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Unable to Buy Iran Oil, New Turkish Refinery Turns to Russia

Azerbaijan’s state oil company is turning to Russia to supply a new $6.3 billion refinery it built in Turkey because shipments from one of its preferred suppliers — Iran — are off the table due to U.S. sanctions. The Star Refinery in Aliaga on the Aegean coast agreed to buy an initial 1 million tons of Urals crude — about one tenth of the plant’s annual processing — from Russia’s Rosneft PJSC, Mesut Ilter, the facility’s chief executive officer, said in an interview. “If there were no restrictions, we would ...

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Indonesia exports 82.2 LNG cargoes from Bontang, Tangguh in Jan-June -SKK Migas

Indonesia has exported 82.2 standard cargoes of liquefied natural gas (LNG) from Bontang and Tangguh plants during January-June 2019, according to upstream oil and gas regulator SKK Migas’ senior official Arief Setiawan Handoko. The country produced 57.2 standard cargoes of LNG in Bontang LNG Plant from January-June 2019, compared to 78.3 standard LNG cargoes during the first six months of 2018. From Tangguh LNG plant, it produced 56.8 standard cargoes from January-June 2019, compared to 60.8 standard LNG cargoes during the first six months of 2018. Indonesia’s overall domestic use ...

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Jordan Silos company tenders to buy 25,000 tonnes wheat – trade

Jordan’s state-owned Silos and Supply General Company has issued an international tender to buy 25,000 tonnes of milling wheat, European traders said on Monday. The tender deadline is July 30. Shipment is sought in the first half of September. The company’s tenders are separate from those issued by Jordan’s trade ministry, Jordan’s main state grains buyer. The ministry has issued another tender for 120,000 tonnes of wheat closing on Tuesday. Source: Reuters (Reporting by Michael Hogan)

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Iran says tanker incidents have not impacted its oil exports – SHANA

Iran’s oil minister, Bijan Zanganeh, said on Sunday that the country’s oil exports had not been impacted so far by the recent tanker incidents in the Gulf. “Oil tankers and export of oil is one of the issues in which we have limitations and the U.S. and its allies have caused restrictions for us and we have to be sensitive,” the Iranian oil ministry’s SHANA news agency quoted him as saying. Britain has called Iran’s capture of the Stena Impero in the Gulf on Friday a “hostile act” and rejected ...

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German coal imports could fall 10% in 2019 in face of rising renewable power

Germany’s hard coal imports may fall for the fourth year in a row this year and by around 10% from 2018 levels, importers’ group VDKi forecast, citing competition from renewable energy and slack demand from steelmakers. Germany’s position as Europe’s biggest coal importer has an influence on global coal trade flows and prices at landing ports. VDKi forecast imports of between 39 million and 43 million tonnes in 2019 compared with 46.7 million in 2018, revising a January forecast for higher volumes this year, which had been based on the ...

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Brazil’s corn exports jump on early harvest, bumper crop, competitive prices

Brazil, the world’s second largest corn producer and exporter after the US, is stepping up its exports rapidly this year amid a bumper domestic crop and expectation of a fall in the US corn production. The South American nation exported 2.4 million mt of corn in May-June this year, which is significantly higher than an average export of 343,415 mt during the same period over the last six years, according to the official data. Corn exports from Brazil are usually the lowest in May-June period. However, the amount of corn ...

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Chinese companies looking to buy U.S. farm products – Xinhua

Some Chinese companies are seeking new purchases of U.S. agricultural products, China’s official Xinhua news agency said on Sunday, citing authorities, as Beijing and Washington look for ways to end a protracted trade war. U.S. President Donald Trump and Chinese President Xi Jinping agreed at last month’s G20 summit in Osaka to restart trade talks that stalled in May. Trump said at the time he would not impose new tariffs and U.S. officials said China agreed to make agricultural purchases. But Trump said on July 11 that China was not ...

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Nigeria to Sell 10% of Own Oil Exports to India – NNPC

The Nigerian National Petroleum Corporation (NNPC) says it will supply 10 per cent of its crude oil export to India to help resolve a growing energy crisis in the country. India, the world’s second most populous country, needs crude oil and refined petroleum products from other countries to resolve her growing energy crisis. The Group Managing Director of the NNPC, Mele Kyari, said Nigeria will continue to support India’s energy security challenge in whatever way it can. The NNPC spokesperson, Ndu Ughamadu, said in a statement on Thursday that Mr ...

