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Oil prices mixed in Asia, US crude near six-year lows SINGAPORE: US crude fell to near six-year lows in Asia on Tuesday, extending losses in New York as worries about a global oversupply were exacerbated amid an OPEC warning of a continued petroleum glut, analysts said.US benchmark West Texas Intermediate (WTI) was down 21 cents to $43.67 in afternoon trade, the lowest since March 2009.Brent crude rose three cents to $53.97.Both contracts fell sharply on Monday after a report by the OPEC oil cartel that questioned the strength of last month's rally, saying the increase in prices came "despite the fact that global supply continued to exceed demand". Singapore's United Overseas Bank said the recent price decline was due to "concerns that US crude supplies are at record levels and continue to build up".A Bloomberg News survey showed US crude stockpiles are expected to have increased by 3.3 million barrels to 452.2 million in the week ending March 13. The ...

Asia-Pacific Crude-Steady; tender results eyed SINGAPORE: The Asia-Pacific crude market held steady on Monday as traders awaited results of several tenders to gauge market direction for May-loading cargoes.Strong refining margins supported demand for April-loading cargoes, but spot differentials for May-loading cargoes were seen mostly unchanged as refiners enter the peak maintenance season.ConocoPhillips will close a tender on Tuesday to sell 600,000 barrels of Bayu Undan condensate due to load over May 18-24.The condensate market had been supported by strong naphtha ...
Middle East Crude-Al-Shaheen discounts narrow on firm demand  SINGAPORE: The Middle East crude market remained supported on Monday, with al-Shaheen traded at narrower discounts, reflecting firm demand in Asia.Tasweeq has sold two al-Shaheen cargoes via its monthly tender at $1.46 a barrel below Dubai quotes on average, traders said, against a discount of $1.60 in the previous month. The buyers were not immediately known.The discounts for the two cargoes were likely at opposite ends of the $1-$2 range. Discounts fetched for cargoes sold ...
Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Monday during more volatile trading as dealers fret over bulging global supplies and a strengthening US dollar, analysts said. US benchmark West Texas Intermediate (WTI) slipped 47 cents to $44.37 while Brent was down 46 cents at $54.21 in late-morning trade.WTI lost $2.21 and Brent plunged $2.41 on Friday after the International Energy Agency warned of US crude reserves reaching storage capacity with little sign of a slowdown in ...
Japan's JX, GDF Suez find new oil in UK North Sea TOKYO: JX Nippon Oil and Gas Exploration Corp said on Friday it had discovered new oil in the UK Central North Sea."The 22/16-6 (P1799 License) well on the Dalziel structure flowed at rates in excess of 8,000 barrels of oil equivalent per day," the company said in a statement. "The well is now being side-tracked to appraise the extent of this discovery." GDF SUEZ E&P UK Ltd is the operator with a 30 percent stake. ...
India's HPCL aims to restart fire-hit gasoline unit by Sat NEW DELHI: India's Hindustan Petroleum Corp aims to restart a catalytic reformer (CCR) gasoline-making unit by Saturday following a minor fire caused by a leak, its head of refineries B.K. Namdeo told Reuters. HPCL's 166,000 barrels-per-day (bpd) Vizag refinery in southern India has one CCR and an isomerisation unit.The plant also has two naphtha hydrotreaters (NHT), each attached to the gasoline-making units of fluid catalytic cracker (FCC) and the CCR."There was a minor fire in ...
Oil prices rebound in Asia SINGAPORE: Oil prices climbed in Asia Friday as news of a deal to end a strike at US refineries helped reverse losses that had been fuelled by another leap in US inventories.US benchmark West Texas Intermediate (WTI) rose 13 cents to $47.18 and Brent climbed 16 cents to $57.24 in afternoon trade.WTI sank $1.12 in New York and Brent tumbled 46 cents in London on Thursday after a government report showed surging US stockpiles, adding ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln