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Brazil decree allows wheat imports from Russia

Brazil’s government on Wednesday published a decree laying out procedures importers will have to follow to be able to buy and unload Russian wheat in Brazil, a step aimed at improving trade ties with Moscow. The decree, which takes effect immediately, outlines the documents importers will have to submit to bring Russian wheat to be processed in Brazil, which had not been previously allowed. Russian grain traders have been searching for new markets after bumper harvests. Brazil also expects it will help lift a Russian ban on imports of certain ...

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North Sea oil deliveries halted in first force majeure in decades

Deliveries of crude oil through the Forties pipeline in the North Sea are under force majeure for the first time in decades and operator INEOS said on Thursday there was no timeline yet for repair work that could last several weeks. The 169-km pipeline, which carries around a quarter of all North Sea crude output and around a third of Britain’s total offshore gas production, has been closed since Monday, following the discovery of a small crack in part of the system onshore in Scotland. Force majeure, which suspends a ...

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India’s Nov Iran oil imports skid to lowest since Feb 2016 – trade data

India’s refiners imported nearly half as much crude oil from Iran in November as the month before, ship tracking data showed, cutting purchases to a 21-month low in protest at Tehran’s decision to award a giant gas field to a Russian company. India, the world’s No. 3 crude oil consumer, received about 266,000 barrels per day (bpd) of oil from Iran last month, a decline of 43 percent from October and 55 percent from a year ago, according to a review of tanker arrival data from trade sources and numbers ...

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Gas exports to the Netherlands from Britain via BBL possible from autumn 2019

The transportation of gas to the Netherlands from Britain through the BBL pipeline will be made possible for the first time from the autumn of 2019, operator BBL Company said on Thursday. Currently, gas can only physically be transported through the BBL from the Netherlands to Britain. However, through modifications to the pipeline network at the compressor station at Anna Paulowna and the gas terminal at Bacton, it will be possible to transport gas from Britain to the Netherlands from the autumn of 2019. “This will further strengthen trade between ...

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China issues 2018 export licences to 264 ferroalloy traders: ministry

China has issued export licences to 264 ferroalloy traders for 2018, out of a total of 281 applicant traders, the Ministry of Commerce said in a report on its website Wednesday. MOC said the export rights of 10 ferroalloy traders for 2018 are still awaiting approval, as the traders need to provide proof of export volumes and domestic sales in 2016-17. China requires ferroalloy exporters to have minimum annual ferrosilicon, ferromanganese and silicomanganese export volumes or export supply quantities of at least 3,000 mt in 2016, or domestic sales of ...

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Japan buys 147,696 tonnes of food wheat via tender

Japan’s Ministry of Agriculture bought a total of 147,696 tonnes of food-quality wheat from the United States, Canada and Australia in a regular tender that closed late on Thursday. Japan, the world’s sixth-biggest wheat importer, keeps a tight grip on imports of the country’s second most important staple after rice, and buys the majority of the grain for milling via tenders typically issued thrice a month. Details are as follows (in tonnes): COUNTRY TYPE QUANTITY U.S. Western White 16,286 * U.S. Hard Red Winter(Semi Hard) 17,850 * U.S. Hard Red ...

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First vessel heads for Maryland Cove Point LNG export facility

The first liquefied natural gas vessel was headed Thursday for Dominion Energy Inc’s Cove Point LNG export facility in Maryland, a Reuters interactive map showed, with the facility expected to enter service by the end of the year. Cove Point will be the second large LNG export terminal in the lower 48 U.S. states, after Cheniere Energy Inc’s Sabine Pass terminal in Louisiana, which exported its first cargo in February 2016. The vessel, the Maran Gas Delphi, which is currently entering the Chesapeake Bay, is expected to arrive at the ...

