Page 24 - Platts Analytics News Today

Canadian National makes competing $30 billion bid for Kansas City Southern Canadian National Railway said it made a superior $30 billion offer to buy Kansas City Southern and wrest the American railroad away from its smaller rival Canadian Pacific, potentially setting up a bidding war for the Missouri-based railway. After Canadian Pacific agreed to acquire Kansas City Southern for about $25 billion in March, Canadian National said April 20 it is making a better cash-and-stock bid that would, in...

Singapore — Headwinds have reemerged for the Asian gasoline market, as new pockets of COVID-19 infections across East Asia heighten concerns over new wide-spread movement curbs that could derail near-term demand-side recovery of the motor fuel and put the brakes on the uptrend in the middle distillate crack spread. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Following the recent sharp slide in Indias transportatio...

Weather troubles in Brazil, US likely to keep high corn prices sustained Corn futures prices on the Chicago Board Trade, which gained nearly 50% since the beginning of 2021, are likely to maintain the upward trend in the near-term, owing to weather issues with the top two producers — Brazil and the US — and higher demand from China. Weather concerns have impacted Brazilian corn growers for a while now, and growing distress chatters around dry weather in parts of the US have boosted bullish ...

China has laid out some lofty goals for its climate action. In September 2020, it pledged that it would peak its carbon dioxide emissions before 2030 and hit carbon neutrality before 2060. This was followed in December 2020 by an announcement to enhance its nationally determined contributions under the Paris Agreement for 2030, including increasing the share of non-fossil fuels in primary energy consumption to around 25%. Earlier this year, it issued rules for its emissions trading scheme for t...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now April crude production slid by 115,000 b/d compared to the 1.283 million b/d it reported for March, the report released on May 11 showed. According to the monthly S&P Global Platts OPEC Survey, Libya pumped 1.12 million b/d in April, a fall of 70,000 b/d from March. Production fell as a funding dispute between state oil companies and the central government caused several fields to ...

New Delhi — Corn futures prices on the Chicago Board Trade, which gained nearly 50% since the beginning of 2021, are likely to maintain the upward trend in the near-term, owing to weather issues with the top two producers -- Brazil and the US -- and higher demand from China. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Weather concerns have impacted Brazilian corn growers for a while now, and growing distress chatt...

Iron ore export volumes unlikely to increase in 2021, keeping prices bullish: Platts Analytics Iron ore exports from Australia and Brazil are always lower in the January-March quarter due to weather factors, but they were particularly weak in 2021 — and that tepid performance was compounded by a further decline in April. Australia’s Fortescue Metals Group shipped the same volume in calendar Q1 as it did a year ago, while BHP’s exports were the weakest for two years and Rio Tinto’s were ...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Australias Fortescue Metals Group shipped the same volume in calendar Q1 as it did a year ago, while BHPs exports were the weakest for two years and Rio Tintos were the lowest in a year. Brazilian Vales iron ore and pellet exports fell 25 million mt in calendar Q1 from the December quarter due to operational issues and maintenance at its S11D mine, according to company reports. S&P...

China’s long march to consolidate small refineries – Recent measures a game changer? China’s has stepped up efforts to reform the refinery sector. New measures include the installation of sales to-tax monitoring systems at retail pumps, the crackdown on oil smuggling and an investigation into refineries’ compliance with the terms for receiving crude quotas. Plans to allocate revenues from oil levies to the local authorities may provide incentives to further improve tax collections, as m...

Low output from refineries in many African countries continues to raise importation of fuel, despite a projection that oil demand in the continent is recovering steadily with demand likely to reach pre-coronavirus pandemic levels by the second half-year, analysts have said. Compared with other regions such as Europe where oil demand is unlikely to reach pre-pandemic heights till at least early next year as mobility restrictions weigh on fuel needs, fewer restrictions in the continent are expect...