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☆ Chevron opted to buy vs build US LNG processing - gas executive
▼ + stars: | 2023-07-14 | by ( Curtis Williams | ) www.reuters.com time to read: +2 min

July 14 (Reuters) - Chevron Corp (CVX.N) is comfortable with buying U.S. liquefied natural gas (LNG) on long-term contracts rather than constructing its own U.S. domestic export facility, said Freeman Shaheen, the company's head of global gas. The second largest U.S. oil and gas producer in June 2022 signed agreements with LNG developers Cheniere Energy (LNG.A) and Venture Global LNG for a combined 4 million tonnes per annum (MTPA) of the super-chilled natural gases. The Cheniere and Venture Global LNG deals will provide an outlet for natural gas flowing from its Permian Basin shale holdings in West Texas and New Mexico. It opted not to build an export terminal in the U.S., where several major plants are already under construction. Top LNG traders Shell (SHEL.L) and BP (BP.L) separately filed for arbitration against Venture Global LNG for failing to supply contracted cargoes, even as it sold to non-contract customers as prices soared last year.

Persons: Freeman Shaheen, Shaheen, Curtis Williams, Josie Kao Organizations: Chevron Corp, Cheniere Energy, Venture Global LNG, Chevron, Venture Global, Reuters, Top, Shell, BP, Thomson Locations: U.S, Angola, Australia, Israel, West Texas, New Mexico, Argentina, West Africa, Calcasieu, Houston

☆ Millions Danced Joyfully to Her Song. She Drew on Her Pain to Write It.
▼ + stars: | 2023-07-07 | by ( Lynsey Chutel | More About Lynsey Chutel | ) www.nytimes.com time to read: +1 min

She didn’t listen to the recording of the song until a day after it was made. As the bass began to reverberate through her car, everything went dark, she said, and she almost lost control of the vehicle. As lockdowns were enforced just weeks later, the song was shared around the world. The global success of “Jerusalema” has taken Ms. Zikode on tour to Europe, the Caribbean and the United States. It also led to her being featured on the song “Bayethe,” which would win the Grammy award for Best Global Music Performance earlier this year.

Persons: ”, “, ‘, prognostication, lockdowns, Zikode Organizations: Best Locations: Angola, Europe, Caribbean, United States

Tyler’s practice began after he started volunteering at Angola’s hospice program. In addition to gifting quilts to the families of late patients, volunteers would sell them at the prison’s rodeo for funding. “Doing my work made me realize that I have something to offer, that my greatest asset is myself,” Tyler says of revisiting quilting after his release. Also on display is a vitrine of those sourced photographs alongside memorabilia that was circulated in the fight for Tyler’s freedom. “We Are the Willing” will be on view from July 8 through Sept. 6, lscgallery.com.

Persons: Gary Tyler, Rosa Parks, Tyler’s, Tyler, “, ” Tyler, I’ve, ”, Gary, Allison Glenn Organizations: Library Street Locations: Angola, Louisiana, Detroit, Rosa

☆ Analysis: Caught between riots and debt crises, African countries cut fuel subsidies
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +6 min

Senegal, like Nigeria and Angola, is removing costly fossil fuel subsidies – a move once considered politically unthinkable but which has become a necessity due to crushing debt, a spike in borrowing costs and high fuel prices. SHEER FISCAL NECESSITYNearly every country on earth has some fossil fuel subsidies, according to the Organisation for Economic Co-operation and Development (OECD). Now, high costs have effectively locked many out of international bond markets. According to the World Bank, almost half of the countries in sub-Saharan Africa are in or at high risk of debt distress. The World Bank estimates that subsidy removal, and scrapping foreign exchange controls, would save Nigeria some 21 trillion naira ($27.49 billion) from 2023 to 2025.

