Africa Mining: De Beers to allow rejection of cheap diamonds
De Beers is allowing its diamond buyers to refuse some lower-quality stones at its sale this week, according to people familiar with the situation.
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Global Markets: Saudi Arabia Cuts Oil Pricing To Lure New Buyers
Saudi Arabia is cutting the September official selling prices (OSPs) for all its grades and to all markets except for to the United States, as it aims to entice more buyers as it increases oil supply to offset production and export disruptions elsewhere.
Read MoreGlobal Markets: Industry casts doubt over future of long-term LNG supply contracts
The expected growth in the global LNG market in the coming years will mean buyers can do without long-term contracts, leading industry players said late Tuesday at the Flame conference in Amsterdam.
Read MoreAfrica Oil & Gas: BP seeking buyers for stake in Egyptian business
BP is seeking buyers for its stake in a 50-year-old oil and gas business in Egypt as it focuses on newer deepwater gas fields off the country’s Mediterranean coast, banking sources said. BP has in recent weeks pitched to potential buyers its stake in Gulf of Suez Oil Company (GUPCO), a joint venture with the Egyptian General Petroleum Corporation (EGPC) that was set up in the 1960s.
Read MoreOpinion: “Interest in LNG fires up again, but the market’s different now” – Russell
(The opinions expressed here are those of the author, a columnist for Reuters.) LAUNCESTON, Australia, Feb 22 (Reuters) – If you were looking for signs that the liquefied natural gas (LNG) merry-go-round is starting to spin a little faster, the announcement of a planned massive expansion in Papua New Guinea is ample evidence.
Read MoreGlobal Markets: Is LNG Moving From A Buyers’ To A Sellers’ Market?
The glut continues, making it a buyers’ market with a decided shift towards short-term contracts. In China, the move is particularly pronounced. Smaller, independent energy companies are rushing to build LNG terminals along the coast to take full advantage of the growing domestic demand for the fuel. Low prices don’t bother them—they are happy to tap the spot market while the getting is good. However, according to at least one industry insider, this may soon…
Read MoreGastech 2017: Global LNG market and the oversupply issue
Sellers say a supply crunch is looming. Buyers say suppliers are out of touch with the changing times.
Read MoreGlobal Oil & Gas: India could join major Asian buyers in search of flexible LNG deals
India may join Asian liquefied natural gas (LNG) importing giants in joint procurement of the fuel as part of efforts to secure more flexible contracts.
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