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India urges OPEC to boost oil exports, wants sustainable prices

India, the world’s third-biggest oil consumer and importer, on Wednesday urged OPEC nations to fill a supply gap and ensure sustainable oil prices as geopolitics affect the output of some producers. The world faces likely lower oil exports from Iran, OPEC’s third-biggest producer, after U.S. President Donald Trump pulled out of a 2015 nuclear accord with a vow to renew sanctions against Tehran. India is the biggest oil client of Iran after China. “Political conditions, sometimes internal and sometimes external, result in reduced output of some countries. We expect from ...

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Japan receives no offers for regular feed-wheat, barley tender

Japan’s Ministry of Agriculture, Forestry and Fisheries (MAFF) said it received no offers for feed-quality wheat or barley in a simultaneous buy and sell (SBS) auction that closed late on Wednesday. The ministry had sought 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley to be loaded by Sept. 28 and arrive in Japan by Nov. 30 in the tender that is usually conducted weekly. It is seeking the same amounts for each grain to be loaded and shipped during the same period in a similar tender that ...

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S.Korea’s two utilities seek to buy coal via spot, term tenders

Korea Western Power Co Ltd (WP) and Korea Southern Power Co Ltd (KOSPO) are seeking to buy coal via separate spot and term tenders, the two state-run utilities said. WP issued a bid to purchase a total of 372,000 tonnes of coal for loading between August and October, while KOSPO tendered to buy 160,000 tonnes of coal for September loading and 580,000 tonnes per year of coal from January 2019 through June 2021, according to their website. Details of the tenders including bid closing date are as follows: --WP tender ...

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BHP offers August loading LNG cargo from Australia export plant: sources

Global mining and resources company BHP is offering to sell a liquefied natural gas (LNG) cargo from its North West Shelf export plant in Australia, two trade sources said on Tuesday. The cargo will load over the Aug. 15-17 period and is offered on a free-on-board basis, they said. Bids are due by June 20 and will remain valid until June 21, one of the sources said. Source: Reuters (Reporting by Jessica Jaganathan; Editing by Kenneth Maxwell)

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Russian coal exports at record high

Russian coal deliveries by rail for export rose to a new record high in May, despite active phase of rail maintenance that started in April and intensified last month. Coal deliveries by rail for export increased by around 400,000t on the month and by 130,000t on the year, to 17.8mn t in May amid higher supplies through overland border crossings, which offset lower deliveries to ports. But supplies may decrease this month amid a lack of available railcars for coal loading, repairs at large northwestern port and ban on deliveries ...

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China tariff threat could be a boon for Gulf oil exports

Gulf oil producers may benefit from China’s threat to impose import tariffs on US crude and other energy products, as key exporters meet to discuss production increases later this week. China, one of the largest buyers of US crude oil surprised many late last week when it announced plans to tax such imports, as part of retaliatory measures following the decision by US President Donald Trump to impose $50 billion worth of tariffs on a variety of US goods. The announcement comes as China looks for a different oil supply ...

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Egypt purchases initial LNG volumes via 9-cargo tender -traders

Egyptian Natural Gas Holding has likely purchased a portion of the nine liquefied natural gas (LNG) cargoes it sought via a tender for delivery between July and August, trade sources said. Estimated prices for the cargoes range upward of $11 per million British thermal units (mmBtu), or around 15 percent of a barrel of Brent crude oil, according to traders. ** Spot Asian LNG prices LNG-AS for July delivery rose to fresh four-year highs of $11.60 per mmBtu last week due to competition for cargoes from South America, Middle East ...

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Upstream issues may hinder Australia from meeting Asian thermal coal demand: report

Asia’s import demand for seaborne-traded thermal coal is expected to grow by about 55%, and equivalent to 400 million mt, over 2017-2030 to 1.14 billion mt, the Minerals Council of Australia said in a report. India and Indonesia are seen as demand centers by the report’s authors, Commodity Insights analysts, and the forecast rise in demand is double Australia’s current thermal coal exports of 200 million mt. “Demand growth is evenly spread across the region, with all countries except Japan increasing imports across the period, and growth in Chinese demand ...

