By Laila Kearney NEW YORK (Reuters) -Oil fell by nearly 2% on Monday after Israeli officials said they wanted to avoid dragging the Middle East into an all-out war while responding to a deadly rocket strike in the Israeli-occupied Golan Heights over the weekend. Brent crude oil futures settled at $79.78 a barrel, falling $1.35, …
Oil falls 2% as Israel seeks to avoid broader Middle East conflict Read More »
By Felix Onuah ABUJA (Reuters) – Nigeria’s government gave approval on Monday for state oil company NNPC Ltd to sell crude in the naira currency to the mega Dangote refinery effective immediately to help ease foreign exchange pressure. The $20 billion Dangote refinery, Nigeria’s main oil refinery and billed to be the largest in Africa …
Nigeria allows state oil firm sales in local currency to mega refinery Read More »
JOHANNESBURG (Reuters) -South Africa’s rand slipped against a stronger dollar on Monday as markets looked towards a U.S. policy decision later this week, while concerns grew over a possible escalation in conflict in the Middle East. At 1542 GMT, the rand traded at 18.48 against the dollar, about 1% weaker than its previous close. The …
South African rand slips, Middle East tension spurs safe-haven demand Read More »
CAPE TOWN (Reuters) -More equipment is being readied to contain an oil spill from a ship which ran aground and started to break apart in stormy weather on South Africa’s west coast, although there are no signs of affected wildlife yet, authorities said on Monday. Rough sea swells have battered the Panama-flagged general cargo vessel …
South Africa steps up fight to contain oil spill from grounded ship Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) -Ethiopia’s central bank floated the birr currency on Monday, a move it hopes will secure International Monetary Fund (IMF) support and enable progress on a long-delayed debt restructuring. The birr’s value against the U.S. dollar slumped by 30% to 74.73 per dollar, the country’s biggest lender, Commercial Bank of …
Ethiopia’s birr drops 30% as central bank floats currency Read More »
By Sam Tobin LONDON (Reuters) -Mozambique has substantially won its $3.1-billion lawsuit at London’s High Court against Emirati-Lebanese shipbuilder Privinvest for allegedly paying bribes in relation to the decade-old “tuna bond” scandal. The southeast African country sued Privinvest and its now late owner Iskandar Safa, alleging they paid bribes to Mozambican officials and Credit Suisse …
Mozambique wins UK lawsuit against Privinvest over ‘tuna bond’ scandal Read More »
TRIPOLI (Reuters) – Libya’s National Oil Corporation (NOC) on Sunday denied holding negotiations to supply crude oil to a refinery in Nigeria. A senior executive with Nigeria’s Dangote refinery told Reuters last week that it was in talks with Libya to secure crude for the 650,000 barrels per day plant. “The National Oil Corporation denies …
Libya’s NOC denies it is in talks to supply crude oil to Nigeria Read More »
CAIRO (Reuters) – Egypt’s Ministry of Petroleum and Mineral Resources signed two agreements with international companies on Sunday to invest $340 million to boost oil and gas production in the Mediterranean and Gulf of Suez. After discussions between Egypt’s Petroleum Minister Karim Badawi and executives from international oil and gas companies, a $222 million investment …
Egypt signs investment deals worth $340 million to boost oil and gas production Read More »
By Isaac Anyaogu LAGOS (Reuters) – Days before a nationwide protest over bad governance and a high cost of living, Nigeria is offering its young people jobs in the state-oil company and billions of naira worth of grants among other incentives to discourage the action. Nigerian activists have been looking to emulate youth-led protests elsewhere …
Nigeria bids to placate youth to avert looming inflation protests Read More »
By Ahmad Ghaddar, Julia Payne and Libby George LONDON/BRUSSELS (Reuters) -Nigeria’s major Dangote oil refinery is reselling cargoes of U.S. and Nigerian crude, four trade sources familiar with the matter said on Friday. Three of the sources said the reoffer was linked to technical problems at the refinery. A Dangote executive, asked about the offers …
Nigeria’s Dangote refinery is reselling crude, sources say Read More »
