The Canadian arm of Macquarie hassealed a deal to supply crude to a New-foundland refinery and buy its products, thelatest sign of the Australian bank challenging rivals in the physical energy market.The deal with Korea National Oil Corp’s(KNOC) 115,000 b/d refinery in Come ByChance, Newfoundland, is the latest in a se-ries of arrangements by which an invest-ment bank guarantees supply and offtakewith a refinery operator, giving it valuabletrading opportunities in the cash market.
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