All
 

 

Just in:  

You are here: Home»Markets»Energy»Middle East & Africa

Middle East & Africa

Archive

Middle East Crude: Weakens; ESPO premiums slump SINGAPORE: The Middle East crude market softened on Tuesday, following a slump in Russian ESPO premiums on weak demand. Russian producer Surgutneftegas sold three ESPO cargoes for March loading via a tender to Shell. Two of the cargoes were priced at premiums below $5 to Dubai quotes, down from premiums between $6.2 and $6.9 fetched for cargoes sold last week. The March 23-27 cargo was priced at $6.40 while the March 19-23 and 26-30 cargoes were at $4.70 and $4.90 a barrel, respectively. "The $6.40 premium cargo was probably something Shell had wanted while they were trying their luck for the other two," a trader said. Cargoes loading in the second half of March had been expected to come under pressure as Asia's peak refinery maintenance season will commence in the second quarter, traders said. ESPO, like Murban, also faced competition from North Sea Forties which is heading to Asia, ...

Angola's onshore oil potential over 7 billion barrels: firm LUANDA: Angola has over seven billion barrels of oil potential in onshore blocks and production rights will soon go on sale, state-owed company Sonangol said Monday."The ten blocs that we will award have great potential, with on average 700 million barrels each," said Severino Cardoso, head of exploration at the firm."But that can increase with more exploration," he told a news conference after an information session with prospective investors.Earlier this month Sonangol announced ten new ...
Iraq oil exports dip in 2013: official data BAGHDAD: Iraq's oil exports in 2013 declined compared with the previous year, new figures showed on Wednesday, despite the country's efforts to dramatically ramp up crude sales to fund much-needed reconstruction.Exports in December recovered from multi-month lows earlier in the year, but were still below their peak, with overall exports and revenues for the year lower than similar figures for 2012, according to oil ministry data compiled by AFP.Overall, Iraq exported 72.6 million barrels of ...
Algeria sets new oil bids for August, winning contracts in Sept ALGIERS: Algeria will open bidding from foreign energy firms interested in its new oil and gas round on August 6, and winning companies will sign contracts on Sept. 5, the energy ministry said.The negotiations will be the first bidding under a new oil law passed in January last year, with 31 fields on offer. OPEC member Algeria hopes it can help reverse declining output after previous bids failed to bring in foreign investors."The competition perimeters ...
Some grades supported by Angolan Plutonio outage  LONDON: Some grades of Angolan crude oil for March export were supported on Friday, with a key grade out for the month, but overall differentials remained under pressure due to slack demand. There will be no cargoes of Plutonio crude oil for March loading due to maintenance at the field according to traders, which should give support to grades like Cabinda and Saxi which have a similar API. However more broadly, traders saw little scope ...
Tullow says finds more oil in Kenya NAIROBI: Fresh oil finds were announced Wednesday in Kenya's arid and under-developed north, further raising the prospect of a potential major boost to the country's economy, Tullow Oil said.Tullow, a British-listed company focused on Africa, said it had raised its estimate of resources there to over 600 million barrels after new discoveries at two onshore wells in northern Kenya."Exploration results to date... have proven that Tullow's onshore acreage in northern Kenya has the potential to ...
Kuwait says oil market balance takes precedence over price issue KUWAIT: Balance in global oil markets takes precedence over the crude price, Kuwait's new oil minister said on Sunday. Asked whether 100 dollars a barrel was a good price for oil, Ali al-Omair told reporters at a reception: "The issue of balance comes before the issue of price." Omair, who was appointed last week, said OPEC member Kuwait targets 3.5 million barrels per day capacity by 2015. Copyright Reuters, 2014 ...

 



 
Index Closing Chg%
Arrow DJIA 16,408.54 0.10
Arrow Nasdaq 4,095.52 0.23
Arrow S&P 1,864.85 0.14
Arrow FTSE 6,625.25 0.62
Arrow DAX 9,409.71 0.99
Arrow CAC-40 4,431.81 0.59
Arrow Nikkei 14,417.53 0.01
Arrow H.Seng 22,760.24 0.28
Arrow Sensex 22,628.84 1.58





where to buy

cheap wedding dresses

online - weddingdresstrend.com

Buy cheap Nike Mercurials cleats at mercurialscleats.com
cheap wedding dresses on SiteSteer.com - Best Online Wedding Store


Banking Review 2013


Buy direct from

China free shipping trade platform

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