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China’s LNG imports rise to second highest on record ahead of heating season

China’s imports of liquefied natural gas (LNG) in October nearly doubled from the same month a year ago to the second highest on record, according to customs data, as companies boosted imports of the fuel ahead of the winter heating season. LNG imports rose 95.7 percent from a year earlier to 3.57 million tonnes, second only to a record 3.73 million tonnes in December, data from the General Administration of Customs showed on Thursday. The Chinese government’s aggressive campaign to heat millions of homes in the Beijing-Tianjin-Hebei region with natural ...

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Saudis Eye Oil Sales to World’s Biggest Plants Emerging in China

Saudi Arabia’s status as the biggest oil supplier to China has been usurped by Russia. OPEC’s biggest producer is now trying to regain ground in the world’s largest crude importer. State-run Saudi Arabian Oil Co., known as Aramco, is in supply talks with petrochemical conglomerates that are building some of the world’s biggest plants in China, said Mushabab Al-Qahtani, vice president of the marketing department at its Asia unit, without identifying the firms. He also sees the country expanding imports of sulfurous sour crude — the type typically pumped by ...

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Eastern Canadian producers to offer as many as 10 January crude cargoes: source

Producers operating off the coast of the eastern Canadian province of Newfoundland and Labrador will offer as many as 10 crude cargoes for January loading, a source with knowledge of the program said. Five cargoes of Hibernia crude plus one potential direct-to-market cargo are scheduled to load in January, compared with seven in December, the source said. The Hibernia project is co-owned by ExxonMobil (33.125%), Chevron (26.875%), Suncor (20%), Canada Hibernia Holding (8.5%), Murphy Oil (6.5%) and Statoil (5%). There will be two cargoes of Terra Nova available in January, ...

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Argentina wants more gas from Bolivia: Bolivian oil minister

Argentina has asked neighbor Bolivia for more gas supply, Bolivia’s Oil Minister said. Bolivia has demand for up to 30 million cubic meters of additional gas supply, Luis Alberto Sanchez Fernandez told reporters on the sidelines of a gas conference. The additional demand was mostly from Argentina, he said. Bolivia’s declining gas production is seen by analysts as an obstacle for boosting exports to key customers in Argentina and Brazil. The country signed $1.6 billion in gas deals on Tuesday aimed at boosting output. Source: Reuters (Reporting by Marianna Parraga; ...

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Putin says Russia to supply 1 mln T of grain to Sudan in 2017

Russia plans to supply up to 1 million tonnes of grain to Sudan this year, Russian President Vladimir Putin told his Sudanese counterpart, Omar Hassan al-Bashir at the start of their talks in Russian southern city of Sochi on Thursday. Russian wheat supplies to Sudan totalled 702,000 tonnes in January-August, the Kremlin said in materials prepared for the meeting. Source: Reuters (Reporting by Denis Pinchuk; writing by Maria Kiselyova; editing by Polina Devitt)

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Canada’s first LNG export to China on its way by container

British Columbia has sent its first shipment of liquefied natural gas to China, part of a pilot project to test the feasibility of small-scale LNG exports by container ship from the Pacific Coast province to global markets, FortisBC said on Wednesday. The relatively small shipment of 950 gigajoules of gas, roughly 17 tonnes of LNG, is from FortisBC’s Tilbury plant in the Vancouver suburb of Delta. It was marketed and shipped by Vancouver’s True North Energy Corporation and China’s CIMC Enric Holdings Ltd. Because the LNG is being transported by ...

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New China Star Sells First Russia Oil From $9 Billion Rosneft Deal

A Chinese firm that’s grown from a small local trader to a global deal-making juggernaut sold its first cargo of Russian crude after buying a $9 billion stake in Rosneft Oil Co. CEFC China Energy Co. sold a cargo of Sokol crude from the Sakhalin region for January loading, according to traders who asked not to be identified. It’s the first sale of oil that the company will get access to as part of the September Rosneft deal. Under the agreement, the Russian energy giant will supply the Shanghai-based firm ...

