Impact Of New IMO Regulations On Arabian Gulf’s Oil Export Dynamics

The Arab Petroleum Investments Corporation (APICORP), the multilateral development bank focused on the energy sector, published its latest research report today, which this month analyses the impact on the Gulf’s oil dynamics of new fuel oil regulations for the shipping industry set by the International Maritime Organisation. The International Maritime Organisation (IMO) – a specialised
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HENNAI: Export of Ready Made Garments (RMG) continued its southward journey, recording a drop of 12.12 per cent to $6.61 billion from $7.522 billion from April to August in the corresponding time period last year due to the impact of the GST and the reduction in duty drawback. The year started with a 22.78 per
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NEW DELHI: India recently decided to defer for the third time tit-for-tat retaliatory tariffs against 29 American products worth $235 million that were to come into effect on 18th September to counter the US move to unilaterally raise import duties on Indian steel and aluminium products, said a person with knowledge of the development. The
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Reacting to the August 2018 trade data, the FIEO President, Mr Ganesh Kumar Gupta, highlighted that exports have shown a high double-digit growth for four months in a row. However, while some of the MSME sectors of exports have come into positive territory, including gems and jewellery, leather and leather products, cotton yarn/fabs/made-ups, handicrafts excluding
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According to industry consultant FGE, Iran’s own fleet of tankers may provide a lifeline for its crude and condensate exports that are due to be slashed as US sanctions against the Persian Gulf nation take shape. According to a recent FGE note, Iran could easily transport the entirety of its exports using its own fleet
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Russia aims to increase crude oil export and transit in the fourth quarter of 2018 to 63.8 million tonnes from 63.3 million tonnes planned for July-September, according to the Russian Energy Ministry’s quarterly schedule seen by Reuters. As a result, Russia plans to increase crude oil export and transit by 1 percent on a daily
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The Government has relaxed the norms for exported electronic goods, like mobile phone, colour TV, certain medical devices, which need to be imported back for repairs. As per the notification issued by the Central Board of Indirect Taxes and Customs (CBIC), these goods can be imported duty-free with the condition that they will be re-exported
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 A faster rise in exports and slightly slower growth in inbound shipments led to India’s trade deficit reducing in August from a six-month high in July. The trade deficit in August was $17.4 billion, compared to $18.2 billion in July. This was due to slower growth in the crucial crude oil import bill, which rose
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The U.S. will find it difficult to cut Iran’s oil exports completely as the oil market is already tight and rival producers cannot make up the shortfall, a top Iranian official said on Friday. Washington is seeking to cut Iranian oil exports to zero by November as it reimposes sanctions, and is encouraging other producers
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Indian refiners are preparing to cut daily Iranian crude oil imports nearly in half in September and October compared with the daily imports for April-August, according to data gathered by Reuters from industry and trade sources. Even with the reductions for this month and next, India refiners will still import about 73 percent of their
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