Latest news with #ESPO
NDTV
4 hours ago
- Business
- NDTV
Chinese Refiners Sweep Up Russian Oil After Indian Demands Fails, Say Analysts
Singapore: Chinese refineries have purchased 15 cargoes of Russian oil for October and November delivery as Indian demand for Moscow's exports falls away, two analysts and one trader said on Tuesday. India has emerged as the leading buyer of Russian seaborne oil, which has sold at a discount since some Western nations shunned purchases and imposed restrictions on Russian exports over Moscow's 2022 invasion of Ukraine. Indian state refiners paused Russian oil purchases last month, however, as those discounts narrowed. And US President Donald Trump is also threatening to punish countries for buying Russian crude. China had secured 15 Russian Urals cargoes for October-November delivery by the end of last week, said Richard Jones, a Singapore-based crude analyst at Energy Aspects. Each Urals cargo ranges in size from 700,000 to 1 million barrels. Kpler senior analyst Xu Muyu wrote in an August 14 report that China has likely purchased about 13 cargoes of Urals and Varandey crude for October delivery, along with at least two Urals cargoes for November. The additional Russian Urals supply could curb Chinese refiners' appetite for Middle Eastern crude, which is $2 to $3 per barrel more expensive, Xu said. This, in turn, could add further pressure to the Dubai market which is already losing momentum as seasonal demand fades while competition from arbitrage supply intensifies, she added. A trade source agreed with Kpler's estimate, adding that the cargoes were booked mostly at the beginning of this month by Chinese state-owned and independent refineries. China, the world's top oil importer and largest Russian oil buyer, primarily buys ESPO crude exported from the Russian Far East port of Kozmino due to its proximity. Its year-to-date imports of Urals crude stood at 50,000 barrels per day, Kpler data showed. Urals and Varandey crude are typically shipped to India, Kpler data showed. Indian state-refiners have backed out Russian crude imports by approximately 600,000 to 700,000 bpd, according to Energy Aspects' Jones. "We do not expect China to absorb all of the additional Russian volumes, as Urals is not a baseload grade for Chinese majors," he said, referring to Chinese state refineries which are not designed to solely process the Russian grade. Chinese refiners will also be wary about the possibility of US secondary sanctions if Trump's push for a Ukraine peace deal breaks down, he added. Trump said on Friday he did not immediately need to consider retaliatory tariffs on countries such as China for buying Russian oil but might have to "in two or three weeks".
Hindustan Times
7 hours ago
- Business
- Hindustan Times
Chinese refiners sweep up Russian oil after Indian demand falls, analysts say
* Chinese refiners sweep up Russian oil after Indian demand falls, analysts say China buys 15 Russian oil cargoes for October-November delivery * Indian demand for Russian oil declines as discounts narrow in July * Trump threatens retaliatory tariffs against Russian oil buyers By Siyi Liu SINGORE, - Chinese refineries have purchased 15 cargoes of Russian oil for October and November delivery as Indian demand for Moscow's exports falls away, two analysts and one trader said on Tuesday. India has emerged as the leading buyer of Russian seaborne oil, which has sold at a discount since some Western nations shunned purchases and imposed restrictions on Russian exports over Moscow's 2022 invasion of Ukraine. Indian state refiners paused Russian oil purchases last month, however, as those discounts narrowed. And U.S. President Donald Trump is also threatening to punish countries for buying Russian crude. China had secured 15 Russian Urals cargoes for October–November delivery by the end of last week, said Richard Jones, a Singapore-based crude analyst at Energy Aspects. Each Urals cargo ranges in size from 700,000 to 1 million barrels. Kpler senior analyst Xu Muyu wrote in an August 14 report that China has likely purchased about 13 cargoes of Urals and Varandey crude for October delivery, along with at least two Urals cargoes for November. The additional Russian Urals supply could curb Chinese refiners' appetite for Middle Eastern crude, which is $2 to $3 per barrel more expensive, Xu said. This, in turn, could add further pressure to the Dubai market which is already losing momentum as seasonal demand fades while competition from arbitrage supply intensifies, she added. A trade source agreed with Kpler's estimate, adding that the cargoes were booked mostly at the beginning of this month by Chinese state-owned and independent refineries. China, the world's top oil importer and largest Russian oil buyer, primarily buys ESPO crude exported from the Russian Far East port of Kozmino due to its proximity. Its year-to-date imports of Urals crude stood at 50,000 barrels per day, Kpler data showed. Urals and Varandey crude are typically shipped to India, Kpler data showed. Indian state-refiners have backed out Russian crude imports by approximately 600,000 to 700,000 bpd, according to Energy Aspects' Jones. "We do not expect China to absorb all of the additional Russian volumes, as Urals is not a baseload grade for Chinese majors," he said, referring to Chinese state refineries which are not designed to solely process the Russian grade. Chinese refiners will also be wary about the possibility of U.S. secondary sanctions if Trump's push for a Ukraine peace deal breaks down, he added. Trump said on Friday he did not immediately need to consider retaliatory tariffs on countries such as China for buying Russian oil but might have to "in two or three weeks". This article was generated from an automated news agency feed without modifications to text.
Yahoo
9 hours ago
- Business
- Yahoo
Electronic Arts Stock: Is Wall Street Bullish or Bearish?
