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Sunday, July 12, 2020

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...

Will Chinese Crude Demand Burst In 2017?

The OPEC deal might have revived oil prices for now, but a combination of elevated inventories and the threat of lower demand growth in China in 2017 could come back to spook oil markets as they recover steadily. China’s strong crude demand has prevented oil...

Oil traders may face 'big punishment' if OPEC doesn't deliver output cuts

Speculators have been increasing their bets that oil prices will rise, setting up a punishing outcome if OPEC's production cuts disappoint, Again Capital founding partner John Kilduff said Thursday. OPEC not only faces the challenge of getting its own members to deliver the promised cuts....

Oil & Gas IPO’s To Spike in 2017

2017 could be a banner year for oil and gas companies who are looking for fresh equity. According to Tudor Pickering Holt & Co., as many as 40 oil and gas companies could launch IPOs in the New Year, as rising oil prices spark...

Oil stays at $53 as rise in U.S. inventory slows upswing

Oil prices steadied on Thursday after a surprise increase in U.S. inventories helped stall an upward trend that has pushed global crude benchmarks to their highest levels since July last year. U.S. light, sweet crude was down 16 cents at $53.90 by 10:21 a.m. ET...

Iran stops oil supplies to Britain, France

Iran has cut off its oil supplies to the United Kingdom and France.The move was confirmed by the country’s Oil Ministry, with the spokesman saying that Iran will be “selling its oil to new customers”.Earlier this year, the European Union decided to enforce a...
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