By Scott DiSavino NEW YORK (Reuters) – Oil prices eased on Thursday, settling lower as traders remained worried about the U.S. economic outlook a day after the U.S. Federal Reserve cut interest rates for the first time this year. Brent crude futures fell 51 cents, or 0.8%, to settle at $67.44. U.S. West Texas Intermediate …
Oil prices settle lower, US economic concerns outweigh Fed rate cut Read More »
LIMA (Reuters) -Peru’s President Dina Boluarte said on Wednesday she had signed the modification of a hydrocarbon exploration and exploitation contract that would allow U.S. firms Chevron and Westlawn to formally enter the country. The contract formalizes the companies’ entry via a consortium operated by Texas-based Anadarko [APCFC. UL], a subsidiary of Occidental Petroleum Corporation. …
Peru president signs contract allowing Chevron, Westlawn entry Read More »
By Isaac Anyaogu LAGOS (Reuters) -African petroleum regulators led by Nigeria have launched a continental forum aimed at harmonising oil regulation in a bid to attract crucial investment across the region’s burgeoning energy sector, the Nigerian oil regulator said in a statement. Due to declining investment dollars, African oil regulators are betting that a more …
Nigeria leads continent-wide push for unified oil regulations Read More »
(Reuters) -South Africa’s logistics company Transnet on Thursday said it has agreed a 10-year partnership deal with German equipment maker Liebherr for the supply of cranes as it seeks to upgrade and modernise its port operations. The two parties have also agreed on a 20-year asset management programme, which will see Liebherr provide equipment maintenance, …
S.Africa’s Transnet agrees port equipment deal with Liebherr Read More »
GABORONE (Reuters) -The sale of diamonds through tenders and auctions is opaque and inefficient and should be revamped for producers to earn more and to survive the current price slump, a leading gem trader said on Thursday. Oded Mansori, co-founder and managing partner of Belgian gem trader HB Antwerp, said the impact on producers could …
Diamond selling processes are outdated and hurting producers, trader says Read More »
JOHANNESBURG (Reuters) – The South African rand was largely flat after the central bank kept interest rates unchanged as it cautiously monitored the effect of previous cuts. At 1402 GMT, the rand traded at 17.41 against the dollar, near Wednesday’s closing level. South Africa’s central bank kept its key interest rate unchanged at 7%, in …
South African rand flat after central bank keeps key rate unchanged Read More »
By Anathi Madubela, Sfundo Parakozov and Alexander Winning PRETORIA (Reuters) – South Africa’s central bank left its key lending rate at 7% in a tight decision, holding off from easing monetary policy further while it assesses the impact of previous rate cuts. Thursday’s policy announcement was the first since the South African Reserve Bank (SARB) …
South African central bank holds key rate to assess impact of earlier cuts Read More »
By Nidhi Verma NEW DELHI (Reuters) -India’s state-run Oil India Ltd expects a $20-billion, TotalEnergies-operated Mozambique liquefied natural gas project in which it owns a stake to restart development by the end of this year, its chairman Ranjit Rath said on Thursday. TotalEnergies halted construction of the project and imposed force majeure in 2021 following …
Oil India sees restart of Mozambique LNG project by year’s end Read More »
By Ananta Agarwal (Reuters) -Indian textile manufacturer Gokaldas Exports plans to boost shipments to the European Union and the United Kingdom, and expand production in Africa, as punitive U.S. tariffs threaten to sap profits, the company’s top executive said. Gokaldas, which makes about 75% of its standalone sales in the United States and counts Walmart, …
India’s Gokaldas eyes EU growth, Africa expansion to counter Trump’s tariffs Read More »
By Ernest Scheyder (Reuters) -Ivanhoe Mines is in constant dialogue with sovereign wealth funds for potential investments aimed at supporting the company’s push to boost production of copper and other critical minerals, Co-Chairman Robert Friedland told Reuters on Wednesday. Vancouver-based Ivanhoe said earlier on Wednesday that Qatar’s sovereign wealth fund would invest $500 million as …
