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Crude oil exports by Mexico's Pemex plummet 44% in January
By Ana Isabel Martinez MEXICO CITY, Feb 26 (Reuters) - Crude oil exports by Mexican state energy company Pemex PEMX.UL plunged 44% year-on-year in January to 532,404 barrels per day (bpd), its lowest in decades, official numbers show, as the company has admitted it is struggling with crude qualit...Reuters
Wed, Feb 26
BRIEF-Citi Maintains Jkm And Ttf Gas Likely To Trade Below $13/Mmbtu In 2H25
Feb 26 (Reuters) - CITI RESEARCH:MAINTAINS BASE CASE THAT JKM AND TTF GAS ARE LIKELY TO TRADE BELOW $13/MMBTU IN 2H25 VERSUS THE RANGE OF $14-15/MMBTU CURRENTLYSAYS JAPAN’S LNG IMPORTS ARE LIKELY TO DECLINE BY 3 TO 5-BCM, OR 4 TO 5% Y/Y IN 2025 DUE TO NUCLEAR RESTARTS AND PRICE-INDUCED FUEL SWITCHIN...Reuters
Wed, Feb 26
Europe Gasoline/Naphtha-Gasoline refining margins rise despite US stockbuild
LONDON, Feb 26 (Reuters) - Northwest European gasoline refining profit margins rose by about 26 cents on Wednesday, to $8.47 a barrel, even as U.S. stocks rose last week. A total of 4,000 metric tons of E10 gasoline barges traded, as Gunvor sold to Varo.A further 1,000 tons of Eurobob E5 traded, wit...Reuters
Wed, Feb 26
GRAINS-Chicago grains and soybeans dip on year-end positioning, tariff worries
Updates with US tradingBy Renee Hickman CHICAGO, Feb 26 (Reuters) - Chicago corn, soy and wheat eased on Wednesday as traders took profits and monitored the possible impacts of U.S. tariffs on imports from Mexico and Canada, set to take effect on March 4 after a 30-day delay.The most active soybe...Reuters
Wed, Feb 26
US Cash Grains-Soybean basis bids mostly steady to firm as futures dip
CHICAGO, Feb 26 (Reuters) - Spot basis bids for soybeans delivered to interior elevators and processing plants around the U.S. Midwest were mostly steady to higher on Wednesday as futures declined and farmer selling remained limited, merchants said.* Soy basis bids at river elevators were flat as de...Reuters
Wed, Feb 26
EU wheat slips back to four-week low
PARIS, Feb 26 (Reuters) - European wheat futures eased to a new four-week low on Wednesday as weakness in Chicago countered support from talk of fresh export demand for Western European wheat.May wheat BL2K5, the most-active contract on Euronext, settled 0.8% lower at 230.00 euros ($241.36) a metric...Reuters
Wed, Feb 26
Copper giant Chile monitoring US probe into potential metals tariffs
Adds details from foreign ministry in 3-4By Fabian Cambero SANTIAGO, Feb 26 (Reuters) - Chile's foreign ministry said on Wednesday it is "monitoring" a U.S. probe looking into potential new tariffs on imports of copper, a metal critical to electric vehicles, military hardware, the pow...Reuters
Wed, Feb 26
No-shows, aid cuts mar G20 meet on global poverty
U.S., China, Japan, India, Canada finance ministers absent Discussions also overshadowed by sharp disagreementsClimate finance, financial reform, inequality in focusAdds comments from Japanese official in paragraphs 7 and 8By Kopano Gumbi, Andy Bruce and Leika Kihara CAPE TOWN, Feb 26 (Reuters) -...Reuters
Wed, Feb 26
METALS-US copper surges as Trump moves on tariffs
Updates prices at 1735 GMTBy Eric Onstad LONDON, Feb 26 (Reuters) - U.S. copper prices jumped on Wednesday after President Donald Trump moved closer to imposing tariffs on imports, while a power outage in top producer Chile also supported the wider market.The most active May copper futures on the...Reuters
Wed, Feb 26
Chile's copper giant Codelco evaluating impacts of massive power outage
SANTIAGO, Feb 26 (Reuters) - Chile's state miner Codelco COBRE.UL, the world's largest copper producer, said on Wednesday it was evaluating the impacts of a nationwide powercut on its production, and that recovery would be its main focus.Chile's power grid and major copper mines slowly c...Reuters
