MNI BRIEF: China Consumption Can Continue Acceleration - NBS

MNI: China CFETS Yuan Index Up 0.40% In Week of Jun 14

MNI: PBOC Conducts CNY182 Bln Via 1Y MLF Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1149 Mon; -1.41% Y/Y

CHINA PBOC CONDUCTS CNY4 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1149 MON VS 7.1151

Japan Apr Machine Orders -2.9% M/M

CHINA MAY INDUSTRIAL OUTPUT +5.6% Y/Y VS MEDIAN +5.9% Y/Y: NBS

MNI JAPAN APRIL CORE MACHINE ORDERS -2.9% M/M; MAR +2.9%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Citgo Not Interested in Venezuelan Crude Purchases

OIL

US refiner Citgo Petroleum, under the administration of the Venezuelan opposition, has decided against buying Venezuelan crude despite eased US sanctions in October according to Bloomberg reports.

  • Citgo was once the top US processor of Venezuelan oil. It had previously said in 2022 that it would be willing to import Venezuelan oil if sanctions eased – claiming they didn’t want to operate at a disadvantage to other refiners.
  • Citgo benefits from higher heavy crude availability, which it sources from other Latin American producers as well as flows from Canada to replace lost Venezuelan volumes in recent years.
  • The refiner is currently involved in litigation over the sale of its control to settle claims against the Venezuelan government and its oil company.
  • The biggest refiner in the US, Marathon, said they were not interested in the auction process for Citgo’s refineries – instead they are focused on maximizing existing refineries.
  • Prior to the auction process, Marathon had been expected to be one of the main bidders, having shown interest in the past.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.