MNI China Daily Summary: Monday, May 13

MNI BRIEF: Beijing Reveals 2024 Bond Issuance Plan

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INDON Sov Curve Steady, Consumer Confidence Rose To 11-Month High

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FM Declared on South Sudan’s Dar Blend Loadings: Platts

OIL
Energy BulletsCommodities

A major South Sudanese producing consortium had declared a force majeure on loadings of its key Dar Blend crude, following a rupture on the export pipeline through Sudan, Platts said.

  • Loadings were suspended on Feb. 12. At least one cargo of 600k b/d was due to load Feb. 22-23, but the lifting was cancelled.
  • Crude exports from neighbouring Sudan’s Bashayar terminal on the Red Sea fell to an 11-month low of 79k b/d.
  • The pipeline passes through a war-torn region, although it was not clear if the damage was related to the conflict.
  • South Sudan produces around 160k b/d of crude, compared to Sudan’s 50k b/d. However, it completely relies on Sudan as an outlet for its exports.

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A major South Sudanese producing consortium had declared a force majeure on loadings of its key Dar Blend crude, following a rupture on the export pipeline through Sudan, Platts said.

  • Loadings were suspended on Feb. 12. At least one cargo of 600k b/d was due to load Feb. 22-23, but the lifting was cancelled.
  • Crude exports from neighbouring Sudan’s Bashayar terminal on the Red Sea fell to an 11-month low of 79k b/d.
  • The pipeline passes through a war-torn region, although it was not clear if the damage was related to the conflict.
  • South Sudan produces around 160k b/d of crude, compared to Sudan’s 50k b/d. However, it completely relies on Sudan as an outlet for its exports.

Keep reading...Show less