Persons: Abdoulaye Diallo, Diallo, Stanley Achonu, Goolam Ballim, Angola's, David Amaglobeli, Amaglobeli, Gregoire Garsous, Achonu, Karin Strohecker, Ngouda Dione, Hugh Lawson Organizations: ONE, LONDON, CFA, Global, International Energy Agency, Reuters Graphics, Organisation for Economic Co, Development, Standard Bank, World Bank, OECD, Bank, Christian, Thomson Locations: Africa, Nigeria, Senegal's, Dakar, Senegal, Angola, Ukraine, Russia, Johannesburg, China, Saharan Africa, Zambia, London, Brazzaville

☆ Chinese navy makes rare foray into West Africa with Nigeria visit
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 3 (Reuters) - A naval fleet of China's People's Liberation Army (PLA) led by the destroyer Nanning arrived in Nigeria on Sunday, in a rare visit by the Chinese military to Africa's Atlantic coast, where Beijing has long made efforts to grow its influence. The Chinese ambassador to Nigeria hailed the five-day visit as a milestone in ties, while the Nigerian navy expressed willingness to work with China to tackle maritime security threats and maintain stability in the Gulf of Guinea, the Chinese embassy said in a statement on Monday. Oil-rich West Africa is an important global exporter of crude. The region, mostly Angola and Nigeria, is among China's top oil suppliers. Major Chinese oil explorer CNOOC Ltd also engages in deep-sea production off the coast of Nigeria.

Persons: Nanning, CNOOC, Ryan Woo, Clarence Fernandez Organizations: Liberation Army, PLA, Thomson Locations: BEIJING, Nigeria, Beijing, Nigerian, China, Gulf, Guinea, Africa, Angola, Sao Tome and Principe, Taiwan, Djibouti

BEIJING, June 29 (Reuters) - The value of Chinese debt relief decreased by over 50% between 2021 and 2022, a report from Rhodium Group showed, with Angola alone receiving two thirds of deferrals despite China backing multilateral efforts to standardise support for poor countries. As the world's largest bilateral creditor, China is central to talks on making tangible progress in providing debt relief to emerging and frontier markets through the Group of 20-led "Common Framework" as well as the World Bank and International Monetary Fund (IMF). And although debtor countries did secure a large volume of deferrals in 2021 - the year the World Bank's Debt Service Suspension Initiative (DSSI) morphed into the G20's Common Framework - that fails to explain fully the sharp drop in the value of Chinese debt relief since. China's most visible action on debt relief was writing off zero-interest loans, the report added, while warning that fewer such loans will be available for China to write off in the coming years. Reporting by Joe Cash; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Cash, Chizu Organizations: World Bank, International Monetary Fund, IMF, Thomson Locations: BEIJING, Angola, deferrals, China, Pakistan, Kenya, Republic of Congo, Zambia, Chad, Ethiopia, Ghana

☆ Angola fuel hike protesters clash with police
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: +1 min

LUANDA, June 17 (Reuters) - Angolan police fired tear gas in the capital Luanda and other cities Benguela and Namibe as thousands of protesters took to the streets a week after clashes over a recent fuel hike killed at least five people. President Joao Lourenco on June 8 fired the economic coordination minister and replaced him with the central bank governor in the wake of the deadly protests. Local media at the time quoted Angolan Economic Coordination Minister Manuel Nunes Junior, who was subsequently fired, saying the aim was to rein in government spending. On Saturday in Benguela, a large crowd of protesters holding cardboard placards were shown on social and local media as anti-riot police with batons and helmets patrolled the streets. In Luanda, police shot teargas to control the crowd, with TV footage showing at least one burning barricade spewing smoke.

Persons: Joao Lourenco, Africa’s, Manuel Nunes Junior, teargas, Miguel Gomes, Wendell Roelf, Andrew Cawthorne Organizations: Angolan, Angolan Economic, Police, Thomson Locations: LUANDA, Luanda, Benguela, Namibe, Nigeria, Angolan

☆ China's efforts to catch up in global electronic spying race
▼ + stars: | 2023-06-14 | by ( Greg Torode | ) www.reuters.com time to read: +5 min

Aside from monitoring capabilities, a large, permanent presence on Cuba "is an important symbol, getting right under the noses of the U.S. and reflecting China's global ambitions", he said. In 2019, Reuters reported that China's military was running a space monitoring station in Argentina. Regional diplomats say that as China builds a global military intelligence network, it lacks a U.S.-style system of alliances and partnerships that can help discreet surveillance efforts. China's defence ministry declined to comment. "This trend is only going to grow alongside China's global reach," said Singapore-based defence analyst Alexander Neill.

