JX Nippon Oil & Energy is receiving close to $15 million in the first year after acquiring Petrolimex shares. This, coupled with the fact that there are 29 petroleum import-export distributors in Vietnam, makes the petroleum retail market especially lucrative. SEE MORE European crackers continue their efforts to increase competitiveness by using cheaper gaseous feedstocks. SEE MORE Discounts for floating price cargoes for August and September increased in value, with offers for cargo based on 50% of the average of the August CFR Taiwan/China marker and 50% of the August Asian Contract Price seen at $6.50/mt. This stood in contrast to the term discounts, which are about $2.50/mt. SEE MORE Further negotiations will be needed in September after EU carbon market legislative reform talks on Monday led to little progress, an EU source said late Monday. SEE MORE Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consumption during the summer, while staying within its OPEC production commitment, a Saudi industry source said. SEE MORE