LAGOS (Reuters) – Nigeria’s state-owned oil firm NNPC Ltd said on Saturday it will not be the sole buyer of gasoline from Dangote refinery but would step in if the facility sold above pump prices. CONTEXT The 650,000 barrel-per-day capacity Dangote refinery started producing gasoline earlier this week, raising expectations that this would end decades …
Nigeria’s NNPC says not sole buyer of Dangote gasoline Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s oil regulator on Friday granted UTM Offshore Limited the first license to operate a floating liquefied natural gas plant, to tap flared gas from an ExxonMobil oil field in the Niger Delta. Such plants are springing up on the continent as Africa seeks to tap its gas resources. …
Nigeria licenses first floating LNG plant for export and domestic use Read More »
By Sinéad Carew and Nell Mackenzie NEW YORK/LONDON (Reuters) -MSCI’s global equities gauge fell more than 1% on Friday and U.S. Treasury yields dropped as investors worried about the health of the economy after a mixed U.S. jobs report cemented expectations for the Federal Reserve to lower interest rates this month, but created uncertainty about …
Global stock index, Treasury yields fall after mixed US jobs report Read More »
By Nicole Jao NEW YORK (Reuters) -Oil prices settled 2% lower on Friday, with a big weekly loss after data U.S. jobs data was weaker than expected in August, which outweighed price support from a delay to supply increases by OPEC+ producers. Brent crude futures were down $1.63, or 2.24%, to $71.06 a barrel, their …
Oil settles down 2%, big weekly drop after US jobs data Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose in volatile trading on Friday after data showed U.S. employment grew less than expected in August, but indicated only a steady slowdown in the labor market, likely supporting gradual interest rate cuts by the Federal Reserve. Nonfarm payrolls increased by 142,000 jobs last month after …
Dollar rises after August US payrolls report paints mixed picture Read More »
By Tannur Anders JOHANNESBURG (Reuters) -The South African rand slipped on Friday after U.S. data suggested a big Federal Reserve interest rate cut was likely not warranted, while the country’s benchmark government bond hit an almost three-year high on improved investor sentiment. At 1517 GMT, the rand traded at 17.835 against the dollar, about 0.8% …
South African rand slips, bonds hit 3-year high on improved sentiment Read More »
NAIROBI (Reuters) -Kenya suffered its second major blackout in a week on Friday, although electricity was restored to 70% of customers by late afternoon, national distributor Kenya Power and the energy minister said. The power cut was caused when a transmission line tripped at a substation, followed by a second trip on the Ethiopia-Kenya high …
Kenya suffers second major blackout in week, 70% of power restored Read More »
JOHANNESBURG (Reuters) – South Africa’s Land Bank has reached an agreement with its lenders to cure its debt default, the South African government said on Friday. The state-owned agricultural bank defaulted on its debt in April 2020 and missed a restructuring deadline in March 2021. It had failed to agree a “liability solution” to emerge …
South Africa’s Land Bank reaches deal with lenders to cure default Read More »
JOHANNESBURG (Reuters) – The board of Africa’s biggest mobile network operator MTN Group said on Friday it was in full support of its group CEO Ralph Mupita after an independent report found no evidence to support anonymous allegations of improper conduct against him. South Africa’s Sunday Times newspaper reported on Sunday that a number of …
MTN board says it is in full support of CEO Mupita after allegations Read More »
By Sinéad Carew and Marc Jones NEW YORK/LONDON (Reuters) -MSCI’s global equities index edged down on Thursday as investors digested mixed economic data while they anxiously waited for Friday’s crucial U.S. jobs report and oil prices held near 14-month lows as demand worries offset draws on inventories. U.S. Treasury yields fell and two-year yields reached …
Global equity index slips ahead of US jobs data; oil steadies Read More »
