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Nigeria LNG launches three-cargo sell tender – trade sources

Nigeria’s liquefied natural gas (LNG) export facility has launched a tender to sell three cargoes loading during June, trade sources said. Bids for the tender are due on June 1 and the specific cargo loading dates are June 14, June 20-June 30, and June 25-July 4, the trade sources said. Source: Reuters (Reporting by Oleg Vukmanovic; editing by David Clarke)

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China’s April wheat imports almost double on year to 603,013 mt

China’s wheat imports rose 99.4% year on year to 603,013 mt in April, after posting a 140% surge in March, customs data showed. Imports over January-April totaled 1.67 million mt, also almost doubling from the same period a year earlier. Traders said imported cargoes from the US and Australia were cheaper than domestic premium wheat prices in the period, while the country’s appetite for premium and specialty wheat was seeing strong growth from a rapidly expanding bakery and pastry sector. China’s domestic price of premium grade domestic wheat has averaged ...

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Chinese Ministry says Chinese exports have little impact on US steel industry

The Ministry of Commerce rejected US claims that China is behind the global steel overcapacity, saying its exports have little impact on the US steel industry. China understands that the United States is concerned about the closure of US steel companies and the resultant unemployment of blue-collar workers, but the root cause of this wave of global steel overcapacity is shrinking demand due to economic downturn since the global financial crisis, the MOC said in a research report on China-US economic and trade relations. The report said it is untenable ...

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Chile’s March coal imports down 21% on year as LNG gains ground

Chile imported 969,000 mt of coal in March, down 21% from the same month last year, Energy Ministry data showed. The monthly figure marked an increase of 6.9% from February. Chile’s suppliers in the month were Colombia (636,000 mt), Australia (241,000 mt) and the US (92,000 mt). Imports during the first three months of the year totaled 2.675 million mt, down 7.2% from a year earlier. The drop in imports comes amid slowing demand from the country’s coal-fired power plants. Coal-fired generation during the first three months of the year ...

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Syncrude oil sands project to further cut shipments in May and June -sources

The Syncrude Canada oil sands project in northern Alberta is further cutting shipments of synthetic crude to customers in May and June because of a leak at the plant, two market sources said. Syncrude will reduce May shipments by 100,000 barrels to 5.3 million barrels in total for the month, and June shipments by 1 million barrels to 6 million in total, the sources said. The cuts come on top of already reduced production forecasts for the facility in May and June as a result of maintenance work that was ...

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Venezuela Secretly Plotted to Sell Banned Syrian Oil to the U.S.

Syria and Venezuela plotted in recent years to evade international sanctions on Syria through a secret deal to transport its crude oil through Russia to the Caribbean. The previously undisclosed plan aimed to sell Syrian oil at a big discount to Venezuela through a Russian shell company, which would send it to Aruba for refining and distribution to gas stations in the U.S. and elsewhere, according to dozens of emails, documents and interviews. The scheme, which hasn’t been executed, indicates the extent to which the two pariah nations are willing ...

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Urals oil exports from Baltic ports to fall in June – loading plan

Russia’s June Urals crude exports from the Baltic Sea ports are expected to fall by 15 percent compared with May on a daily basis to 5.51 million tonnes, a preliminary loading plan seen by Reuters showed on Thursday. Crude loadings from the port of Primorsk were set to fall by 30 percent to 2.71 million tonnes due to planned works on Baltic pipeline system. Supplies from the neighbouring Ust-Luga port are set at 2.8 million tonnes, up 100,000 tonnes from the May loading plan. But traders said they expected additional ...

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Algerian natural gas flows to Italy dip on field maintenance, Europe offsets fall

Algerian gas flows to Italy dropped by 11 million cu, or 25%, to 32 million cu m, according to data from Platts Analytics’ Eclipse Energy, with the cause said to be maintenance at an unnamed Algerian gas field. Supplies from northwest Europe via the Passo Gries interconnection point rose by almost the same volume — some 13 million cu m — to offset the fall from Algeria, the data show. Deliveries to Italy via Passo Gries hit 37 million cu m on Wednesday, the highest level since mid-January. Italian imports ...

