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After six decades, U.S. set to turn natgas exporter amid LNG boom

The last time the United States was a net exporter of natural gas was in 1957, when Dwight Eisenhower was president. That should change in 2018 when the country is expected to become the world’s third-largest exporter of liquefied natural gas (LNG). By the end of next year, U.S. LNG export capacity in the lower 48 states will top 6 billion cubic feet per day (bcfd), or 8 percent of the country’s domestic consumption, up from zero at the beginning of 2016. Six bcfd of gas can fuel about 30 ...

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India turns net exporter of steel; cos look to raise capacity usage

The capacity utilisation of steel manufacturers is set to increase with strong export demand and signs of a revival in domestic sales. Steel companies such as Essar Steel and JSW Steel have already seen a sharp rise in steel production in the last two months. JSW Steel’s flat steel production increased by 31 per cent to 1.93 million tonnes (1.47 mt) in the last two months, while Essar Steel has also reported an increase in output. After a gap of three years, India turned a net exporter, aided by stiff ...

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Sonangol Trims May Crude Exports To Boost OPEC Compliance

Angola’s state-run Sonangol has taken two cargoes out of its planned May exports in a move to boost its compliance with an OPEC deal to curb production, an oil trader familiar with Angolan loading plans said. A revised loading program showed the country’s exports were now set at 1.61 million barrels per day (MMbbl/d) from 52 cargoes, down from 1.67 MMbbl/d from 54 cargoes initially. The source said the two cargo loadings removed and pushed into June were an end-month Dalia that was with Sonangol and a Cabinda that was ...

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Russian diesel exports from Primorsk seen at 1.274 mln T in April – trade

Russian exports of ultra-low sulphur diesel (ULSD) from the Baltic Sea port of Primorsk are expected to fall 0.4 percent on a daily basis to 1.274 million tonnes in April, down from 1.322 million tonnes planned for March, trading sources familiar with loading schedule said on Wednesday. Below is a table of expected ULSD exports from Primorsk in April (in tonnes): Apr 17 Mar 17 pct change m/m Primorsk ULSD exports total 1,274,000 1,322,000 -0.4 in which: Surgutneftegaz 484,000 498,000 0.4 Lukoil 120,000 110,000 12.7 Rosneft (incl. Ufa refineries) 360,000 ...

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U.S. crude shipments set to pick up as export window opens

U.S. crude exports are poised to pick up, analysts and traders said, as rising domestic production has pushed the discount for U.S. futures versus Europe’s Brent benchmark to its steepest since the United States lifted a ban on exports in late 2015. The discount for U.S. futures versus benchmark Brent settled at $3.02 per barrel on Monday after touching $3.07 per barrel, its widest since December 2015. That makes it more profitable for U.S. oil traders to ship crude to destinations where it fetches a higher price. U.S. crude inventories ...

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Analysis: Mexico refinery output rebounds as product imports move lower

Refinery production in Mexico is showing some recovery this year after the big drop experienced in 2016, an uptick that might have contributed to lower product imports so far this year. However, the dent in fuel imports might not be very significant, according to shipbrokers and Platts price data. Mexico’s refinery throughput registered a 1.60% increase to 930,433 b/d in February from January after rising 19.10% to 915,807 b/d that month from December 2016, according to energy ministry data. “Some maintenance work has been completed [in the refineries] and the ...

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Brazil’s 2017 soybean exports to reach new high

The record soybean crop being harvested in Brazil will generate a huge rise in Brazilian soybean exports in 2017, Hamburg-based oilseeds analysts Oil World said. Oil World estimates Brazil will harvest 108.5 million tonnes of soybeans in early 2017, up from 95.43 million in early 2016. “We estimate Brazilian soybean exports will be boosted to a new high of 61.4 million tonnes in calendar year 2017, up 9.8 million tonnes from last year,” Oil World said. “The increase in exports could be even higher, considering that the Brazilian soybean crop ...

