07282016Thu
Last update: Thu, 28 Jul 2016 07pm

Middle East & Africa

Markets - Energy - Middle East & Africa

Iran says Japan has bought more than 200,000 bpd in the last month DUBAI: Iran's oil export chief said on Monday that Japan had bought more than 200,000 barrels of oil per day from Tehran in the last month, indicating the two countries are ready to move beyond their current contract terms.Japan has a contract to buy 160,000 bpd from Iran but its purchases have gradually increased over the last three months, Mohsen Ghamsari, director for international affairs at the National Iranian Oil Company (NIOC), was quoted by the oil ministry's news agency SHANA as saying.Copyright Reuters, 2016 ...

Markets - Energy - Middle East & Africa

Egypt plans to import up to 120 cargos of LNG in 2017 CAIRO: Egypt aims to import between 110 and 120 cargos of liquefied natural gas in 2017, the state-owned Egyptian Natural Gas Holding company (EGAS) told Reuters on Sunday. Separately, three trade sources said EGAS had purchased 10 cargoes of LNG from trade house Trafigura and one from PetroChina earlier this month. Egypt relies to a large extent on LNG to generate electricity for its 90 million people. Once an energy exporter, Egypt has turned into ...

Markets - Energy - Middle East & Africa

Colombia may crude output down 11.8pc year-on-year  BOGOTA: Colombia produced an average of 904,000 barrels of crude oil per day (bpd) in May, the Mines and Energy Ministry said on Friday.The output was down 11.8 percent from the year before, according to Reuters calculations. The ministry did not give a reason for the decline.Natural gas production fell 8.57 percent year-on-year to 960 million cubic feet per day.State-run Ecopetrol produces more than one-half of Colombia's oil, while Toronto-listed Pacific Exploration and Production Corp ...

Markets - Energy - Middle East & Africa

Nigerian stocks at 7-month high following central bank FX reforms LAGOS: Nigerian stocks hit a seven-month high in mid-trades on Friday as domestic investors snapped up shares after the central bank's currency reforms. The main share index rallied 2.33 percent to 29,152 points, lifted by gains in the consumer goods index, which is up 2.4 percent. The central bank has said it will begin market-driven foreign currency trading on Monday, abandoning a 16-month peg against the dollar that has harmed investments and caused the economy ...

Markets - Energy - Middle East & Africa

Syria hikes price of petrol by 40pc: state media DAMASCUS: Syrian authorities on Thursday decided to raise the price of fuel, the official news agency SANA said, including petrol by 40 percent.The minister of internal trade and consumer protection issued the order for the price of a litre of petrol to be increased from 160 to 225 Syrian pounds (about 90 US cents) from Friday, SANA said.The price of a cylinder of cooking gas would go up by 38 percent to 2,500 pounds, while ...

Markets - Energy - Middle East & Africa

Kenya raises retail prices of fuel NAIROBI: Kenyan consumers will pay more for fuel at the pump for the next month after the Energy Regulatory Commission raised retail prices during its monthly review on Tuesday.The ERC increased the maximum retail price of petrol in the capital, Nairobi, by 2.3 percent to 86.17 shillings ($0.8527) per litre, saying the costs of importing refined petroleum products had gone up. It also increased the retail prices of kerosene and diesel.Costs of energy and transport ...

Markets - Energy - Middle East & Africa

Kenya raises retail prices of fuel NAIROBI: Kenyan consumers will pay more for fuel at the pump for the next month after the Energy Regulatory Commission raised retail prices during its monthly review on Tuesday. The ERC increased the maximum retail price of petrol in the capital, Nairobi, by 2.3 percent to 86.17 shillings ($0.8527) per litre, saying the costs of importing refined petroleum products had gone up.It also increased the retail prices of kerosene and diesel.Costs of energy and transport ...