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Middle East Crude-PetroChina purchases underpin Dubai SINGAPORE: Strong demand from PetroChina supported the cash Dubai price in the Middle East crude market on Wednesday.PetroChina snapped up 41 June Dubai partials from Shell and Unipec on the first day of trading. The deals led to the deliveries of two Upper Zakum cargoes to Chinaoil, a trader said.Trade was otherwise muted as industry players await monthly prices from Gulf producers which are mostly expected to raise them after most May-loading cargoes traded in premiums.Five of the six refiners and traders Reuters spoke to expect the official selling price (OSP) for flagship Arab Light crude to rise by at least 20 cents a barrel after Dubai strengthened in March."If they raise more than that, their grades would not look that attractive," a trader with a North Asian refiner said.Arab Extra Light could receive a boost from stronger naphtha cracks , although weaker fuel oil cracks in March are likely ...

Oil prices fall in Asian trade SINGAPORE: Oil prices fell in Asia on Wednesday after Russia and Iran's foreign ministers claimed a breakthrough in talks over Tehran's controversial nuclear programme that could ease sanctions on the crude producer. US benchmark West Texas Intermediate (WTI) for May delivery eased 27 cents to $47.33 while Brent crude for May fell 11 cents to $55.00 in late-morning trade. "The nuclear talks with Iran extended over the deadline. However, it seems to lean towards an ...
Middle East Crude-Dubai up on Shell's purchases SINGAPORE: Dubai cash prices in the Middle East crude market ended March on a strong note on Tuesday after Shell resumed purchases.Five cargoes - four Oman and one Dubai - will be delivered following a flurry of trades on the window, a trader said, which have strengthened the Dubai price and also narrowed the benchmark's intermonth contango spread.But Abu Dhabi light crude weakened after BP offered Das crude on RIM's window at 30 cents a ...
Oil extends losses as deadline for Iran nuclear deal looms SINGAPORE: Oil futures extended losses on Tuesday, as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal that could ease sanctions and allow more Iranian crude onto world markets.With a deadline less than 24 hours away, United States, Britain, France, Germany, Russia and China were trying to break an impasse in negotiations aimed at stopping Iran from having the capacity to develop a nuclear bomb, in exchange for ...
Asia-Pacific Crude-Arbitrage inflows may weigh SINGAPORE: Most May loading cargoes were committed in the Asia-Pacific crude market, although differentials could come under pressure from inflows of cheaper West African grades.Both Indonesia's Pertamina and Taiwan's CPC bought African grades in their import tender for sweet grades.Brent's narrowing premium to Dubai crude makes African oil more competitive relative to Middle East crude. Brent-Dubai Exchange of Futures for Swaps (EFS), or Brent's premium to Dubai swaps, narrowed 29 cents to $1.22 a barrel ...
India lowers April-Sept gas prices by 8pc: govt NEW DELHI: Locally produced gas in India will cost 8 percent less during April-September, the government said in a statement on Tuesday, due to a decline in global prices.India in November introduced a new gas-pricing formula and raised the local prices by a third. The formula links the prices of locally produced gas with those in the United States, Canada, UK and Russia.Prices will be cut to $4.66 per million British thermal units (mmBtu) in ...
Oil prices edge lower as Iran nuclear deadline approaches SINGAPORE: Oil prices fell in Asia on Tuesday as dealers monitored last-ditch efforts between global powers and Iran to reach a deal on Tehran's nuclear programme and ease sanctions imposed on the crude producer. US benchmark West Texas Intermediate fell 67 cents to $48.01 while Brent eased 41 cents to $55.88 in afternoon trade.Singapore United Overseas Bank said prices "tumbled as hopes for a nuclear deal with Iran climbed".Foreign ministers of US-led major world powers ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln