Energy:1. Consul General of Iran in Pakistan: Iran, Pakistan are considering how to complete the gas pipeline project. 2. Sources: Russia's Tuapse refinery, which was damaged by a fire in January, has now resumed oil processing. 3. Russian Ministry of Energy: Russia has fully compensated for the loss of fuel production due to the shutdown of refineries in April. 4. According to Interfax: Russia's Astrakhan gas processing plant will be shut down for maintenance on May 10. 5. Sources: India's Fidelity has resubmitted a request to the US Treasury Department for a license to import Venezuelan oil. 6. Spain's Strategic Reserve for Petroleum Products (Cores): Spain's crude oil imports rise 4.8% year-on-year to 4.9 million mt in March. 7. Russian Ministry of Finance: In April, Russia's state oil and gas sales budget revenue was 1.23 trillion rubles, down from 1.3 trillion rubles in March. 8. U.S. Energy Security Advisor Amos Hochstein: The U.S. Strategic Petroleum Reserve has sufficient supply to deal with any supply concerns and the government is monitoring the market situation. 9. Sources: Shell is in talks with Saudi Aramco over the sale of its petrol station business in Malaysia. The deal could value Shell's petrol station business in Malaysia at as much as US$1 billion. 10. ADNOC, the UAE's Abu Dhabi national oil company: priced Murban crude at $89.14 per barrel in June. Set the June UMM LULU crude oil price at a contango of $0.2/b to Murban crude. Set the price of Dass crude oil for June at a premium of $0.75 per barrel to Murban crude. Other:1. Market news: EU approves Nippon Steel's acquisition of U.S. steel. 2. Market news: Turkey halted Bosphorus shipping due to the grounding of ships. 3. India increased its gold holdings by 5.101t to 822.117t in March 2024, IMF data showed. 4. Israeli tanks entered Rafah, and Israeli forces took control of the Palestinian side of the Rafah crossing in Gaza. In response to the fact that Hamas agreed to a draft ceasefire protocol that included a complete Israeli withdrawal from Gaza, the Israeli side said that the protocol was far from Israel's demands, and that the wartime Cabinet unanimously decided to continue military operations in Rafah but to continue negotiations on a ceasefire. 6. Maersk: The impact of the Red Sea situation is widening and continues to cause chaos across the industry, with Asia-Europe routes being cut by 15-20% in Q2 due to Red Sea issues.
