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India mandates license for biofuel import and export category
Aug. 30, 2018

India mandates license for biofuel import and export

The Government of India yesterday imposed restrictions over the export of biofuel from the country. The Modi Government has mandated a license to carry out both import and export of biofuels. In a notification released by the Directorate General of Foreign Trade (DGFT), the export policy of biofuel was changed from free to restrict. Ethyl alcohol exports from India amounted to USD 276.35 million in 2017-18.

No end to PDVSA's problems category
Aug. 29, 2018

No end to PDVSA's problems

According to the sources, after the tanker collision incident on the weekend, Jose port of Venezuela is partially operating at present. This has restrained upgraded crude export ability of PDVSA and also affected the import diluents capacity. Present fiscal year has seen PDVSA struggling to provide exports on time due to the US sanctions, sinking oil output, and creditors trying to take hold of overseas assets through legal action.

Reliance cancels VGO cargo buy category
Aug. 17, 2018
Source: Reuters

Reliance cancels VGO cargo buy

Sources have revealed that refinery giant, Reliance, forced by the shutdown of its gasoline making unit, has cancelled lifting of vacuum gas oil (VGO) cargo from local refiner Nayara Energy (formerly Essar Oil). Reliance was planning to lift 40,000 tonnes of VGO from Nayara’s Vadinar refinery this month, the sources said. Reliance reportedly announced force majeure on exports of gasoline from its Jamnagar refinery this week.

Trafigura submits proposal for deepwater port category
Aug. 7, 2018

Trafigura submits proposal for deepwater port

Trafigura, Singapore’s commodities trader, said that it has applied to build a deepwater port in Texas, capable of loading supertankers. The firm applied for the permit via its subsidiary Texas Gulf Terminals. Trafigura is looking forward to supplying the required oil export infrastructure to the US. Though the US is the second-biggest crude producer in the world, the country has failed in keeping up with its export infrastructure.

Iran's oil exporters have banner April before possible sanctions category
May 3, 2018

Iran's oil exporters have banner April before possible sanctions

Iran’s crude exporters recorded a rocket spike in shipments in April, 2.62 MMbpd in total, before the possible re-imposition of U.S. sanctions on their oil sales.The U.S. President will decide by May 12 whether to keep America in a global agreement that restricts Iran’s nuclear activities in exchange for relief from sanctions and a restriction on oil sales.

Saudi Arabia's economic revival is still an oil story category
May 3, 2018
Source: World Oil

Saudi Arabia's economic revival is still an oil story

Saudi Arabia’s efforts to strengthen public finances and stimulate economic growth are still practically dependent on oil prices, even as the kingdom tries to reduce its reliance on revenue from oil exports. According to the latest IMF Economic Outlook, the global oil giant will need oil prices to average about $88/bbl this year to balance its budget.

Triangle Trade experiences a fillip as US oil output and export rises category
April 21, 2018
Source: World Oil

Triangle Trade experiences a fillip as US oil output and export rises

With the rapid increase in U.S. oil production and export, a new promising trade triangle is emerging, that of Midland, Houston and Cushing .There is a greater international exposure by the U.S. to the world with drilling boom in shale formations. Exports have surged from almost zero in 2014 to more than 2 MMbpd last month

Iraq contemplates building an island to amplify oil exporting capacity category
March 20, 2018
Source: World Oil

Iraq contemplates building an island to amplify oil exporting capacity

The second largest producer of OPEC, Iraq, is reinvigorating efforts to maximise its oil exporting capacity. Iraq is weighing up the possibilities of injecting seawater into crude deposits and laying down the infrastructure for export facilities on an artificial island in the Persian Gulf. Iraq is trying to secure its business by expanding export volume more than the output strength to sustain exigencies of time and nature.

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