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Venezuela’s PDVSA in talks to supply gas to neighbors

Venezuelan state-run oil company PDVSA [PDVSA.UL] is in contract talks to export natural gas to neighbors Colombia, Trinidad and Tobago, and Aruba, a company official said on Wednesday. Gas sales could provide a welcome boost to energy revenues for a country suffering acute cash problems and in talks to restructure its debt. Venezuela, which is almost entirely dependent on crude exports, has seen income decline since oil prices crashed in 2014. Colombia used to export gas to Venezuela through a pipeline. That flow would be reversed if an agreement with ...

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Indian Oil Corp studies renewed Venezuelan crude purchases

Indian Oil Corp is considering buying Venezuelan crude for the first time in at least six years, in a move that could help the crisis-struck South American nation settle unpaid bills with another state-owned Indian energy firm. The OPEC-member’s economy has collapsed since crude prices plummeted in 2014 , forcing it to delay payments for oil services and fuel supplies. Venezuela depends on oil for more than 90 percent of its export revenues. Venezuela’s national oil company PDVSA has missed debt payments to ONGC Videsh, the foreign investment arm of ...

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Iran pushes to retain Asia oil buyers as possible U.S. sanctions loom

Iran is pushing to retain customers for its oil in Asia, hoping that price reductions will boost the appeal of its crude compared with other Middle Eastern supply even as the potential threat of further U.S. sanctions on the country looms. The National Iranian Oil Company has in the last few weeks offered spot cargoes, ranging from light to heavy grades, to its term buyers in Asia, after setting December prices at the lowest in years against comparable Saudi grades, three sources with knowledge of the matter said. The sources ...

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Gas substitution to support Middle East oil exports in 2018, research shows

Plans to substitute oil for gas in regional domestic markets may help support Middle East oil exports in 2018 despite an anticipated extension of OPEC cuts, according to a new outlook from BMI Research. So far in 2017, Saudi Arabia – the largest traditional direct crude burn market – has recorded the lowest use of crude oil in power generation for the last five years. According to BMI, progress with upcoming gas projects will further erode the need to burn crude domestically in the near future. The substitution of oil ...

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As energy revenue falls, Algeria struggles to cut import bill

Algeria is trying to cope with falling revenue from oil and gas by cutting imports, which deplete its shrinking supply of the hard currency needed to pay for products made abroad. It’s not having much luck. The key to its effort is requiring licenses to import a wide range of products. But the system for granting licenses is tangled in red tape, and by curbing imports of raw materials, it’s hobbling local production, business people say. “There are good signals from the government, but on the ground, there is no ...

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GSPC seeks second-half December LNG cargo via tender-trade

The Gujarat State Petroleum Corp launched a tender on Wednesday to buy a liquefied natural gas (LNG) cargo for delivery in the second half of December, trade sources said. Bids must be submitted on or before Nov. 23 and an award is to be made on Nov. 24, they said. Source: Reuters (Reporting by Oleg Vukmanovic, editing by Louise Heavens)

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Poland’s PGNiG signs first mid-term deal for LNG supplies from U.S.

Poland’s dominant gas firm PGNiG has signed its first mid-term deal for liquefied natural gas (LNG) deliveries from the United States, as part of a wider plan to cut its reliance on Russian supplies, it said. State-run PGNiG said that as part of the deal, signed with Centrica LNG Co. Ltd, it will receive nine LNG shipments in 2018-2022. The company has not revealed the volumes and prices agreed under the contract. The shipments will come from the Sabine Pass LNG export terminal in Louisiana in the United States and ...

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Japan to import 7,940 tonnes feed wheat and barley via tender

Japan’s Ministry of Agriculture said it would import 380 tonnes of feed-quality wheat, and 7,560 tonnes of barley for livestock use, via a simultaneous buy and sell (SBS) auction that closed late on Wednesday. The ministry had sought 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley to be loaded by Jan. 31, 2018 and arrive in Japan by Feb. 28 in the tender that is usually conducted weekly. It is seeking the same amounts for each grain to be loaded and shipped during the same period in ...

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