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As the U.S. Sends More Oil to World, OPEC Sends Less to U.S.

OPEC is finally making the move that could help complete a mission that it’s failed so far: shipping less oil to the U.S., according to Sanford C. Bernstein. Exports from the Organization of Petroleum Exporting Countries to America have declined by close to 1 million barrels a day since a peak at the end of March, Bernstein analysts including Neil Beveridge wrote in a May 25 report. The group, including top producer Saudi Arabia, understands that reducing cargoes to the U.S. is the top priority if it’s to reach the ...

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China’s record Apr crude influx from N America seen set to rise further

The rising crude stream from North America to China is expected to continue in May and June after it hit a record high of 905,070 mt or 217,820 b/d in April, market sources said Thursday. Shipments from the US and Canada totaled 768,002 mt and 137,068 mt respectively in April, up from just 30,383 mt from the US and zero from Canada a year earlier, data released Wednesday by the General Administration of Customs showed. The barrels from North America were lured by a narrow Dubai-WTI spread to make the ...

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Australian coal exports are bouncing back following disruptions caused by Cyclone Debbie

Australian coal exports are bouncing back, recovering from damage caused by Cyclone Debbie, which disrupted key supply routes in Queensland in late March and throughout most of April. This chart puts the recent weather-related slump, and subsequent recovery, into visual form. Source: Westpac From Westpac, it uses shipping data to estimate volumes for Australia’s key commodity exports. “Australian coal exports are continuing the recovery after the hit from cyclone Debbie,” says Robert Rennie, global head of market strategy at Westpac. “The current run rate for May is 31.5 million tonnes ...

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Iran gas export to EU in post-sanctions era

The sanctions on Iran were removed in January 2016, and that paved the ways for Iran’s gas flow to EU, but the country still faces with gas shortage itself. Dalga Khatinoglu, commentator on Iran’s energy issues and head of Iran news service at Trend Agency, told Istanbul-based Alsharg Forum think tank that Iran’s gross gas output reached 285bn m3 last year, about 9.3% more than in the previous fiscal year, and housing gas demand has increased from 91 billion m3 (cubic meters) to about 100 billion cubic meters. “Of course ...

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Iran’s steel exports to rise following Rouhani’s re-election

Following the re-election of Hassan Rouhani as Iranian president, the country’s industry, mines and trade minister Mohammad Nematzadeh announced that the government is targeting 15 million mt/year of steel exports during Iran’s sixth development plan to 2021, according to the Iranian Steel Producers Association. The current export trend implies that this target is achievable, and is expected to reach up to 8 million mt in the current Iranian year ending March 2018, he added. Some 5.53 million mt of semi-finished and finished steel products were exported by Iranian steel producers ...

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Iran: EU oversupplied, short-term gas export unprofitable

The EU’s gas market is now oversupplied and exporting Iranian gas to this market is not profitable now either through a pipeline or as LNG, Deputy Oil Minister for International Affairs and Commerce Amir Hossein Zamaninia told Trend on May 24. He stressed that regional markets are in Iran’s focus currently. “We should sell gas to global markets, but at this time Iran is not in this situation yet,” said Zamaninia. “As holder of the world’s largest gas reserves, Iran needs to develop gas production projects further.” “Recently, Iran and ...

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China’s rising aluminum exports add fuel to the trade fire

China exported 380,000 tonnes of aluminum in semi-fabricated form in April. It was the highest monthly total since November 2015 and brings the year-to-date tally to 1.33 million tonnes, up two percent on the same period of 2016. That may not sound like a lot of extra metal. But any increase risks fanning the flames of the trade tensions around China’s impact on the rest of the aluminum world. The United States has taken the lead in pushing back against growing Chinese dominance. The Obama administration initiated a formal complaint ...

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