Emma's Feed
Jan 30, 2013

Iran crude oil exports rise to highest since EU sanctions

* December oil exports increase to 1.4 mln bpd-sources

* Buyers find ways to cope with shipping restrictions

* January exports set to dip ahead of U.S. sanctions

* Fuel oil sales, condensates seen lower

By Emma Farge, Humeyra Pamuk and Alex Lawler

GENEVA/DUBAI, Jan 30(Reuters) – Iran’s crude oil exports in
December leapt to their highest level since European Union
sanctions took effect last July, analysts and shipping sources
said, as strong Chinese demand and tanker fleet expansion helped
the OPEC member dodge sanctions.

Exports rose to around 1.4 million barrels per day (bpd) in
December, according to two industry sources and shipping and
customs data compiled by Reuters on a country-by-country basis
and corroborated by other sources and consultants.

Jan 29, 2013

Brothers sentenced in Switzerland over Moroccan drug ring

GENEVA, Jan 29 (Reuters) – Two brothers who worked for
financial firms were sentenced to prison on Tuesday for
laundering money through Swiss bank accounts for a Moroccan drug
smuggling ring, Geneva authorities said.

The two men were part of a family network thought to be run
by Swiss and French citizens of Moroccan origin selling cannabis
from North Africa to France and Spain, said the Geneva judicial
authority.

Jan 24, 2013

Nigeria says raised food production by 8 mln T in 2012

GENEVA, Jan 24 (Reuters) – Nigeria is beating its target to
raise food production, lifting output by 8 million tonnes last
year, in efforts to diversify Africa’s second-largest economy
away from a reliance on oil, the agriculture minister said.

President Goodluck Jonathan laid out ambitious targets to
raise food production such as rice and cocoa by 20 million
tonnes within four years after his 2011 election victory.

Jan 22, 2013

Nigeria to keep troops in Mali until crisis resolved

GENEVA (Reuters) – Nigerian President Goodluck Jonathan said on Tuesday his country’s troops would stay in Mali to back military operations against al Qaeda-linked rebels until the crisis was resolved.

Nigeria plans to deploy up to 1,200 troops as part of a West African intervention force to support French and Malian troops battling Islamist militants in the Sahara desert.

Jan 22, 2013

Nigerian oil bill delay hurting investment -President

GENEVA, Jan 22 (Reuters) – Nigerian President Goodluck
Jonathan said investment in the country’s oil industry was
falling because of delays to its landmark energy bill.

The Petroleum Industry Bill (PIB) – designed to cover
everything from tax terms to reform of the state oil company and
funds for communities living on oil fields – was presented to
the parliament in August and is still being discussed.

Jan 22, 2013

Canadian crude reaches Europe as US shale oil booms

GENEVA/LONDON, Jan 22 (Reuters) – The United States now gets
so much crude from its own shale deposits that Canadian
exporters are selling as far afield as Europe, showing how
deeply the U.S. energy revolution is transforming global oil
flows.

As recently as 2011, close to 100 percent of Canada’s crude
exports went to its neighbour the United States, according to
the U.S. government’s Energy Information Administration (EIA).

Jan 21, 2013

Security fears overshadow new Algerian oil law after siege

GENEVA (Reuters) – Investment in Algeria’s oil and gas sector may fall as concerns about the costs of security after a bloody siege at a desert gas plant eclipse the impact of a hydrocarbon law designed to win over foreign firms, executives and analysts said on Monday.

Algeria’s parliament acted quickly on Monday to endorse an oil and gas law, cancelling a windfall tax on foreign firms, in a move seen as a bid to reassure foreign investors and reverse declining interest in the OPEC member.

Jan 19, 2013

U.N. clinches global deal on cutting mercury emissions

GENEVA, Jan 19 (Reuters) – More than 140 countries have
agreed on the first global treaty to cut mercury pollution
through a blacklist of household items and new controls on power
plants and small-scale mines, the United Nations said on
Saturday.

The legally-binding agreement aims to phase out many
products that use the toxic liquid metal such as batteries,
thermometers and some fluorescent lamps, through banning global
import and exports by 2020.

Jan 18, 2013

Swiss advocate voluntary rules for secretive commodities firms

BERNE, Jan 18 (Reuters) – Swiss officials said commodities
companies should voluntarily police themselves, rather than face
legally binding rules, as the government ponders its first set
of national transparency measures for the $20 billion sector.

Switzerland has come under pressure by other western
countries to close regulatory gaps, but many fear that strict
rules could harm the traditionally secretive business that now
accounts for nearly 4 percent of Swiss gross domestic product.

Jan 17, 2013

SGS cuts dividend after restructuring charge

ZURICH/GENEVA, Jan 17 (Reuters) – Swiss testing and
inspection services company SGS cut its dividend on
Thursday after booking a charge for restructuring its European
operations, saying it needed cash to continue making
acquisitions.

SGS, whose activities range from testing toys to vetting
seven-star hotels, said that most of the 47 million Swiss franc
($51 million) charge was related to the planned closure of its
clinical trial activities in France.