Just in:  

You are here: Home»Markets»Energy»Middle East & Africa

Middle East & Africa


Ethiopia cancels diesel import tender for March-August SINGAPORE: Ethiopia has cancelled an import tender for up to 120,000 tonnes of diesel fuel for delivery over March to August, and may have bought it through private negotiations instead, traders said on Thursday.Ethiopian Petroleum Supply Enterprise (EPSE) was seeking 80,000 to 120,000 tonnes of 500 ppm sulphur gasoil for delivery into Djibouti.PetroChina had placed the lowest out of three offers at a $5.75 a barrel premium above Middle East quotes for the diesel cargo with a credit period of 150 days.EPSE has likely negotiated the mini-term contract with current term supplier Vitol at similar premiums to its existing contract, a Singapore-based trader said. But this could not be confirmed with either EPSE or Vitol.EPSE has an ongoing term contract with Vitol to buy 1 million tonnes of gasoil for 2015 at about $4 a barrel above Middle East quotes, traders said.Copyright Reuters, 2015 ...

Kenya's state-run firm to raise $2bn to buy into oil blocks NAIROBI: Kenya's state-run National Oil Corporation will raise $2 billion to take stakes in oil blocks on behalf of the government once they near commercial production, it said on Wednesday.Kenya estimates its crude oil reserves to be about 1 billion barrels and the government can legally take a stake in oil blocks under commercial production through National Oil.The oil firm would raise the money through internal sources, external debt and other equity partners, Joram Temesi, ...
Cameroon hikes 2015 debt issuance to $1.56bn amid fall in oil revenues DAKAR: Cameroon has hiked its debt issuance for 2015 to 900 billion CFA francs ($1.56 billion) from 320 billion initially planned, a decree signed by President Paul Biya said, amid a shortfall in oil revenues due to the slump in global oil prices.The decree signed on Friday authorised the government to "issue debt including Treasury bills and bonds of up to 900 billion CFA francs to finance development projects."It did not give any further details, ...
Kenya, Tanzania seek consultant for cross-border power lines NAIROBI: Kenya and Tanzania have invited bids for a consultant to oversee the construction of a high-voltage power line connecting the two nations, part of efforts to meet growing demand for electricity and deepen integration of their economies.The two countries will build approximately 510 km of 400 kilovolt (kv) power lines and several substations to allow them trade in power.The project is planned to be implemented in twenty-three months from the contract commencement date, a ...
West Africa Crude: Improving refining margins support market LONDON: West African crude differentials were steady on Friday, holding on to gains this week, supported by increased demand in Europe and Asia amid improving refining margins. While traders say there is still an ample supply of March-loading Nigerian crude, differentials have ticked up further this week from multi-year lows. Healthy refining margins in Europe, which are well above the annual average according to Reuters models, and in Asia have helped to boost demand, say ...
Egypt's energy reforms spark rush of oil and gas deals Egypt's energy reforms spark rush of oil and gas dealsMILAN/CAIRO: Energy-hungry Egypt's willingness to push fuel market reforms and stick to debt repayment plans has led to an unexpected resurgence in oil and gas exploration and supply deals previously delayed by political upheaval. The country has emerged as a major new oil and gas market as the government looks to ease the worst energy crunch in decades. In January alone Egypt clinched 15 ...
Nigeria's oil company says cleared over missing $20bn ABUJA: Nigeria's state oil company said on Thursday that a forensic audit conducted by PriceWaterhouseCoopers has cleared it of the allegation that it failed to remit $20 billion owed to the state. President Goodluck Jonathan ordered an audit of the national energy company in early 2014 after former central bank governor Lamido Sanusi said an estimated $20 billion in oil revenues had been withheld from the Federation Account. NNPC added that the audit said $1.48 ...


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

Wholesale Camping Equipment from China at 

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Ad Asia 2015

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln