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Three oil firms, Nigeria's NNPC in talks to buy stake in Dangote refinery


2 Min Read
ABUJA (Reuters) - Four oil firms including Nigeria’s state-oil company have approached Dangote Industries to acquire a stake in Africa’s largest oil refinery, a senior executive told Reuters on Friday.
FILE PHOTO: A worker walks past storage tanks at Dangote oil refinery in Ibeju Lekki district, on the outskirts of Lagos, Nigeria August 7, 2019. Picture taken August 7, 2019. REUTERS/Temilade Adelaja
Devakumar Edwin, group executive director, said the firms from Western and Middle East countries and involved in trading and crude production were looking to secure crude supply agreements, a similar objective to that pursued by the Nigerian National Petroleum Corporation (NNPC). ....

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U.S. judge rejects SEC bid to expand Rio Tinto fraud lawsuit on Mozambique coal business


By Reuters Staff
2 Min Read
(Reuters) - A U.S. judge on Wednesday quashed a bid to widen the scope of a civil lawsuit by the U.S. Securities and Exchange Commission that accused miner Rio Tinto of fraud at its Mozambican coal business, a court filing showed.
The Rio Tinto mining company s logo is photographed at their annual general meeting in Sydney, Australia, May 4, 2017. REUTERS/Jason Reed
The SEC filed a complaint against Rio in 2017 with allegations that it had fraudulently concealed the decline in value of the business.
Rio had acquired Riversdale mining for $3.7 billion in 2011, on the premise it would be able to barge 30 million tonnes of coal per year down the Zambezi river, and rail a further 12-15 million tonnes of coal per year to port. ....

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