China Aviation Oil (Singapore) Corporation Ltd. (CAO), reported a net profit of 49.2 million U.S. dollars for the 12 months ended December 31, 2014 (FY2014), a 30 percent decrease from the previous year, the company said in a press conference on Thursday.
Oil prices slipped on Tuesday as the International Energy Agency (IEA) predicted that the oil prices would rebound partially in the next five years.
Russia would lose about 160 billion U.S. dollars in oil exports in a year if oil prices were at 45 dollars a barrel, Central Bank chief Elvira Nabiullina said Tuesday.
Russia would lose about 160 billion U.S. dollars in oil exports in a year if oil prices were at 45 dollars a barrel, Central Bank chief Elvira Nabiullina said Tuesday.
External shocks, including plunging oil prices, would cost the Russian economy 200 billion U.S. dollars, Finance Minister Anton Siluanov said Wednesday, warning that two sovereign wealth funds would be exhausted within the next two years if budget expenditures remain unchanged.
Yemen is on the brink of a real economic disaster after the Shiite Houthi group tightened its grip on power and the government was paralysed by years of political struggle since the 2011 upheaval, analysts said Wednesday.
News Analysis: Yemen on brink of economic disaster as crisis escalates
Oil prices gained Tuesday as the Organization of the Petroleum Exporting Countries (OPEC) warned that prices may jump to 200 dollars a barrel in future without sufficient investment in production.
As oil prices recently slid below the symbolic threshold of 50 U.S. dollars per barrel, the possible future scenario of the vital energy, which is more than just a fuel but also a maker and a wrecker of global wealth and growth, was naturally a subject of feverish discussions among elites gathering for the annual Davos meeting of the World Economic Forum (WEF).
With the price of crude oil remaining weak and the United States on firmer growth trajectory, the outlook of Asian economies is widely expected to improve this year, but analysts have said that challenges remain and growth may not be uniform across the region.
Oil prices rebounded Wednesday as traders bought the dip after prior day's heavy sell-off.
Following another disappointing year in 2014, the global economy is continuing its fragile and divergent recovery.
The downtrend in the price of crude oil in the world market would boost the economies of oil-importing countries in Asia, including the Philippines, Thailand and China, according to economic analysts.
China's finance and taxation authorities on Monday announced that consumption tax on oil products would be raised from Tuesday.
The White House said on Tuesday that President Barack Obama would veto the Keystone XL pipeline ( Phase IV) project if the Congress passed the controversial legislation, boding ill for relationships between the White House and Capitol Hill.
2014 is quite a year. The world economy has witnessed faltering growth in the euro area, plummeting oil prices, and flaring geopolitical tensions that posed unforeseen challenges to global recovery.
Canada's main stock market retreated Monday from a solid rally last week, as sharp selloffs in resource shares, triggered by oil and gold slump, weighed on investor sentiment ahead of the Christmas break.
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