2025-04-16 09:20
KAMPALA, April 16 (Reuters) - The Ugandan shilling was flat on Wednesday, drawing some support from low demand as most firms used their local currency holdings to clear their mid-month tax obligations, traders said. At 0901 GMT, commercial banks quoted the shilling at 3,662/3,672, the same level as Tuesday's close. Sign up here. https://www.reuters.com/markets/currencies/ugandan-shilling-stable-tax-payments-lend-support-2025-04-16/
2025-04-16 08:30
JOHANNESBURG, April 16 (Reuters) - South African assets firmed on Wednesday as uncertainty around U.S. tariffs lifted gold prices to record highs and depressed the dollar. At 1504 GMT, the rand traded at 18.8150 against the U.S. dollar , about 1% stronger than its previous close. Sign up here. The dollar last traded about 0.6% weaker against a basket of currencies. Gold extended its record run on Wednesday as investors bought the safe-haven asset to guard against escalating U.S.-China trade tensions. South Africa is a major producer of the precious metal. On the Johannesburg Stock Exchange, the blue-chip Top-40 index (.JTOPI) , opens new tab closed up about 0.3% after hitting an all-time high earlier in the session. Domestic investors remain focused on developments in the country's budget impasse, with the two biggest parties in South Africa's government of national unity (GNU) at odds over a proposed value-added tax hike on May 1. "The ZAR's near-term recovery has largely played out, but it could extend to any more positive news from the GNU regarding a budget most parties can support," said ETM Analytics in a research note. South Africa's benchmark 2030 government bond strengthened, with the yield down 4 basis points to 9.18%. https://www.reuters.com/markets/currencies/south-african-rand-gains-dollar-slumps-tariff-uncertainty-2025-04-16/
2025-04-16 08:15
FRANKFURT, April 16 (Reuters) - The euro zone's current account surplus narrowed in February as a higher services surplus was not big enough to offset a rise in goods imports, European Central Bank data showed on Wednesday. The currency bloc's seasonally adjusted balance of payments surplus narrowed to 34.3 billion euros in February from 40.3 billion a month earlier, while the unadjusted figure showed an increase to 33.1 billion euros from 18.0 billion euros. Sign up here. In the 12 months to February, the surplus equalled 2.7% of the bloc's GDP, up from 2.0% in the preceding 12 months. https://www.reuters.com/markets/europe/euro-zone-current-account-surplus-narrowed-february-2025-04-16/
2025-04-16 07:49
JAKARTA, April 16 (Reuters) - Indonesia awarded five oil and gas blocks to companies, its energy ministry said on Wednesday, as it attempts to replenish its oil and gas reserves and improve its energy security. Over the coming years, the government plans to offer nearly 60 oil and gas blocks to try to reverse a decade-long decline in output. Sign up here. "The government hopes these auction winners will be able to contribute to Indonesia's energy security ahead," Tri Winarno, senior official at the Energy and Mineral Resources Ministry said in an online broadcast on Wednesday's awards. Indonesia awarded both the Gaea and Gaea II blocks in West Papua to a consortium comprising eight companies, including Enquest Petroleum Production Malaysia Ltd, BP Exploration Indonesia Ltd, CNOOC Southeast Asia Ltd. Gaea has estimated resources of 9.6 billion barrels of oil or 71.8 trillion cubic feet of gas, while Gaea II has estimated resources of 8.5 billion barrels of oil or 35.1 tcf of gas, Tri said. The government also awarded the Binaiya block in offshore Maluku, which has 6.7 billion barrels of oil and 15 tcf of gas potential, to state explorer PT Pertamina Hulu Energy, and Malaysia's Petronas unit PC North Mandura II Ltd and Korea's SK Earthon Co Ltd. PC North Madura II Ltd and SK Earthon, together with Japan's INPEX Corporation, were also awarded the Sepang block offshore East Java. The Kojo block in Makassar Strait was awarded to Armada Etan Ltd. Once a significant oil producer and a member of the Organization of the Petroleum Exporting Countries, Indonesia has grown increasingly reliant on imported energy. It has offered to increase energy imports from the United States as part of negotiations on tariffs. https://www.reuters.com/business/energy/indonesia-awards-five-oil-gas-blocks-seeks-energy-security-2025-04-16/
2025-04-16 07:17
April 16 (Reuters) - Malaysian oil and gas giant Petroliam Nasional IPO-PETO.KL said on Wednesday it has secured additional gas supplies to minimize supply disruptions caused by the huge fire at the Putra Heights pipeline earlier this month. PETRONAS Energy & Gas Trading (PEGT) has procured an extra 155 million standard cubic feet per day (MMSCFD) of gas, boosting the total supply volume to 400 MMSCFD via the Trans Thailand-Malaysia (TTM) gas pipeline system, the company said. Sign up here. This increased supply -- directed towards the northern region of Peninsular Malaysia, including Bestari Jaya, Meru and Kapar -- has helped stabilize supply, Petronas said. It said that it has also added an extra 86 MMSCFD supply to the Serdang City Gate for the Interconnected Klang Valley distribution network, a joint effort with Gas Malaysia Berhad (GASM.KL) , opens new tab to expand gas distribution network supply capacity. The fire earlier this month at the Petronas-operated pipeline affected at least 305 people, including those left homeless after some 190 homes were damaged, authorities said. It also led to interrupted gas supply in several areas, impacting four power plants initially, of which the Kapar and Serdang plants are now operating normally following the additional supply, Petronas said. It said it currently expects the restoration of the Putra Heights pipeline by July 1 at the earliest. https://www.reuters.com/business/energy/malaysias-petronas-secures-extra-gas-supply-after-hit-putra-heights-pipeline-2025-04-16/
2025-04-16 07:14
MOSCOW, April 16 (Reuters) - The Organization of the Petroleum Exporting Countries (OPEC) has received updated oil output compensation plans from eight countries that have exceeded voluntary production quotas within the OPEC+ group, it said on Wednesday. The countries are Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman. Sign up here. https://www.reuters.com/business/energy/opec-receives-oil-output-compensation-plans-eight-countries-2025-04-16/
