By Marwa Rashad and Ron Bousso LONDON (Reuters) – Egypt is seeking large volumes of gas from global markets this summer with deferred payments of up to six months, terms that market sources said would narrow the list of bidders and increase premiums at a time of high competing demand from Asia. The most populous …
Egypt seeks deferred payment in summer LNG tender, sources say Read More »
By Tife Owolabi YENAGOA, Nigeria (Reuters) -Nigerian energy firm Aiteo has shut down all oil production at its Nembe Creek facility, nearly 50,000 barrels per day of output, after detecting a leak, the company said on Wednesday. Aiteo Eastern E&P said the leak was reported on Monday during routine operations in the Nembe area of …
Nigeria’s Aiteo halts up to 50,000 bpd oil output after leak Read More »
By Stefano Rebaudo (Reuters) -The dollar struggled for direction on Wednesday while the euro remained close to its recent lows on concerns that a new government in France could weaken fiscal discipline, increasing the debt risk premium across the euro area. Meanwhile sterling rose after data showed British service inflation was stronger than expected. U.S. …
Dollar struggles for direction, euro close to 1-1/2-month low Read More »
(Error in headline) By Isaac Anyaogu LAGOS (Reuters) – Nigeria’s state oil firm NNPC Ltd and TotalEnergies will invest $550 million to develop a gas processing facility in southern Rivers state to boost exports and domestic supplies, an NNPC source said on Wednesday. The investment would include a gas processing plant and a pipeline, said …
TotalEnergies, NNPC to invest $550 million in Nigeria gas facility, source says Read More »
By Kopano Gumbi JOHANNESBURG (Reuters) – Investors are optimistic South Africa’s new unity government can deliver stable economic policies to revive growth, but are cautious about how the new coalition’s main partners can reconcile stark ideological differences. The African National Congress (ANC) – which has governed since a vote in 1994 that marked the end …
By Bhargav Acharya JOHANNESBURG (Reuters) -South African inflation was stable in May, data showed on Wednesday, but analysts do not expect interest rate cuts any time soon as it remains above the central bank’s desired level. Headline consumer inflation came in at 5.2% year on year in May, the same as in April, in line …
South African inflation stable but still above central bank objective Read More »
By Nyasha Nyaungwa WINDHOEK (Reuters) -Namibia’s central bank kept its main interest rate unchanged on Wednesday, responding to a slight uptick in inflation and protecting the local currency’s peg to the South African rand. The repo rate has been at 7.75% since June 2023. Consumer inflation edged up to 4.9% in annual terms in May …
Namibia central bank holds main rate as inflation ticks higher Read More »
By Georgina McCartney HOUSTON (Reuters) -Oil settled more than 1% higher on Tuesday due to escalating geopolitical risk in Europe and the Middle East, where wars continue to threaten global supply. Brent crude futures settled up $1.08, or 1.3%, at $85.33 per barrel. U.S. West Texas Intermediate crude futures ended $1.24, or 1.5%, higher at …
Oil settles over 1% higher on mounting tension in Europe, Mideast Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks advanced for a second straight session on Tuesday and U.S. Treasury yields fell after a softer-than-expected report on consumer spending, while investors digested comments from multiple Federal Reserve officials on interest rates. Retail sales rose 0.1% last month after a downwardly revised 0.2% …
Stocks gain, US yields decline after retail sales data Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar eased against the euro on Tuesday after retail sales data indicated signs of exhaustion among U.S. consumers, boosting the case for Federal Reserve rate cuts later this year. U.S. retail sales increased less than expected in May as lower prices for gasoline and motor vehicles weighed …
Dollar eases after US retail sales miss expectations in May Read More »