Persons: Diego Garcia, Carl Thayer, China's, Antony Blinken, Alexander Neill, Greg Torode, Kirsty Needham, Laurie Chen, Gerry Doyle Organizations: People's Liberation Army, Australian Defence Force Academy of, Australian National University, PLA, Reuters, Defence, South China, International Institute for Strategic Studies, China, Support Force, Pentagon, Thomson Locations: HONG KONG, China, Cuba, Beijing, United States, U.S, Britain, Canada, Australia, New Zealand, Taiwan, Guam, British, CUBA, Coast, Florida, Russia, Moscow, Argentina, CHINA, Hainan, South, Southeast Asia, London, Namibia, Pakistan, Kenya, Myanmar, Sri Lanka, Tanzania, Angola, China's, Singapore, Sydney

He announced the output cut after the meeting, calling it a "Saudi lollipop". Saudi Arabia said it would cut output in July by 10% or 1 million barrels per day (bpd) to 9 million bpd and may extend cuts further if needed. As well as the Saudi cut, OPEC+ lowered its collective production target for 2024 and the nine participating countries extended the April voluntary cuts to the end of 2024. Nonetheless, all those producers stand to benefit if they can keep output the same or pump a bit more, especially if the Saudi cut boosts prices. "Saudi cuts are playing second fiddle to worries about the state of the global economy," said Stephen Brennock of oil broker PVM, although he added the Saudi cut could widen a supply deficit in July.

Persons: Prince Abdulaziz bin Salman, Prince Abdulaziz, Abu, Al Arabiya, Brent, Stephen Brennock, Rowena Edwards, Maha El, Simon Webb, David Evans Organizations: Saudi, Saudi Energy, Organization of, Petroleum, United Arab Emirates, Saudi Energy Ministry, OPEC's, Thomson Locations: Riyadh, Saudi, Saudi Arabia, Vienna, OPEC, Russia, Abu Dhabi, OPEC's Vienna, UAE, Nigeria, Angola, Friday's

☆ Oil prices tick down with OPEC meeting in rear view
▼ + stars: | 2023-06-06 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

Brent crude futures were down 23 cents, or 0.3%, at $76.48 a barrel at 0020 GMT. The voluntary cut, Saudi Arabia's biggest in years, is on top of a broader deal by the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia to limit supply into 2024 as OPEC+ seeks to boost flagging oil prices. The OPEC+ pumps around 40% of the world's crude. Market participants are now waiting to see if the U.S. Federal Reserve will hike or hold interest rates in June for more trading cues. Traders pegged the chances of the Fed pausing its interest rate hikes at its June 13-14 meeting at 78%, according to the CME FedWatch Tool.

Persons: Brent, Christine Lagarde, Arathy Somasekhar, Himani Sarkar Organizations: Brent, U.S . West Texas, Saudi Arabia's, Organization of, Petroleum, U.S . Federal, Traders, Central Bank, ECB, Thomson Locations: Saudi Arabia, U.S, Russia, OPEC, Vienna, Nigeria, Angola, Houston

☆ Oil rises on Saudi plan to deepen output cuts from July
▼ + stars: | 2023-06-05 | by ( Noah Browning | ) www.reuters.com time to read: +3 min

[1/2] General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Both contracts extended gains of more than 2% on Friday after the Saudi energy ministry said the kingdom's output would drop to 9 million bpd in July from about 10 million bpd in May. Consultancy Rystad Energy said the additional Saudi cut is likely to deepen the market deficit to more than 3 million bpd in July, which could push prices higher in the coming weeks. "The immediate market impact of this Saudi cut is likely lower, as drawing inventories takes time, and the market likely already put some meaningful probability on a cut today," the bank's analysts added. In contrast, the United Arab Emirates (UAE) was allowed to raise output targets by 200,000 bpd to 3.22 million bpd to reflect its larger production capacity.

