04292016Fri
Last update: Fri, 29 Apr 2016 06am

Asia

Markets - Energy - Asia

Oil prices rise on lower US rig numbers SINGAPORE: Oil prices edged up in Asia on Monday, recovering slightly from last week's decline, but analysts said traders would likely delay any big moves until next month's meeting of key producers.Hopes for an agreement between Russia, Saudi Arabia and other crude giants to at least freeze output sent both main contracts racing above $40 earlier this month, helped by a dive in the strength of the dollar.However, some of those gains were chipped away last week as talk of a possible US interest rate rate lifted the dollar -- making oil more expensive -- and a report showed another jump in US crude stockpiles.At around 0620 GMT US benchmark West Texas Intermediate was up 50 cents, or 1.27 percent, to $39.96. Brent was up 45 cents, or 1.11 percent, at $40.89.Members of the Organization of the Petroleum Exporting Countries (OPEC) and key non-members led by Russia are due to ...

Markets - Energy - Asia

Asia-Pacific Crude-Weakens as ESPO, NWS condensate premiums fall  SINGAPORE: The Asia-Pacific crude market weakened on Monday after Russian ESPO and Australia's North West Shelf (NWS) condensate premiums for May fell on ample supply.Woodside sold a May-loading NWS cargo to a Chinese end-user at about $3 a barrel above dated Brent, traders said, a more than $1 drop from the previous month, after naphtha cracks softened.Petroleum Brunei sold a Kimanis cargo loading on May 22-26 at $3.50-$3.90 a barrel above dated Brent, steady from ...

Markets - Energy - Asia

Vietnam's Q1 crude oil export volume seen down 19.8pc y/y HANOI: Vietnam's crude oil exports during January-March fell 19.8 percent from the same period last year to an estimated 1.76 million tonnes, or 142,000 barrels per day (bpd), the government said on Friday. Crude oil export revenues in the three-month period plunged 52.8 percent from a year ago to $446 million, the government's General Statistics Office said.Oil product imports rose 9.1 percent in the same period to an estimated 2.69 million tonnes, with the value ...

Markets - Energy - Asia

Inpex, Shell say yet to decide on onshore option for Indonesia LNG plant JAKARTA: Japanese oil firm Inpex Corp and Royal Dutch Shell said on Thursday they have yet to decide whether to invest in an Indonesian onshore LNG plant, which the president decided was a better option than their $15 billion offshore plan. President Joko Widodo on Wednesday rejected Inpex and Shell's proposal to build the world's largest floating liquefied natural gas (LNG) facility in the country's east, saying an onshore plant would benefit its economy more. ...

Markets - Energy - Asia

Asia Distillates-Crack persists below $10, stocks high in Singapore SINGAPORE: Asia's benchmark 500 ppm gasoil crack persisted below $10 a barrel for the fifth straight session, reflecting ample supplies although the glut has eased slightly on refinery maintenance and improved demand.Indian Oil Corp (IOC) was seeking up to 94,000 tonnes of diesel with 320 ppm sulphur and 40 ppm sulphur for April delivery to various Indian ports to plug a supply gap.The state-owned refiner had recently sought a total of 60,000 tonnes of diesel ...

Markets - Energy - Asia

Asia-Pacific Crude-Petronas offers first Kimanis condensate in 5 months  SINGAPORE: Asia-Pacific condensate weakened on Wednesday due to a rise in exports from Malaysia.Petronas has offered its first Kimanis condensate cargo for export in five months on lower domestic demand and as output of the super light oil could increase, industry sources said.The Malaysian state oil company offered a 250,000-barrel cargo loading on May 22-26, they said.The condensate is usually processed at a splitter in Kerteh, Malaysia, which has been shut for maintenance, the sources ...

Markets - Energy - Asia

Oil dips as market reacts calmly to Brussels attacks SINGAPORE: Oil prices eased Wednesday as traders reacted calmly to the Brussels attacks and kept their eye on global oversupply ahead of a crucial producers' meeting in Qatar next month.At around 0600 GMT, US benchmark West Texas Intermediate for May delivery was down 52 cents at $40.93 while Brent for May was 43 cents lower at $41.36."Oil prices are pulling back as the market reaction to the Brussels attacks was not as adverse as expected," ...