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Chinese authorities tighten port restrictions to control coal imports: sources

China’s National Development and Reform Commission imposed further port restrictions on coking coal and thermal coal until the end of 2018 at ports across China, market sources said. Sources said that NDRC had verbally informed General Administration of Customs during a meeting in Jiangsu held Wednesday that any imported coal would no longer be able to clear customs until the end of 2018. Under current restrictions, cargoes which have been booked earlier were allowed to unload at Chinese ports, but were not allowed to clear customs. Furthermore, users are expected ...

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Brazil record soy exports to China could expand further -official

Brazil’s record soy exports to China could grow further, an Agriculture Ministry official told Reuters, as the Asian nation’s trade war with the United States boosts its demand for South American beans. Odilson Ribeiro e Silva, vice minister of international affairs, traveled to China this month and said he hopes the high demand will also open the country up to Brazilian soymeal. Brazilian exports of the oilseed soared after China slapped a 25 percent tariff on U.S. soy in July in response to Washington’s tariffs on billions of dollars worth ...

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Iraq restarts some Kirkuk oil exports after year-long halt

Iraq restarted exports on Friday of Kirkuk oil, halted a year ago due to a standoff between the central government and Kurdistan’s semi-autonomous region, after a new government in Baghdad agreed a tentative deal with Erbil. The development is a win for the U.S. government, which has been urging both sides to settle the dispute and resume flows to help address a shortage of Iranian crude in the region after Washington imposed new sanctions on Tehran. Flows resumed at a modest level of around 50,000-60,000 barrels per day (bpd) compared ...

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Shanghai steel rebar pares early gains on glut concerns

Chinese steel rebar erased all early gains to trade lower on Friday, as concerns over an increasing supply offset a firm demand outlook that was supported by falling stockpiles. Steel product inventory at Chinese traders dropped for a sixth straight week in the week to Nov. 16, down 284,700 tons from the previous week at 8.61 million tons, according to data compiled by Mysteel consultancy. That marked the lowest level since late November 2016. Stocks of construction steel rebar declined 5.6 percent to 3.17 million tons, the data showed, while ...

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United States is now on track to become a net exporter of petroleum for the first time since at least 1949 with additional trade deficit gains expected

The boom in U.S. oil and gas production over the past decade has exerted a moderating force on what is a large domestic merchandise trade deficit by helping reduce the country’s net petroleum imports, a new report by business information provider IHS Markit (Nasdaq: INFO) says. Continued U.S. production growth is now on track to make the country a net-exporter of petroleum for the first time since at least 1949. The total U.S. merchandise trade deficit in 2017 was nearly $250 billion lower than it otherwise would have been if ...

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India Nayara Energy’s Oct Iran oil imports down 37 pct from Sept – trade sources

India’s Nayara Energy, part-owned by Russian oil major Rosneft , shipped in about 37 percent less Iranian oil in October than the previous month at about 34,300 barrels per day (bpd), according to data from the shipping industry and sources. Under pressure from U.S. sanctions, Nayara has been reducing its intake of Iranian oil from June, people familiar with the plan have previously told Reuters. The company has no plans to import Iranian oil from November. Overall, Nayara imported 18 percent less oil in October compared with the same month ...

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Malaysia gas exports severely hit by output disruption since Q2 -finmin

Malaysia’s gas exports have been severely impacted since the second quarter of the year due to a supply disruption at a gas field in the eastern state of Sabah, the finance minister said on Friday. “Major repairs and assessment works are still ongoing and production is only expected to return to full capacity by the middle of next year (at) the latest,” Finance Minister Lim Guan Eng said in a statement. The supply disruption has affected the country’s economic growth and petroleum income tax revenue received by the government, he ...

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USDA says nearly $840 million in aid paid to farmers to date

U.S. Department of Agriculture has paid out nearly $840 million to farmers to date as part of a promised $12 billion aid program rolled out by President Donald Trump last July to offset losses from the imposition of tariffs on American exports. A total of $837.8 million to date has been paid out with the top five commodities being soybeans, wheat, corn, dairy and hogs, USDA told Reuters. The five states that received the highest amount of aid were Illinois, Iowa, Kansas, Indiana and Minnesota. The aid delivered remains a ...

