Africa Mining: De Beers to allow rejection of cheap diamonds

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. Advertisements

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Global Markets: Saudi Arabia Cuts Oil Pricing To Lure New Buyers

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.

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Africa 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.

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Opinion: “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.

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Global 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…

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