Redwood City, California-based Electronic Arts Inc. (EA) develops, markets, publishes, and delivers games, content, and services for consoles, PCs, mobile phones, and tablets worldwide. With a market cap of $43.7 billion, Electronic Arts distributes its products through multiple distribution channels as well as directly to consumers through its online portals. While the gaming giant has slightly lagged behind the broader market over the past year, it has significantly outperformed in 2025. EA stock has surged 14% over the past 52 weeks and 15.6% on a YTD basis, compared to the S&P 500 Index's ($SPX) 16.1% gains over the past year and 9.7% returns in 2025. More News from Barchart Trade the Warren Buffett Rally in UnitedHealth Stock With This High-Reward, Low-Risk Options Strategy Cathie Wood Is Buying BLSH Stock After the Bullish IPO. Should You? Apple Expects $1.1 Billion Tariff Hit in 4th Quarter After $800 Million Q3 Hit; CEO Tim Cook Warns 'Many Factors That Could Change' Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! However, the stock has notably underperformed the industry-focused VanEck Video Gaming and eSports ETF's (ESPO) surge of 68% over the past year and 38.2% on a YTD basis. Electronic Arts had a resilient start to fiscal 2026, the company's stock prices shot up 5.7% in a single trading session following the release of its Q1 results on Jul. 29. Driven by growth in full game revenues, the company's overall topline for the quarter inched up 66 bps year-over-year to $1.67 billion, surpassing the consensus estimates by a notable 4.7%. Meanwhile, the company reported a 28.2% year-over-year decline in net income to $201 million, but it came ahead of Street expectations. Further, the company expects to observe a significant sequential growth in net bookings and revenues. In Q2, the company expects to register between $1.8 billion - $1.9 billion in net bookings, up from $1.3 billion in Q1. At the same time, its net revenues are expected to reach approximately $1.75 billion to $1.85 billion in Q2. For the full fiscal 2026, ending in March, analysts expect EA to deliver an EPS of $6.16, up 27% year-over-year. The company has a mixed earnings surprise history. While it surpassed the Street's bottom-line estimates thrice over the past four quarters, it missed the projections on one other occasion. The stock has a consensus 'Moderate Buy' rating overall. Of the 28 analysts covering the stock, opinions include 10 'Strong Buys,' two 'Moderate Buys,' and 16 'Holds.' This configuration is slightly more optimistic than two months ago, when eight analysts gave 'Strong Buy' recommendations. On Aug. 12, DA Davidson analyst Wyatt Swanson reiterated a 'Neutral' rating on EA stock and raised the price target from $150 to $160. As of writing, EA's mean price target of $173.46 represents a modest 2.5% premium to current price levels. Meanwhile, the street-high target of $210 suggests a notable 24.1% upside potential. On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Zawya
11-08-2025
- Business
- Zawya
Jordan: ACT receives Port Environmental Review System certification from ESPO
AMMAN — The Aqaba Container Terminal (ACT) has become the first port in the region to receive the Port Environmental Review System (PERS) certification from the European Sea Ports Organisation (ESPO) and join the certified European EcoPorts network. The achievement positions the ACT as a regional leader in the sustainable port management, aligning its operations with the highest international environmental standards, the Jordan News Agency, Petra, reported. The internationally recognised accreditation follows a "rigorous" assessment of ACT's environmental policies and practices, including its "integrated" environmental strategy, "detailed" risk and compliance evaluations and transparent reporting in addition to strict adherence to marine and terrestrial cleanliness standards. The review also confirmed the port's "full" compliance with environmental regulations and its dedication to resource allocation for sustainable operations. ACT CEO Harold Nijhoff called the recognition a "milestone moment" for the terminal and the wider region. "As the first port in the region to join the EcoPorts network, we are setting a new benchmark for environmental responsibility and operational excellence," he said. "This achievement reflects our team's unwavering commitment to shaping a sustainable future for the region and beyond.' The certification was awarded after the ACT passed a 'stringent' external audit, which included a comprehensive review of its procedures and documentation, supported by over 64 pieces of evidence proving compliance with the ESPO's environmental management standards, he added. The ACT views the PERS certification as a strategic step in its long-term vision to become a world-class, sustainable logistics hub that supports the green economy, embraces global environmental trends, and boosts operational efficiency through eco-friendly innovations, Petra reported. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
09-08-2025
- Business
- Jordan Times
ACT receives Port Environmental Review System certification from ESPO
AMMAN — The Aqaba Container Terminal (ACT) has become the first port in the region to receive the Port Environmental Review System (PERS) certification from the European Sea Ports Organisation (ESPO) and join the certified European EcoPorts network. The achievement positions the ACT as a regional leader in the sustainable port management, aligning its operations with the highest international environmental standards, the Jordan News Agency, Petra, reported. The internationally recognised accreditation follows a "rigorous" assessment of ACT's environmental policies and practices, including its "integrated" environmental strategy, "detailed" risk and compliance evaluations and transparent reporting in addition to strict adherence to marine and terrestrial cleanliness standards. The review also confirmed the port's "full" compliance with environmental regulations and its dedication to resource allocation for sustainable operations. ACT CEO Harold Nijhoff called the recognition a "milestone moment" for the terminal and the wider region. "As the first port in the region to join the EcoPorts network, we are setting a new benchmark for environmental responsibility and operational excellence," he said. "This achievement reflects our team's unwavering commitment to shaping a sustainable future for the region and beyond.' The certification was awarded after the ACT passed a 'stringent' external audit, which included a comprehensive review of its procedures and documentation, supported by over 64 pieces of evidence proving compliance with the ESPO's environmental management standards, he added. The ACT views the PERS certification as a strategic step in its long-term vision to become a world-class, sustainable logistics hub that supports the green economy, embraces global environmental trends, and boosts operational efficiency through eco-friendly innovations, Petra reported.
