Page 13 - Refinitiv Eikon News Today

Demand falls in country as a weaker currency makes imports increasingly unaffordable

Nigeria's fuel subsidy removal is affecting refineries far away in Europe and threatening to squeeze European refiners, Reuters is reporting. 

The removal of the petrol subsidy by President Bola Tinubu is taking a toll on European refiners, according to Reuters. Citing Refinitiv Eikon data, the news agency reported that average monthly West African (WAF) fuel imports plummeted by 56 per cent in the second quarter compared with the first. It revealed that both North America…

HOUSTON: Exxon Mobil’s second-quarter profit dropped 56% and fell short of Wall Street expectations, the company...

North America and West Africa, with Nigeria at the helm, historically have been the top two destinations for petrol exports from Europe, which produces more gasoline than it uses, meaning its refiners rely on exports to support profit margins.

Sigma Lithium is working with Bank of America to coordinate talks with parties interested in acquiring it, the chief executive of the miner, which produces the metal used to make electric vehicle batteries, told Reuters on Friday. Sigma earlier this year started production at the Grota do Cirilo hard rock lithium project in Brazil to supply roughly a fourth of its output to LG Energy Solution with the rest slated for sale on the spot market. Bank of America has been Sigma's bank on retain...

:European chipmaker STMicroelectronics on Thursday forecast higher third-quarter sales as demand from automakers helped it beat revenue forecasts in the second quarter, even as it flagged higher inventories in a sign of a weaker chip market.Chipmakers have been reporting sluggish demand, with rival Texas Inst

By America Hernandez PARIS (Reuters) - French energy company TotalEnergies does not believe it overpaid for a record-breaking German offshore seabed l...

German sportswear maker Puma on Wednesday said its second-quarter sales grew by 11%, slightly ahead of market expectations, boosted by China sales and resilient Europe. Its sales were...

HONG KONG SAR - Media OutReach - 25 July 2023 - Media OutReach Newswire, Asias first global newswire, has launched the next-generation SaaS integrated communications portal that...