Yearend – Brazil, Australia iron ore shipments set record; China spearheads other commodities

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The total volume of iron ore dispatched to global destinations from Australia and Brazil was 29.7 million tonnes in December, the highest since June 2019, according to a survey from Mysteel. Iron ore shipments from ten Australian ports bound for global destinations hit 21.7 million tonnes, and the tonnage shipped from Brazil’s nine ports to reach […]

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Indian Oil quarterly net profit down by 47% to Rs 1,911 crore on inventory loss due to oil price crash

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Indian Oil Corporation (IOCL) reported a net profit of Rs 1,910.8 crore on a standalone basis for the quarter ended June 30, recording a 46.9% drop from the same period a year ago. The state-run oil refining and marketing company attributed the fall in profit to inventory losses, stemming from fluctuations in global oil prices. The […]

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Less demand and low crude prices may cut India’s oil bill by 40% this year

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The severe demand squeeze due to the pandemic prompted lockdowns and low global crude prices has helped India in reducing its crude import bill. Declining consistently since April, India’s oil imports fell about 29 per cent (YoY) to around 13.44 million tonnes in June, the lowest since October 2011. In value terms, the June oil imports stood at $4.93 billion (Rs […]

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