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LNG buyers should be wary of getting what they want LAUNCESTON: Asian buyers of liquefied natural gas may come to view the plunge in oil prices as a case of be careful what you wish for, as you may get it.For several years Asian LNG consumers have been keen to see an end to the long-standing practice of linking the price of the super-chilled fuel to crude oil, most often with a sliding scale referred to as a slope.The buyers have argued that this exposes them to rising crude oil prices that have little bearing on the price of extracting and chilling the gas. In other words, LNG producers have been gaining at the expense of consumers.This has been the case in recent years, given the steady rise in oil prices, with only a brief reversal in the wake of the 2008 global financial crises.But with Brent crude down some 60 percent since the middle of 2014, and the prospect ...

Oil prices rally loses steam in Asian trade SINGAPORE: Oil prices fell in Asia on Thursday after a bargain-buying rally the day before lost steam, with a pick-up in US inventories reinforcing reinforcing concerns about weak demand and a supply glut.US benchmark West Texas Intermediate (WTI) for delivery in February fell 37 cents to $48.11 in late-morning trade and Brent crude for February fell 56 cents to $48.13.Both contracts rose sharply on Wednesday -- WTI gained $2.59 and Brent advanced $2.10 -- as ...
Middle East Crude: March al-Shaheen sells at wider discounts SINGAPORE: The Middle East crude market came alive on Wednesday as trade for March-loading cargoes kicked off with al-Shaheen sold at wider discounts, weighed down by ample supply and lower demand in Asia. Cargoes sold prior to Tasweeq's tender loading in the first half of March were sold at $1.50-$2 a barrel below Dubai quotes versus discounts of $1 in the previous month, traders said. Discounts for cargoes lifting in the second half of the ...
Asia Fuel Oil: Cracks jump to new 2-1/2 year high SINGAPORE: Fuel oil cracks against Dubai crude rose for the second straight session to a new more than 2-1/2 year high on Wednesday, in line with higher deal levels for swaps amid a range-bound crude market.The 180-cst fuel oil crack, which measures the price difference between the heavy distillate and Dubai crude on a per barrel basis, stood at minus $2.83 a barrel on Wednesday, versus $3.41 a barrel the day before.The more negative the ...
Bangladesh aims to import only cleaner diesel from 2016 DHAKA: Bangladesh will lower the sulphur content of all its gasoil imports from January next year, in line with a global trend towards cleaner fuel, having moved in that direction from this month, energy officials said on Wednesday. The country will only import gasoil with 500 parts-per-million (ppm) sulphur from 2016 and will no longer take the 2,500 ppm grade, a senior official of the Bangladesh Petroleum Corp (BPC) told Reuters. The state-owned company, the ...
Asia Distillates: Gasoil, jet fuel cracks slip on supplies SINGAPORE: The Asian gasoil crack slipped 2.4 percent to $15.85 a barrel on Wednesday on the back of abundant supplies.The Asian jet fuel crack similarly eased by about 2 percent to $16.85 a barrel, with limited spot demand seen.Given falling crude prices, global airlines are preparing to hedge more jet fuel to fix prices as they bet a slide in crude oil to six-year lows may peter out near $40 a barrel.Brent crude traded near ...
Malaysia's Sona Petroleum scraps plans to buy stake in Salamander's Thai assets KUALA LUMPUR: Malaysian special-purpose acquisition company, Sona Petroleum Bhd, said on Wednesday it had scrapped plans to buy a stake in two oil and gas blocks from London-listed oil exploration and production firm Salamander Energy Plc in the Gulf of Thailand for $280 million.The termination follows London-listed Ophir Energy Plc's proposal to buy Salamander via a share swap. Under the swap, Salamander shareholders will be entitled to 0.6 Ophir share for one Salamander unit held.Despite ...

 



 
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Arrow DJIA 17,164.95 1.45
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln