Posts Tagged ‘China’

Australian Wolf stalks Mongolian oil opportunities

Mongolia might not be the first place that springs to mind as a potential investment destination for oil and gas players, but one small Australian company is hoping the recent passing of a new petroleum law will open up opportunities in the landlocked nation between Russia and China.

Wolf Petroleum is the only Australia-listed oil and gas company operating in Mongolia. But the industry minnow, capitalized at just A$5.5 million ($5.2 million), claims a position as Mongolia’s largest petroleum acreage holder, with one production block and two exploration areas covering more than 74,400 sq km (18,000 million acres).

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Major US trade decision in the pipeline for OCTG producers

The story is a familiar one: Cheap foreign steel products are threatening domestic manufacturers, and the US steel industry is seeking relief with a trade case.

Here’s how it goes down: Following a petition by one or more US producers, the Department of Commerce and the International Trade Commission independently and simultaneously investigate any antidumping and countervailing claims. Commerce investigates whether imported products are sold at less-than-fair value or have been subsidized by foreign governments and determines duty rates accordingly. The ITC rules whether those imports materially injure or threaten material injury to the domestic industry. If either body votes in the negative, no duties are levied.

On Friday, Commerce is due to make its final determination in the antidumping and countervailing investigations of oil country tubular goods (OCTG) imports from South Korea, India, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, Ukraine and Vietnam.

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The Oil Big Five: Your thoughts about what’s important in June

The second installation of The Oil Big Five hit a snag when we realized that comments weren’t coming through on our blog platform, so this follow-up is a week later than we wanted.

But regardless of timing, we wanted to feature the comments from our readers, both here on the blog as well as on social media. We know what our oil experts and editors think are the most important trends worldwide, but what about you? Do you agree with what others have said?

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China Steel Sentiment Index: a steady June coming up

Platts’ monthly China Steel Sentiment Index looks out at what Chinese steel demand in the upcoming month might be, given various readings on the state of the market. The index for June is anticipating a steady month; you can see our analysis of it here.

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The Oil Big Five: trends, market drivers and global issues

This is our second installment of The Oil Big Five, where we ask Platts oil experts around the globe to outline five big trends or factors affecting the oil industry. We were glad to hear from you, our readers, on our first post, and we featured your top responses in our follow-up post. Be sure to leave us a comment and tell us what you think about our picks as well as what you see as the biggest influences in your part of the industry.

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China oil demand up a small amount…again

Our monthly report of Chinese oil demand in April shows once again, a minimal year-on-year gain. That’s been the pattern now for a while. You can read our analysis of it here. 
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IEA looks to OPEC to boost oil production as output growth elsewhere slows

The International Energy Agency believes OPEC will need to raise its production by nearly 1 million b/d in the third quarter to meet rising global demand and to make up for slowing supply growth from non-OPEC producers.

That would mean the group would be producing nearly 31 million b/d within a few months.

Can it be done?

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Breaking Bad: Iron ore smuggling heats up, prices cool down

Mexican officials said last week that they seized a drug cartel’s vessel and the nearly 70,000 mt of iron ore it was carrying, according to United Press International. The cartel, known as Knights Templar, is “known iron ore smugglers, in addition to trafficking methamphetamine to the US,” UPI reported.

There were no details on the quality specs of the iron ore cargo, but assuming an average price of $91/ dry mt CFR China — based on the six grades from 52% Fe – 65% Fe, which Platts assesses — the value of the shipment would approximate $6.4 million.

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The Oil Big Five: trends, market drivers and global issues

Welcome to a new feature for The Barrel, where each month Platts’ oil experts in offices around the world will outline the five big trends or factors affecting oil markets. From Asia to the Americas, we’ll assess the leading issues in crude and refined products over the past month, and those that may have an impact in the future.

But this isn’t just about what we think. We’d like your views and insights, as participants and observers in the oil industry, as to what issues are driving your markets, your business, or your views.

Be sure to leave a comment and tell us what you think, and we will collate the best answers and re-post as a new post to share with our readership.

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Chinese oil demand just a tad more than flat last month

Chinese oil demand rose in March, but it didn’t rise by much: a mere 0.5%. Bernstein Research this week said the country was in an “oil recession,” and our survey certainly supports that idea. You can read our analysis here.

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