Iran’s Asian crude buyers to cutback ‘substantially’ says BMI

Asian buyers of Iranian crude are likely to reduce their off-take substantially over the coming quarters on the expectation of a re-imposition of US sanctions and uncertainty over the provision of waivers from Washington, research firm BMI said in a note. Oil exporters in the Middle East such as Saudi Arabia, Iraq, the UAE and
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China imported 146 million mt of coal and lignite in the first half of 2018, up 9.9% from the previous year and a three-year high, according to preliminary data released Friday by the General Administration of Customs. In June China imported 25.5 million mt of coal, up 17.9% on the year and 14% on the
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China’s iron ore imports dropped 11.6 percent in June from the previous month, customs data showed on Friday, hit as Beijing intensifies its push to clean up the country’s environment and by mounting stockpiles at ports. Arrivals into the world’s top importer of the steelmaking material reached 83.24 million tonnes last month, according to the
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The growth in crude oil demand from China’s independent refiners is expected to take a hit in 2018 as tighter tax regulations take hold, forcing them to cut utilization rates, lower throughput and eventually trim crude purchases. This threatens China’s overall crude imports and ultimately global oil demand growth, as independent refiners pretty much propelled
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A supply glut in the Asian gasoline market has prompted market participants to look further afield to clear the length, with Mexico and the US West Coast as main arbitrage destinations, trade sources said this week. To date, up to 175,000 mt, in five MR vessels, were scheduled to load in July from Singapore and
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MUMBAI: With the Country  inching towards a firm and transparent indirect tax mechanism with introduction of GST a year ago, it is necessary to contemplate the effects and issues still remaining in the system, for the larger interest of the industry as well as the common people, as envisaged by the Government. The Federation of
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Inpex said on Wednesday it expects to ship first liquefied natural gas (LNG) cargo from its Ichthys project in Australia by end of September after safety issues resolved, maintaining earlier schedule. Australian regulators had found some safety problems on the Ichthys offshore gas platform and was considering enforcement action. Ichthys to start production after further
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A majority of Indian and foreign investors consider that high oil prices have emerged as a significant risk to the Country’s economy, Moody’s Investors Service said recently. The US rating agency’s report is based on a survey of 175 respondents, including from over 100 financial institutions at the annual India Credit Conference in Mumbai and
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Freight forwarders that suffered operational damage and incurred significant additional costs as a result of the disruption to operations at the UK port of Felixstowe following the introduction of a new operating system in June have been warned that they are unlikely to receive any compensation from the port’s owners. Mr Robert Keen, Director-General of
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 India’s foreign exchange reserves declined by USD 2.25 billion to USD 407.81 billion in the week to June 22 on account of fall in foreign currency assets, Reserve Bank of India (RBI) data showed. In the previous week, reserves had decreased by USD 3.04 billion to USD 410.07 billion. Forex reserves had touched a record
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