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Clash of the titans: Rosneft takes on Gazprom in gas markets

Russian energy major Rosneft (ROSN.MM) is increasingly challenging domestic rival Gazprom (GAZP.MM) in international gas markets, from West Africa to Turkey and even Europe, according to five industry sources with knowledge of the matter. Last week, Rosneft won a multi-billion dollar contract in Ghana that had been targeted by Gazprom, the sources said. It also signed a gas fields and pipeline deal in Iraqi Kurdistan aimed at supplying gas to Turkey and Europe – Gazprom’s core markets. Oil-focused Rosneft’s international expansion in gas will put the two Russian state-owned giants ...

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US oil production could hit 11M barrels per day this year

Oil production in the U.S. could soar to 11 million barrels per day bpd by the end of 2018, especially if the Trump administration puts the necessary infrastructure – pipelines, refineries, export facilities – in place, according to Secretary of the Interior Ryan Zinke. “There’s no reason why we can’t produce over 11 barrels a day,” he told FOX Business’ Stuart Varney during an interview on Thursday. “If we have the infrastructure in place, my God, we could be at 14 million barrels a day.” U.S. crude output, which has ...

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Late to teapot party, ExxonMobil breaks with tradition in wooing China’s oil market

ExxonMobil Corp’s global oil marketing team stormed into China this week hoping to elbow aside rivals and gain access to the nation’s “teapot” refining market, executives told Reuters. The push by Exxon, the world’s biggest oil and gas company by market value, to court the independent refiners, known as teapots, illustrates the clout they are exerting on the global oil market since winning crude import licenses from the government in 2015. The refiners are big foreign crude buyers in a country that is now the world’s largest oil importer. To ...

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Wide open arbs help US crudes capture international market share

With spot arbitrages open for multiple US crudes like WTI and Mars in Europe and across Asia, US grades are capturing more market share overseas. US monthly crude oil exports came in at 1.671 million b/d in March, just under record levels hit back in October, US Energy Information Administration oil data showed Friday. US crude exports historically have gone to Canada, but volumes to China have recently begun to rival these as WTI has become increasingly competitive, not just with local and Middle East grades, but also with North ...

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Italy’s eurosceptics and their currency ideas take centre-stage

If Italy leaves the euro, it will be late on a Friday night. Government officials will have planned the move in the utmost secrecy, telling their European partners only that same evening while simultaneously ordering the shutdown of banks and financial markets to prevent a stampede of capital out of the country. This is “Italy’s Plan B”, an eye-popping contingency scenario drawn up by the team at a website specialising in economic issues, for how the euro zone’s third-largest economy should go about returning to the lira if necessary. The ...

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Steel Tariffs Are Taxing Some American Companies

New tariffs intended to bolster the American steel and aluminum industries are starting to have the opposite effect in a key part of the U.S. supply chain. U.S. steel producers are benefiting from tariffs that make it more expensive for companies to buy the metals overseas. But some U.S. firms that use the metals to make everything from refrigeration parts to wheels say the tariffs have led to higher materials prices that are forcing them to charge more for their products. These firms say that in some cases, customers are ...

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And the kitchen sink – EU to hit back at U.S. tariffs

The European Union’s plans to hit back at new U.S. tariffs on EU steel and aluminium exports include hiking duties on a range of imports from the United States, from blue jeans and rice to the proverbial kitchen sink. In eight closely typed pages of documentation lodged at the World Trade Organization (WTO) in Geneva, the EU has set out 25-percent tariff increases that are in part aimed at hurting the electoral districts of some of President Donald Trump’s allies. That explains “motorcycles … of a cylinder capacity above 800 ...

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One of the biggest US trade wars of the past had a tragic consequence — here’s what happened

It looks like President Donald Trump is gearing up for a trade war. But in this kind of fight, history seems to indicate there are very few winners. Economists are warning about hypothetical scenarios where Trump takes it too far, and other countries strike back, inevitably sending the global trade community down a spiraling path of retaliation. That scenario played out in almost real time this week. The White House on Thursday unveiled tariffs on steel and aluminum imports from Canada, Mexico and European Union countries. And those countries swiftly ...

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Higher oil prices could give ECB grounds to turn hawkish, says HSBC economist

Stubbornly low eurozone inflation has pushing back expectations for when the European Central Bank will begin to roll back its crisis-era quantitative-easing program. But a long-running rise for oil might push Europe’s consumer prices higher, and lead the ECB to spring into action faster. Earlier this month, West Texas Intermediate futures climbed above $70 per barrel for the first time four years. Prices for the commodity have come off again, but the trend stands. Crude oil futures for July delivery stood at $66.71 on Tuesday, a six-week low, though they ...

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The rise of the apprentice – a European tradition comes to the U.S.

The growing number of apprenticeships in the U.S. has more to do with European companies importing the practice into their American operations than with the long-running NBC television reality show and its former host who now lives in the White House. Traditional apprenticeships are more than summer internships familiar to Americans, and involve a significant service period of a year or two, plus training, often for a community college degree. Apprenticeships come with plenty of corporate support, including mentor partnerships and placement across multiple company divisions. And they always involve ...

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Here’s the ‘real solution’ to the trade war that will make China ‘play by the rules’

President Donald Trump has done more for manufacturing workers than any president in recent history, and now he has the chance to cement his legacy—by seeking, negotiating and securing a history-making trade agreement with China. With U.S. Commerce Secretary Wilbur Ross headed to China in the coming days, the administration has the chance to lay the foundation to advance this goal. It would be an ambitious undertaking, but that is no reason to avoid it. After years of complaining about China, it’s time for bold action that redefines our economic ...

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Tanker Market Rates 04/06/2018

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

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Chinese iron ore and steelmaking prices June 04 2018

China’s spot iron ore prices at ports edged up by RMB5/tonne amid upward room shored up by buoyant futures market and improved demand.

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Tanker Market Rates 02/06/2018

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

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SQLearn participates in Posidonia 2018

SQLearn, the first company to use e-learning for the advancement of maritime training, participates in Posidonia 2018, 4-8 June 2018 at Athens Metropolitan Expo Centre. SQLearn created Dolphin Platforms, a complete suite of specialized services for the shipping industry. Dolphin Platforms include a range of innovative and effective products, using flexible, interactive and reflective learning techniques. Dolphin Platforms, introduced at Posidonia 2018, consist of: a) Dolphin System: Ashore and οnboard Learning Management System b) Dolphin Library: Interactive e-learning courses for seafarers based on STCW topics c) Special Dolphin: Custom interactive ...

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