Argus Media

The European Union and South America's economic bloc, Mercosur, have agreed on a significant #tradedeal, which aims to cut and possibly remove tariffs, after 20 years of negotiations. #Mercosur encompasses Argentina, Brazil, Uruguay and Paraguay, with Venezuela suspended in 2016 | #tradetariffs @argus_metals

To help you measure risk, improve mark-to market accounting, calculate profits/losses and properly valuate assets, Argus Media has launched Argus Marine Fuels Forward Curves for key #marinefuels, at key trade hubs.
These prices look 24 months forward – by month - with differentials to futures agreements with regional time stamps. The #forwardcurves are also a great complement to our recently launched #IMO2020-compliant 0.5% fuel assessments | #ArgusOil
For more information, visit: https://okt.to/XAegtT

Iraq expects a rollover of current #crudeoil production levels at the upcoming #Opec and non-Opec meetings on 1-2 July, oil minister Thamir Ghadhban said 27 June.
"The rollover will at least be at the same level, because it has not been very effective," Ghadhban said on the sidelines of the CWC Iraq Petroleum conference. He said that there were calls from some participants to increase the cut levels, but said these would be discussed at the joint ministerial monitoring committee (JMMC) that precedes the meetings on 1 July | #ArgusOil
Read the full story: https://okt.to/JiT0Dn

Plunging refining margins in Asia have wrought havoc halfway around the world in #Angola. “Blood has been spilt,” one trader said.
Sellers of Angola’s #crudeoil seemed to be in denial for most of this month, when they asked for the same prices as in May — around $2-2.50/bl above the North Sea Dated benchmark for the country’s high-quality crude | #ArgusOil
Scott Carpenter for #ArgusBlog: https://okt.to/bOcnoe

US officials are briefing senior congressional leaders on the planned response to Iran's Islamic Revolutionary Guard Corps (IRGC) shooting down a high-altitude US military drone.
"You will find out soon" how the US will respond, President Donald Trump said at the White House, at the start of his meeting with Canadian prime minister Justin Trudeau.
But Trump appeared to downplay the incident, suggesting it was mistake made by someone "loose and stupid." | #ArgusOil #USIrantens...ion #crudeoil
Read the story in full: https://okt.to/Bg4bJO
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ExxonMobil and BP (BP Extra ) have reassured shipowners about the stability of their new 0.5pc sulphur #marinefuels, ahead of the implementation of the International Maritime Organization's (IMO) sulphur emissions cap next year.
"There is not really a best-before-use date… the stability of our fuel can be good for one year," ExxonMobil marine fuels technical advisor Armelle Breneol told the Sulphur 2020 Countdown conference this week | #ArgusOil
For this and related #IMO2020 news: https://okt.to/6oKrcI

From 1 January 2020, the limit for sulphur in #fueloil used onboard ships operating outside designated emission control zones will be reduced to 0.5%. These impending changes are sending shockwaves through the industry.
The Argus IMO Newsletter is a free bi-weekly email alert that contains the latest industry news, analysis and key pricing indications, to help you to navigate through these uncertain times | #ArgusOil #IMO2020 #oilproducts
Click to subscribe for free: https://okt.to/heRE71

A few weeks ago, the outlook for German diesel demand looked quite clear — consumption in Europe's largest market is falling for the first time in more than a decade because diesel cars are going out of fashion. But this is not quite true. The picture is far more complex, and is changing again this year.
Initial official statistics showing a drop in German inland #diesel deliveries of more than 3pc last year have been revised down to just 1.3pc — close enough to zero to be within a statistical error margin | #ArgusOil #oilproducts
Charlotte Blum for #ArgusBlog: https://okt.to/IHtxOe

Global commodity pricing agency Argus has signed a collaboration agreement with the International Fertilizer Development Center (IFDC) that will improve access to information regarding the traditionally opaque and complex African #fertilizer sector | #ArgusPR #farming
Find out more: https://okt.to/MGzuh1

