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Factbox: Libya's oil industry caught in middle of power struggle

A blockade on oil ports and fields in Libya is shutting down production from the OPEC member, potentially taking more than one million barrels per day (bpd) of oil off the market.

Louis Dreyfus plans fish farming, bio-energy in Chinese venture

Agricultural commodity merchant Louis Dreyfus Company (LDC) said on Friday it will develop aquaculture and plant-based energy production as part of an industrial joint venture in China.

Trump increases tariffs on derivative steel, aluminum products from some countries

U.S. President Donald Trump on Friday signed a proclamation increasing tariffs on derivative steel products by an additional 25 percent and boosting duties on derivative aluminum products by an additional 10 percent.

Brent logs worst weekly loss in a year as China virus fears swell

Crude prices sank more than 2% on Friday and Brent logged its biggest weekly decline in more than a year as concerns that a coronavirus will spread farther in China, the world's second-largest oil consumer, curbing travel and oil demand.

Latest News

Rescuer opens home to baby flying foxes orphaned by Australian bushfires

(This story corrects Davies' designation in para 5 to coordinator from founder, and adds dropped word in para 11)

Lukashenko asks to meet Putin with Russian oil supplies to Belarus set to dry up

Belarusian President Alexander Lukashenko on Friday proposed a meeting with his Russian counterpart Vladimir Putin to resolve a row over oil supplies, Belarus' state news agency Belta said, with Moscow's exports to Minsk set to dry up next month.

RWE CEO signals he might step down next year: Spiegel

Rolf Martin Schmitz, the chief executive of German utility RWE, might step down from his post following a far-reaching restructuring that has turned the group into Europe's third-largest renewables provider, he told a German magazine.

IMF aid to Congo Republic on hold over Glencore, Trafigura impasse

Talks to salvage a tentative $1.7 billion debt restructuring between Congo Republic and energy traders Glencore and Trafigura [TRAFGF.UL] are stuck, sources said, jeopardising an International Monetary Fund bailout for the debt-hobbled nation.

Chile's Codelco seeks approvals to explore for lithium at Maricunga

Chile state miner Codelco filed with regulators on Friday a plan to begin exploration for lithium in its Maricunga salt flat holdings, a key step in advancing development of the country's second richest deposit of the metal needed for batteries.

Valero restarts gasoline unit at McKee refinery in Sunray, Texas: sources

Valero Energy Corp completed restarting the gasoline-producing unit at its 195,000-barrel-per-day (bpd) McKee refinery in Sunray, Texas, on Thursday night, sources familiar with plant operations said on Friday.

Exclusive: Indonesia to increase imports from India amid New Delhi-Malaysia spat - sources

Indonesia has agreed to immediately increase imports of Indian buffalo meat, sugar and auto parts after India boosted purchases of Indonesian palm oil amid a spat with rival supplier Malaysia, two Indian government sources with direct knowledge of the matter told Reuters...

Lyondell Houston refinery restarts large crude unit: sources

Lyondell Basell Industries restarted the large crude distillation unit (CDU) at its 263,776 barrel-per-day (bpd) Houston refinery on Thursday night, sources familiar with plant operations said on Friday.

Urals crude oil loadings from Russia's Baltic ports up 14% in first half of February - plan

Russia plans to increase Urals crude oil loadings from its Baltic ports to 3.2 million tonnes in the first half of February from 2.8 million tonnes during January 1-15, the preliminary loading plan released on Friday showed.

Priced for perfection, oil slides on fears coronavirus will hit demand: Kemp

China's outbreak of novel coronavirus has sent oil prices sharply lower as traders reassess whether the country will be able to generate the strong economic growth needed to rebalance the market in 2020.

Exclusive: India's rice exports fall sharply as sanctions delay payments from Iran

Reluctance among Indian traders to ship premium basmati rice to Iran as U.S. sanctions hobble its ability to pay has contributed to a sharp drop in overall exports from the world's biggest supplier of the grain, trade and government sources said.

A growing problem: Nigerian rice farmers fall short after borders close

Thomas Tyavwva Maji is planting rice on more of his land in Nigeria's Benue State than ever to take advantage of a surge in prices since the country shut its land borders in August.

Belarus touts U.S. as possible alternative to Russian oil: Belta

Belarus is looking for alternatives to Russian oil and is in talks with the United States, Saudi Arabia and the United Arab Emirates about supplies, President Alexander Lukashenko said on Friday, the Belta news agency reported.

German local utilities say threatened by hard coal exit plan

German local utilities group VKU said on Friday the government's draft plans to phase out hard coal fired power stations in the coming years as part of its climate efforts were a threat to its members' income.

Barrick Gold's 'long safari' ends with Tanzania deal

Canada's Barrick Gold Corp <ABX.TO> signed a deal with Tanzania on Friday in which the government will take stakes in three gold mines, ending a long-running tax dispute and setting a template for negotiations with other firms.

Saudi Arabia says all options open at OPEC+ meeting, including further cuts

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud said all options are open at an OPEC+ meeting in early March, including further cuts in oil production, Al Arabiya television reported.

China's Jingye, British Steel unions agree to up to 500 job cuts

UK trade unions have reached a deal with China's Jingye Group <600768.SS> about its provisional deal to buy British Steel, acknowledging that up to 500 jobs will go in exchange for protecting pay and employment terms.

China's Jingye says aims to complete British Steel takeover in Q1

China's Jingye Group <600768.SS> aims to complete its planned takeover of British Steel before the end of March as it makes progress in securing approvals for the deal, it said on Friday.

OPEC considering keeping oil cuts until year-end, discussions at early stage: TASS

OPEC is discussing extending its oil cuts until the end of the year as the market still looks bearish, but the discussions are still at an early stage, Russia's TASS news agency cited an OPEC source as saying on Friday.

French electricity generation curbed by pensions strike

Strikes over planned pensions reform had reduced French electricity generation by 5.1 gigawatts (GW) or around 6.4% of available generation capacity by 0850 GMT on Friday, data from grid operator RTE and utility EDF <EDF.PA> showed.

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