Category Archives: General News

India: AP govt gives nod to LNG Terminal at Gangavaram Port

The Andhra Pradesh government has given its nod for setting up the LNG Terminal by Petronet LNG Ltd atGangavaram Port on the East Coast near Visakhapatnam. However, it has refused Gangavaram Port’s proposal to collect the water front charges at the rate of Rs 103.68 … Continue reading

Posted in General News, Local News, Shipping News | Leave a comment

India: Sesa Sterlite posts Rs375.56 crore profit in Q1

Vedanta Resources Plc’s flagship Sesa Sterlite Ltd on Tuesday reported June quarter net profit at Rs.375.56 crore on revenue of Rs.17,186.55 crore. A Bloomberg survey of 16 analysts saw net profit at Rs.1,235.8 crore on net sales of Rs.17,209.6 crore. … Continue reading

Posted in General News, Local News | Leave a comment

Indonesian thermal coal prices largely stable due to holidays

Indonesian thermal coal prices remained largely stable Tuesday as many market participants in Indonesia were away from their desks due to Ramadan holidays set to last until August 4, sources said Tuesday. Platts assessed the price of FOB Kalimantan 4,200 … Continue reading

Posted in General News | Leave a comment

Oil near $108 as ample supply offsets global unrest

Brent crude ended slightly higher on Tuesday as new sanctions on Russia looked set to worsen relations between Moscow and the West, while U.S. prices slipped after a Kansas refinery fire curbed demand for WTI crude. Brent futures reversed early … Continue reading

Posted in General News | Leave a comment

U.S. Senator Says Changing Landscape Warrants Lifting Crude Oil Export Ban: Platts Energy Week

Although the recent U.S. Department of Commerce ruling that processed condensate can be exported under existing law is not a “game changer,” it is a “step in the right direction” toward liberalizing crude exports, the senior Republican on the Senate … Continue reading

Posted in General News | Leave a comment

Indian setback helping global iron ore miners

Foreign miners are a little surprised that India, enormously rich in iron ore, is becoming a major importer of the steel-making ingredient. The country could end up importing up to 15 million tonnes (mt) of ore this financial year, with JSW Steel alone … Continue reading

Posted in General News, Local News | Leave a comment

French utility turns away Russian thermal coal cargoes due to sanctions: sources

The trading arm of French utility EDF turned away Panamax cargoes of thermal coal from Russian producer Zarechnaya Coal due to EU sanctions against Russia, market sources said. Speculation was rife in the thermal coal market Thursday that Zarechnaya was … Continue reading

Posted in General News, Shipping News | Leave a comment

Asia thermal coal: CCI 1 and CCI 2 prices slump on sixth Shenhua price cut

Domestic thermal coal prices in China reacted quickly Monday to leading Chinese coal producer Shenhua’s latest Yuan 10/mt price cut — the sixth since late June — dropping by Yuan 4.50/mt and Yuan 7/mt respectively at the Qinhuangdao trading hub … Continue reading

Posted in General News | Leave a comment

Coal Reserves Offer No Relief for India’s Fuel Crunch

India sits on one of the world’s biggest coal reserves, yet its power stations are starved of the fuel with some idle and others running dangerously low on supplies. Coal accounts for nearly 60 per cent of the country’s electricity, … Continue reading

Posted in General News, Local News | Leave a comment

India Blocks WTO Agreement to Ease Trade Rules

India effectively blocked an international agreement on easing trade regulations last week, saying the effort to promote global trade should be linked to food security. At a meeting of the World Trade Organization in Geneva on Friday, India said it … Continue reading

Posted in General News, Local News | Leave a comment

Can OPEC Control World Oil Prices

It is the world’s most famous cartel OPEC that currently controls almost three quarters of the world’s crude oil, a commodity that, as of right now, industrialized nations cannot do without. OPEC is currently an organization comprised of 11 member … Continue reading

Posted in General News | Leave a comment

Nuclear deal prevents further drop in Iran’s crude exports: NIOC

Iran has not been able to benefit from lifting of insurance ban * Short-term agreement makes oil sale conditions unclear The only advantage to Iran of the agreement to extend the interim nuclear agreement with the West by four months … Continue reading