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Ruwais to supply distillate cargo to WAF, despite narrowing arbitrage

Ruwais is set to supply West Africa with a second distillates cargo in over two years, despite the strengthening Exchange of Futures for Swaps (EFS) that has narrowed arbitrage opportunities to the West. Flagship Lotus, a long-range vessel, has been fixed to carry a 60,000 mt cargo to the offshore West African trading hub, loading in Ruwais, UAE on December 20, according to shipping sources. The vessel charterer Mercuria was not available for comment. The complex refinery in Ruwais, owned by Takreer — ADNOC’s refining arm — is a major ...

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Gas exports from Total’s North Sea field halted until early January

Exports of natural gas from one of the North Sea’s key fields have been halted for at least three weeks until early January, after the closure of Britain’s largest oil and gas pipeline, field operator Total said on Wednesday. Swiss-based chemicals company INEOS, which owns the Forties Pipeline System, said on Wednesday it has not yet taken a decision on repairing a pipeling crack that materialised during a routine inspection of onshore infrastructure last week. The pipeline carries 450,000 barrels per day (bpd) of Forties crude oil, roughly equivalent to ...

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S.Korea’s KOMIPO buys coal via spot tender, cancels term tender

Korea Midland Power Co Ltd (KOMIPO) bought 70,000 tonnes of coal via a spot tender that closed on Monday, but passed on a term tender, a source from the utility said. KOMIPO purchased 70,000 tonnes of coal from Indonesia at around $85 per tonne on a cost and freight (CFR) basis, the source said. But the utility declined to buy 2.47 million tonnes per year of coal due to high prices via a five-year term tender that also closed on Monday, the source said, adding that the utility planned to ...

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Black Sea grain exports in the conditions of growing freight rates

The end of the current year features a rather sharp rise in freight rates. This affects the competitive position of grains from different regions depending on the end market. Regarding the Black Sea region, we cannot say that the freight rate increase considerably impacts the volume of grain exports there. Despite the jump of freight tariffs, grain exports remain at a high level for all of the destinations. Undoubtedly, Egypt is an important destination for Black Sea grain and remains its major buyer this season. In the first five months ...

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Algerian wheat purchase raises U.S. farmer hopes for exports

Falling prices have lured a big buyer to U.S.-grown, low-protein wheat, raising the prospect for farmers of more exports and the hope that the market for low-protein wheat may have reached its nadir. U.S. wheat prices have tumbled 60 percent since reaching a four-year high in 2012 as large harvests around the world have reduced export demand. Global wheat inventories are at record-high levels, due in part to heavy production from Russia. For the past two years, U.S. growers have also struggled with the quality of domestic harvests, putting high-protein ...

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Asia crude buyers turn to Russia, US on Forties shutdown

The closure of the North Sea Forties pipeline late Monday and a corresponding spike in the Brent-Dubai spread could prompt Asian sweet crude buyers to shift focus to Far East Russian and North American supplies as many light sweet oils priced against the European benchmark rapidly lose appeal to low sulfur grades linked to other global benchmarks including Dubai and WTI. – Brent-Dubai spikes to 18-month high – Asian demand for US crude to increase The Brent/Dubai Exchange of Futures for Swaps – a key indicator of Brent’s premium to ...

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Poland’s Lotos to take at least five oil shipments from U.S. in 2018

Poland’s second-biggest oil refiner Lotos signed an agreement to receive at least five crude oil shipments from the United States next year, it said in a statement. The state-run Lotos received its first U.S. oil earlier this year as part of a bigger plan to reduce reliance on Russian supplies. The company did not provide details of the new contract. Source: Reuters (Reporting by Agnieszka Barteczko; Editing by Edmund Blair)

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China to import 43% natural gas demand by 2040

China’s demand for natural gas will continue to soar toward 2040, outstripping domestic output by around 43 percent, according to an International Energy Agency (IEA) report published on Dec 12. ‘China’s annual gas production will more than double to 340 billion cubic meters in 2040, with shale gas a major contributor, but consumption is foreseen to grow even faster, reaching 600 billion cubic meters,’ said the China Special Report of the World Energy Outlook 2017. The report, launched in the southwestern Chinese city of Kunming, Yunnan province, said that by ...

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