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May 15, 2014

Exclusive: Egypt’s Sisi asks for U.S. help in fighting terrorism

CAIRO (Reuters) – Abdel Fattah al-Sisi, the general who ousted an elected Islamist president and is set to become Egypt’s next head of state, called on the United States to help fight jihadi terrorism to avoid the creation of new Afghanistans in the Middle East.

In his first interview with an international news organization in the run-up to the May 26-27 vote, Sisi called for the resumption of U.S. military aid, worth $1.3 billion a year, which was partially frozen after a crackdown on the Muslim Brotherhood.

Feb 12, 2014

Switzerland can’t have it both ways on migration: EU’s Barroso

BRUSSELS (Reuters) – Switzerland stands to lose more than the EU from a vote to restrict immigration because it cannot enjoy all the benefits of the world’s biggest market without reciprocal access, European Commission President Jose Manuel Barroso said.

In an interview for a Reuters Euro Zone Summit, Barroso said the narrow Swiss referendum vote to restore quotas for migrants in breach of an agreement with the EU, would have “serious consequences” for relations between the wealthy Alpine nation and the 28-member union that surrounds it.

Apr 22, 2013

Government blocks Shell paying Iran oil debt in food, medicine

LONDON (Reuters) – Britain has blocked efforts by oil major Royal Dutch Shell (RDSa.L: Quote, Profile, Research) to settle a $2.3 billion (1.5 billion pounds) debt it owes Iran by paying in kind with grains or pharmaceuticals, industry sources said.

Shell has been trying for months to find a way to work around international sanctions that prevent it paying in currency for crude it bought from the National Iranian Oil Company before a European Union embargo on Iran that started last July.

Apr 22, 2013

UK blocks Shell paying Iran oil debt in food, medicine

LONDON, April 22 (Reuters) – Britain has blocked efforts by
oil major Royal Dutch Shell to settle a $2.3 billion
debt it owes Iran by paying in kind with grains or
pharmaceuticals, industry sources said.

Shell has been trying for months to find a way to work
around international sanctions that prevent it paying in
currency for crude it bought from the National Iranian Oil
Company before a European Union embargo on Iran that started
last July.

Oct 26, 2012

Exclusive: Shell seeks Iran sanctions workaround via Cargill grain barter

LONDON (Reuters) – Oil major Royal Dutch/Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) is seeking to work around international sanctions by repaying a $1.4 billion oil debt to Iran with a grain barter deal via U.S. agribusiness giant Cargill CARG.UL, industry sources said.

Shell wants to repay a debt that is growing larger because of unpaid interest, having failed to settle its accounts with the National Iranian Oil Company (NIOC) ahead of a European Union embargo on oil imports that started on July 1.

Oct 4, 2012

Morgan Stanley commodities talks with Qatar hit snag

DUBAI/LONDON (Reuters) – Morgan Stanley’s (MS.N: Quote, Profile, Research, Stock Buzz) talks with Qatar’s sovereign wealth fund over the sale of its commodities business have run into difficulty, and the deal may need to be reworked if it is to go ahead, banking sources said.

One of the top banks in commodity trading over the past 30 years, Morgan Stanley has been in discussion for more than a year with Qatar over the sale of at least a majority stake in the energy-focused trading business, the bankers said.

Jun 25, 2012

Saudi Arabia keeps oil tap on for world growth, Russia hurts

LONDON, June 25 (Reuters) – Saudi Arabia is showing no sign
of changing its policy of high oil output to support global
economic growth, despite a fall in crude prices below $90 a
barrel for the first time in 18 months.

Gulf and Western government sources in contact with Saudi
officials said the OPEC power can tolerate oil at $90 or below
for months, price levels that hurt Iran and Russia as they face
off against Riyadh over the conflict in Syria.

Apr 5, 2012

Oil price agency Platts too powerful, regulator told

LONDON, April 5 (Reuters) – Oil price assessment service
Platts, which is owned by McGraw-Hill, has too much
power in physical oil markets, a well-known industry consultant
told a global financial regulatory group.

The International Organisation of Securities Commissions
(IOSCO) is considering increasing oversight of oil price
reporting agencies (PRAs), whose prices are used to settle
billions of dollars of deals in physical oil, the world’s
biggest traded commodity.

Mar 30, 2012

West wants Saudi not to neutralise oil release

LONDON (Reuters) – Oil consuming nations may seek reassurance from Saudi Arabia that it will not cut oil production and neutralise the impact on oil prices if consumer countries release emergency reserves, diplomats and industry sources said.

The issue may be raised by a U.S. delegation, led by U.S. Secretary of State Hillary Clinton, which is in Riyadh this weekend to discuss Syria with Gulf states. Clinton will see Saudi King Abdullah and Foreign Minister Saud al-Faisal.

Mar 29, 2012

Exclusive: West wants Saudi not to neutralize oil release

LONDON (Reuters) – Oil consuming nations may seek reassurance from Saudi Arabia that it will not cut oil production and neutralize the impact on oil prices if consumer countries release emergency reserves, diplomats and industry sources said.

The issue may be raised by a U.S. delegation, led by U.S. Secretary of State Hillary Clinton, which is in Riyadh this weekend to discuss Syria with Gulf states. Clinton will see Saudi King Abdullah and Foreign Minister Saud al-Faisal.