The spot price of imported LNG into Japan, one of world's biggest importers of the super-cooled fuel, has more than halved in the last year.
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Brent crude was down 63 cents, or 1.1 per cent, at $ 58.71 a barrel by 0232 GMT, having earlier touched $ 58.24, the lowest since Aug. 15.
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India currently imposes a 40 per cent import tax on crude palm oil and 50 per cent on refined palm oils.
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Brent crude rose 29 cents, or 0.5%, to $60.21 a barrel by 0629 GMT, while U.S. crude futures were at $55.53 a barrel, up 18 cents, or 0.3%. Both contracts were on track for a second week of gains.
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Crude oil imports into the world’s third-largest consumer declined 1.2 per cent from a year earlier to 19.34 million tonnes, but increased 14.6 per cent from the previous month.
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Brent crude futures dropped 9 cents, or 0.2 per cent, to $ 60.21 a barrel by 0440 GMT on Thursday. West Texas Intermediate (WTI) crude futures were down 2 cents at $ 55.66 per barrel.
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GAIL currently operates 11,000-km of pipeline network and markets two-thirds of all natural gas sold in the country.
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Shell exercised its option to exit MGL as the lock-in period for minimum promoter holding expired last month.
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