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US crude prices strengthen on economic optimism PERTH: US oil futures inched up in Asian trading on Thursday as strong US economic data, signalling a recovery in the world's largest economy and supply worries spurred by tensions over Iran's nuclear programme supported oil prices. In London, Brent crude was flat on Thursday, pressured by a fragile economic recovery in Europe, which is lagging the United States and Asia. "I am still bullish about the oil price in the short-to-medium term with demand likely to be strong due to recent reports of strong US employment and retail sales data. Supply issues from Iran are also still lingering," Miguel Audencial, a trader with CMC Markets in Sydney, said. US April crude rose 31 cents to $105.75 a barrel by 0312 GMT, while in London ICE Brent crude for April delivery edged up 3 cents to $125 a barrel. The US Federal Reserve on Tuesday acknowledged the improved economic outlook ...

Australia MELBOURNE: Woodside Petroleum said it was considering selling a small stake in the huge Browse liquefied natural gas project in Australia, after receiving approaches from several firms. "In response to significant interest from a number of parties, Woodside is conducting a limited process to assess the potential sale of a minority portion of the company's equity in the development," the company said in a statement ot the stock exchange. The company put out the statement after The ...
Woodside shuts some oil production on cyclone forecast PERTH: Wooside Petroleum said on Wednesday it had shut oil production at its Vincent oil field off the coast of northwestern Australia due to a forecasted cyclone. A tropical low currently off the northwest coast will strenghten into a category two cyclone by Friday, according to Australia's Bureau of Meterology. Copyright Reuters, 2012 ...
Woodside: still backs James Price Point for Australia LNG        PERTH: Australia's Woodside Petroleum is still committed to developing the Browse LNG project at James Price Point, on the cost of northwest Australia, its chief executive Peter Coleman said. "James Price Point is clearly the main game for us," he told a conference call. Earlier Woodside warned it may need to delay a final investment decision on the huge Browse liquefied natural gas project by nearly a year to the first half of 2013. The warnings sparked further ...
Japanese in big Australian LNG buy     SYDNEY: Japanese firms have taken their biggest step into Australia's growing Liquefied Natural Gas (LNG) sector, with five major power companies signing a sales deal worth Aus$70 billion (US$71.8 billion). The Japanese utilities Tuesday committed to buying 4.0 million tonnes per annum (mtpa) of LNG from Australia's proposed Ichthys Project for 15 years, ahead of a final investment decision on the project, owner Inpex said. Inpex said the total volume of 8.4 million tonnes per annum of ...
BHP completes Petrohawk takeover      SYDNEY: Mining giant BHP Billiton said on Friday it had completed its US$12.1 billion takeover of the US-based Petrohawk Energy Corporation. The company, which posted a record-breaking financial year profit of US$23.6 billion this week, said the deal was sealed through a short-form merger under Delaware law. This was the final step of the acquisition process and follows the previously announced completion of the tender offer by BHP to acquire all outstanding Petrohawk common stock. BHP Billiton petroleum ...
BHP secures takeover of Petrohawk SYDNEY: Mining giant BHP Billiton said on Sunday it had secured its $12.1 billion takeover of US energy firm Petrohawk Energy Corp and hoped to legally formalise the tie-up "as promptly as practicable". BHP said it had acquired "and expects to promptly pay for" 97.4 percent of Petrohawk's outstanding shares in a deal worth $15.1 billion, including the energy company's debt. "As the final step of the acquisition process and following payment for all shares... BHP Billiton ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln