LATEST NEWS
China Issues Second Batch of Crude Oil Import Quotas
By Tsvetana Paraskova - Dec 30, 2024
China has just given a potential boost to its crude oil imports as it has issued a second batch of import quotas for 2025 to its independent refiners, trade sources told Reuters on Monday. Unlike the state refiners, private refiners in China need to be granted import quotas to be able to import crude to process at their refineries. The Chinese authorities have now issued at least 152.49 million metric tons of crude oil import quotas to the independent refiners, the so-called teapots, according to Reuters’s sources.. What's even more striking is that, for the first time ever, the paper market for Brent crude is "net short."
The UK based company TORUS GROUP has doubled its cash reserve to 2 Billion Euros
By Syrus Mill - September 14, 2024
Torus Group is poised to become a major player in the provision of financial collateral in the form of SBLC or BG from Deutsche Bank in Frankfurt. Many more or less serious companies offer this type of service without having the capacity, causing a lot of suspicion in this sector of finance. TORUS GROUP works without intermediaries, with its own money and has recently doubled its cash reserves which reach more than two billion euros today. No payment of fees is required before a reassuring bank-to-bank contact for the customer and the provision of an irrevocable bank commitment document. The initial costs after RWA are very modest compared to the guaranteed sums which can reach several hundred million euros.
Development and Expansion of the Sarajevo and Mostar Airports
By Igor Paltyrov - January 1, 2025
Collaborating with AAFS d.o.o. on an infrastructure project in Bosnia and Herzegovina. TORUS GROUP is selected as a prime investor for the development and expansion of the Sarajevo and Mostar Airports. TORUS GROUP is committed to invest in strategic projects that have a positive impact on local communities and economies and is prepared to allocate EUR 200 million towards the funding of this project, in collaboration with AAFS d.o.o. , Reuters’ trade sources said.
