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Petronas in talks on further Canada LNG stake sale, Q1 profit dips KUALA LUMPUR: Malaysia's Petroliam Nasional (Petronas) is in talks with several companies to sell a 10-12 percent stake in its planned $11 billion Canadian liquefied natural gas (LNG) terminal, the state firm said on Wednesday, as it announced a fall in its first-quarter net profit. Net profit in the January to March period fell 8 percent to 16.2 billion ringgit ($5 billion) from 17.6 billion ringgit the previous year, Petronas said in a briefing, attributing the fall to higher operating expenses. It said revenues rose 9.5 percent from a year earlier to 84 billion ringgit on improved production and stronger trading of petroleum products. Petronas has been selling down its stake in the Canadian LNG export terminal in order to share the cost of bringing cheap energy to Asia. It took a major step towards its goal of selling 50 percent in April when it announced that China's Sinopec Group ...

India cuts Iran oil imports by 42pc in April from March NEW DELHI: India's oil imports from Iran in April declined 42 percent from the previous month, data obtained from trade sources and compiled by Thomson Reuters Oil Analytics showed. In the January-April period, India imported about 49.4 percent more oil from Iran than a year ago, as refiners stepped up purchases after the ease in sanctions against Tehran, the data showed. For a story see: The following table shows India's imports by country according to ...
China LNG demand a bright spot as producers weigh major investments SINGAPORE: China's imports of liquefied natural gas (LNG) are growing at a record pace as it aims to use cleaner fuels to cut smog in big cities, creating a powerful new source of demand that has the potential to reshape the market for the super-chilled gas. Rising Chinese demand gives LNG producers such as Chevron , Royal Dutch Shell, ExxonMobil and Total a crucial new sales avenue as they weigh whether to go ahead with ...
Oil prices up on hints of US crude exports SINGAPORE: Oil prices extended gains in Asian trade Wednesday following comments by a top US energy official that the world's biggest crude consumer is considering lifting a longstanding ban on exports. New York's main contract, West Texas Intermediate (WTI) for June delivery, was up 26 cents to $101.96 in mid-morning trade while Brent North Sea crude for June gained 11 cents to $109.35 per barrel.Oil prices were well-supported following "news that the US government is ...
China's April oil demand falls nearly 1pc from March to 7-month low BEIJING: China's implied oil demand fell 0.8 percent in April from the previous month to its lowest since September as refineries scaled back production for maintenance and continued to export surplus fuel to trim inventories as the nation's economy slowed. Chinese investment, retail sales and factory output growth all disappointed in April by hitting multi-year lows, suggesting the world's second-largest economy is still losing steam despite government efforts to shore up activity.China consumed roughly 9.71 ...
Oil prices mixed after rallying on Ukraine votes HONG KONG: Oil prices were mixed on Tuesday after rallying in the previous session in response to a vote in eastern Ukraine to break away from the country, fuelling fears of a civil war that could disrupt supplies.The US benchmark, West Texas Intermediate for delivery in June, added 16 cents to $100.75 a barrel, while Brent North Sea crude for June fell three cents to $108.38 a barrel.Prices jumped on Monday after pro-Russian separatists claimed ...
Brent steady above $108, Ukraine tensions support SINGAPORE: Brent crude held above $108 a barrel on Tuesday, supported by the threat of further European sanctions against Russia over Ukraine but with little impetus to move higher. The European Union imposed sanctions on a top aide to Russian President Vladimir Putin and the commander of Russian paratroopers as well as two confiscated Crimean energy companies, raising pressure on Moscow over its actions in Ukraine. "The market has a fairly high tolerance to what's ...

 



 
Index Closing Chg%
Arrow DJIA 17,164.95 1.45
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Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
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Arrow Sensex 29,182.95 1.68






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln