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North Sea Ekofisk crude exports to be 240,000 bpd in Sept – source

Exports of North Sea crude stream Ekofisk will be 240,000 barrels per day in September, down slightly from 252,000 bpd in August, an industry source with direct knowledge said. The programme will have 12 cargoes of 600,000 barrels each compared with 13 cargoes in August. Ekofisk is one of the four North Sea grades, along with Forties, Brent and Oseberg, that make up the key dated Brent benchmark for global oil trading. Source: Reuters (Reporting By Julia Payne; Editing by Susan Fenton)

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German coal imports seen falling around 1 pct in 2017

Germany’s coal imports are likely to fall to 54.6 million tonnes in 2017 from 55.2 million in 2016, lobby group VDKi said on Thursday, citing competition from renewable energy. Three quarters of last year’s imports went to power utilities, a quarter to the steel sector and the remainder to heating providers. Hard coal and domestic brown coal are still the backbone of power generation in Europe’s biggest economy, but Germany is moving away from nuclear and fossil electricity to renewable energy. Steelmakers in the German WVS association reported 1.7 percent ...

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ClipperData Responds To Saudi Oil Minister Khalid Al-Falih’s Statement On Finding “Credible Export Data” To Backstop New OPEC Export Claims

ClipperData LLC, the global leader in real-time tracking of crude oil and petroleum product flows, today announced a no-cost trial of its Global Crude Oil Report to help serious market participants assess crude oil supplies at what could turn out to be a turning point for the oil market. At the St. Petersburg meeting of oil producers, Saudi Oil Minister Khalid Al-Falih’s said: “Exports have now become the key metric for financial markets, and we need to find a way to reconcile credible export data with production data in our ...

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Colombia receives second LNG shipment, to be used as power plant fuel

Colombia received its second-ever LNG shipment of 85,000 cu m in order to ensure an adequate supply of fuel for three power plants in the country’s coastal Caribbean area, according to the operators of the port and regasification facility where it was unloaded. A spokesman for Sociedad Portuario El Cavao (SPEC), the port near Cartagena, said the shipment was purchased by Calamari LNG, a Colombian entity representing the three plant. The seller was Vitol. SPEC did not provide any details on the port of origin. “Colombia has begun to appear ...

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Russia grain tax crackdown may hinder exports -traders

A crackdown on tax avoidance in Russia’s grain trade is causing uncertainty among shippers and could even be hindering exports at a time when profit margins are already thin and a large crop is imminent, traders said. Authorities in Russia, one of the world’s top wheat exporters, were estimated to be losing 65 billion roubles ($1.1 billion) a year in unpaid taxes on grain deals at a time when they are seeking to tackle a huge budget deficit. The tax issue involves buying and selling grain through a chain of ...

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Why record U.S. oil exports are poised for even more growth

U.S. refineries are producing more fuel than ever as they seek to meet rising demand – from overseas, rather than the drivers on nearby roadways. Last year, the U.S. became the world’s top net exporter of fuel, an outgrowth of booming domestic production since the shale oil revolution started in 2010. That’s a fundamental shift from the traditional U.S. role in global markets as a top importer and consumer. Net exports are on track to hit another record in 2017, making foreign fuel markets increasingly important for the future growth ...

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Angola LNG issues sell-tender for prompt early-August loading cargo

Angola LNG on Wednesday issued a fresh sell-tender for a single shipment loading on August 1-3, according to two market sources. The tender is calling for bids to be submitted by July 31, and will remain valid until August 2. The LNG cargo has some destination restrictions, with the project limiting cargoes shipped to the east of Suez no further than the port of Singapore, according to one market source. This would exclude all of North Asia’s terminals, including those in China, Taiwan, Japan and South Korea. Angola LNG was ...

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Algeria gas exports to reach 54 bcm in 2017 – Sonatrach chief

Algeria’s gas exports should reach 54 billion cubic metres (bcm) this year, up from 51 bcm in 2016, as the new Reggane and Touat fields come on stream, the chief of state-run energy company Sonatrach said. Sonatrach CEO Abdelmoumen Ould Kaddour told reporters on a visit to Hassi Rmel gasfield that it was going to be “very hard” to meet both growing domestic demand and export needs for clients, mainly European markets. “We do have a shortage of 50 million cubic metres per day that we need to find somewhere,” ...

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India’s first-quarter coal imports fall 8.1 percent

India’s coal imports fell 8.1 percent to 52.70 million tonnes in the first quarter of fiscal year 2018, Coal Minister Piyush Goyal told lawmakers on Thursday, as the world’s third largest consumer of coal looks to cut dependence on imports. Coal imports fell for the second straight year in 2017 to 191 tonnes, down 6.4 percent from 2016 levels, Goyal said, as state-run Coal India Ltd ramped up production to address domestic demand. “The gap between demand and supply of coal cannot be bridged completely as there is insufficient domestic ...

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Fortescue posts record iron ore exports in Apr-June

Australian iron ore miner Fortescue Metals Group saw record exports in the April-June quarter, which lifted its full 2016-2017 fiscal year (July-June) shipments marginally above guidance, the company said in its quarterly results Thursday. Fortescue said it expected shipments to hold steady for the 2017-2018 fiscal year, with further cost reductions. The June quarter shipments came in at 44.7 million wmt, up 3% year on year from 43.4 million wmt, and up 13% from 39.6 million wmt in January-March, it said. Its direct operating costs (C1 costs) fell to $12.16/wmt ...

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India: Crude import bill likely to rise 23% this fiscal, says oil ministry

India’s crude oil import bill is expected to increase 23% in the current fiscal year, according the Petroleum Planning Analysis Cell (PPAC), data and policy analysis wing of the oil ministry. “India’s crude oil import bill is expected to increase 23% from $70 billion in 2016-17 to $86 billion in 2017-18 considering Indian basket crude oil price of $55 a barrel and rupee-dollar exchange rate of 65 for the balance part of the financial year,” PPAC said in a report released on 24 July. According to PPAC, if crude prices ...

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Booming lead imports the surprise in China’s H1 metals trade: Andy Home

China’s appetite for imports of refined industrial metals was generally subdued in the first half of the year. Those of copper, for example, fell by 26 percent, or over 500,000 tonnes, relative to the first half of 2016. In part that was due to strong imports of both copper scrap and mine concentrates. Ample availability of both raw materials meant higher domestic production of refined copper and less demand for imported metal. A similar pattern played out in both the zinc and nickel sectors despite expectations that a lack of ...

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German business forum accuses U.S. of trying to stimulate energy exports

Plans for tighter U.S. sanctions against Russia could harm European companies with energy interests in their giant eastern neighbour and appeared designed to stimulate U.S. energy exports to Europe, a German business forum said on Thursday. At a Berlin press conference, the German Committee on East European Economic Relations said the possibility of European counter-sanctions against the U.S. should be kept open as “a very last option” if firms in Europe were affected. The committee, a fierce critic of the sanctions passed earlier this week by U.S. lawmakers, revised upward ...

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Japan’s Japex eyes spot, term LNG contracts as Pacific NorthWest falls through

Japan Petroleum Exploration Co., or Japex, would consider procuring LNG through spot or mid- to long-term contracts after Canada’s Pacific NorthWest LNG project in which Japex has a 10% stake fell through, a spokeswoman for Japex said. “We rather think that this has given us more choices,” said the spokeswoman, adding that the company could take advantage of low LNG prices. Japex was supposed to receive around one million mt/year of LNG from the Pacific NorthWest project and use that for its planned gas-fired power plant and also market to ...

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Russia’s AgMin expects approval to export grain stockpile in Sept

Russia’s Agriculture Ministry hopes to receive government permission to export some of its grain stockpile in September, it said in a proposal published on the government website www.regulation.gov.ru. The ministry has been considering exporting 500,000 tonnes of grain from its 4 million tonne stockpile to free up storage space and to lessen federal budget spending on servicing the stock, industry sources told Reuters in March. The sale of some of the stockpile requires permission from the government as current regulations do not allow the ministry to export grain from its ...

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