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Web Exclusive | May 2017

NSG upgrades FY2017 revenue forecast for oil trading

New Silkroutes Group Limited (NSG) has raised its revenue forecast for oil trading by 29 per cent to $400 million for FY2017, following another quarter of strong performance by its wholly-owned International Energy Group Pte Ltd (IEG). Singapore-headquartered IEG, which trades primarily crude components and distillates, generated revenue of $125.1 million in Q3FY2017, its best quarterly performance since it commenced operations in June 2015.The improved performance, driven by increased transactions and trading volumes, lifted IEG's revenue for the first nine months of FY2017 to $318.0 million.
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