Bureau Chief, Thailand, Myanmar & Indochina, Bangkok, Thailand, Singapore
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Mar 9, 2011

Oil over $100 pressures Asia to cut subsidies

SINGAPORE (Reuters) – High oil prices are straining the coffers of Asian governments, forcing them to contemplate rolling back fuel subsidies despite the political cost amid rampant food inflation, and even though the move risks hurting demand.

International benchmark oil prices have rallied to 2-1/2 year highs above $100 a barrel as revolt cut output from OPEC-member Libya and protests across the Middle East and North Africa threaten to disrupt more of the flow from the world’s top oil-producing region.

Nov 2, 2010

Saudi’s Naimi shifts up to $70-$90 price range

SINGAPORE (Reuters) – Top oil exporter Saudi Arabia on Monday shifted upwards from a price it has backed for around two years, saying oil at between $70 and $90 a barrel was comfortable for consumers.

Until now, Saudi Oil Minister Ali al-Naimi had said the ideal range for producers and consumers was $70-$80 a barrel, either side of the $75 identified by the kingdom in November 2008.

Nov 1, 2010

Saudi’s Naimi shifts price range up to $70-$90

SINGAPORE, Nov 1 (Reuters) – An oil price between $70 and
$90 a barrel is a comfortable range for consumers, Saudi Oil
Minister Ali al-Naimi said on Monday, marking a step up from his
earlier statements $70-to-$80 was ideal.

International benchmark U.S. crude CLc1 has been
rangebound for much of this year, but prices have rallied over
the last month, largely in response to a weak U.S. dollar.

Sep 13, 2010

Saudi’s Naimi, from office boy to top oil min

LONDON/SINGAPORE (Reuters) – Saudi Arabian Oil Minister Ali al-Naimi helped to calm a record price rally, halt a record crash and restore OPEC’s damaged credibility.

Repeated rumors the 75-year-old minister plans to retire from the top of the world’s most powerful oil ministry have so far proved unfounded.

Aug 13, 2010

Gold hits 4-week high on cloudy outlook

SINGAPORE (Reuters) – Gold touched a four-week high on Friday, extending gains from the previous day as investors bought the precious metal and shied away from riskier assets on concern about the health of the global economy.

Fresh U.S. data that would give further pointers to the health of the world’s largest economy could push gold even higher, after unemployment data on Thursday spurred safe-haven demand for gold and the dollar.

Jul 14, 2010

Sanctions tighten pressure on Iran’s oil industry

DUBAI (Reuters) – A new round of U.S. and European sanctions targets Iran’s dilapidated oil sector from top to bottom, making it even more difficult to maintain output capacity and domestic supplies of fuel.

The United States, seeking to halt Tehran’s nuclear enrichment activities, passed unilateral sanctions earlier this month that for the first time allow it to punish the U.S. operations of international firms who supply fuel to Iran.

Jul 8, 2010

Iran relies on friendly powers for fuel supplies

DUBAI (Reuters) – Iran is depending more on friendly powers in the international arena for fuel supplies after the U.S. passed far-reaching sanctions a week ago that aim to hinder Tehran’s fuel imports and deepen its international isolation.

The Islamic Republic is buying around half of its July gasoline imports from Turkey and the rest from Chinese sellers, oil traders said on Thursday, as most other suppliers have stopped selling due to the U.S. sanctions.

Jul 8, 2010

Iran buys gasoline from Turkey, Chinese sellers

DUBAI, July 8 (Reuters) – Iran is buying around half of its
gasoline imports from Turkey and the rest from Chinese sellers,
oil traders said on Thursday, as most other suppliers have
stopped selling due to U.S. sanctions.

Iran is depending more on those that support it in the
international arena for fuel supplies after U.S. President
Barack Obama signed into law far-reaching sanctions a week ago
that aim to hinder Tehran’s fuel imports and deepen its
international isolation.

Jun 23, 2010

UAE wants Shell for Shah after Conoco exit-sources

DUBAI, June 23 (Reuters) – The United Arab Emirates’ would
like Royal Dutch Shell (RDSa.L: Quote, Profile, Research) to step in as its partner at the
$10 billion Shah gas project after U.S. major ConocoPhillips
(COP.N: Quote, Profile, Research) withdrew, industry sources in the UAE said on Wednesday.

Agreeing terms would be the biggest issue in coaxing Shell
into taking on the project to produce sour gas in the UAE, the
world’s third-largest oil exporter, sources said.

Jun 20, 2010

Oman Oil Co eyes Oman oil, gas block as BG exits

MUSCAT/DUBAI, June 20 (Reuters) – State-run Oman Oil Company
(OOC) is in talks with Oman’s Ministry of Oil and Gas to take on
an exploration block ceded by Britain’s BG Group (BG.L: Quote, Profile, Research), a
senior Omani oil official said on Sunday.

Like most of its Gulf neighbours, Oman is short of the gas
it needs to meet rapidly rising demand for industry and power.
Across the region, governments have embarked on exploiting
unconventional gas reserves, such as Oman’s tight gas.

    • About Simon

      "Simon Webb is the bureau chief for Reuters in Thailand, Myanmar & Indochina and is based in Bangkok. Simon guides news coverage from five countries with top stories including the political unrest in Thailand and Myanmar's struggle to emerge from decades of dictatorship. Before taking on bureau chief responsibilities, Simon was Asia commodities editor based in Singapore. Members of his team were part of a group that won scoop of the year at Reuters' 2012 journalism awards for coverage of the impact of international sanctions on the flow of oil from Iran. Simon has previously worked in Dubai and London ..."
      Joined Reuters:
      English, Spanish
      Reuters C&E Journalist of the Year 2009
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