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Middle East & Africa

Markets - Energy - Middle East & Africa

Egypt to receive first LNG shipment from Rosneft in May CAIRO: Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday. Last year Egypt and Rosneft signed a memorandum of understanding for a slew of petroleum products as well as 24 LNG cargoes. Only five of the 24 initially agreed cargoes were later inked into a final deal. "We're receiving the first shipments of LNG from Rosneft this month out of the five shipments that were agreed upon," said the EGAS official, declining to provide the value of the shipment or its size. Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas production and increasing consumption.It is trying to speed up production at recent discoveries to fill its energy gap as soon as possible. Rosneft, Russia's biggest oil producer, does not ...

Markets - Energy - Middle East & Africa

Oil shipments from Georgia's Batumi port fall 17pc in Jan-Apr TBILISI: Shipments of crude and refined oil products from Georgia's Black Sea port of Batumi fell 17.4 percent in January-April from a year earlier, a senior official at the terminal said on Tuesday.The terminal, operated by Kazakh state energy company KazMunaiGas , shipped 1.128 million tonnes of oil and oil products in the first four months of this year, down from 1.365 million tonnes in the same period last year, the official, who asked not ...

Markets - Energy - Middle East & Africa

South Africa's petrol pump price to increase in May JOHANNESBURG: The retail price of petrol in South Africa will increase by nearly 1 percent from May 4, while the price of wholesale diesel will largely remain steady, the energy department said on Monday. The price of petrol will increase by 12 cents to 12.74 rand per litre in the commercial hub of Gauteng province, while diesel will go down by 1 cents to 10.52 rand per litre, the department said in a statement.Copyright Reuters, ...

Markets - Energy - Middle East & Africa

Iran oil exports to South Korea rise to 400,000 bpd after sanctions lifted: Shana DUBAI: Iran's oil exports to South Korea have more than quadrupled to 400,000 barrels a day since international sanctions were lifted in January, Oil Minister Bijan Zanganeh was quoted as saying on Sunday by the Shana news agency.Iran, whose exports to South Korea were less than 100,000 barrels a day before sanctions were lifted, has since worked to quickly boost its output. It has focused on selling to its traditional customers in Asia, but has ...

Markets - Energy - Middle East & Africa

Iraq's southern oil exports rise in April to 3.364mn bpd BASRA: Iraq exported oil from southern fields at an average rate of 3.364 million barrels per day in April, higher than the March average of 3.286 million, Oil Ministry spokesman Asim Jihad said on Sunday.That is close to the record of 3.37 million bpd exported in November as OPEC's second-largest producer resumes the supply growth that has added to downward pressure on global prices.Iraq looked set to exceed that rate, with exports in the first ...

Markets - Energy - Middle East & Africa

Qatar says to liberalise fuel prices DOHA: OPEC member Qatar announced Tuesday that it will liberalise petrol and diesel prices amid concerns over the state budget with the fall of global oil prices.The change will come into force from May and prices will fluctuate each month, Mishal Al-Thani, chairman of a commission to study fuel prices, said in a statement on the official Qatar News Agency.The overhaul of the domestic market will see future prices determined by global and regional factors ...

Markets - Energy - Middle East & Africa

Qatar to let domestic fuel prices fluctuate in subsidy reform DOHA: Qatar will allow its domestic gasoline and diesel prices to fluctuate in response to changes in global markets as it seeks to reduce waste of fuel and save money for the state budget. Currently, local fuel prices are fixed at low levels, requiring the government to spend on subsidies to keep them down. From next month, prices will fluctuate monthly, the official Qatar News Agency (QNA) said on Tuesday.Future prices will be based on ...