Persons: Ahmed Jadallah, Brent, WTI, keener, Suvro Sarkar, Bjarne Schieldrop, Goldman Sachs, Noah Browning, Florence Tan, Emily Chow, David Goodman Organizations: REUTERS, Saudi, Brent, . West Texas, Saudi Arabia's, Organization of, Petroleum, DBS Bank, OPEC, Rystad Energy, United Arab Emirates, Thomson Locations: Saudi, Saudi Arabia, OPEC, Arabia, Russia, Nigeria, Angola, UAE

☆ Oil jumps 2% on Saudi plan to deepen output cuts from July
▼ + stars: | 2023-06-05 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

U.S. West Texas Intermediate crude climbed $1.41, or 2%, to $73.15 a barrel, after touching an intraday high of $75.06 a barrel. The group, known as OPEC+, pumps around 40% of the world's crude and has in place cuts of 3.66 million bpd, amounting to 3.6% of global demand. "The oil market now looks like it will be even tighter in the second half of the year." Consultancy Rystad Energy said the additional cut by Saudi is likely to deepen the market deficit to more than 3 million bpd in July, which could push prices higher in the coming weeks. By contrast, the United Arab Emirates was allowed to raise output targets by around 200,000 bpd to 3.22 million bpd.

Persons: Baker Hughes, Goldman Sachs, Brent, Florence Tan, Diane Craft, Sonali Paul Organizations: Saudi, Brent, . West Texas, Organization of, Petroleum, ANZ, Rystad Energy, United Arab, Thomson Locations: SINGAPORE, Saudi Arabia, Saudi, Russia, OPEC, Nigeria, Angola, United Arab Emirates, UAE, United States

☆ Analysis: Saudi Arabia's 'icing on the cake' oil cut could feed US producers
▼ + stars: | 2023-06-05 | by ( Dmitry Zhdannikov | ) www.reuters.com time to read: +5 min

With the new Saudi reduction, the group has agreed to take some 4.6 million bpd off the market in July, equivalent to 4.6% of global demand of 100 million bpd. OPEC+ also agreed on Sunday to extend the group's existing supply cuts of 3.66 million bpd into 2024. In response, oil prices rose nearly $2 a barrel early on Monday to $78 per barrel . "This market needs stabilisation," Saudi Energy Minister Prince Abdulaziz bin Salman said on Sunday, calling his surprise decision to deepen Saudi production cuts "the icing on the cake" for the deal. So far this year, a weakening global economy, concern about the U.S. banking crisis, and a slow Chinese recovery from COVID-19 restrictions have capped oil prices.

Persons: Prince Abdulaziz bin Salman, Prince Abdulaziz, Natasha Kaneva, Morgan, Tamas Varga, Jorge Leon, Sunday's, JPM, Kaneva, Alex Lawler, Ahmad Ghaddar, el, Dmitry Zhdannikov, Simon Webb, Barbara Lewis Organizations: Saudi Energy, OPEC, White, International Energy Agency, Rystad Energy, United, Thomson Locations: Saudi, Saudi Arabia, OPEC, U.S, Russia, Ukraine, Riyadh, United States, States, COVID, Angola, Nigeria, United Arab Emirates

☆ Oil prices jump more than $2 per barrel after Saudi pledges to cut more output
▼ + stars: | 2023-06-04 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

Brent crude futures was at $78.42 a barrel, up $2.29, or 3%, at 2219 GMT after earlier hitting a session-high of $78.73 a barrel. U.S. West Texas Intermediate crude climbed $2.27 a barrel, up 3.2%, or $74.01 a barrel, after touching an intraday high of $75.06 a barrel. Saudi Arabia's output would drop to 9 million barrels per day (bpd) in July from around 10 million bpd in May, the biggest reduction in years, its energy ministry said in a statement. The group, known as OPEC+, pumps around 40% of the world's crude and has in place cuts of 3.66 million bpd, amounting to 3.6% of global demand. By contrast, the United Arab Emirates was allowed to raise output targets by around 0.2 million bpd to 3.22 million bpd.

