By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar drifted lower on Wednesday in thin rangebound trading, with investors looking ahead to Thursday’s U.S. consumer prices report for indications on where the Federal Reserve’s monetary policy is headed. The greenback posted steeper losses earlier in the session, particularly after data showing the Chinese economy …
US dollar inches lower ahead of inflation report Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices hit new peaks on Wednesday with the global Brent benchmark touching its highest since January after a steep drawdown in U.S. fuel stockpiles and Saudi and Russian output cuts offset concerns about slow demand from China. Brent crude settled $1.38, or 1.6%, higher at $87.55 a barrel, its …
Oil hits new highs on US fuel demand, tighter supply Read More »
By Tife Owolabi YENAGOA (Reuters) – Nigeria LNG on Wednesday said the force majeure it declared in October due to widespread flooding that disrupted supply is continuing. Force majeure refers to unexpected external circumstances that prevent a party to a contract from meeting obligations “The force majeure still subsists as the unavailability of upstream gas …
Nigeria LNG’s force majeure declared in October to continue Read More »
MILAN (Reuters) – Italian energy services group Saipem on Wednesday said it had won a new contract in Libya worth around $1 billion for the development of the Bouri Gas Utilisation Project (BGUP). The contract was awarded by Mellitah Oil & Gas B.V. Libyan Branch, a consortium of the National Oil Corporation of Libya and …
Italy’s Saipem wins $1 billion gas service contract in Libyan off-shore Read More »
RABAT (Reuters) – Morocco’s renewable energy agency Masen launched a prequalification tender on Wednesday for the third phase of a solar power project in the Atlas mountains. The tender asks developers to submit prequalification documents by Oct. 20 to finance, build and operate the 400-megawatt (MW) Noor Midelt III using photovoltaic (PV) technology. Masen appointed …
Morocco tenders for 400 MW solar plant in Atlas Mountains Read More »
By Joanna Plucinska, Rajesh Kumar Singh, Doyinsola Oladipo and Priyamvada C LONDON/CHICAGO/NEW YORK (Reuters) -The post-pandemic travel boom and the high ticket prices that come with it show no signs of slowing well into next year, despite economic uncertainty and dwindling household savings. While questions linger about how much longer consumers will continue to indulge, …
By Stephanie Kelly NEW YORK (Reuters) -Oil prices edged higher on Tuesday as a U.S. government agency projected a rosier outlook on the economy, but bearish data on China’s crude imports and exports weighed. Brent crude futures gained 83 cents to settle at $86.17 a barrel. U.S. West Texas Intermediate crude rose 98 cents to …
Oil edges up on higher US economic growth outlook; China import slump weighs Read More »
By Herbert Lash NEW YORK (Reuters) – Global stocks skidded and the dollar jumped on Tuesday after Moody’s cut the credit ratings of 10 small- to mid-sized U.S. banks and China’s trade data was worse than forecast in July, raising concerns about the global economic outlook. The yuan slid to a three-week low as Asian …
Global stocks fall, dollar rallies on weak China data Read More »
BAMAKO (Reuters) -Mali adopted a new mining code on Tuesday that mining sector officials said would channel a greater share of revenue to state coffers and increase state and private Malian interests in new projects. The government announced the review of the mining code in January after it said an internal audit had shown that …
Mali adopts new mining code that boosts state interests Read More »
ABUJA (Reuters) – The World Trade Organization’s director-general said on Tuesday she discussed measures, including support from the agency, with Nigerian President Bola Tinubu that could help cushion the impact of ending a subsidy on petrol that has increased the cost of living in Africa’s largest economy. Ngozi Okonjo-Iweala, who is on a private visit …
