Global Oil & Gas: Oil Unchanged as Market Struggles for Direction

Global Oil & Gas: Oil Unchanged as Market Struggles for Direction

Oil narrowly held onto a four-day winning streak as investors weighed a mixed supply-and-demand outlook. West Texas Intermediate settled unchanged near $78 a barrel, erasing an equities-led morning rally. The US benchmark has struggled for direction — crossing above its 200-day moving average just one week after breaching it on the way down. Prices earlier tested the 13-day moving average, another key resistance level, before retreating.  While oil demand is healthy, according to the International…

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Global Mining: Board of Vale gives CEO Schvartsman another term

Global Mining: Board of Vale gives CEO Schvartsman another term

RIO DE JANEIRO/SAO PAULO – The board of Brazilian mining company Vale SA has approved an additional two-year term for Chief Executive Fabio Schvartsman, the company said on Friday, as it seeks to extend his successful tenure as head of the world’s largest iron ore exporter.

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Mozambique Oil & Gas: Brazil shares its oil and gas experience in Maputo

Deputy Minister of Mineral Resources and Energy of Mozambique, Augusto de Sousa Fernando, said in Maputo that the best use of the investments that occur in the oil and gas sector in Mozambique is through the search for experiences from countries, such as Brazil, that operate in the sector for quite some time.

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Mozambique Coal Logistics: Exports from to increase with inauguration of the Nacala coal terminal

The inauguration on Friday of the coal terminal at the port of Nacala-a-Velha and the railway line to transport ore mined at Moatize is expected to increase exports and even make coal the main product exported by Mozambique, the Economist Intelligence Unit (EIU) reported recently.

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Global Mining: Brazil politics could keep Ferreira as Vale CEO for two more years

Vale’s (VALE +7.9%) top non-government shareholders want CEO Murilo Ferreira to stay in his job for another two years to stem pressure from Brazilian politicians to appoint an ally, Reuters reports, citing newspaper Valor Econômico.

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Global Mining: Vale says no plans to replace CEO

Vale said on wednesday, 07th June , there are no plans in the company to replace President Murilo Ferreira. As it has been noticed recently, the interim government of Michel Temer would be interested in changing the command of the Brazilian mining company due to the proximity of the executive with ousted former president Dilma Rousseff and former Finance Minister Guido Mantega. In clarifying the market, Vale said that possibility is not dealt within the company,…

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