2025-04-02 09:53
KAMPALA, April 2 (Reuters) - The Ugandan shilling firmed slightly on Wednesday on the back of slowing dollar demand from merchandise importers and commercial banks, traders said. At 0937 GMT, commercial banks quoted the shilling at 3,642/3,652, compared with Tuesday's closing rate of 3,650/3,660. Sign up here. https://www.reuters.com/markets/currencies/ugandan-shilling-firms-slowing-importer-dollar-demand-helps-2025-04-02/
2025-04-02 07:52
Renewables output grows 17% helped by capacity growth Expects annual adjusted earnings of 155-160 pence per share April 2 (Reuters) - British power generator and network operator SSE (SSE.L) , opens new tab on Wednesday trimmed its guidance for annual adjusted earnings per share, but maintained its long-term profit expectations as it pushes ahead with its renewable energy goals. It said it now expects earnings to be in a range of 155 pence to 160 pence for the 2025 fiscal year, against previous guidance of 154 pence to 163 pence. Sign up here. SSE is poised to profit from Britain's goal to decarbonise its electricity sector by 2030 with rapid expansion in renewable energy generation, such as wind and solar, and major investments in grid connections. The company said it plans to invest around 3 billion pounds ($3.87 billion) in the current year, under its Net Zero Acceleration Programme (NZAP) Plus plan. In fiscal year 2024, SSE said its renewables output grew 9.8% from the previous year. SSE expects renewables output to have grown 17% in the year ended March 31 boosted by an increase in capacity. That is despite of cold spells and stormy weather in Britain that have disrupted its distribution network in recent months. SSE, which last week promoted its chief commercial officer to the chief executive role, reaffirmed its adjusted earnings target of 175 pence to 200 pence per share for the fiscal year ending March 31, 2027. ($1 = 0.7748 pounds) https://www.reuters.com/business/energy/sse-trims-annual-earnings-outlook-expects-renewables-growth-uk-2025-04-02/
2025-04-02 07:47
NAIROBI, April 2 (Reuters) - The Kenyan shilling was stable on Wednesday with importer demand for dollars matched by supply, traders said. At 0728 GMT, commercial banks quoted the shilling at 129.00/129.50 per dollar, the same as Tuesday's closing level. Sign up here. https://www.reuters.com/markets/currencies/kenyan-shilling-steady-importer-demand-matches-dollar-supply-2025-04-02/
2025-04-02 07:20
ABUJA, April 2 (Reuters) - Nigerian President Bola Ahmed Tinubu has appointed Bayo Ojulari, a former Shell executive, to head the state-owned oil firm NNPC Ltd as the country seeks to raise oil production and revitalise its refining capacity, the presidency said on Wednesday. Ojulari replaces Mele Kyari, with the appointment effective immediately, presidential spokesman Bayo Onanuga said in a statement. Sign up here. Ojulari was most recently chief operating officer at Nigeria consortium Renaissance Africa Energy Co., which now owns Shell's former onshore subsidiary in the country. Prior to that, he was head of Shell Nigeria's exploration unit. Tinubu also replaced the board of NNPC, appointing a new 11-member team to drive reforms and boost efficiency in the oil sector. https://www.reuters.com/business/energy/nigeria-names-ex-shell-executive-lead-state-oil-firm-nnpc-2025-04-02/
2025-04-02 07:17
Transneft says loading berth 8 at Novorossiisk is suspended Russia closed two of three berths at CPC terminal Trump has threatened to impose new tariffs on Russian oil Kremlin blames Ukraine for attacks on CPC infrastructure MOSCOW, April 2 (Reuters) - Russia, the world's second-largest oil exporter, on Wednesday imposed restrictions on another major oil export route, suspending a mooring at the Black Sea port of Novorossiisk only a day after restricting loadings from a key Caspian pipeline. Russia produces about 9 million barrels of oil a day, or just under a 10th of global production. Its ports also ship oil from neighbouring Kazakhstan. Sign up here. The restrictions were imposed as U.S. President Donald Trump has said he is unhappy with Russia and the rate of progress in peace talks with Ukraine, and threatened to impose secondary tariffs on buyers of Russian oil. Russia's oil pipeline monopoly Transneft (TRNF_p.MM) , opens new tab said it had suspended a mooring at Novorossiisk for 90 days after a snap inspection by a transport watchdog. The Novorossiisk Commercial Sea Port (NCSP) is one of Russia's largest export outlets and the closure of one mooring is unlikely to affect its operations significantly. "A temporary ban on operations has been imposed on oil loading berth 8. NCSP has been ordered to eliminate all identified violations by June 30, 2025," Transneft said. Industry sources said that Berth 8 at the Sheskharis terminal handles low-sulphur diesel tankers with a deadweight of around 7,000 metric tons, mainly carrying exports to Turkey and Georgia. An industry source also said that the berth is used to deal with small-scale vessels of up to 10,000 tons of oil products. LSEG and industry sources' data showed that the berth handled around 100,000 tons of diesel in January-March. Two of three moorings at a nearby terminal of the Caspian Pipeline Consortium, in which U.S. oil majors Chevron (CVX.N) , opens new tab and Exxon Mobil (XOM.N) , opens new tab hold stakes, were closed on Monday following the regulator's checks. Kremlin spokesman Dmitry Peskov told reporters on a conference call that the restrictions on CPC are related to Ukrainian drone attacks on the infrastructure. Ukraine accused Russia of launching new attacks against its energy facilities. Ukrainian President Volodymyr Zelenskiy said a Russian drone hit an energy substation in Sumy region and artillery fire damaged a power line in Dnipropetrovsk, cutting off electricity to nearly 4,000 consumers. Oil exports via the CPC pipeline have been set at 1.7 million barrels per day, or around 6.5 million metric tons, for April. CPC buyers have said they are waiting for the revised loading programme. Both Kazakhstan and Chevron said on Tuesday that the flows via the pipeline were not interrupted. https://www.reuters.com/business/energy/russias-transneft-suspends-one-oil-loading-berth-novorossiisk-90-days-2025-04-02/
2025-04-02 07:15
April 2 (Reuters) - Indian metals-to-oil conglomerate Vedanta (VDAN.NS) , opens new tab is looking for a global company to partner with on expansion projects worth $20 billion across zinc, aluminium, copper, iron, steel, oil, gas and power, as per a tender document. The billionaire Anil Agarwal-led conglomerate -- set to split into four entities, Vedanta Aluminium, Oil and Gas, Power, Iron and Steel -- had earmarked the funds to invest in metals and mining and hydrocarbons in the next three years. Sign up here. Vedanta did not give specifics for the current tender, which was issued last week. Its current plans include a $2 billion to $2.5 billion investment to expand subsidiary Hindustan Zinc's (HZNC.NS) , opens new tab production. Another unit, Cairn India, has a $5 billion plan to grow its oil output by five-fold, while Vedanta's power business is aiming to double its 5-gigawatt (GW) portfolio and expand into nuclear and power distribution. Vedanta said in February it was looking for partners to build and operate 5 GW of nuclear power for captive use in India. https://www.reuters.com/markets/commodities/indian-conglomerate-vedanta-seeks-global-partner-20-billion-expansion-plan-2025-04-02/