Posted in General News | Leave a comment

Greens call for shipping lanes

The Green Party wants to introduce compulsory shipping lanes for vessels operating along the coast. The policy was announced in Auckland on Sunday morning, as the party explained how it would protect beaches from oil spills. Co-leader Russel Norman said … Continue reading

Posted in General News | Leave a comment

China iron ore falls for 6th day to 1-mth low, down 3.1 pct on week

The price of imported iron ore sold in China fell for the sixth consecutive day to reach its lowest point in a month, with few positive signs to encourage buyers to make purchases. Iron ore with 62 percent grades for … Continue reading

Posted in General News | Leave a comment

Vietnam’s Jan-July crude oil exports rise 5.8 pct y/y – govt

Vietnam’s crude oil exports in the January-July period would rise 5.8 percent from the same period last year to an estimated 5.28 million tonnes, or 182,560 barrels per day (bpd), the government said on Friday. Oil product imports in the … Continue reading

Posted in General News | Leave a comment

France’s Wheat Exports in Question as Rain Spoils Quality

French soft wheat exports, the European Union’s biggest, are at risk of falling after grain cooperatives reported rain spoiled grain quality across the east and north of the country. Sprouting damage to wheat will hurt France’s ability to sell to … Continue reading

Posted in General News | Leave a comment

India not to increase duty on Sugar imports

The India Government has announced that the import duty on Sugar will not be hiked. Local mills have been demanding raising the duty to as much as 40% to help lift prices, which have been pressured by huge stocks. At … Continue reading

Posted in General News, Local News | Leave a comment

Indonesia to cut mineral export tax if miners pay smelter bond- official

Indonesia will cut the tax levied on mineral concentrate exports to less than 10 percent from 20-25 percent for miners that pay a bond as a guarantee they will build a smelter later, a government official said. The move will … Continue reading

Posted in General News | Leave a comment

ASIA SPOT LNG: Sep JKM ends week at $10.675/MMBtu amid thin buying interest

The Platts LNG Japan Korea Marker for September fell 5 cents on the week to close the Asian trading session at $10.675/MMBtu Friday amid thin buying interest. Bids were seen in the low $10s/MMBtu for September cargoes, against offers heard … Continue reading

Posted in Energy News, General News | Leave a comment

Japan June crude imports rise 1 pct, LNG up 5.9 pct

The volume of Japan’s customs-cleared crude oil imports rose 1 percent in June from the same month a year earlier, while liquefied natural gas (LNG) imports rose 5.9 percent reflecting firm gas demand for power output amid nuclear shutdowns. Japan, … Continue reading

Posted in Energy News, General News | Leave a comment

Nigeria Crude Oil output will be 3.13 mn per day by 2030: Mckinsey

Nigeria’s economy, especially its oil and gas sector, is likely to record good growth rate every year and by 2030 its liquid production will be 3.13 million barrels a day, according to a report by Mckinsey&Co. The oil-and-gas sector is … Continue reading

Posted in General News | Leave a comment

India’s Jan-June Iran oil imports climb by a third

India’s crude imports from Iran rose by a third in the first half of the year, data from trade sources showed, after the shipments were boosted following an interim deal to slow Tehran’s nuclear activity and ease Western sanctions. India, Iran’s top oil client … Continue reading

Posted in General News, Local News, Shipping News | Leave a comment

Iraq’s south oil exports rise to near-record, avoid northern conflict

Iraq’s oil exports from its southern terminals in July rose to a near-record rate, according to loading data and industry sources, remaining unaffected by fighting in other parts of the country. An advance by Sunni militants who seized swathes of … Continue reading

Posted in General News | Leave a comment

U.S. export sales offer latest sign grains could halt slide

A flurry of grain export sales to China and elsewhere since last week, totaling about 2 million tonnes, is the latest sign U.S. soybean and corn prices may be set to rebound from four-year lows. Calling a trend for prices … Continue reading

Posted in General News | Leave a comment