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Panama joins ranks of LNG importers, trade hub for Central America

Panama has imported its first liquefied natural gas (LNG) cargo to commission the newly built $1 billion Costa Norte facility and power plant at Colon, expected to be a launch-pad for LNG trade across Central America. Many utilities in Central America and the Caribbean remain reliant on burning oil to generate electricity, but LNG offers a cleaner, cheaper and more efficient alternative. Shipping data shows the Engie-chartered Provalys tanker arrived last week, carrying a cargo exported from the Sabine Pass plant in Louisiana in March. AES Panama, a unit of ...

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Gazprom Marketing & Trading seeks to sell Cameroon LNG cargo -trade sources

Gazprom Marketing & Trading is seeking to sell a commissioning liquefied natural gas (LNG) cargo from a new Cameroon export project via a tender, trade sources said. The cargo is offered on a delivered basis and has a wide loading and delivery window, reflecting uncertainties around the pace of output from the plant, which is still commissioning, or starting up, the traders said. However, a source said that Gazprom was offering delivery into the Far East for the end of July. This will be the third cargo exported from the ...

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ExxonMobil Papua New Guinea LNG export plant offers cargo for July: sources

ExxonMobil’s Papua New Guinea liquefied natural gas (LNG) export plant has offered a cargo for July delivery, two industry sources said on Tuesday. The cargo is being offered on a delivered ex-ship (DES) or free-on-board (FOB) basis, one of the sources said. It will load from the plant around July 6-7 and will arrive in Japan or Taiwan over July 15-22, or into South Korea or China over July 16-23 or into Dahej, India on July 20, the source added. Bids are due by June 20 and will remain valid ...

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Egypt says buys 3.4mln tonnes of local wheat so far this season

Egypt, one of the world’s top wheat importers, said on Tuesday it had bought 3.4 million tonnes of its local production of the grain so far this season. Wheat strategic reserves are at 4.4 months, Supply Minister Ali Moselhi told Reuters. Source: Reuters (Reporting By Momen Saeed Atallah Writing By Maha El Dahan)

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China raises import duty on US denatured ethanol to 70% from 45% as of July 6

China’s ministry of commerce said the import duty on US-origin denatured ethanol will rise to 70% on July 6 from 45%, as part of a wider retaliation to the US imposing import tariffs on Chinese goods. Other agriculture products such as sorghum, soybeans and wheat were also subjected to the additional 25 percentage points import duty. The higher import duty will keep the arbitrage window closed for the remainder of the year for exports of US fuel ethanol to China, trade sources said. “With 45% import duties since April, arbitrage ...

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Japan offers to buy 91,188 tonnes of food wheat via tender

Japan’s Ministry of Agriculture is seeking to buy 91,188 tonnes of food-quality wheat from the United States and Australia in a regular tender that will close late on Thursday. The ministry said on Friday it has suspended its tender and sale of wheat from Canada after grain containing a genetically modified trait was discovered last summer in Canada’s Alberta province. Japan, the world’s sixth-biggest wheat importer, keeps a tight grip on imports of the country’s second-most important staple after rice, and buys the majority of the grain for milling via ...

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Bunge in talks with traders to sell 300,000 tonnes of raw sugar

U.S.-based food processor Bunge Ltd is in talks with major sugar traders looking for the best terms to sell around 300,000 tonnes of raw sugar to be produced by its Brazilian unit as part of the 2018-19 crop, a Bunge executive told Reuters. Bunge announced earlier this year that it was closing its global sugar trading desk. With the move, an additional volume produced in Brazil that would normally be traded by Bunge overseas will have to be delivered to other traders such as Alvean and RAW. Geovane Dilkin Consul, ...

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