Middle East & Africa
Tuesday, 18 September 2012 12:59
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DUBAI: Royal Dutch Shell's Majnoon oilfield may miss a 2012 target of 175,000 barrels per day, an executive said on Tuesday, hampered by pipeline construction delays.
"It would be fair to say the progress has been slower than we originally hoped," Mark Carne, executive vice president, Middle East and North Africa, at Shell Upstream International. "But I am very pleased with how the project is developing."
Asked if the 2012 target of 175,000 barrels per day could slide into next year, Carne said: "It is certainly plausible."
Wary of losses, Shell has asked Iraq for a waiver to start recovering costs if Majnoon, which is shut for maintenance, does not meet its first commercial production target by year-end - a contract requirement before costs can be retrieved, according to documents seen by Reuters.
Copyright Reuters, 2012 ...
NAIROBI: The top price of Kenya's benchmark grade AA coffee fell to $302 per bag at this week's auction from $312 fetched at the previous sale on quality fears although volumes increased.
The Nairobi Coffee Exchange (NCE) said on Tuesday that out of the 20,729 bags offered, some 12,898 were sold, an improvement from last week when buyers only took up 8,148 of the 20,714 bags offered.
"There is a big concern over the quality of crop ...
ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached around 1,348,000 tonnes by Sept. 9, exporters estimated on Monday, compared with 1,429,393 tonnes in the same period of the previous season.
Exporters estimated around 9,000 tonnes of beans were delivered to the West African state's two ports from Sept. 3 to Sept. 9, down from 17,501 tonnes in the same week a year ago.
Poor weather mid-way through the 2011/12 season is expected to lead ...
BAGHDAD: Iraq has issued a tender for at least 50,000 tonnes of wheat from any origin, with a closing date of Sept. 16, a source at the Iraqi trade ministry said on Thursday.
Offers should be valid until Sept. 20, the source said.
Iraq is one of the world's largest importers of wheat, much of which goes to supply a massive national food ration programme.
Copyright Reuters, 2012 ...
NAIROBI: The average price of Kenyan top grade tea fell to $4.00 per kg at auction this week from $4.04 kg last week, traders said on Tuesday.
The east African nation is the world's biggest exporter of black tea, and the crop is one of its largest foreign exchange earners, raking in $1.27 billion last year.
The Mombasa-based Africa Tea Brokers (ATB) said in a market report that Best Broken Pekoe Ones sold at $4.16-$3.84 per kg, ...
ABIDJAN: Ivory Coast's 2012/13 cotton season will yield about 340,000 tonnes, the executive secretary of the country's ginners' association said on Monday, increasing the body's forecast from the previous 300,000-315,000 tonnes.
The West African nation produced around 260,000 tonnes during the 2011/12 harvest.
"At the end of July we were at around 340,000 hectares planted. For this cotton season, we are therefore expecting at least 340,000 tonnes of cotton," said Christophe N'Dri.
The cotton season opened on May ...
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