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West Africa oil exports to China at near record in Sept LONDON: A surge in Chinese buying to near record highs pushed up West African crude oil exports to Asia in September, a Reuters survey of traders showed on Thursday.Exports from Nigeria, Angola and other West African oil producing nations are set to rise to around 2 million barrels per day (bpd) from the 1.59 million bpd originally planned in August, the survey indicated.There is set to be a substantial rise in exports to China, which are due to be around 1.2 million bpd for September, against about 824,000 bpd in August.Traders said Angolan exports to China for September were close to the highest on record, and overall exports to China are also close to their highest level that was set late last year, Reuters data shows.Buyers were able to purchase the cargoes at substantially cheaper rates than earlier in the year, with differentials were pushed lower by stiff competition from ...
Oil slips towards $102 on ample supply LONDON: Brent crude oil fell towards $102 a barrel on Thursday, depressed by ample supply and lacklustre demand as global economic growth remains tepid. Oil supply is expected to exceed demand this year, analysts forecast, and crude oil benchmarks on both sides of the Atlantic Basin are on track to post a second monthly decline. "It looks like there is crude everywhere," said Tony Nunan, a risk manager at Mitsubishi Corp. "There's just too much ...
Iraq's southern oil exports fall by 140,000 bpd so far in August LONDON: Iraq's oil exports from its southern terminals so far in August have fallen by about 140,000 barrels per day, according to loading data and industry sources, dropping further from a record high reached in May.Exports from Iraq's southern terminals have averaged 2.3 million barrels per day (bpd), according to shipping data for the first 26 days of August tracked by Reuters. Two industry sources who also monitor the exports had similar estimates.An advance by ...
Preparations for Rosneft's privatisation under way MOSCOW: Russia's Economy Minister said on Tuesday that preparations to sell a part of the state's stake in Rosneft, the world's top oil producer by output, are under way and it could be sold in two tranches, RIA Novosti news agency reported. The Russian government has said it plans to sell 19.5 percent of Rosneft. Russia set out privatisation plans covering a number of companies in 2010, aiming to boost state coffers and improve corporate ...
Brent rises near $103, EIA shows fall in US oil stocks LONDON: Brent crude oil rose towards $103 a barrel on Wednesday, recovering from a 14-month low hit last week as traders monitored maintenance work in the North Sea and as U.S. crude oil inventories fell.Oil benchmarks on both sides of the Atlantic have fallen by more than 10 percent since mid-June and remain on track to post a second monthly fall against a backdrop of lower imports by the United States and slowing growth in ...


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