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Sinopec to restructure convenience store assets in non-fuel push BEIJING/HONG KONG: Top Asian refiner Sinopec Corp said on Tuesday it plans to incorporate a company to hold its convenience store assets in a major push to boost non-fuel sales at its vast network of service stations.The oil giant will set up a retail company to hold 23,000 convenience stores and other related assets at its over 30,000 service stations across China, it said in a Chinese statement. The establishment of the retail company "marks a significant step taken by Sinopec to make its non-fuel business a more specialised and market-oriented operation", the statement said, adding that Sinopec had 23,000 convenience stores and sales of 13.3 billion yuan ($2.15 billion) in 2013. Copyright Reuters, 2014 ...

Brent oil to test support at $105.99 SINGAPORE: Brent oil is expected to test a support at $105.99 per barrel, a break below which will lead to a further loss to $105.25.The support is provided by the 61.8 percent Fibonacci projection level of a downward wave C which has been driving oil from the March 7 high of $109.09.Given that the support at the 38.2 percent projection level of $107.17 has triggered a decent rebound, the current support may cause another one ...
Oil prices mixed in Asia SINGAPORE: Oil prices were mixed in Asian trade Tuesday as investors kept a close eye on simmering international tensions over Crimea and awaited the outcome of a Federal Reserve monetary policy meeting.New York's main contract, West Texas Intermediate for April delivery, eased 24 cents to $97.84 in mid-morning trade while Brent North Sea crude gained 11 cents to $106.35 for its May contract."Market participants seem to be waiting for a clear picture of the possible ...
Indonesia crude output drops as haze hits Chevron's Sumatra wells JAKARTA: Indonesia's crude oil output has dropped to 790,000 barrels per day (bpd) after haze from forest fires on the island of Sumatra forced the country's biggest producer, Chevron, to close hundreds of its wells, the country's oil and gas regulator said. "It's still below 800,000 bpd, around 790,000 bpd," SKKMigas spokesman Handoyo Budi Santoso told Reuters on Monday, referring to the latest national crude output figure from Sunday.Santoso also said hundreds of Chevron employees ...
Crude prices up after Crimea referendum SINGAPORE: Oil prices rose in Asia Monday on increased geopolitical tensions, as the United States hinted at fresh sanctions against Moscow after Crimea voted in a referendum to break away from Ukraine and join Russia.The United States strongly rejected the vote on Sunday, saying it violated Ukraine's constitution and was carried out "under duress of Russian military intervention".New York's main contract, West Texas Intermediate for April delivery, was up 25 cents to $99.14 in afternoon ...
Crude prices up after Crimea referendum SINGAPORE: Oil prices rose in Asia Monday on increased geopolitical tensions as the United States hinted at fresh sanctions against Moscow after Crimea voted in a referendum to break away from Ukraine and join Russia.The United States strongly rejected the vote on Sunday, saying it violated Ukraine's constitution and was carried out "under duress of Russian military intervention".New York's main contract, West Texas Intermediate for April delivery, was up 23 cents to $99.12 in mid-morning ...
ONGC, Oil India complete $873mn stake buy in IOC NEW DELHI: India's state-run Oil and Natural Gas Corp and Oil India have completed purchase of a 10 percent stake in state refiner Indian Oil Corp for 53.4 billion rupees ($873 million), senior executives at the two companies said on Friday. Oil India Chairman Sunil Kumar Srivastava told Reuters that the company had completed the purchase of 5 percent stake at 26.70 billion rupees. A senior executive at ONGC, who did not want to be ...

 



 
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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