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Singapore’s Wilmar may invest in soybean production in Russia

Singapore-listed commodity trader Wilmar International Ltd may invest in soybean production and processing and transhipment of soybean concentrates in Russia’s Far East, a regional ministry said on Thursday. Wilmar’s long-term investment programme in the Far East has been developed with Russian support, the ministry for the development of the Far East said in a statement, summing up meetings between officials and potential investors on the sidelines of a regional conference in Singapore, which President Vladimir Putin attended this week. The ministry said the potential long-term investment as part of the ...

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Coal stocks in a third of NTPC plants close to nil

Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company’s coal-based capacity is running with ‘hand to mouth’ coal stock. As on November 12, six major NTPC power plants, with a combined capacity of 12,480 MW, have fuel stock of ‘zero’ days, data from the Central Electricity Authority show. NTPC’s 2,980 MW Sipat plant in Chattisgarh, 2,340 MW Kahalgaon unit in Bihar, 2,100 MW Farakka station in West Bengal, 2,400 MW Kudgi unit in Karnataka, 2,000 MW Simhadri plant ...

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China to offer financial support to improve coal mine safety

China will offer financial support to improve safety at coal mines in 2019-2020, the National Development and Reform Commission (NDRC) said in a statement on Friday. * That comes after several fatal accidents at coal mine in the country. * The NDRC did not give the total amount of money it will put into the improvements, which are to include equipment upgrade and infrastructure construction. * Money will only be given to new projects that have not finished being built or to projects that have not finished safety renovations. * ...

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Ukraine increases coal imports by 15.5 percent

Ukraine increased imports of coal and anthracite coal (HS code 2701) by 15.5 percent, or 2.343 million tonnes, in January-October 2018 year-over-year, to 17.426 million tonnes. Coal shipments over the period under review were estimated at $2.461 billion, which was 14.4 percent more than in January-October 2017 ($2.151 billion), Ukraine’s State Fiscal Service said. In particular, coal bought from the Russian Federation (62 percent of all imports) was estimated at $1.526 billion, from the United States (30.04 percent) at $739.278 million, Canada (5.16 percent) at $126.946 million, and other countries ...

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BHP reveals details of train derailment but questions remain

A statement from BHP detailing results of a preliminary investigation into its November 5 Pilbara train derailment has raised more questions about the incident. On Friday BHP WA Iron Ore president Edgar Basto revealed the driver stopped the train to check a disconnected braking system control cable. Several brake failures followed. “The train began to move after the driver had disembarked to carry out an inspection, becoming what is termed a ‘rollaway’ train,” he said. “Our initial findings show that the emergency air brake for the entire train was not ...

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BP, Pan American eye exporting Argentina shale gas as LNG via Chile

Pan American Energy, the second-biggest oil producer and third for gas in Argentina, is working with BP on potentially exporting LNG out of Chile, a project that could prove faster to get Vaca Muerta shale gas to market than building a liquefaction facility in Argentina. The project is in the conceptual design phase and would involve delivering supplies over an existing Argentina-Chile pipeline to the Quintero LNG regasification terminal in Chile, said Alejandro Lopez Angriman, vice president of reserves development at Pan American. The Quintero terminal “can be turned around ...

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Karnataka may cancel NMDC’s Donimalai mine lease in levy dispute

The government of Karnataka on Friday warned NMDC Ltd that it will cancel the lease of its Donimalai iron ore mine if the state-owned miner refuses to pay an additional levy on the sale of its ore. Karnataka’s threat to cancel the lease stems from a dispute between NDMC, India’s biggest iron ore miner, and the state government over its decision to impose an 80 percent premium on ore sales from Donimalai. Karnataka levied the premium when it renewed NDMC’s license for Donimalai on Nov. 2. NMDC contested the 80 ...

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