SAUDIS OIL FOR JAPAN
REUTERS - Saudi Arabia, the world's top oil exporter, will supply full contractual volumes of crude to a North Asian refiner in January, unchanged from the previous month, a source with direct knowledge of the matter said on Monday.
The country supplied full contractual volumes of crude to at least three North Asian refiners for December loading. But it trimmed supplies to at least three Japanese buyers and one in South Korea by up to 10 percent across different Saudi crude grades for November loading as maintenance at oilfields reduced output.
State oil company Saudi Aramco last week raised prices for all crude oil grades to Asia in January.
It was not immediately clear if Aramco would keep supplies steady to other buyers in the region.
At least one North Asian refiner had not received its monthly allocation yet, a source familiar with the matter said, but added that Saudi Arabia was seen as willing to meet buyers' demand.
All sources declined to be identified as they were not authorised to speak with media.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.