02142016Sun
Last update: Sun, 14 Feb 2016 09pm

Asia

Markets - Energy - Asia

Middle East Crude-Dubai gains on demand from Chinaoil, Gunvor  SINGAPORE: The Middle East crude benchmark Dubai gained on Tuesday on firm demand from Chinaoil and Gunvor.Dubai's discount to swaps narrowed about 10 cents after Chinaoil bought two Dubai partials from Unipec during the Platts MoC process, leading to the convergence of an Oman cargo. This is the fourth cargo Chinaoil bought this month.Gunvor also purchased a partial from Unipec.Russian crude premiums were steady to higher, buoyed by robust demand from North Asian refiners as high freight rates deterred purchases for faraway supplies.Sokol premiums rose after ExxonMobil sold the last available spot cargo loading in February at $6.10 a barrel above Dubai quotes to an unknown buyer, traders said.Spot premiums for ESPO held steady at just above $4 a barrel after Tenergy sold a cargo loading on Feb. 7-12 to an unknown buyer, they said.Rosneft will close on Tuesday a tender to sell two ESPO cargoes loading on Feb. 1-5 ...

Markets - Energy - Asia

Oil prices edge up as northern hemisphere moves into peak winter demand SINGAPORE: Oil prices edged away from multi-year lows on Tuesday as the northern hemisphere moves into the peak-demand winter season, but mild weather and ballooning supplies mean that prices are expected to remain generally low well into 2016.The global crude benchmark Brent was at $36.46 per barrel at 0213 GMT. That was over $2 above the 11-year low hit on Monday, although traders said the price jump was more related to a roll-over in contracts ...

Markets - Energy - Asia

Azeri oil exports down 1pc in Jan-Nov yr/yr: customs BAKU: Azerbaijan's oil exports edged down by 1 percent in January-November compared with the same year-ago period, driven by a decline in oil production, a source at the State Customs Committee said on Monday.Azerbaijan exported 29.9 million tonnes of oil in the first eleven months of this year down from 30.2 million tonnes in the same period of 2014, the source who declined to be identified, told Reuters.Exports of oil via Russia through the Baku-Novorossiisk ...

Markets - Energy - Asia

Middle East Crude-Chinaoil's purchases support Dubai SINGAPORE: The Middle East crude oil benchmarks Dubai and Oman firmed on Monday after Chinaoil resumed purchases.The trading arm of PetroChina bought four Dubai partials from Unipec and Reliance at $31.40 a barrel, or $1.53 a barrel below Dubai swaps, up 30 cents from the previous session.DME Oman's differential to Dubai also rose by more than 20 cents from Friday.Spot Basra crude differentials remained in premiums on limited supply.Taiwanese refiner Formosa Petrochemicals bought 2 million ...

Markets - Energy - Asia

LNG shippers brace for wave of consolidation as freight rates sink SINGAPORE: Shippers who ply the seas to deliver liquefied natural gas (LNG) in massive tankers are likely to face a wave of consolidation and asset sales, with freight rates plunging as a growing fleet clashes with tepid demand.Companies that manage to weather the shakeout in one of the key sectors in the global shipping industry should be in a prime position, however, to benefit from a string of new LNG projects expected to start trickling ...

Markets - Energy - Asia

Brent crude falls almost 2pc to 2004 low as market rout heads into Christmas SINGAPORE: Brent crude oil prices fell to levels last seen in 2004 on Monday, dropping below the lows hit during the 2008 financial crisis on renewed worries over a global oil glut, with production around the world remaining at or near record highs and new supplies looming from Iran and the United States.Brent futures fell almost 2 percent and as low as $36.17 per barrel trading around 0500 GMT, the weakest since 2004 and below ...

Markets - Energy - Asia

Brent crude falls almost 2pc to 2004 low as market rout heads into Christmas SINGAPORE: Brent crude oil prices fell to levels last seen in 2004 on Monday, dropping below the lows hit during the 2008 financial crisis on renewed worries over a global oil glut, with production around the world remaining at or near record highs and new supplies looming from Iran and the United States.Brent futures fell almost 2 percent and as low as $36.17 per barrel trading around 0500 GMT, the weakest since 2004 and below ...