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Crude prices rise in Asian trade SINGAPORE: Oil prices rose in Asian trade Thursday after stockpiles declined at a key US trading hub, indicating stronger demand, and on news of a major pipeline expansion in the United States.New York's main contract, West Texas Intermediate (WTI) for April delivery, rose 38 cents to $100.75 in afternoon trade and Brent North Sea crude for May gained 30 cents to $106.15.The US Department of Energy (DoE) report showed supplies at the Cushing, Oklahoma trading hub fell by 200,000 barrels to 29.8 million.Inventories at Cushing are expected to further ease after a key pipeline expansion that will facilitate the distribution of supplies from the depot comes into operation in the next few months.Enterprise Products Partners announced it would more than double the capacity of its Seaway Pipeline to about 850,000 barrels per day by May or June.EPP operates the pipeline, a 50-50 joint venture with Enbridge Inc."An announcement in the ...

Seoul shares slip on Fed rate outlook, persistent foreign selling SEOUL: Seoul shares nudged lower on Thursday morning after US Federal Reserve Chair Janet Yellen suggested a rate hike might be implemented earlier than expected, prompting offshore investors to unwind risk. The Korea Composite Stock Price Index (Kospi) was down 0.7 percent at 1,924 points as of 0205 GMT after touching an intraday low of 1,920.79. Yellen said on Wednesday the Fed will probably end its bond-buying program this coming fall, and could start raising ...
China's Feb crude throughput up 3.7pc y/y BEIJING: China's refinery throughput rose 3.7 percent in February from a year earlier to 35.81 million tonnes, or 9.34 million barrels per day (bpd), the country's top planning body said. Crude output rose 1.4 percent to 16.04 million tonnes, or 4.18 million bpd last month, the National Development and Reform Commission said.The NDRC data often differs from data from China's National Bureau of Statistics. Total output of refined fuel rose 5.7 percent to 22.34 million ...
Crude prices rise in Asian trade SINGAPORE: Oil prices rose in Asian trade Thursday after stockpiles declined at a key US trading hub, indicating stronger demand, and on news of a major pipeline expansion in the United States.New York's main contract, West Texas Intermediate (WTI) for April delivery, rose 13 cents to $100.50 in mid-morning trade and Brent North Sea crude for May gained 29 cents to $106.14.The US Department of Energy (DoE) report showed supplies at the Cushing, Oklahoma trading ...
CNPC JV starts shale gas development in Sichuan BEIJING: A joint venture of China National Petroleum Corp (CNPC) and domestic companies has started drilling its first shale gas well in the southwest Sichuan province, CNPC said on Wednesday. Sichuan Changning Natural Gas Development Co last week started drilling the Changning H3-6 well in Changning block and is expected to finish drilling in 70 days.Sichuan Changning Natural Gas Development Co was founded in Dec 2013 by CNPC, Sichuan Energy Investment Co, Yibin State Assets ...
Crude prices ease in Asia SINGAPORE: Oil prices eased in Asian trade Wednesday as investors locked in profits after recent sharp gains while keeping a close eye on international tensions over Russia's absorption of Ukraine's Crimea region.New York's main contract, West Texas Intermediate (WTI) for April delivery, was down 25 cents to $99.45 in afternoon trade, and Brent North Sea crude dropped two cents to $106.77 for its May contract.WTI had jumped $1.62, or 1.7 percent, in US closing trade ...
Rosneft CEO: More sanctions would worsen Crimea situation TOKYO: Expanding sanctions over Russia's moves to annex Crimea would only make the situation worse, the head of state oil major Rosneft said at an event in Tokyo on Wednesday. Moscow's seizure of Crimea has caused the most serious East-West crisis since the end of the Cold War.The United States and the EU have imposed sanctions on a handful of officials from Russia and Ukraine accused of involvement in the action. Russian President Vladimir Putin ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln