United States

Libby George

Nigeria unlikely to change forex policy, information minister says

Apr 18 2019

LONDON, April 18 Nigeria's current policy of multiple exchange rates for its currency, the naira, is working well, and the central bank is unlikely to change it anytime soon, the government's information minister said.

Billionaire's huge Nigerian oil refinery likely delayed until 2022: sources

Aug 10 2018

LONDON A huge oil refinery being built in Nigeria by Africa's richest man is unlikely to start production until 2022, two years later than the target date, sources with direct knowledge of the matter said.

Don't neglect to pay the middleman: How Shell and Eni ended up on trial

May 20 2018

LONDON Seven years ago, two middlemen launched civil lawsuits to seek payment for helping arrange a $1.3 billion oil deal in Nigeria.

New rules on ship emissions herald sea change for oil market

May 17 2018

LONDON New rules coming into force from 2020 to curb pollution produced by the world's ships are worrying everyone from OPEC oil producers to bunker fuel sellers and shipping companies.

Investors see big oil surge, but physical markets suggest caution

May 15 2018

NEW YORK/LONDON/SINGAPORE Oil futures prices have soared past three-year highs, OPEC's deal has cut millions of barrels of inventory worldwide and investors are betting in record numbers that prices could rocket past $80 and even hit $90 a barrel this year.

Vivo Energy, Vitol's Africa venture, floats with 2 billion pound valuation

May 04 2018

LONDON Vivo Energy PLC launched on the London Stock Exchange on Friday with a valuation of nearly 2 billion pounds ($2.7 billion), the largest London IPO so far this year and the largest Africa-focused IPO in more than a decade.

Trump's revenge: U.S. oil floods Europe, hurting OPEC and Russia

Apr 24 2018

MOSCOW/LONDON As OPEC's efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits - and flooding Europe with a record amount of crude.

Sulphur scrubbers 'no silver bullet' for shipping industry - Wartsila

Apr 20 2018

LONDON Shipping industry hopes that so-called sulphur scrubbers are a quick-fix solution to compliance with drastic emissions reduction demanded by 2020 are somewhat misguided, one of the world's biggest manufacturers of the equipment told Reuters.

Nigeria plans power tariff overhaul by 2021 to attract investment

Apr 19 2018

LONDON, April 19 Nigeria plans to overhaul its energy tariff system by 2021 to try to attract investment and improve power supply, the vice chairman of the country's electricity regulator said.

Trade tensions could boost pace of China's strategic crude storage

Apr 13 2018

LONDON China will likely increase the pace of its strategic oil purchases by nearly 30 percent this year compared with 2017, the International Energy Agency said on Friday, and its eagerness to build stocks could get a boost from trade tensions with the United States.

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