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Oil Prices Drop To Two-Month Lows On US Fuel Stockpile Build
CHU KONG PIPE (01938.HK) plans to sell land in Yun'an District, Yunfu, Guangdong for 30.25 million yuan.
On February 25, Gelonghui reported that CHU KONG PIPE (01938.HK) announced that on December 27, 2024, its indirect wholly-owned subsidiary CHU KONG PIPE (Yunfu) signed an agreement with the Yunfu City Yun'an District Land Reserve Center, wherein the Yunfu City Yun'an District Land Reserve Center agreed to purchase, and CHU KONG PIPE (Yunfu) agreed to sell land. The price is 30.25 million yuan. The land has not yet been developed and was originally purchased for establishing a steel pipe production line in Yunfu. The total area of the land is approximately 129,402 square meters, located in the Huangwan Village Committee area of Dakeng Village in Liudu Town, Yun'an District, Yunfu City, Guangdong, China. The land is currently designated for industrial use.
Express News | Chu Kong Petroleum and Natural Gas Steel Pipe - Land Sale Agreement for RMB30.25 Million
New U.S. Sanctions Target Iran's Oil Supply Chain Amid Trump's 'Maximum Pressure' Push -- WSJ
Not afraid of pressure from Trump? Traders expect OPEC+ to delay the production increase plan for April again.
Despite Trump pressuring for a price cut, traders generally expect that due to a potential oversupply in the Global market, OPEC+ will postpone the planned monthly production increase set to start in April by one to three months. This is the fourth time since 2022 that OPEC+ has delayed plans to restore oil production.
Oil Rises on Supply Fears -- Market Talk