Wed, Feb 26
EDPR posts unexpected loss on heavy impairments in US, Colombia
Adds sales, lower capital gains, EBITDA LISBON, Feb 26 (Reuters) - EDP Renovaveis EDPR.LS, the world's fourth-largest wind power producer, posted an unexpected net loss of 556 million euros ($584 million) in 2024 on heavy one-off impairments on projects in the U...Reuters
Wed, Feb 26
US targets firms in China, Hong Kong over alleged role in Iranian drone procurement
Adds Chinese embassy comment in paragraphs 7-8 WASHINGTON, Feb 26 (Reuters) - The United States imposed sanctions on six entities based in Hong Kong and China on Wednesday that it accused of being involved in an Iranian drone procurement network, as the Trump administration implements its "ma...Reuters
Wed, Feb 26
BP cuts renewable investment and boosts oil and gas in strategy shift
BP boosts oil and gas investment to $10 bln annuallyCuts annual transition spending by over $5 billion Reviewing Castrol, targets $20 billion in divestmentEnergy transition is slower than BP expectedAdds details on scope 3 targets in paragraphs 8-9, updates share price in paragraph 17By Arunima Kuma...Reuters
Wed, Feb 26
Goldman Sachs sees boost in US commodities production from Trump's policies
Writes throughout with more detailsFeb 26 (Reuters) - U.S. energy and metals production could see a limited boost in the short run as a result of U.S. President Donald Trump's tariff plans, but a potentially bigger boost over the longer run from broader "commodity dominance" policies, Go...Reuters
Wed, Feb 26
Med crude-Urals diffs stable, oil loadings from Russia's western ports seen down 8% m/m in March
MOSCOW, Feb 26 (Reuters) - Urals crude differentials to dated Brent held steady on Wednesday, while oil loadings from Russia's western ports in March were set to fall by some 8% on a daily basis compared to revised lifting plans for February, two market sources said and Reuters calculations show...Reuters
Wed, Feb 26
EDPR posts unexpected loss on heavy impairments in US, Colombia
LISBON, Feb 26 (Reuters) - EDP Renovaveis EDPR.LS, the world's fourth-largest wind power producer, posted an unexpected net loss of 556 million euros ($584 million) in 2024 on heavy one-off impairments on projects in the United States and Colombia. Analysts polled ...Reuters
Wed, Feb 26
Ukraine not on agenda in US-Russia talks on diplomatic missions, says State Dept
WASHINGTON, Feb 26 (Reuters) - Ukraine will not be on the agenda when U.S. and Russian officials meet in Istanbul on Thursday for talks over the operation of their respective diplomatic missions, a State Department spokesperson said on Wednesday."To be clear, there are no political or security i...Reuters
Wed, Feb 26
BRIEF-BP CEO Says No Plans For Further Acquisitions
Feb 26 (Reuters) - BP PLC BP.L:BP CEO SAYS NO PLANS FOR FURTHER ACQUISITIONS - CAPITAL MARKETS DAY EVENTBP SAYS REDUCING CONTRACTOR NUMBERS BY MORE THAN 3,000, WITH 2,600 OF THESE HAVING ALREADY LEFTBP SAYS BPX OUTPUT EXCEEDED 430,000 BOEPD IN 2024, TO GROW 650,000 BOEPD BY 2030BP SAYS CONFIDENT RES...Reuters
Wed, Feb 26
US East Coast gasoline stockpiles rose to highest since July 2021, EIA says
Feb 26 (Reuters) - U.S. East Coast gasoline stockpiles rose by 502,000 barrels to 67.019 million barrels in the week to February 21, the highest since July 2021, according to data from the U.S. Energy Information Administration's Petroleum Status Report on Wednesday.Reuters
Wed, Feb 26
Ukraine says it hit Russian oil refinery, Moscow says it downs 83 drones in southern region
Recasts with Ukrainian military statement Feb 26 (Reuters) - The Ukrainian military said on Wednesday it had attacked Russia's Tuapse oil refinery on the Black Sea coast and that at least 40 explosions had been recorded at the site. Tuapse is home to one of Russia's biggest o...Reuters
Wed, Feb 26
