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Asia-Pacific Crude-Mixed; condensate stronger SINGAPORE: The Asia-Pacific crude market was mixed on Thursday, weighed by lower Chinese appetite while strong naphtha cracks buoyed demand for condensate.Spot differentials for condensate cargoes improved in line with strong naphtha cracks, even as Qatar would resume exports of low sulphur condensate (LSC) after maintenance.ConocoPhillips sold a May-loading cargo of Bayu Undan to an unknown buyer at a discount of $1.70-$2 a barrel against dated Brent, traders said, about $1 a barrel higher than last month.Differentials for Australia's Northwest Shelf (NWS) improved by roughly the same margin, after Chevron sold its cargo loading April 30-May 4 to SK Energy at stronger than $1 a barrel below dated Brent, one trader said. Neither of the deals could be independently verified.Russian Pacific grades came under pressure amid weaker appetite from Chinese refiners. Sakhalin Energy sold 730,000 barrels of Sakhalin Blend loading May 29-June 5 in a tender at $2.75 a barrel ...

Middle East Crude-Basra demand to rise on India's strategic storage  SINGAPORE: Iraqi Basra Light received a boost in the Middle East crude market on Thursday as India geared up to buy 8 million barrels of the medium sour grade to fill its first strategic petroleum reserves (SPR).India's oil ministry on Tuesday instructed state refiners Indian Oil Corp and Hindustan Petroleum Corp Ltd to each seek two very large crude carriers (VLCC) of Basra oil for arrival in May-June, two sources familiar with the matter said.The ...
Oil prices resume downtrend in Asia SINGAPORE: Another surge in US stockpiles pushed oil prices lower again on Thursday, giving up some of the big gains in New York that came after the Federal Reserve cooled the chances of an early summer interest rate hike.US benchmark West Texas Intermediate (WTI) for April delivery was down $1.11 to $43.55 while Brent crude for May tumbled 78 cents to $55.13 in afternoon trade.WTI gained $1.20 in US trade and Brent jumped $2.40 after ...
Asia-Pacific Crude-Higher supply, slower Chinese demand may weigh SINGAPORE: The Asia-Pacific crude market remained supported on Wednesday by robust refining margins, although increasing supply and slower Chinese demand could hurt.Malaysia plans to export six or seven cargoes of its new Kimanis grade in May, compared with six in April, while Vietnam's PV Oil may load an extra cargo of Chim Sao in end-May in addition to the three cargoes sold in a tender already, traders said.Petronas began showing May-loading cargoes of Labuan and ...
Middle East Crude-Das premium up on Shell's bid SINGAPORE: DME Oman's discount to Dubai widened in the Middle East crude market on Wednesday as trade for May-loading cargoes slowed, while traders eyed the results of a tender issued by a Taiwanese buyer for price direction.CPC Corp closed on Wednesday its monthly tender to buy sour grades for May arrival. The Taiwanese refiner became a big buyer of spot grades this year after it reduced term liftings ahead of an impending closure of one ...
Indonesia awards oil blocks to Shell, Petronas, Pertamina JAKARTA: Indonesia's state-owned Pertamina, Royal Dutch Shell, and Malaysia's Petronas were among the companies awarded Indonesian oil and gas blocks in its latest offering of exploration concessions, government officials said on Wednesday.In the tender round, Indonesia offered 13 conventional and three unconventional oil and gas blocks. It was not yet clear which blocks were awarded to the three major oil firms.Copyright Reuters, 2015 ...
Oil prices extend losses in Asia SINGAPORE: Oil prices extended their losses in Asia Wednesday to new six-year lows on expectations US crude stockpiles will rise further, in a market already awash with supplies, analysts said.US benchmark West Texas Intermediate for April delivery eased 83 cents to $42.63 in afternoon trade, the lowest level since March 2009.Brent crude for May fell 14 cents to $53.37 a barrel."We expect the US stockpiles to increase further and this will exacerbate the market's supply ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln