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CNOOC issues exploration tender, includes South China Sea blocks BEIJING: State-run CNOOC Ltd, China's top offshore oil producer, has issued a tender inviting foreign firms to bid for oil and gas blocks in offshore areas, including the South and East China Sea, the company said. CNOOC will offer 33 offshore blocks, with a total area of 126,108 square kms (48,690 square miles), for foreign participation this year, the company said. Of the total, 25 blocks are in the South China Sea, four in the East China Sea and the rest in the Yellow Sea, it said. China issues offshore exploration tenders each year.The current batch is set relatively close to the Chinese border, according to details given by CNOOC. Relations between China and Japan, the world's second- and third-largest economies, have been troubled in recent years by a row over tiny, uninhabited islands in the East China Sea known as the Senkaku in Japan and the Diaoyu in China. ...

Middle East crude Saudi, Iraq price cuts weigh on other grades  SINGAPORE: DME Oman's discount to Dubai widened slightly in the Middle East crude market on Wednesday as deep price cuts from competing Gulf producers weighed on the grade.Traders expect the price cut for Saudi's Arab Medium to support the differential for similar grade Banoco Arab Medium and flip it into positive territory. Last month, October-loading Banoco AM had traded close to a discount of $1 to OSP.But downward pressure remained for Abu Dhabi and Qatari ...
Asia Pacific crude new supply may weigh; Petral buys Qua Iboe SINGAPORE: The Asia-Pacific crude market found some support from improving refining margins, but could be weighed down by new supply from Malaysia when trading for November cargoes kicks off later this month, traders said.Petronas plans to ramp up production at the offshore Gumusut-Kakap field this month, with first exports of the new Kimanis crude grade planned for November, two sources with knowledge of the matter said on Wednesday.Production of the new Kimanis crude grade may ...
Brent holds above $99, but demand worries linger TOKYO: Brent crude oil edged up to hold above $99 a barrel on Wednesday but was not far off a 16-month low hit the day before because of worries about global oil demand. Prices were supported by a larger-than-expected fall in US crude inventories, although gains were capped by a firmer US dollar, which makes commodities priced in the greenback more expensive for holders of other currencies. The dollar stood near a 14-month high against ...
Oil prices rise ahead of US stockpiles report SINGAPORE: Oil prices rose in Asia Wednesday as dealers awaited the latest US supply report for clues about demand in the world's top crude consumer, analysts said.US benchmark West Texas Intermediate for October rose four cents to $92.79 while Brent crude for October gained 19 cents to $99.35 in afternoon trade."The US stockpiles numbers out later today are in focus at the moment," David Lennox, resource analyst at Fat Prophets in Sydney, told AFP."It will ...
Brent edges up above $99, but demand worries linger TOKYO: Brent crude oil prices edged up to hold above $99 a barrel on Wednesday, but stood not far off a 16-month low hit a day earlier amid worries about global oil demand. Prices were supported by a larger-than-expected fall in US crude inventories, although gains were capped by a firmer US dollar, which makes commodities priced in the greenback more expensive for holders of other currencies. The dollar stood near a 14-month high against ...
US crude climbs towards $93 on inventory draw down SINGAPORE: US crude futures rose for the second straight session on Wednesday after data showed a larger than expected drawdown in crude inventories in the world's largest economy. But the climb was capped as the US dollar jumped to a 14-month high against the euro on Tuesday, with investors betting the Federal Reserve would hike interest rates earlier than expected. A stronger dollar makes commodities priced in the greenback more expensive for holders of other ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln