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Global commodity inventory is in a state of emergency: inventory days of available commodities outside of China experienced the largest month-on-month decline in 31 months.
JPMorgan said that the main reason for this decline was due to the decrease in crude oil and refined product inventories. The global available days of oil and refined products in June decreased sharply by 2.5 days, the largest monthly decline in four years.
Petro-king to Defend Against Subsidiary Litigation Appeal
Express News | Petro-King Oilfield Services Ltd - as at July 2, Bank Accounts of Defendant With Aggregate Bank Balances of RMB9.4 Mln Frozen by Court
Express News | Petro-King Oilfield Services Ltd - Update on Litigation Involving a Subsidiary
Petro-King (02178) received a civil judgment from the court.
Zhixun Finance APP news, Petro-King (02178) announced that on June 11, 2024, the defendant (a wholly-owned subsidiary of the company in China) received a civil ruling (ruling) issued by the court dated May 31, 2024, regarding claims. According to the ruling: (i) the defendant should pay the plaintiff a total of RMB 12.63 million in technical service fees, together with any accrued interest since November 30, 2023 (not the amount of approximately RMB 28.90 million plus any accrued interest claimed by the plaintiff); (ii) reject the plaintiff's claim against the defendant.
Express News | Petro-King Oilfield Services - as of June 12, Bank Accounts of Unit With Aggregate Bank Balances of RMB8.2 Mln Has Been Frozen by Court
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