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Sunday, June 7, 2020

W. Africa Crude-Qua Iboe and Erha supported, Indian IOC issues tender

LONDON Feb 3 (Naija247news) - * Angolan President Jose Eduardo dos Santos confirmed on Friday he will not run in this year's presidential election, calling an end to 38 years as head of state, but he will retain control of the powerful ruling party. *...

China’s West African oil buying spree hits record in February

By Libby George LONDON, Feb 3 (Reuters) - China's red-hot crude oil buying will push its February loadings of West African crude to their highest in at least 13 years, a Reuters survey of traders and shipping data showed on Friday. Buying for China, led by state-run...

Libya’s oil head seeks investment to support output surge

Mustafa Sanalla says production could jump almost 70% if he can attract more money

Nigerian cargoes loading dwindles as tenders from India hits two million barrels

U.S. east coast refiners were also buying Nigerian crude. Nigerian cargoes loading in February dwindled to about a handful from almost 20 last week, but some were simply deferred to March loading, traders said. Also Tenders from India were a key outlet, with HPCL taking...

China’s crude oil futures dilemma – control or success?: Russell

The quiet demise of China's plans to launch a new crude oil futures contract shows the innate conflict of wanting the financial clout that comes with being the world's biggest commodity buyer, but also seeking to control the market. It has been a long-standing ambition...

Russia beats Saudi Arabia as China’s top crude oil supplier in 2016

Russia overtook Saudi Arabia in 2016 to became China's biggest crude oil supplier for the first year ever, customs data showed on Monday, boosted by robust demand from independent Chinese "teapot" refineries. Russian shipments surged nearly a quarter over 2015 to about 1.05 million barrels...

China quietly shelves plans to launch Shanghai crude oil futures

20 January 2017, Singapore/Beijing — China’s plans to create a new crude futures contract to compete with global pricing benchmarks have been shelved due to market resistance, five sources with knowledge of the matter said, dealing a blow to Shanghai’s ambitions to be a...

Crude oil lifting: Nigeria seeks long-term contracts

18 January 2017, FCT, Abuja – The Federal Government is planning to move Nigeria away from holding annual contracts for the award of contracts for the lifting of the nation’s crude oil. The plan is to replace this with long-term contracts that would see the...

China to import two million tonnes of corn in 2016/2017, down 37 pct year-on-year: think tank

China will import 2 million tonnes of corn in 2016/2017, down 37 percent from the previous year, the National Grain and Oils Information Center estimated in a daily report, as profits from imports have declined. Prices of domestic corn have declined to almost the same...

Oil prices on track for biggest yearly gain since 2009

LONDON (Reuters) - Oil prices are on track for their biggest annual gain since 2009 after the OPEC grouping and other major producers agreed to cut crude output to reduce a global supply overhang that has depressed prices for two years. U.S. benchmark West Texas...