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Sonangol sells last cargo, Nigerian offers rise

West African crude markets looked on Thursday to be finding further support from brisk demand as well as tight supply. Angolan state oil firm Sonangol sold its last March-loading spot cargo, a Girassol last offered at dated Brent plus $1.70, a trader said. Another trader said the buyer was Chevron. Chevron was no longer offering its March-loading Cabinda which was shown at dated Brent plus $1.20 earlier this week, a trader said. Whether or not it was sold was not known. Global tightness in light sweet crude has helped to ...

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Algeria bought about 30,000 tonnes corn from Argentina last week -traders

Algerian state agency ONAB is believed to have bought about 30,000 tonnes of animal feed corn expected to be sourced from Argentina in a purchase made late last week, European traders said on Thursday. It was believed to have been purchased at around $339 a tonne c&f, they said. Shipment was between March 1 and March 15, they said. Source: Reuters (Reporting by Michael Hogan)

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Jordan issues new tender to buy up to 120,000 tonnes wheat

Jordan’s state grain buyer has issued an international tender to buy up to 120,000 tonnes of milling wheat which can be sourced from optional origins, European traders said on Thursday. The deadline for submission of price offers in the tender is Feb. 7. Shipment in the new tender is sought in a series of possible combinations in 50,000 to 60,000 tonne consignments. Possible shipment combinations are May 1-15, May 16-31, June 1-15 and June 16-30. A new tender had been expected by some traders after Jordan bought 60,000 tonnes of ...

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Iraq expects to procure “good” amount of wheat locally if rainfall continues, state buyer says

Iraq expects to procure “good” quantities of wheat locally this season if favourable rainfall levels continue, allowing the country to buy less wheat internationally, the chairman of the state grains buyer told Reuters on Thursday. Iraq imported 800,000 tonnes of wheat since October, Haidar Nouri said. Iraq is keen to buy wheat now that prices have cooled after the resumption of grain exports from Russia and Ukraine, Nouri added, saying that now was the best time to buy as it coincides with Australia’s harvest. The country is a major Middle ...

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U.S. LNG exports fall 5% as shipments to Europe slip

U.S. exports of liquefied natural gas (LNG) declined 5% to 6.84 million tonnes in January compared to the prior month as cold weather boosted domestic demand and as producers sent less gas to European customers, Refinitiv Eikon data showed on Wednesday. A cold snap hitting the United States is expected to modestly impact gas supply balances in the coming weeks, even amid bearish scenarios of tight dry gas supplies, according to analyst Ade Allen from consultancy Rystad Energy. A total of 95 cargoes carrying LNG departed last month from U.S. ...

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Russian wheat lowest price offer in Egypt’s GASC tender- traders

The lowest price offered in the international tender from Egypt’s state commodities buyer GASC to purchase wheat on Thursday was believed to be $322.80 a tonne cost and freight (c&f) for wheat sourced from Russia, traders said in initial assessments. The offer was believed to have been submitted by trading house Grainflower. The tender seeks shipment in February and March. No purchase has been made and the result is expected later on Thursday after continued price negotiations, they said. Source: Reuters (Reporting by Michael Hogan)

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Bangladesh to restart spot LNG buying as prices ease – sources

While the tender has not yet been awarded, the lowest offer was made at $19.74 by TotalEnergies TTE among four participants who competed, a source at RPGCL said. TotalEnergies did not immediately respond to a request for comment. The South Asian nation relies on imported natural gas for nearly three-quarters of its power generation, but was forced to ration gas supplies last year as global prices were driven up by Russia’s war in Ukraine. “We are planning to buy 10 to 12 cargoes from the spot market until June. Prices ...

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Algerian gas flows to Europe shrink, but Italy gains as trade ties strengthen

Algerian gas flows to Europe fell by around 6 Bcm in 2022, totaling 44 Bcm last year, according to data from S&P Global Commodity Insights, as lower LNG exports to the Continent and reduced transit to Spain were only partially offset by burgeoning energy ties with Italy. However, with lower Russian gas supplies to Europe last year, Algeria — Africa’s largest gas exporter – saw its share of EU gas imports increase, accounting for around 12% of the EU’s gas imports in 2022, S&P Global data showed, up from some ...

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Russia’s Feb ultra-low sulphur diesel exports from Primorsk seen at 1.71 mln T -traders

Russia’s exports of ultra-low sulphur diesel (ULSD) from the Baltic Sea port of Primorsk are set to rise by 4.6% month on month on a daily basis in February to 1.71 million tonnes, from 1.81 million tonnes scheduled for January, two traders said on Wednesday. February is three days shorter than January. Source: Reuters (Reporting by Reuters, Editing by Louise Heavens)

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Sea exports of Russian crude via Black Sea to grow despite embargo in January 2023 — BlackSeaNews

According to preliminary estimates by experts, sea exports of Russian crude oil from the Black Sea in January 2023 will increase significantly. “Russia has already lost its key European market for crude and is about to do the same for refined products — an EU import ban is due to come into force on Feb. 5,” U.S. news agency Bloomberg wrote on Jan. 30. According to analysts, the growth will be from 15% to 35%, and the volume of exports will be from 3.4 to 4.2 million tons instead of ...

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Kuwait exports first modified diesel fuel shipment to Europe

Kuwait’s National Petroleum Company exported its first shipment of modified diesel fuel to Europe through the Mina al-ahmadi refinery, the oil ministry said on Wednesday. Monday’s shipment was a cargo of 38,000 tonnes aboard the tanker POLARACE, the ministry added on Twitter. Source: Reuters

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Egypt’s GASC believed to have cancelled corn tender- traders

Egypt’s state buyer GASC is believed to have cancelled a corn purchase tender which closed on Wednesday with no purchase made, traders said. Confirmation from GASC was still awaited. U.S.-origin corn had been offered at the lowest price in the tender earlier on Wednesday. Source: Reuters (Reporting by Michael Hogan)

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U.S. exports to China of light, sweet crude hit 5-month high

U.S. exports of light sweet crude to China jumped to a five-month high, as the world’s biggest crude importer boosted refining and as Europe’s demand eased, market participants said. Cargoes of U.S. light sweet crude bound for China rose last month to about 187,000 barrels per day, the highest since August, said Matt Smith, lead oil analyst for the Americas at data and analytics firm Kpler. Those exports are expected to tighten global supply of light sweet crude, while prices for WTI Midland, a key U.S. light sweet grade, have ...

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First shipment of Australian coal to arrive in China as trade ties improve: insiders

A Chinese steel firm has resumed to purchase Australian coal products, with the first shipment of about 72,000 tons of coking coal expected to arrive at Zhanjiang Port, South China’s Guangdong Province on February 8, industry insiders told the Global Times. The resumption comes amid restored enthusiasm and attention among Chinese companies toward Australian goods thanks to wide expectations for an improvement in bilateral ties. It’s also part of a diversification effort to reduce China’s reliance on any single source, experts said. The first shipment of Australian coking coal of ...

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EU boosts Russian residual fuel imports ahead of Feb. 5 ban -Vortexa

EU imports of Russian residual fuel spiked to a six-month high of about 210,000 barrels per day (bpd) in January, ahead of a Feb. 5 ban on bringing Russian oil products into the region, data from oil analytics firm Vortexa showed. Imports of Russian residual fuel, which include fuel oil and refinery feedstocks, were nearly double December’s levels and a little less than the 240,000 bpd the EU imported in July, the data showed. The rise in imports comes ahead of the Feb. 5 ban on imports of Russian oil ...

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