Persons: Florence Tan, Diane Craft Organizations: Saudi, Brent, . West Texas, Organization of, Petroleum, ANZ, United Arab, Thomson Locations: SINGAPORE, Saudi Arabia, Saudi, Russia, OPEC, Nigeria, Angola, United Arab Emirates, UAE

Saudi's energy ministry said the country's output would drop to 9 million barrels per day (bpd) in July from around 10 million bpd in May, the biggest reduction in years. "This is a Saudi lollipop," Saudi Energy Minister Prince Abdulaziz told a news conference. EXTENSION TO END OF 2024OPEC+ has in place cuts of 3.66 million bpd, amounting to 3.6% of global demand, including 2 million bpd agreed last year and voluntary cuts of 1.66 million bpd agreed in April. In addition to extending the existing OPEC+ cuts of 3.66 million bpd, the group also agreed on Sunday to reduce overall production targets from January 2024 by a further 1.4 million bpd versus current targets to a combined of 40.46 million bpd. By contrast, the United Arab Emirates was allowed to raise output targets by around 0.2 million bpd to 3.22 million bpd.

Persons: Prince Abdulaziz, Brent, Amrita Sen, Gary Ross, Giovanni Staunovo, Ahmad Ghaddar, Alex Lawler, Maha El Dahan, Julia Payne, Dmitry Zhdannikov, David Holmes, Barbara Lewis Organizations: Saudi, UAE, Saudi Energy, Organization of, Petroleum, Brent, OPEC, Analysts, Energy, Veteran OPEC, Black Gold, UBS, United Arab, Thomson Locations: Russian, Angolan, VIENNA, Saudi Arabia, OPEC, Saudi, Russia, Ukraine, Nigeria, Angola, United Arab Emirates

MOSCOW, June 4 (Reuters) - Russian is fulfilling its oil output cut obligations, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 TV channel on Sunday following a meeting of the OPEC+ group of leading oil producers. He said that total production cuts, which OPEC+ has undertaken since October 2022, reached 3.66 million bpd to ensure stability on the global oil market. Separately, Novak's office said that Russia will tweak its crude oil production level to 9.828 million bpd from Jan.1, and taking into account earlier announced additional voluntary reduction of 500,000 bpd, its output target will stand at around 9.3 million bpd. "That's the indicator (interest rate decisions), which is having an impact on investments, on demand for oil and oil products," he said. He said the data from secondary sources related to the OPEC+ voluntary cuts starting from May will emerge in the middle of this month.

Persons: Alexander Novak, Rossiya, Novak, Vladimir Soldatkin, Angus MacSwan Organizations: Organization of, Petroleum, U.S . Federal, Thomson Locations: MOSCOW, OPEC, Russia, Nigeria, Angola

Four sources familiar with OPEC+ discussions have told Reuters that additional production cuts were being discussed among options for Sunday's session. Three out of four sources said cuts could amount to 1 million bpd on top of existing cuts of 2 million bpd and voluntary cuts of 1.6 million bpd, announced in a surprise move in April and which took effect in May. If approved, the new cut would take the total volume of reductions to 4.66 million bpd, or around 4.5% of global demand. Typically, production cuts take effect the month after they are agreed but ministers could also agree a later implementation. Three OPEC+ sources also said the group will address the issue of baselines for 2023 and 2024, from which each member performs cuts.

Persons: Prince Abdulaziz, Sunday's, Ahmad Ghaddar, Alex Lawler, Maha El Dahan, Julia Payne, Dmitry Zhdannikov, Hugh Lawson, Emelia Organizations: OPEC, Organization of, Petroleum, Reuters, Brent, Saudi Arabia's Energy, Thomson Locations: VIENNA, Nigeria, Angola, OPEC, Russia, West, UAE, Ukraine, China, India

Three OPEC+ sources told Reuters on Friday that cuts were being discussed among options for Sunday's session. The three sources said cuts could amount to 1 million bpd on top of existing cuts of 2 million bpd and voluntary cuts of 1.6 million bpd, announced in a surprise move in April and which took effect in May. If approved, this would take the total volume of reductions to 4.66 million bpd, or around 4.5% of global demand. Typically production cuts take effect the month after they are agreed, but ministers could also agree a later implementation. Two OPEC sources said the ministers could also discuss new production baselines from which each member performs cuts.