The #ethylene market continues to be a fast growing and changing market with increasing investments focused at boosting its production capacity. Will consumption keep pace with production? | #ArgusPetchems #petrochemicals #olefins
Get your answers in the new Argus Ethylene Analytics 2019: https://okt.to/RTOlEb

Total does not expect shipowners to have difficulty burning low-sulphur fuel oil (LSFO) with low viscosities in the run-up to the International Maritime Organisation (IMO) 2020 regulations capping sulphur levels, with value instead shifting to sulphur content | #ArgusOil #marinefuels
For this and related #IMO2020 news: https://okt.to/5sOTDw

Webinar: http://bit.ly/2EXubDr
As US crude exports continue to grow amid rising production and an infrastructure build-out at the US Gulf coast, global refiners are increasing their intake of outbound light sweet crude flows from the country. Asia remains the main demand region for US crude exports despite challenging #geopolitics that have redirected regional crude flows thus far in 2019.
Listen to #ArgusOil's update webinar on the current state of US crude exports for a s...ummary on:
• The largest buyers of US #crudeoil year-to-date • US waterborne crude assessments and methodology • Global #indexation and market participation • US infrastructure developments and recent quality initiatives
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When a country reaches net zero emissions it has, in effect, ended its contribution to global warming. But not all net zero goals are equal.
UN secretary-general Antonio Guterres has told world leaders to come to his climate summit in New York in September ready to announce their most ambitious emissions targets ever.
All of the nearly 200 countries that signed the UN’s Paris climate agreement in 2016 have already pledged to limit their greenhouse gas (GHG) #emissions, as par...t of the effort to address concerns over runaway global warming.
So far, these targets are not ambitious enough | #ArgusEmissions #climatechange
Read Kate Abnett's blog post in full: http://bit.ly/2Ziijnj
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Argus has launched two price assessments for #marinefuels delivered to Zhoushan in east China, following an agreement with the Zhoushan city government.
The new Zhoushan Bunker Indexes (ZBI) for IMO-compliant 0.5pc sulphur #fueloil and 0.1pc sulphur marine gasoil have been launched within a month of the agreement being signed, and seven months ahead of the IMO’s introduction of tighter sulphur specifications for bunker fuel (#IMO2020).
The prices are published in the daily ...Argus Marine Fuels report | #ArgusOil
Find out more: http://bit.ly/2Zi6xJz
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The chances a pending rule to lower sulphur #emissions from ships will lead to a spike in oil and diesel prices have decreased, Bank of America said in a new report.
The bank said that slowing economic activity stemming from the US' current trade policy may counterbalance any price effects from the International Maritime Organization (#IMO2020) sulphur rules, which take effect in January.
#ArgusOil team reports: http://bit.ly/2EPYyeQ

#ArgusMedia #ArgusMetals #steel #automotive
Steelgroup.co.in

Venezuelan #crudeoil — once the dominant source of heavy feedstocks for US refineries — trickled into just two refineries in March as sanctions and production issues strangled shipments to the US.
US imports of Venezuelan crude in March averaged just under 47,000 b/d, down from 480,000 b/d in the same month of 2018, according to the latest Energy Information Administration (EIA) data | #ArgusOil
For more #Venezuela energy news and market analysis, visit: http://bit.ly/2UQNNhH

The Argus Metals International service has added nine new price assessments for the Chinese #nonferrous #metals and #ferroalloys markets in the last week of May 2019: • Antimony trioxide 99.8pc min export price fob China ($/t) • Antimony metal 99.85pc min ex-works China (CNY/t) • Antimony trioxide 99.8pc min ex-works China (CNY/t) • Manganese sulphate min 32pc Mn battery grade ex-works China (CNY/t)... • Manganese dioxide min 91pc carbon battery grade ex-works China (CNY/t) • Manganese dioxide min 91pc alkaline battery grade ex-works China (CNY/t) • Vanadium nitrogen alloy ex-works China (CNY/t) • Ferro-titanium 70pc scrap grade ex-works China (CNY/t) • Tungsten concentrate 55pc min ex-works China (CNY/t)
For more information about Argus Metals International subscription, please visit: http://bit.ly/2W5Aomv
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