OIL: CHINA VS VIETNAM
Vietnam has gone around the world to make "irresponsible accusations" against China, China's Ministry of Foreign Affairs said on Thursday.
Ministry spokesman Hong Lei made the comments at a regular briefing on Thursday.
Vietnam is embroiled in a territorial row with China that flared up after Beijing deployed an oil rig in disputed waters in the South China Sea.
China's positioning of its biggest mobile oil rig in disputed waters in the South China Sea seriously threatens peace, stability, and maritime safety, Vietnam's prime minister said on Wednesday, urging the international community to condemn Beijing's action.
Nguyen Tan Dung held two-way talks with Philippine President Benigno Aquino during an official two-day visit to Manila to discuss defence and security and economic and cultural ties.
"China's illegal placement of the oil rig seriously threatens peace, stability, maritime safety and freedom of navigation in the East Sea," the Vietnamese prime minister said in a statement after the meeting at the presidential palace in Manila.
"The two sides are determined to oppose China's violations and called on the international community to condemn China's actions."
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PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.
AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.
WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.
REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.