prices turned lower in Asia Monday, with analysts warning the market remains "fragile" after prices gave up earlier gains driven by optimism over falling US production.US benchmark West Texas Intermediate for March delivery fell 15 cents to $52.63 while Brent for April fell 19 cents to $61.33 in afternoon trade.Crude has been on a rollercoaster for the past two weeks after plunging about 60 percent to around $40 between June and late January ...