Persons: Leonhard, Hayan Abdel, Ghani, Suhail Al Mazroui, Prince Abdulaziz, Ahmad Ghaddar, Alex Lawler, Maha El Dahan, Julia Payne, Dmitry Zhdannikov, David Holmes, Frances Kerry, Christina Fincher Organizations: Austrian, REUTERS, OPEC, Organization of, Petroleum, Reuters, UAE's Energy, Brent, Saudi Arabia's Energy, International Energy Agency, JPMorgan, Thomson Locations: Vienna, Austria, Saudi, OPEC, VIENNA, Russia, Ukraine, China, India, West, Nigeria, Angola, UAE

☆ Ukraine’s cross-border tactics are aimed at destabilizing Russia. Judging by the response, they’re working
▼ + stars: | 2023-06-02 | by ( Sam Kiley | ) edition.cnn.com time to read: +8 min

The operations of Russian citizens, carrying Ukrainian military ID, wearing Ukrainian uniforms and attacking from Ukraine, remain officially opaque. Back then, “Little Green Men” in peculiar two-tone sport-hunting uniforms – and Russian military fatigues – appeared in Crimea. The Russian Volunteer Corps and the Freedom for Russia Legion – which fall under Ukraine’s Defence Intelligence structure – have been conducting short cross-border raids into Russia. Russia rattledIn Ukraine, it suits Kyiv to have Russians invade Russia on its behalf. Previous days with all the shelling - there was almost no response, no (Russian) military.

Persons: coy, what’s, “, fatigues –, Vladimir Putin, Moscow, Sergey Bobok, for Russia Legion –, –, Putin, it’s, ”, ” Putin, Prigozhin, Wagner, “ Wagner, Yulia Morozova, you’ve, ” Dmitry Medvedev, Medvedev, Vyacheslav Gladkov, Shebekino Organizations: CNN, Fighters, Russian Volunteer Corps, of Russia Legion, Getty, for Russia Legion, Ukraine’s Defence Intelligence, Frontline, Kremlin, Russian, Russian Federation, “ Wagner PMC, Russia, Kyiv, Reuters, Russian Telegram Locations: Ukraine, Russia, Crimea, Simferopol, Soviet, AFP, South, Angola, Zambia, Zimbabwe, Mozambique, Pretoria, destabilization, Belgorod –, Moscow, Kursk, Smelensk, Russian, St Petersburg, Soviet Union, Belgorod, Shebekino, “

LONDON/DUBAI, June 1 (Reuters) - OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance told Reuters. It brought total output cuts to 3.66 million bpd, or about 4% of global consumption. In March 2020, it abandoned production quotas altogether, launching a Saudi-Russian price war at the onset of the COVID-19 pandemic that sent oil prices 25% lower. It quickly re-established quotas with its biggest output cut to date of about 10 million bpd, agreed in April, 2020. OPEC has said it expects oil demand growth to reach 2.33 million bpd this year as non-OPEC supplies grow by 1.4 million bpd.

Persons: Brent, Prince Abdulaziz bin Salman, Alexander Novak, Goldman Sachs, Ahmad Ghaddar, Alex Lawler, Rowena Edwards, Maha El, Simon Webb, Barbara Lewis Organizations: LONDON, OPEC, Reuters, Organization of, Petroleum, West, Brent, Saudi Energy, Saudi, HSBC, Thomson Locations: DUBAI, Russia, West African, Nigeria, Angola, Kurdistan Region, Iraq, Vienna, Russian, China, 2H23, OPEC, London, Maha El Dahan, Dubai, Moscow

☆ Nigeria to commission Dangote refinery, crude supply a concern
▼ + stars: | 2023-05-22 | by ( Macdonald Dzirutwe | ) www.reuters.com time to read: +3 min

Despite being Africa's biggest oil producer, Nigeria imports petrol, diesel and processed petroleum products because its refineries were run down over the years. The refinery needs a constant supply of crude but Nigeria's oil production has been declining due to oil theft, vandalism of pipelines and underinvestment. Lower production would affect state-owned oil company NNPC Ltd's ability to fulfil an agreement to supply Dangote refinery with 300,000 bpd of crude, said economist Kelvin Emmanuel, who authored a report on oil theft last year. "There are risks with supply of crude oil feedstock. Energy Aspects, however, said in the long run, the Dangote refinery could end Nigeria's gasoline deficit, reshape the Atlantic basin gasoline market and export diesel that meets European Union specifications.

