China’s soybean imports from the U.S. rose 15.4% in the first two months of the year compared with 2022, data showed on Monday, as delays to the harvest in top supplier Brazil prompted buyers to seek more beans from the U.S. The world’s top buyer of soybeans, China brought in 11.59 million tonnes of the oilseed from the U.S., up from 10.04 million tonnes a year ago, data from the General Administration of Customs showed. Imports from Brazil, meanwhile, fell 36% from a year ago to 2.24 million tonnes. Rain ...

Russia overtook Saudi Arabia to be China’s top oil supplier in the first two months of 2023, Chinese government data showed on Monday, as buyers snapped up sanctioned Russian oil at steep discounts. Arrivals from Russia totalled 15.68 million tonnes in January-February, or 1.94 million barrels per day (bpd), up 23.8% from 1.57 million bpd in the corresponding 2022 period, according to data from the General Administration of Customs. Russia was China’s second -largest crude supplier last year, shipping 86.2 million tonnes. Imports of Saudi crude totalled 13.92 million tonnes ...

Black Sea wheat and Australian crop traditionally compete for Asian demand when its marketing season begins every July. But the Russia-Ukraine war, which broke out in February 2022, halted wheat supplies from Black Sea into Asia. Despite the inception of the Black Sea Grain Initiative in July 2022, buyers have largely avoided Black Sea supplies for most of last year due to concerns over financing, execution risk and inspection delays. The initiative was most recently extended on Mar. 18, though contention remains over the extension period. A year since the ...

China’s clean oil product exports are expected to fall sharply in March as maintenance season ramps up, despite surging 171.2% year on year in January-February, market sources and analysts said March 20. The country’s exports of gasoline, gasoil and jet fuel surged to 9.56 million mt (1.27 million b/d) in the first two months of 2023 from 3.53 million mt in the same period of 2022, General Administration of Customs data released March 18 showed. The jump came after Beijing encouraged exports to boost the economy by lifting export quota ...

China’s average daily coal imports from Russia rose in the first two months of 2023 compared with December, boosted by strong restocking demand as Beijing lifted its zero-COVID regime, but logistics bottlenecks still capped shipments. Arrivals of Russian coal reached 14.8 million tonnes, or 250,892 tonnes per day, during January and February, data from the General Administration of Customs showed on Monday, making Russia China’s second-biggest coal supplier. That compares to 222,346 tonnes per day in December and 110,470 tonnes per day over the first two months in 2022. China ...

China’s soybean imports from the U.S. rose 15.4% in the first two months of this year, data showed on Monday, as delays in harvesting in top supplier Brazil prompted buyers to seek more U.S. beans. The world’s top buyer of soybeans, China bought 11.59 million tonnes of the oilseed from the United States, up from 10.04 million tonnes a year ago, data from the General Administration of Customs showed. Imports from Brazil, meanwhile, fell 36% to 2.24 million tonnes. Rain delayed the harvest in key growing regions in Brazil and ...

China exported 20% more gasoline and over 10 times more diesel in January and February than a year earlier, customs data showed on Saturday, after Beijing raised fuel export quotas to spur refinery output. China’s diesel shipments in the first two months of 2023 surged to 4.54 million tonnes from a low base of 420,000 tonnes in the corresponding period last year, data from the General Administration of Customs showed. The country’s diesel exports have totalled more than 2 million tonnes a month since November. Gasoline exports of 2.27 million ...

In 2022, the United States set a new record for petroleum product exports, up 7% from 2021, according to our Petroleum Supply Monthly. U.S. petroleum product exports averaged 5.97 million barrels per day (b/d) in 2022 (405,000 b/d more than in 2021) driven by an increase of 18% (193,000 b/d) in distillate fuel oil. Geopolitical disruptions that occurred in 2022 are likely to continue to affect global trade of crude oil and petroleum products in 2023. In response to Russia’s full-scale invasion of Ukraine in late February 2022, the United ...

Russia’s agriculture ministry on Monday proposed a new scheme for foreign trade of agricultural exports, with payments via the country’s national clearing centre, according to a document published on a Russian government website. Under the scheme, foreign buyers of Russian grain will apply for rouble and foreign currency accounts with the country’s national clearing centre. Eduard Zernin, head of Russia’s grain exporters union, said that the new scheme was not exclusive, and that transactions could still be carried out in foreign currency, as before. In comments to Interfax, which were ...

India should extend a ban on wheat exports in place since last year to help ensure lower domestic prices and sufficient stocks for consumers, a flour millers’ industry body said. Exports of the grain from India, the world’s second biggest producer, surged after Russia’s invasion of Ukraine boosted global prices, but a sudden rise in temperatures in March 2022 shrivelled the crop and cut yields, pushing local prices higher. India imposed a ban in May last year, within days of promising to supply large quantities of the grain to a ...

Indian Oil Corp. has issued a tender seeking eight LNG cargoes for delivery to the country’s new Dhamra LNG terminal over the next 14 months, traders and market sources said March 16. The tender signals the startup of the highly anticipated Dhamra LNG terminal on India’s eastern coast at a time when new terminal openings have slowed due to the global energy crisis, and also shows how LNG importers are taking advantage of the current drop in prices to boost procurement. “The terminal is getting commissioned and we have capacity ...

Iran on Friday strongly pitched for faster implementation of the Chabahar port project as well as use of the facility by India to send various shipments saying the key transit hub will benefit both the countries. Iranian Ambassador Iraj Elahi also sought resumption of import of crude oil by India from Iran while citing New Delhi not succumbing under pressure by the Western powers to not continue procurement of petroleum products from Russia following the Ukraine crisis. India stopped procurement of crude oil from Iran after the US did not ...

Norway exported more than 120 billion cubic metres (bcm) of gas in 2022, mainly via pipelines, making it Europe’s largest gas supplier following a drop in Russian flows last year. The Nordic country exports its gas via a network of subsea pipelines to consumers, such as Britain and Germany. In addition, it ships liquefied natural gas (LNG). Here is a look at Norway’s export routes. HOW MANY PIPELINES ARE THERE? Norway last year piped 116.9 bcm of gas to the European Union and Britain via a pipeline system of more ...

China’s primary aluminum smelters are looking to transfer some capacity abroad – mainly into Indonesia – as they struggle with a national capacity ceiling and power supply shortages in the southwestern part of the country. Such a move would also be timely, as Indonesia from this June will be banning exports of bauxite, a preliminary raw material that is used to process aluminum. Aluminum plays a critical role in global economy and is now increasingly becoming important to the energy transition story. This is indicated by aluminum’s application in sectors ...

China’s economic recovery appears to be on track, but is unevenly spread across sectors, which is likely to result in a similar pattern for its imports of major commodities. A slew of data from the world’s second-biggest economy showed some encouraging signs of a recovery in industrial production, retail sales and fixed-asset investment. Industrial output rose 2.4% in the first two months of 2023 from the same period last year, retail sales jumped 3.5%, while fixed-asset investment gained 5.5%. China publishes combined January and February data to smooth out distortions ...