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OPEC oil output falls for second month in January on Nigeria, Iran, survey finds

5 Feb 2025

By Alex Lawler LONDON (Reuters) – OPEC oil output fell in January for a second month, a Reuters survey found, as a drop in exports from Nigeria and Iran offset a rebound from the United Arab Emirates where field maintenance had curbed output in December. The Organization of the Petroleum Exporting Countries pumped 26.53 million …

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TotalEnergies’ Namibia project seen smaller, later than expected

5 Feb 2025

PARIS (Reuters) – French oil major TotalEnergies expects to take a final investment decision (FID) on its Namibian offshore oil discovery in 2026, CEO Patrick Pouyanne said on Wednesday at a press briefing. The development would have a production capacity of 150,000 barrels per day, down from an initial 160,000 barrels per day discussed at …

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Ugandan shilling flat, to firm due to commercial bank dollar sales

5 Feb 2025

KAMPALA (Reuters) – The Ugandan shilling UGX=> was unchanged on Wednesday and was seen firming, helped by commercial banks trimming their long dollar positions, traders said. At 0834 GMT, commercial banks quoted the shilling at 3,675/3,685, the same level as Tuesday’s close. (Reporting by Elias Biryabarema; Editing by George Obulutsa)

Kenya shilling steady versus dollar, LSEG data shows

5 Feb 2025

NAIROBI (Reuters) – Kenya’s shilling was unchanged against the dollar on Wednesday, data from the London Stock Exchange Group showed. At 0725 GMT, the shilling quoted at 128.90/129.40, unchanged from Tuesday’s closing rate. (Reporting by George Obulutsa; Editing by Elisha Bala-Gbogbo)

Uganda detains 9 finance ministry officials over central bank hack

5 Feb 2025

KAMPALA (Reuters) – Uganda’s police have detained nine finance ministry officials as part of an investigation into accusations of hacking the central bank’s electronic systems that resulted in theft of 62 billion shillings ($16.87 million), the ministry and police said. In November last year, State Minister for Finance Henry Musasizi confirmed reports in local media …

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Africa Energy Bank targets mid-year launch with South Africa indicating interest

4 Feb 2025

By Nqobile Dludla CAPE TOWN (Reuters) – The proposed Africa Energy Bank, which aims to fund oil and gas projects across the continent, is set to start operations by mid-year this year, with South Africa also indicating interest to join, an Afreximbank official said. The bank, a partnership between Afreximbank and the African Petroleum Producers …

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Egypt’s GASC signs $700 million ITFC loan deal to bolster food security

4 Feb 2025

CAIRO (Reuters) – Egypt’s General Authority for Supply Commodities (GASC) has signed a $700 million loan agreement with the Islamic Trade Finance Corporation (ITFC) to bolster its food security efforts, an Egyptian cabinet statement showed on Tuesday. The loan from is part of ongoing cooperation between Egypt and the Saudi organisation, which has played a …

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