Singapore

Iraq's fuel oil exports are on track to strike alltime highs this year after the country increase shipments in October, as domestic demand reduced while output rose, according to industry sources and shiptracking information. The increase in exports of the residue fuel will support oil earnings for the Company of the Petroleum Exporting Countries' (OPEC's) second-largest producer despite stagnant crude deliveries this year, due to production caps under quotas set by OPEC and its allies, or OPEC+. Higher exports from Iraq will likewise contribute to international supply and ease elevated costs in Asia while lowering feedstock expenses at refineries. Exports...

Singapore's middle distillates stocks increased for the third straight week as web exports of both jet fuel and diesel slipped amid increasing imports, main government information showed on Thursday. Stock levels of diesel/gasoil and jet fuel/kerosene at key oil storage hub Singapore climbed to a little above 9.6 million barrels for the week ended Nov. 13, compared to 9.569 million barrels in the previous week, data from Business Singapore showed. Net exports of diesel/gasoil and jet fuel/kerosene both fell by 60-70% week-on-week. For diesel/gasoil, the circumstance was more exacerbated by a swell up in total imports, as India, South Korea...

Singapore's middle extracts stockpiles fell 4% weekonweek to below 11 million barrels as an increase in jet fuel/kerosene net exports outweighed gains in diesel/kerosene net exports, main data showed on Thursday. Stocks of diesel/gasoil and jet fuel/kerosene at secret oil storage center Singapore were at 10.919 million barrels for the week ended Sept. 11, a little down from 11.374 million barrels a. week back, information from Enterprise Singapore showed. For jet fuel/kerosene, net exports surged nearly ten-fold. from a week earlier as total imports went back to almost. negligible levels. Total exports continued to drain of Singapore to numerous. local...

2 head traders at Trafigura's iron ore team in China just recently left the product group, 7 sources with knowledge of the matter said. It was not right away clear whether the people leaving would be changed, but the departures came after global rates of the key steel-making active ingredient tumbled almost 40% due to faltering demand in top customer China. The two departures were Julian Ho, head of iron ore trading for Trafigura in China and Yang Naizhang, a senior trader who was also previously co-head of Trafigura's iron ore group in China, three of the sources with understanding...

Products trading business Trafigura has extended the notice period for traders leaving the company to a minimum of 6 months or approximately one year, three sources with knowledge of the matter said, after current worker departures. It is not known precisely when changes were made to extend the notice period, but the sources said they use to new and existing workers and depend on seniority levels. A longer notice duration might dissuade traders from using to operate at Trafigura, among the sources said. Trafigura declined to comment. Energy traders consisting of Mercuria, Gunvor and Vitol are going back to trading...

Singapore's. Temasek Holdings is settling the sale of some possessions from. melted gas (LNG) trading firm Structure Energy to. Shell with a deal set to be finished in the coming days, two. sources with knowledge of the matter stated. The deal will provide Shell, already the world's leading LNG. trader, with access to gas markets in Europe and Singapore as it. strongly expands its LNG footprint after generating billions. of profits last year. The deal's value will remain in the numerous countless U.S. dollars, one of the sources said. That would be listed below what. Temasek had actually initially sought...

International commodities trader Glencore has won a tender to provide petroleum to Prax's. 113,000 barrel per day Lindsey oil refinery in Britain,. replacing rival trader Trafigura, 3 sources with knowledge. of the deal informed . The deal boosts Glencore's oil trading operation, and. follows the current joint acquisition of Shell's Singapore. refinery and petrochemical assets with Chandra Asri. UK-based independent oil business Prax selected one of the most. commercially advantageous offer in a tender procedure that. begun in the 4th quarter of in 2015, according to a. declaration released to . The business decreased to reveal. information of the contract,...

Commodity trader Trafigura has settled a suit filed by a company owned by home and metals magnates the Reuben bros, Trafigura stated on Wednesday, in a case linked to a continuous supposed nickel scams case. The case was an off-shoot of a larger legal action in which Geneva-based Trafigura submitted a claim in 2015 against entrepreneur Prateek Gupta, declaring methodical scams involving what were supposed to be nickel cargoes. Hyphen Trading Ltd required $8.4 million in damages last year from Trafigura, stating it had paid Trafigura for 404 metric tonnes of nickel, but never ever received it. The Hyphen lawsuit...

