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Bloomberg Mexico processed the lowest amount of crude in decades in late June and early July, based on preliminary numbers, after a fire and flood took the country’s largest refinery offline last month. State-owned Pemex refined 695,000 barrels a day of crude, equivalent to about 42 percent of Mexico’s refining capacity, July 1 to July 16, according to the company’s ...

BEIJING / Reuters Russia was China’s biggest crude oil supplier for a fourth straight month in June, its longest streak ever in the top spot, data from the General Administration of Customs showed. China’s total crude oil imports reached 36.11 million tonnes in June, or 8.79 million barrels per day (bpd), making the country the world’s largest buyer for a ...

Bloomberg The biggest US oil import hub wants to grab a piece of surging North American crude exports. Louisiana Offshore Oil Port, the only terminal along the US Gulf Coast able to handle a fully laden supertanker, is gauging interest from shippers in sending crude overseas on the world’s biggest ships by early next year. Ports are competing to fill ...

Bloomberg Nintendo Co.’s Switch is showing signs of becoming a money earner. The Kyoto-based company reported profit and sales that topped estimates as more people bought the new gaming machine, lifting prospects for brisk shipments during the holiday season. Operating profit for April-June, the Switch’s first full quarter on store shelves, was 16.2 billion yen ($145 million), exceeding analysts’ average ...

Bloomberg India opened a probe into whether Chinese solar-equipment makers are hurting its domestic industry by dumping inventories and driving down prices to unfair levels. “A causal link between the said dumping and injury exists to justify an initiation of an anti-dumping investigation,” according to a notification published on the website of the Directorate General of Anti-Dumping and Allied Duties. ...

Bloomberg Earliest indicators show that China’s economic engine is humming this summer. Confidence of small- and medium-sized companies rebounded in July, satellites are picking up increasing activity on the ground, sentiment of steel traders and producers has improved, while that of sales managers is at the highest level in more than two years. This buoyancy helps offset concern from wary ...

ABU DHABI / WAM Abu Dhabi’s trade in pearl, gemstones and precious metals surged to AED4.9 billion during the first four months of the year, posting an impressive growth of 25.6 percent over the corresponding period last year, according to Statistics Centre-Abu Dhabi. The trade inflowing via the country’s air, land and sea ports of entry accounted for 8.4 percent ...

DUBAI / Emirates Business The UAE is benefitting more from the rebound in world trade flows and growth in global tourism than other GCC economies, according to ICAEW. In a new report, released on Tuesday, the accountancy and finance body says the UAE has a more favourable economic outlook because it is the most diversified economy in the GCC. Fuel ...

Dubai / Reuters Abu Dhabi National Oil Co (ADNOC) has cut its crude allocations by 10 percent for September for the majority of its customers, an ADNOC spokesman said on Tuesday. Reuters reported earlier that the company had notified two term buyers in Asia that they would receive 10 percent less crude for September, according to two sources familiar with ...

DUBAI / WAM DP World Limited handled 34.0 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first half of 2017, with gross container volumes growing by 8.2 percent year-on-year on a reported basis and 7.7 percent on a like-for-like basis, with second quarter growth rates accelerating to 10.7 percent year-on-year on a reported basis ...