MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

Disappointing data but no market reaction

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

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Volgograd Refinery Delays Unit Return to 22 Feb

REFINING

Lukoil’s Volgograd refinery delayed the return at its damaged primary processing unit until 22 February, from 17 February previously scheduled, following a drone attack earlier this month, Mikhail Turukalov, an oil-products analyst, said in a research note, cited by Bloomberg.

  • The fire affected a pipeline at the unit on 3 February, the facility said in a statement.
  • The refinery reduced its average daily crude processing rate to 35.7k tons, or some 261k barrels, on 1-6 February, compared with the average of 39.4k tons in January, Turukalov said earlier this month.
  • Oil processing rates in Russia’s refineries fell by over 151kb/d to the lowest in four months at 5.26mb/d according to Bloomberg sources.
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