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How Iran is boosting oil exports despite US sanctions

Iran’s crude oil exports have been surging in recent months on the back of higher shipments to countries like China, according to data from companies that track the flows. Analytics firms like Vortexa, TankerTrackers and Kpler estimate an increase in Iranian crude and condensate exports over the past three months, averaging around 1 million barrels per day. The numbers are far below the over 2.5 million barrels per day the Persian Gulf nation was exporting in early 2018 — before the Trump administration withdrew the US from the international nuclear ...

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Argentina’s grain export revenue plunges in January, chamber says

Argentina’s revenue from exports of grain, oilseeds and their derivatives plummeted 61% in January from a year ago, exporters and crushers chamber CIARA-CEC said on Wednesday, in a setback as the country tries to refill foreign currency reserves. Exports totaled $928.37 million in the first month of the year, also falling 75% over the previous month, as the world’s largest exporter of soybean oil and meal grapples with a severe drought that has delayed fieldwork and affected grain output. Lack of rainfall in Argentina, also a major supplier of corn ...

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South Korea’s NOFI tenders for about 85,000 tonnes feed wheat – traders

Leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up to 85,000 tonnes of animal feed wheat, European traders said on Wednesday. The deadline for submission of price offers in the tender is also Wednesday, Feb. 1. The wheat is sought in two consignments from worldwide optional origins, but Russia, Ukraine, Argentina, Pakistan, Denmark, China and India are excluded as sources. The first consignment of up to 20,000 tonnes is sought for arrival in South Korea around April 30. If sourced from the U.S. ...

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Arab Petroleum provided 93.2% of Japan’s imports in December

Japan remained heavily dependent on Arab crude oil to generate about 30 percent of its energy needs for its economy in December 2022, data showed. In numbers, Arab Petroleum provided 93.2% of the 91.87 million barrels of oil imported by Japan in that month, with 93.2% of that amount, or 85.62 million barrels, coming from the six Arab countries of Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain, and Oman, according to data from the Agency for Natural Resources and Energy of the Japanese Ministry of Economy, Trade and ...

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Mongolia to conduct coal exports trade via exchange from Feb. 1

Mongolia will export its coal at prices set via auctions on the Mongolian Stock Exchange (MSE) from Wednesday and stop signing direct sales contracts with overseas buyers, mainly from China, in a bid to tackle widespread graft in the sector. The move came after a coal-related corruption scandal triggered protests in the capital Ullanbaatar in early December. The government approved a regulation on Dec. 14 requiring parties involved in coal exports to make their trades through open electronic trading via the MSE from Feb. 1. Under the previous trading mechanism, ...

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Kazakhstan says oil exports via CPC pipeline to grow 8.7% in 2023

Kazakhstan aims to boost oil exports via the Caspian Pipeline Consortium (CPC) system by 8.7% year-on-year to 56.5 million tonnes in 2023, the vice energy minister said on Wednesday. CPC, which handles about 1% of global oil, takes oil from Kazakhstan to the Black Sea via one of the world’s largest pipelines. Kazakhstan is the second-biggest oil producer among the ex-Soviet countries after Russia, pumping around 1.5 million barrels per day, and both countries are members of the OPEC+ group to coordinate oil production. Source: Reuters (Reporting by Mariya Gordeyeva; ...

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Indonesia sees 2023 coal exports of 457 mln T, less than earlier cited – official

Indonesia’s coal exports are targeted at 457.3 million tonnes this year, an energy official said on Tuesday, a day after the minister said exports would reach a record of more than 500 million tonnes. The ministry’s coal director, Lana Saria, said exports would drop this year, however, despite demands from European buyers, as domestic consumption is seen rising. She said the data earlier cited by the minister had not been reconciled. She also said Indonesia is assessing the impact of China’s resumption of coal imports from Australia. “Whether China would ...

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Japan’s 2022 oil imports rises 9.7% y/y to 2.73 mln bpd – METI

Japan’s crude oil imports rose 9.7% to 2.73 million barrels per day (158.64 million kilolitres) in 2022 from a year earlier, marking a second straight year of increases, preliminary data released by the Ministry of Economy, Trade and Industry (METI) showed on Tuesday. Oil imports rose last year as fuel demand continued to recover from the pandemic-induced slump in 2020. Under METI’s data, crude oil imports represent the amount that directly enters refineries, oil stockpiling bases or oil terminals. The country’s oil imports from Russia fell 60.2% from a year ...

