Tag Archives: gets

Russia’s Rosneft gets deal to supply Trafigura with diesel in 2016 – traders

MOSCOW Dec 11 Russia’s leading oil producer Rosneft and Swiss trader Trafigura have signed a deal, which involved forward financing, on diesel provide in 2016 from the Baltic Sea port of Primorsk and Pacific outlet of Nakhodka, traders said on Friday.

Rosneft will sell up to three million tonnes of ultra-low sulphur diesel from Primorsk and up to two.9 million tonnes of 500 ppm sulphur diesel from Nakhodka. Trafigura will also secure up to 1 million tonnes of bunker fuel from Nakhodka.

Each firms declined to comment.

Rosneft has enjoyed offers with traders under which they prepay for future fuel supplies.

The organization stated in its monetary report that it received pre-payments worth far more than 1 trillion roubles ($ 15.three billion) below its long-term supply contracts with customers in the third quarter, supplying money that has helped the heavily-indebted group repay a substantial element of its quick-term debt. (Reporting by Gleb Gorodyankin, Olga Yagova and Natalya Chumakova writing by Vladimir Soldatkin editing by Jack Stubbs)

India gets cash flowing in flood-hit south as banks open Sunday

MUMBAI India’s banks will perform on Sunday to help residents left without meals, power and access to funds in the flood-hit southern city of Chennai and surrounding locations, as cash dispensers have been emptied or lost power due to electrical energy outtages.

India’s fourth largest city was swamped by torrential rains – the heaviest in a century – for the duration of the previous five days, and the government has asked banks to restore basic solutions and provide money machines as swiftly as attainable, replenishing cash by boat or providing mobile ATMs if required.

In a statement late on Saturday, the Reserve Bank of India, the country’s central bank, mentioned it would remain open to support bank transactions and support provide cash to nearby lenders.

About 280 folks have died across Tamil Nadu state considering that it was hit by torrential rains on Dec. 1 that left big sections of capital Chennai below up to eight feet (two.five metres) of water, and trapped folks on rooftops with no communication.

(Reporting by Clara Ferreira Marques Editing by Simon Cameron-Moore)

National Bank of Greece gets two.71 bln euro state aid by the European Commission

ATHENS The European Commission approved on Friday state aid of two.71 billion euros for National Bank of Greece (NBGr.AT), primarily based on a modified restructuring strategy.

The commission concluded that measures the National Bank of Greece has already implemented will enable it to safe a grant of credit to the Greek economy, according to the European Union’s rules on state help.

“With the completion of the recapitalization of the 4 systemic banks of Greece and the quite important participation of the private sector, one particular a lot more element of uncertainty was eliminated,” said European Commissioner Pierre Moscovici.

“This improvement is a good step to make sure the sustainable restoration of self-assurance in Greece.”

A European Central Bank well being verify in October found National Bank of Greece, the country’s biggest lender by assets, would have a capital shortfall of 4.six billion euros ($ 4.86 billion) beneath the most adverse scenario.

(Reporting by Lefteris Karagiannopoulos Editing by Catherine Evans)