The following bids, mergers, acquisitions and disposals were reported by 1930 GMT on Wednesday: ** A consortium consisting of CVC Advisers and the Abu Dhabi Investment Authority stated it was considering a possible modified deal for Hargreaves Lansdown after the British financial investment platform's board turned down a buyout proposal it had made in April. ** French media and business conglomerate Lagardere said it is moving closer to a sale of its Paris Match magazine to luxury products huge LVMH, on an enterprise worth cost of 120 million euros ($ 130 million). ** Cross-border mergers between European banks are structurally...

The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Wednesday: ** BHP's quote for Anglo American underlines the growing appetite for energy transition metals like copper from miners who should become more aggressive to secure new projects or risk missing out, investors and mining CEOs said. ** Abu Dhabi National Oil Company (ADNOC) has actually obtained a 10%. stake in Galp's Location 4 concession in the. multi-billion-dollar natural gas job in the Rovuma basin in. Mozambique, it stated, its very first venture into the African nation. ** Admiral Acquisition will purchase North American. engineering and lab-testing...

Commodity traders Trafigura and IXM are looking to purchase physical copper to provide versus large short positions on U.S. exchange CME where copper prices soared to tape-record highs on Wednesday, five sources with direct knowledge of the matter said. Brief positions can be bets on lower rates or manufacturers hedging their output. A short capture takes place when celebrations holding such positions are forced to buy them back at a loss or deliver physical copper to close them out. Copper costs on COMEX, part of the CME Group, strike a record peak of $5.1775 a pound or $11,414 a metric...

A consortium that consists of Swiss miner and products trader Glencore and Indonesia's PT Chandra Asri Pacific remains in sophisticated speak to buy Shell's. oil refinery and petrochemical systems in Singapore, in a. offer that could be worth about $1 billion, Bloomberg News. reported on Friday. The parties are working on the details of a deal that. could be announced as soon as the coming weeks, Bloomberg. reported, mentioning individuals with understanding of the matter. The possessions consist of a refinery capable of processing 237,000. barrels daily (bpd) of oil and a 1-million-metric-ton-per-year. ethylene plant situated on Bukom island, just...

On Thailand's eastern coast, strategies are underway to develop an electric arc heater that will provide green steel to Europe and benefit from controversial brand-new guidelines that will require buyers to pay tariffs on highcarbon imports. Federal governments and market associations in Asia have lobbied ferociously against Europe's Carbon Border Change Mechanism ( CBAM) and it could cast a shadow over COP29 environment talks in Baku, Azerbaijan, next week, with China and others calling for an end to green trade barriers. CBAM was created to stop European companies averting carbon compliance expenses by sourcing commodities from regions with laxer ecological...

Rwanda's financial policy can remain accommodative as inflation is expected to stay under 5% through 2025, National Bank of Rwanda guv John Rwangombwa stated on Thursday. Speaking to Reuters on the sidelines of a fintech occasion in Singapore, Rwangombwa also said growth in the East African nation was expected to come in above 8% this year. Our monetary policy position is anticipated to remain accommodative, he stated when inquired about the central bank's. alleviating cycle. The reserve bank has cut its policy rate by 50 basis points. at each of its previous two conferences, taking the rate to 6.5%. So...

Efforts by the United States and others to encourage more nations to contribute to a. new global environment funding effort risks undermining the. Paris contract, Singapore's Environment Minister Grace Fu informed. Reuters on Wednesday. Almost 200 countries will gather in Baku, Azerbaijan for COP29. environment talks on Monday to thrash out the details of an offer. known as the New Collective Measured Objective, designed to provide. billions of dollars of climate finance to the regions that need. it the most. However the United States, Europe and others will just commit to. the fund if the list of nations adding to...

storyp1> SINGAPORE, Oct 17 (Reuters) Countries require a new global pact to repair an installing water crisis that could cut economic development by a minimum of 8% and put half the world's food supplies at threat by 2050, an OECDbacked commission said on Thursday. Climate modification, devastating land use and chronic mismanagement has put the international water cycle under unmatched tension, stated the Global Commission on the Economics of Water (GCEW), a two-year research initiative set up by the Netherlands in 2022. Densely populated areas like northwestern India, northeastern China and southern and eastern Europe are especially vulnerable to water...