☆ Moscow's 'special' forces: An inside look at how Russia's famed Spetsnaz really operate
▼ + stars: | 2023-04-30 | by ( Mark Galeotti | ) www.businessinsider.com time to read: +24 min

Russia's Spetsnaz forces are often depicted as a kind of Russian super troops. Osprey PublishingMost countries' special forces emphasize physical fitness, determination and aggression. Special people, for special tasksMembers of the Russian military's 16th Separate Special Purpose Brigade during an exercise in 2018. Even so, being better than most of the Soviet army's miserable and recalcitrant conscript forces did not make most of them truly special, special forces. The special operations commandMembers of Russian's 22nd Separate Guards Special Purpose Brigade during an exercise in November 2017.

☆ Spain start World Cup defence against Brazil and Iran, U.S. draw Greece
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: +1 min

April 29 (Reuters) - Defending champions Spain will face Brazil in the group stage of the 2023 FIBA World Cup while five-times winners United States will take on Greece, after the draw was held in Manila on Saturday. Spain, who are the top-ranked side in the world and seeking a third title, will also face Iran and Ivory Coast in Group G.The United States, ranked second in the world, were also drawn to face Jordan and New Zealand. As well as winning the tournament five times the U.S. are 12-times podium finishers -- both World Cup records -- but were eliminated in the quarter-finals in 2019 when they were chasing a third straight title. Argentina, were finalists in 2019 and ranked fourth in the world, failed to qualify for the World Cup for the first time in 41 years. FIBA WORLD CUP DRAWGROUP A (MANILA)AngolaDominican RepublicPhilippinesItalyGROUP B (MANILA)South SudanSerbiaChinaPuerto RicoGROUP C (MANILA)United StatesJordanGreeceNew ZealandGROUP D (MANILA)EgyptMexicoMontenegroLithuaniaGROUP E (OKINAWA)GermanyFinlandAustraliaJapanGROUP F (OKINAWA)SloveniaCape VerdeGeorgiaVenezuelaGROUP G (JAKARTA)IranSpainIvory CoastBrazilGROUP H (JAKARTA)CanadaLatviaLebanonFranceReporting by Rohith Nair in Bengaluru; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Frank’s International Pays $8 Million to Settle Angola Bribery Violations
▼ + stars: | 2023-04-26 | by ( Dylan Tokar | ) www.wsj.com time to read: 1 min

The business Frank’s International was targeting were contracts to provide Angola’s state-owned oil-and-gas company with tubular services and technology used for drilling offshore deep water wells. Photo: fred tanneau/Agence France-Presse/Getty ImagesFrank’s International NV, a Dutch oil services firm, has agreed to pay $8 million to resolve an investigation into alleged bribery violations by the company’s operations in Angola, U.S. regulators said Wednesday. The company, now part of Houston-based Expro Group Holdings NV, paid commissions to a sales agent who employees in the region knew was likely to use the funds to bribe Angolan government officials, according to the U.S. Securities and Exchange Commission.

From the 15th to the 19th century, 6 million Africans were kidnapped and forcibly transported across the Atlantic by Portuguese vessels and sold into slavery, primarily to Brazil. But so far Portugal has rarely commented on its past and little is taught about its role in slavery in schools. Reparations and public policies to fight inequalities caused by Portugal's past were essential, Cardoso said. "We continue to suffer in Brazil the effects of a legacy of slavery," Almeida said in a statement. Europe's top human rights group previously said Portugal had do more to confront its colonial past and role in the transatlantic slave trade in order to help fight racism and discrimination today.

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