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Indonesia Pays Price of Protectionism as Commodity Exports Sink

Indonesia’s economy is losing out on commodity gains after lawmakers wrapped protectionist policies around the nation’s resources. Their next problem: finding a lucrative replacement. Commodities now account for about 40 percent of all exports, down from almost 60 percent five years ago, according to Morgan Stanley. They make up just 6 percent of gross domestic product, half as much as in 2012, as trade restrictions worsened the impact of a price rout over much of that period. Crude oil and gas output has declined to levels last seen in the ...

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ADNOC seeks gasoline in second tender after Jan fire – Trade

Abu Dhabi National Oil Co (ADNOC) is seeking a total of 316,000 tonnes of gasoline for shipment in May and June to help make up for a shortfall in its own production following a fire in January at its Ruwais refinery, traders said. The volumes sought comprise 10 cargoes of 95-octane grade, of which two are due to be delivered in May and June respectively to Ruwais. ADNOC will lift the remaining eight cargoes, four in May and the remaining in June, from sellers and may supply them to other ...

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Oil Cargoes Set to Flood From Russia Despite OPEC Pledge

Russia’s ports will ship the most crude to world markets in at least nine years in April, something of a surprise given the nation’s commitment to cut production of the commodity as part of a pact with OPEC. There are multiple reasons why seaborne exports and output are far from perfectly correlated: the shipments could be compensating for lower piped flows, while temporarily diminished domestic consumption would also drive them up. Nonetheless, it could make May 2, when Russia releases preliminary output data for April, a more interesting day for ...

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Nigeria’s crude oil exports to rise in May – loading plans

Nigeria’s crude oil exports are set to rise to 1.66 million barrels per day (bpd) in May, according to a loading programme compiled by Reuters. The programme for the month is up from April’s revised loadings and also puts Nigeria just above Angola’s planned exports of 1.61 million bpd in May. While Nigeria had consistently been Africa’s largest oil exporter, its loadings have fallen below those of Angola several times over the past year as it dealt with militant attacks on oil infrastructure in the Niger Delta. The increase to ...

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Russia to cut oil exports from Primorsk by 12 pct in 2017 – Transneft

Russia will reduce Urals oil exports from the Baltic Sea port of Primorsk by around 12 percent to 44 million tonnes (884,000 barrels per day) this year due to using some of the pipeline capacity for shipments of diesel, oil pipeline monopoly Transneft said on Tuesday. Exports of Urals from the outlet in June would be cut to less than 3 million tonnes comparing to 4.5 million tonnes planned for April, the documents on export pipeline routes capacity, published on Transneft’s website, showed. Transneft also said it plans to restore ...

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U.S. crude oil exports went to more destinations in 2016

In 2016, U.S. crude oil exports averaged 520,000 barrels per day (b/d), 55,000 b/d (12%) above the 2015 level, despite a year-over-year decline in domestic crude oil production. Even though oil exports have increased, growth in U.S. crude oil exports has slowed significantly from its pace from 2013 to 2015, when annual U.S. crude oil production grew rapidly. Following the removal of restrictions on U.S. crude oil exports in December 2015, the United States exported crude oil to 26 different countries in 2016, compared with 10 countries the previous year. ...

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India’s Wheat Imports Seen Remaining Near Decade High, ITC Says

India’s wheat imports are likely to remain near the highest in a decade as the world’s second-biggest producer seeks to replenish stockpiles slashed by El Nino-induced drought, according to one of the nation’s largest buyers. Imports may reach 3 million metric tons in 2017-18, S. Sivakumar, the chief executive officer of ITC Ltd.’s agriculture business division, said in an interview. That would be the second-highest level in the past decade, although down from estimates for 5.5 million tons in 2016-17. India is seeking to rebuild stockpiles that likely plunged 44 ...

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Five South Korean utilities buy 1.5 million T of U.S. coal for third quarter arrival

Five South Korean utilities jointly bought a total of 1.5 million tonnes of coal from the United States to arrive from the third quarter, a spokesman at one of the utilities said on Tuesday. The purchase comes as South Korea, the world’s fourth-largest coal importer, encourages energy companies and utilities to seek U.S. energy resources under pro-fossil fuel Trump administration in an effort to diversify supply sources. Korea Midland Power Co Ltd (KOMIPO) signed the deal to buy the U.S.-origin coal products on behalf of the five utilities, its spokesman ...

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