President Joe Biden and Vice President Kamala Harris took a trip on Wednesday to South Carolina, North Carolina and Georgia to evaluate the devastation wrought by Typhoon Helene in the U.S. Southeast, which has actually eliminated at least 160. Biden arrived at Wednesday afternoon in Greer, South Carolina, where he was fulfilled by South Carolina Guv Henry McMaster, U.S. Senator Lindsey Graham and North Carolina Guv Roy Cooper, among others, before boarding Marine One for an aerial tour of the area. From the helicopter, which traveled north-by-northeast, Biden could see the grim destruction gave North Carolina locations, including Asheville and...

Pope Francis on Thursday urged political leaders in Singapore, a leading international financial center, to look for fair wages for the country's millionplus lowerpaid foreign employees. In most likely the last major speech of an enthusiastic 12-day tour across Southeast Asia and Oceania, the 87-year-old pontiff expressed concern for Singapore's quickly ageing population and its migrant labor force, centred in the building and construction and domestic services markets. I hope that special attention will be paid to the bad and the senior ... in addition to securing the self-respect of migrant employees, the pope stated in an address to about...

Pope Francis got here in Singapore on Wednesday afternoon from East Timor, where he is expected to focus on interfaith discussion and reinforce the Catholic Church's presence in a region where it is a small minority. The pope is on the final leg of an ambitious 12-day journey across Southeast Asia and Oceania, the longest trip of his papacy. His two-night stay in the city-state, an international financial hub, will consist of a speech to the country's political authorities, where the pope might also deal with problems such as wealth inequality and climate change. Francis will likewise commemorate a Mass...

Pope Francis got here in Papua New Guinea on Friday night from Indonesia, where the 87yearold leader of the international Catholic Church will continue an enthusiastic 12day tour throughout Southeast Asia and Oceania. The Garuda Indonesia plane bring the pope and his entourage showed up in Port Moresby, the Papua New Guinean capital, where he will stay for the next 3 nights. The pontiff, leaving the aircraft using his wheelchair, was satisfied on the tarmac by Deputy Prime Minister John Rosso and senior members of the Catholic Church in the country. Local children presented him with presents as a military...

Here are some statistics about Pope Francis, 87, who is in the midst of a 33,000 km (20,500 mile). tour of four Southeast Asian nations. WHEN WAS POPE FRANCIS ELECTED? The previous Cardinal Jorge Mario Bergoglio of Argentina was. elected pope on March 13, 2013. He is the 266th pontiff and the. first from Latin America, in addition to the first to take the name. Francis. FOR HOW LONG HAS FRANCIS BEEN POPE? At more than 11 years, Francis' reign currently goes beyond the. 7-1/2- year average. He is likewise the earliest incumbent since Leo. XIII, who was 93 at...

Pope Francis left Indonesia on Friday early morning for Papua New Guinea, where the 87yearold leader of the international Catholic Church will continue an enthusiastic 12day trip across Southeast Asia and Oceania. The Garuda Indonesia aircraft bring the pope and his entourage left Jakarta's airport for the flight to Port Moresby, the Papua New Guinean capital, where he will remain for the next 3 nights. While in PNG Francis will make an excursion to the northwestern town of Vanimo, before departing the nation on Monday. He is then arranged to visit East Timor and Singapore before returning to Rome on...

Pope Francis on Thursday invited Muslims and Catholics to press worldwide leaders to challenge the dangers of climate change and extremism, and spoke of the typical roots of various faiths as he checked out Southeast Asia's biggest mosque in Jakarta. In a day laden with spiritual importance on his journey to Indonesia, the world's most populated Muslim-majority country, the pope provided a joint statement with the national grand imam and other local faith leaders that called for definitive action to deal with the warming planet. The human exploitation of creation, our typical home, has contributed to environment change, leading to...

Climate change will be high on the agenda as Pope Francis embarks on his longest ever foreign journey on Monday, visiting Indonesia, Papua New Guinea, East Timor and Singapore over 12 days. Following are some of the environment difficulties dealing with the nations on his travel plan. INCREASING WATER LEVEL Pope Francis has cautioned rising sea levels will indicate lots of populations will probably need to move their homes in a few years. This is currently occurring in Indonesia, with its largely populated and low-lying seaside regions at danger from subsidence and flooding. It is currently relocating its nationwide capital...