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Asia Fuel Oil: Fuel oil supported by Korean spot demand SINGAPORE: Asian cash premiums for fuel oil were supported by spot demand from South Korea on Monday, traders said, but new regulations could crimp Chinese import demand.Korea East-West Power Co sought a cargo for March on behalf of Ulsan Power Plant. Arbitrage cargoes from the west are expected to be lower in March compared with February.In the longer term, Chinese demand for fuel oil is expected to fall after new regulations on Monday allowed smaller refining firms to import crude oil.Independent oil refineries, known as "teapot refineries", have been importing lower-quality fuel oil for processing into gasoline and diesel, because they could not use crude oil as feedstock.To qualify under the new rules, firms must have at least one crude distillation unit with an annual processing capacity above 2 million tonnes, or 40,000 bpd, must consume no more than 66 kilograms of standard oil for every tonne they refine, and ...

Asia-Pacific Crude: High refining margins boost Sokol, supply may weigh SINGAPORE: The Asia-Pacific crude market was supported by robust demand from refiners boosting purchases to benefit from strong margins, although ample Malaysian and West African supply may weigh. India's ONGC sold 700,000 barrels of Sokol crude loading April 5-11 in a tender at $4.15 a barrel above the Oman/Dubai average, traders said. Last month, ONGC sold Sokol at a premium of $3-$3.20 a barrel, according to Reuters data. Six cargoes of Malaysia's Kimanis grade were ...
Petronas sets February crude price factor at $4.80/bbl SINGAPORE: Petronas has set the price factor for Malaysian Crude Oil (MCO) for February at $4.80 per barrel, down 50 cents from the previous month, the state oil firm said on Monday. Petronas introduced a new official selling price (OSP) for its crude based on a basket of Malaysian crude oil grades Labuan, Miri Light and Kikeh which came into effect in January 2014.Copyright Reuters, 2015 ...
Middle East Crude: Spot premiums supported SINGAPORE: The Middle East crude market remained supported on Monday amid solid demand from Asian refiners and concerns over weather-related delays in supply from Iraq.Maersk Oil sold heavy sour al-Shaheen at $0.80-$1 per barrel below Dubai quotes, traders said. Last month, the grade was sold at a discount of $2.64 a barrel on average in a tender by Tasweeq.On Friday, Tasweeq closed a tender to sell three cargoes of April-loading al-Shaheen.The United Arab Emirates' Upper ...
China's solar power capacity raises 60pc to 28 GW in 2014 BEIJING: China raised its total grid-connected solar power capacity to 28.05 gigawatts (GW) in 2014, up 60 percent on the year, and aims to raise the total by more than half this year, the country's energy regulator said.The figure is equivalent to about 2.1 percent of China's total power capacity of 1,360 GW at end 2014, according to National Energy Administration (NEA) figures, while wind power is about 7 percent of the total.The NEA said ...
Oil prices down in Asian trade SINGAPORE: Oil prices turned lower in Asia Monday, with analysts warning the market remains "fragile" after prices gave up earlier gains driven by optimism over falling US production.US benchmark West Texas Intermediate for March delivery fell 15 cents to $52.63 while Brent for April fell 19 cents to $61.33 in afternoon trade.Crude has been on a rollercoaster for the past two weeks after plunging about 60 percent to around $40 between June and late January ...
Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Monday with traders optimistic over falling US production, although they remain on edge as analysts warn of continued volatility.US benchmark West Texas Intermediate for March delivery gained 15 cents to $52.93 while Brent for April fell 27 cents to $61.25 in mid-morning trade. WTI jumped $1.57 and Brent crude gained $2.24 on Friday after data showed another drop in the number of oil rigs in operation in the ...


Index Closing Chg%
Arrow DJIA 18,135.72 0.21
Arrow Nasdaq 4,982.81 0.32
Arrow S&P 2,101.04 0.12
Arrow FTSE 6,961.14 0.6
Arrow DAX 11,504.01 1.00
Arrow CAC-40 4,963.51 0.94
Arrow Nikkei 18,751.84 0.26
Arrow H.Seng 24,193.04 1.11
Arrow Sensex 29,448.95 0.23

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln