01172017Tue
Last update: Tue, 17 Jan 2017 10pm

Asia

Markets - Energy - Asia

Asia Distillates-Brisk gasoil deals; China exports down from record SINGAPORE: Asia's gasoil differentials were stable on Friday after rising in the previous session as Singapore's cash trade volumes remained brisk.A total of 900,000 barrels of gasoil of different grades were traded on Friday, bringing the month's total volumes transacted to almost 16 million barrels.This is one of the most actively traded months this year, with Winson Oil being a dominant buyer.But supplies were still ample with China's exports in October at nearly 1.4 million tonnes, official data showed.Although this was down from a record high of 1.6 million tonnes in September, the October volumes were more than 10 percent above the monthly average for the first nine months of this year and were more than double the monthly average for 2015.TENDERS: Pakistan State Oil (PSO) was looking to buy a total of 120,000 tonnes of gasoil with a 0.5 percent sulphur content for second-half December delivery in a tender ...

Markets - Energy - Asia

Azerbaijan expects 4.7pc drop in oil exports via BTC in 2017 BAKU: Azerbaijan expects a 4.7 percent drop in oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey next year to 31 million tonnes, a draft budget document obtained by Reuters showed on Friday. According to the document, oil exports through the BTC is expected to decline further to 30.9 million tonnes in 2018 and to be 31.9 million tonnes in 2019, 31.1 million tonnes in 2020. Azeri oil exports through the BTC totalled ...

Markets - Energy - Asia

Vietnam axes $538mn oil refinery project due to delays HANOI: Vietnam has decided to scrap a $538-million oil refinery project in the country's southern region after investors failed to start construction around eight years after they received the licence, a provincial government official said on Friday. The Mekong Delta-based Can Tho refinery, licensed in 2008 to process 2 million tonnes (40,200 barrels per day) of crude oil annually, has now been cancelled, Nguyen Van Hong, director of Can Tho city's Planning and Investment Department, ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Gasoline at 3-week high; Unipec eyes term deal SINGAPORE: Asia's naphtha crack rose marginally from a two-week low to a two-session high on Thursday to reach $76.68 a tonne, tracking gasoline's gains which were supported by demand.Naphtha fundamentals, unlike gasoline, were however showing signs of weakness as supplies were ample, traders said.India's Bharat Petroleum Corp Ltd (BPCL) for example, sold 33,000 tonnes of naphtha for Dec. 8-10 loading from Mumbai to Petro-Diamond at a premium of about $9 a tonne to Middle East ...

Markets - Energy - Asia

Oil prices static on uncertainty over planned production cut SINGAPORE: Oil prices were little changed on Thursday as uncertainty ahead of a planned OPEC-led crude production cut and thin liquidity due to the U.S. Thanksgiving holiday kept traders from making big new bets on markets.International Brent crude oil futures were trading at $49.00 at 0403 GMT, up 5 cents from their last close.U.S. West Texas Intermediate (WTI) crude futures were at $48.04 per barrel, up 8 cents from their last settlement.Traders said market activity ...

Markets - Energy - Asia

IEA expects oil investment to fall for third year in 2017 TOKYO: Investment in new oil production is likely to fall for a third year in 2017 as a global supply glut persists, stoking volatility in crude markets, the head of the International Energy Agency (IEA) said on Thursday."Our analysis shows we are entering a period of greater oil price volatility (partly) as a result of three years in a row of global oil investments in decline: in 2015, 2016 and most likely 2017," IEA director ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha down; petrochemical margins to hold firm SINGAPORE: Asia's naphtha crack for first-half January extended losses for the third straight day on Wednesday to reach a two-week low of $76.40 a tonne on expectations of more supplies becoming available.Traders said the market was disregarding Qatar's failure to restart a 146,000 barrels per day condensate splitter in mid-November, where the bulk of the oil product yield is naphtha.South Korea's Lotte Chemical bought a naphtha cargo for first-half January delivery to Yeosu at a ...