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Thailand's PTT says 2014 profit to be hit by weak oil prices BANGKOK: PTT PCL, Thailand's largest energy firm, warned that its 2014 net profit could be lower than the 94.65 billion baht ($2.9 billion) earned in 2013 due to sharply lower oil prices.State-controlled PTT group, which uses global oil prices as a benchmark for its products, faced a drop in selling prices, while its refinery business would post inventory losses, Wirat Uanarumit, chief financial officer, told reporters on Friday."Our bottom line this year is likely to be lower than a year earlier. The drop in global oil prices will lead to stock loss," Wirat said, without giving a specific forecast.The energy giant posted a nine-month net profit of 82.4 billion baht, up 5.3 percent from a year earlier. Its subsidiary PTT Exploration and Production PCL (PTTEP) contributed about 60 percent of the company's operating profit.PTT plans to invest about 330 billion baht during 2015-2019. Including all major subsidiaries and petrochemical and ...

Brent hits 5-1/2 year low of $63 on supply glut, demand woes BEIJING: Brent crude continued its march downwards on Friday, dropping to a 5-1/2-year low of $63 a barrel for a weekly loss of more than 8 percent, amid persistent concerns over a global supply glut and a bearish demand outlook. The Organization of Petroleum Exporting Countries (OPEC), which accounts for a third of global oil output, cut its 2015 demand forecast this week, to the lowest in more than a decade. "The recent bout of ...
Asia-Pacific Crude: High shipping costs support; Vityaz steady SINGAPORE: Differentials in the Asia-Pacific crude market were supported by high costs of shipping arbitrage cargoes to the region, but upside was limited by still weak demand when trading for February cargoes gains pace next week, traders said on Friday. Spot differentials for Russia's Vityaz grade held steady, after Sakhalin Energy sold two February-loading to customers in China at about $1.50 a barrel above Dubai quotes, a trader said. Last month, the light sweet grade ...
Middle East Crude: Brisk demand support spot differentials SINGAPORE: Spot differentials for February-loading cargoes in the Middle East crude market rose on Friday amid brisk demand after producers slashed official selling prices (OSP), traders said.The premium for Abu Dhabi's flagship Murban grade rose to 30-40 cents a barrel to its OSP, up from a premium of 22 cents earlier this week, traders said. The grade traded close to parity for January.Das Blend rose to a premium of 50-60 cents a barrel to its ...
China's power output decelerates for third month in Nov SHANGHAI: China's power generation, a bellwether for the country's economic activity, rose 0.6 percent in November from a year before, with the pace of growth decelerating for the third month as manufacturing activity slackened.However, total electricity output of 448.7 billion kilowatt hours (kWh) in November marks a 0.92 percent gain from the preceding month, thanks to higher heating demand.Total power generation in the first 11 months of 2014 rose 3.9 percent from a year ago ...
China implied oil demand up 3pc on refinery runs BEIJING: China's implied oil demand in November gained around 3 percent from October to the strongest in two months, as refinery runs in the world's top energy consumer hit the second-highest level of on record.China consumed roughly 10.3 million barrels per day (bpd) of oil last month, according to Reuters calculations based on preliminary government data, the third straight month to break 10 million and up about 3.3 percent versus a year earlier.Demand from China, ...
Middle East Crude-Robust demand lifts light grades SINGAPORE: Light grades in the Middle East crude market fetched stronger differentials for February than the previous month, buoyed by robust demand, traders said on Thursday.Japanese refiner Fuji Oil bought a Murban cargo via a tender at a premium of 22 cents a barrel to its OSP, traders said. The Abu Dhabi flagship crude traded at close to parity for January.TonenGeneral was heard to have bought a February Das cargo at about 30 cents a ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln