July, 2017

• 26 July

  Iran: Hostile US sanctions vote undermines N-deal

  Bloomberg Iran promised to respond if the “blatantly hostile” vote in the House of Representatives to impose new sanctions becomes law, saying they would go against US commitments under the 2015 nuclear agreement with world powers. Sanctions pursued in the US Congress “can impact the successful implementation” of the deal, the state-run Iranian Students’ News Agency cited Deputy Foreign Minister …

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• 26 July

  Soldiers in streets as Maduro plans new constitution

  

  Bloomberg Venezuelans are stockpiling scarce food and water as tensions mount ahead of a widely criticized Sunday vote that President Nicolas Maduro has called to elect an assembly of supporters to rewrite the constitution and strengthen his grip on power. Maduro—who’s presided over an increasingly autocratic regime that has imperiled the country’s six-decade democracy and left the economy and society …

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• 26 July

  Rajoy brushes off lawyer’s attacks in corruption trial

  Bloomberg Prime Minister Mariano Rajoy batted away questions from lawyers prosecuting his former party colleagues as they tried to tie him in to an alleged bribery ring run from the group’s headquarters. Rajoy said that he’d never had anything to do with party finances, despite running four election campaigns and serving as president since 2004. He insisted that he never …

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• 26 July

  Petronas deals fresh blow to Canada’s energy patch

  

  Bloomberg Petroliam Nasional Bhd.’s decision to back out of a giant gas-export project on Canada’s Pacific Coast is the latest hit to the country’s energy sector — and to Prime Minister Justin Trudeau’s plan of balancing energy exports and climate action. The Malaysian state-run oil and natural gas producer cited an “extremely challenging environment” of low prices and other changes …

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• 26 July

  Indonesia says open to rejoining OPEC if not forced for output cuts

  

  HOUSTON / Reuters Indonesia is open to rejoining the Organization of the Petroleum Exporting Countries as long as it is not forced to curb its own crude oil production, the nation’s energy and mineral resources minister said. “We would have to have a concession for not following cuts from time to time,” the minister, Ignasius Jonan, said in an interview …

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• 26 July

  Oil rises as US stockpiles plunge

  

  Bloomberg Oil extended gains from the highest close in seven weeks as industry data showed US crude stockpiles plunged, easing a glut. Futures climbed as much as 1.4 percent in New York after rising 4.6 percent in the previous two sessions. Inventories tumbled by 10.2 million barrels last week, the American Petroleum Institute was said to report. If the decline …

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• 26 July

  Mexico refining hits lowest in decades

  

  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 …

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• 26 July

  Russia, China’s top oil supplier for 4th straight month

  

  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 …

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• 26 July

  America’s biggest oil import hub looks to catch export wave

  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 …

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• 26 July

  Nintendo’s profit, sales beat estimates on Switch demand

  

  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 …

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