08262016Fri
Last update: Fri, 26 Aug 2016 06am

Middle East & Africa

Markets - Energy - Middle East & Africa

Iraq southern oil exports average 3.14 million bpd so far in June BASRA: Oil exports from Iraq's southern ports are averaging 3.144 million barrels per day (bpd) so far in June, down from May due to maintenance work and weather, a South Oil Co. official said on Tuesday. State-run South Oil oversees Iraq's operations in the southern provinces that produce most of the OPEC's nation's crude.Iraq exported 3.2 million bpd in May and 3.364 million bpd in April from its southern ports, according to official figures."There are expectations that the daily average will return to the previous level as periodic maintenance carried out on different facilities is finished," the official said.The central government in Baghdad halted exports from the northern Kirkuk fields in March because of a financial dispute with the Kurdish self-rule administration in the region.The Kurds exported about 513,000 bpd of crude in May, independently from Baghdad, via a pipeline to Turkey.Copyright Reuters, 2016 ...

Markets - Energy - Middle East & Africa

Saudi Arabia's crude oil exports fall in April despite high output DUBAI: Saudi Arabia's crude oil exports in April fell despite high production levels, while more crude was used domestically for power generation and to feed rising demand from local refineries. Crude exports in April fell to 7.444 million barrels per day from 7.541 million bpd in March, official data showed on Monday. The world's largest oil exporter and OPEC heavyweight produced 10.262 million bpd in April, compared with 10.224 million bpd a month earlier, the ...

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 ...

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 ...