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Russia to ship 20,000 tonnes of oil from Kazakhstan to Germany via Druzhba pipeline in February

Russia’s Transneft said on Tuesday that oil shipments from Kazakhstan to Germany via the Druzhba pipeline, exempt from Western sanctions, will begin in February, the RIA Novosti news agency reported, citing Transneft. The company said it had agreed a contract to supply 20,000 tonnes of Kazakh oil to Germany in February. The TASS news agency also said it had supplied 500,000 tonnes of oil to Poland via the Druzhba pipeline. The European Union has pledged to stop buying Russian oil via maritime routes from Dec. 5 as part of wider ...

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Ukraine grain exports down 30.8% so far in 2022/23, ministry says

Ukraine has exported almost 26.3 million tonnes of grain so far in the 2022/23 season, down from the 37.9 million tonnes exported by the same stage of the previous season, agriculture ministry data showed. The volume included about 9.4 million tonnes of wheat, 14.9 million tonnes of corn and about 1.8 million tonnes of barley. The ministry said grain exports so far in January had reached 3.5 million tonnes as of Jan. 30, down from 5.5 million tonnes in the same period last year. After an almost six-month blockade caused ...

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Asia absorbs big rise in Russian Urals crude exports – sources

Asian markets are showing no let up in their demand for Russian oil, absorbing a big rise in seaborne exports of Urals crude this month and helping Moscow cope even as most Western buyers stay away, according to traders’ and Refinitiv Eikon data. At least 5.1 million tonnes of Urals are being shipped from Russia’s European ports of Primorsk, Ust-Luga and Novorossiysk to Asia in January, the data show. The final destinations for another 1.9 million tonnes of the grade has yet to be identified, but traders expect most of ...

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Russia bans oil exporters from adhering to Western price caps

The Russian government on Monday banned domestic oil exporters and customs bodies from adhering to Western-imposed price caps on Russian crude. The measure was issued to help enforce President Vladimir Putin’s decree of Dec. 27 that prohibited the supply of crude oil and oil products from Feb. 1, for five months, to nations that abide by the caps. The G7 economies, the European Union and Australia agreed on Dec. 5 to ban the use of Western-supplied maritime insurance, finance and brokering for seaborne Russian oil priced above $60 per barrel ...

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China’s quest to keep more oil barrels at home to limit product exports in 2023

China’s much anticipated oil demand revival will likely prompt the country to keep more barrels at home this year — a trend that could lead to a slump in clean oil product exports from Asia’s biggest oil consumer toward the later part of 2023, sources told S&P Global Commodity Insights. Although Chinese refiners are holding plentiful export quotas now, analysts and industry sources said Beijing could do another U-run and put a lid on exports if domestic demand picks up. Any shortfall in cargoes from China at a time when ...

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Russia boosts LNG exports to Europe by 20% in 2022 – Refinitiv

Russia supplied Europe with some 17 million tonnes of liquefied natural gas (LNG) last year, up about 20% from 2021 volumes, Refinitiv Eikon data showed on Tuesday, partially offsetting a steep decline in Russian pipeline gas exports. Europe has been boosting imports of seaborne LNG – gas transported in liquid form at minus 160 degrees Celsius (minus 256 Fahrenheit) – amid a cut in pipeline gas supplies from Russia due to a deep political crisis over Ukraine. At the same time, Russia increased its total LNG exports in 2022 by ...

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Export curbs fail to arrest India’s booming rice shipments -sources

India’s rice exports in 2022 jumped to a record high despite the government’s curbs on overseas sale, as buyers continued to make purchases from the South Asian country because of competitive prices, according to government and industry officials. The record exports allowed Asian and African countries to import the staple at a time when supplies of wheat and other grains were hit by drought and Russia’s invasion of Ukraine. India, the world’s biggest rice exporter, in September banned exports of broken rice and slapped a 20% export tax on some ...

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