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...

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...

The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Friday: ** Sony Pictures Entertainment (SPE) and Apollo Global Management have actually made a $26 billion money deal for Paramount Global, the Wall Street Journal reported. ** Britain's competitors watchdog stated that Pennon Group's. acquisition of Sutton and East Surrey (SES) Water could. hurt the water regulator's capability to make contrasts in between. water companies. ** The UK's competitors regulator launched an in-depth probe. into Lindab's acquisition of British ventilation. company HAS-Vent, after the Swedish company did not provide any. undertaking following the guard dog's initial investigation....

Zinc production at Nyrstar's Budel smelting operations in the Netherlands will resume during the week of May 13, partly because of higher prices for the metal used to galvanise steel, the company owned by product trader Trafigura said on Tuesday. The Budel smelter, with capability to produce 315,000 metric lots each year, was suspended in the 2nd half of January and will restart at reduced capacity. This decision (to reboot) follows a comprehensive and comprehensive evaluation and reflects current enhancements in market conditions and the short-term reinstatement of indirect cost compensation in the Netherlands that will help reduce Nyrstar Budel's...

Need for melted gas (LNG) to power ships will rise this year on appealing rates, while more dualfuel vessels join the international fleet, market executives said. Prices of LNG delivered as marine fuel at the world's. biggest bunker hub Singapore are at high discounts of nearly. $ 100 per metric load compared to traditional 0.5% very low. sulphur fuel oil (VLSFO), industry sources said. That is a far cry from record premiums of more than $1,000 a. ton seen in September 2023, based on data from S&P Global Platts. published on market union SEA-LNG's site, after Russia. triggered a worldwide...

Lead inventories in London Metal Exchange authorized warehouses have jumped by 49% over 2 days to their highest level considering that March 2013, LME information showed on Tuesday. Inflows of 91,025 metric loads were most likely to be from celebrations providing against brief or bearish positions ahead of Wednesday's November agreement expiry, analysts said. LME information reveals 2 celebrations each holding a significant short position in November- one accounting for more than 40 %of market open interest and another one for 10% -19%. On the other side of the marketplace are 4 long> positions, where one celebration holds up to...

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...

Foreign direct financial investment ( FDI) into Indonesia increased 18.55% in the third quarter from a. year earlier to 232.65 trillion rupiah ($ 14.94 billion), the. financial investment ministry said on Tuesday. That compares with a 16.6% annual increase in the 2nd. quarter. The data excludes investment in the financial and oil. and gas sectors. FDI has actually been increasing in Southeast Asia's biggest economy,. especially in the mining and metal refining sectors, because it. prohibited exports of nickel ore in 2020 as part of the federal government's. efforts to draw in investors in the electrical automobile (EV) supply. chain....

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...

Abaxx Technologies Inc. , which owns a new Singaporebased commodities. exchange, has actually sealed a strategic partnership with. Canadianlisted MineHub Technologies Inc, the. companies stated on Thursday. Under a share exchange deal, Abaxx will acquire 10.9% of. MineHub, a joint statement stated. On June 28, Abaxx Exchange started selling liquefied. gas (LNG) and carbon futures, but postponed the launch of. its contract for nickel sulphate. Abaxx had initially planned to release the world's very first. futures contract for nickel sulphate at the exact same time as the. other 2 contracts. MineHub, which has actually digitised trade financing and logistics in....

The Indonesian government is carrying out an extensive evaluation relating to the termination of permits for the RKEF smelters which make products in the kind of ferronickel and nickel pig iron, a mining ministry authorities stated on Tuesday. The world's greatest nickel producer is experiencing a fast deficiency of ore after a rise in downstream investment, prompting the government to seek methods to reserve stocks for higher value included products such as the nickel chemicals utilized in making batteries for electric lorries. Irwandy Arif, a senior official with the Energy and Mineral Resources Ministry, stated the federal government is concentrated...

Investors of nickel miner PT Vale Indonesia on Monday voted to reappoint Febriany Eddy as CEO, ahead of state miner MIND ID raising its stake in the group to become its bulk investor, the business stated. Vale and MIND ID said when the state mining group's planned acquisition of a 14% stake in Vale Indonesia from Vale Canada and Sumitomo Metal Mining was announced in February that they would concur board positions as the offer progressed. Eddy and a variety of brand-new appointees will sit as the new board of directors from the closure of MIND ID deals - anticipated...

Australian Treasurer Jim Chalmers has actually bought a number of Chinalinked financiers to dispose of shares in uncommon earths miner Northern Minerals on nationwide interest premises under a foreign financial investment law, a. representative stated on Monday. Northern Minerals is establishing the Browns Variety heavy uncommon. earths project in Western Australia, at a time when the sector. has become progressively strategic for its usages in green energy. and defence. The mine has actually been cited as a prospective source of feed for. Iluka Resources' Eneabba unusual earths refinery under. construction in Western Australia, which currently has a A$ 1. billion...

The following quotes, mergers, acquisitions and disposals were reported by 1330 GMT on Friday: ** Hess shareholders cast 157.6 million 'yes' votes in favor of its sale to Chevron, a Securities and Exchange Commission filing showed, 3 million more than needed to pass. ** Soho Home Co said that its board has dissolved an unique committee that had actually been established to assess certain tactical offers, including the possibility of going personal. ** UBS completed the merger of the main parent companies of the Swiss bank and Credit Suisse, which it got last year after its longtime competitor collapsed, putting...

The following are the top stories in the Financial Times. has actually not confirmed these stories and does not vouch for their accuracy. Headings - ArcelorMittal seeks to safeguard its operations at UK docks - EU prepares tariffs on Russian products exempt from sanctions - Autonomy's Mike Lynch plays down understanding of declared scams ahead of HP sale - Brookfield in talk with purchase France's Neoen for 6.1 bln euros Introduction - ArcelorMittal on Thursday gotten in touch with the next British government to obstruct the Medway council in Kent from offering its approval for the redevelopment of Chatham Docks...

The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday: ** Anglo American rejected BHP Group's. last-ditch request for more time to go over a $49 billion. takeover deal, dismissing it as extremely complex and ending a. five-week pursuit by the bigger rival. ** A consortium of U.S. financial investment firm KKR and. Singapore Telecommunications (SingTel) has become. the frontrunner to purchase a minority stake worth $1 billion in one. of Asia's biggest information centre companies, two sources stated. ** The owner of Britain's Royal Mail has accepted a 3.57. billion pound ($ 4.55 billion) takeover...

There was little caution of the mayhem that was to come as passengers on Singapore Airlines flight SQ321 relaxed with just three hours to Singapore after a long haul flight from London. However as the Boeing 777-300R overlooked Myanmar it unexpectedly hit extreme turbulence, extremely tossing travelers, flight attendants and meals around the cabin. Unexpectedly the aircraft begins tilting up and there was shaking, Malaysian student Dzafran Azmir said. The 28-year-old braced himself and inspected he had his seatbelt on. He did. A lot of the other guests did not, he said. There was a really remarkable drop so everybody...