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China’s increased gas imports from Russia could extinguish Australia’s LNG export rise

The progress and functioning of Russia’s Power of Siberia pipeline could be a bad omen for Australian liquefied natural gas (LNG) exports despite record volumes recorded in recent months. Chinese state-owned oil major China National Petroleum Corp (CNPC) and Russia’s Gazprom agreed on certain details about how a trans-border section of the pipeline should be put into operation, a statement on the CNPC website said on Tuesday. On the same day, a top Gazprom executive said 2,156 kilometers of the Power of Siberia gas pipeline were already built, with 1,950 ...

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Brazil soybeans lose protein, China sales at risk

The protein content in Brazilian soybeans fell for the first time in four harvests in 2018, according to preliminary government data, a development that has already cost Brazilian companies business with top buyer China. Declining protein levels in Brazil, the world’s top soybean supplier, spell trouble for exporters who are faced with the prospect of cancellations, selling beans at a discount or stricter contracts requiring quality assurances with buyers who want to guarantee a nutrient-rich purchase. The protein content in Brazil’s 2018 soy crop harvested around January of that year ...

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Trading houses soak up UAE LNG cargoes as Japan contract ends

India has overtaken Japan to become the biggest buyer of Abu Dhabi’s LNG, as trading houses keen to maximise netbacks have filled the gap left by the expiry of ADNOC’s long-term contract with Japanese utility TEPCO earlier this year. The Gulf emirate shipped 929,000 tonnes of LNG to India in the second quarter, up 15 time year on year, according to LNG Edge. At the same time, exports to Japan slumped by around 90% to 121,000 tonnes, knocking Japan from the top spot for the first time on record. Flows ...

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Pakistan: Oil imports edge up in FY19

While the overall imports declined during the year 2018-19, the country’s oil import went up slightly by 0.08 per cent year-on-year to $14.44 billion, reveals data compiled by Pakistan Bureau of Statistics. The analysis of the data suggests that all the groups including food group, machinery group, petroleum good, consumer durables and raw materials have witnessed hefty decline in imports during the outgoing fiscal year. The PBS data showed the overall import bill declined by 9.86pc year-on-year to $54.79bn. Imports declined mainly because of decrease in arrival of furnace oil, ...

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Novatek offers LNG cargo from Rotterdam for Sept 11-12 loading-sources

Novatek, which operates the Yamal liquefied natural gas (LNG) production plant in Arctic Russia, has offered an LNG cargo to load on Sept. 11-12 from the Gate terminal in Rotterdam, trade sources said. They said the offer was issued on the GLX online trading platform which launched in Europe only last month. Bids were due by Friday. Large volumes of Yamal LNG are sent to Rotterdam from where cargoes can be reloaded to other destinations. Source: Reuters (Reporting by Sabina Zawadzki. Editing by Jane Merriman)

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Ukraine’s July 13-19 sea port grain exports jump on week

Ukrainian grain exports from sea ports in the week of July 13-19 jumped to 819,000 tonnes from 499,000 tonnes a week earlier, preliminary data from APK-Inform consultancy showed on Sunday. Corn exports rose to 356,000 tonnes from 187,000 tonnes the previous week, while wheat shipments increased to 285,000 tonnes from 221,000 tonnes, the consultancy said. It did not explain the move. Most of Ukraine’s grain exports last week were headed to Jordan, Israel and Italy. Ukraine exported a record 50.4 million tonnes of grain last season. Source: Reuters

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Indian utilities’ coal imports in H119 rise over 53% from year ago

Coal imports by Indian coal utilities during the first half of 2019 rose 53.4% from a year earlier to 35.47 million tonnes, data provided by India’s Central Electricity Authority (CEA) showed. Demand for seaborne coal imports in India has risen because of a fast rising population and the unavailability of alternative fuels such as natural gas. Imports for power plants at the port of Mundra, in western India’s state of Gujarat, made up 42% of all imports by Indian utilities during the first half of 2019. Imports by Adani Power ...

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