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Bloomberg Iraq exported more than 4 million barrels a day for a second consecutive month in September as buyers sought alternative supplies to Iran ahead of US sanctions. Shipments from Opec’s No. 2 producer were 4.062 million barrels a day, the highest since November 2016 and compared with 4.061 million a day in August, according to Bloomberg calculations from tanker …

Bloomberg In the race to solve a fuel-import crisis in Nigeria, Africa’s richest person faces competition from a swarm of tiny challengers. Billionaire Aliko Dangote is building a 650,000 barrel-a-day refinery in Nigeria that will help cut the nation’s $7 billion annual fuel-import bill. Such is the pressure on its finances, the government is pursuing another option, giving licenses to …

Bloomberg South Africa’s Eskom Holdings SOC Ltd. is still running low on fuel at more than half of its power stations and expects to finish supply contracts in October that will replenish the stockpiles. There are 10 of Eskom’s 15 baseload stations throughout the country that have less than three weeks of coal, Khulu Phasiwe, a spokesman for the utility, …

Bloomberg YPF SA, Argentina’s state-run energy producer, is closing the tap on some of its natural gas wells as the nation’s second recession in three years curbs demand, according to people with direct knowledge of the matter. The company had been investing heavily in shale gas as the government subsidized production to reverse a costly energy trade deficit. But the …

Bloomberg The US and Canada have agreed on a trade deal that would save the North American Free Trade Agreement as a trilateral bloc, according to three people familiar with the matter. US and Canadian negotiators worked around the clock to secure an agreement, allowing leaders from those nations and Mexico to sign the accord by late November. The 24-year-old …

Bloomberg The International Monetary Fund (IMF) is poised to cut its forecast for global growth as Managing Director Christine Lagarde warns trade wars and tighter credit are darkening the outlook. Three months since predicting the world economy would grow 3.9 percent this year and next, Lagarde signaled in Washington that she is no longer quite so optimistic. The fund will …

Bloomberg Royal Dutch Shell Plc and its four partners have agreed to invest in a multibillion-dollar liquefied natural gas project in western Canada — the largest new one of its kind in years that would carve out the fastest route to Asia for North American gas. LNG Canada — comprised of Shell, Malaysia’s Petroliam Nasional Bhd, Mitsubishi Corp., PetroChina Co. …

Bloomberg Oil extended gains in London after the longest quarterly rally in a decade as a slowdown in American drilling added to concern that supply losses around the world will lead to a tight market. Brent crude rose as much as 0.7 percent, after front-month futures climbed for a fifth straight quarter. As concerns over a global crunch due to …

Bloomberg Bahrain’s credit risk declined to the lowest level in five months on optimism the nation’s neighbours will soon come to the island-state’s rescue with an aid package. The cost of insuring Bahrain’s debt against default fell 34 basis points last week on relief that Saudi Arabia, the United Arab Emirates and Kuwait were said to be considering a $10 …

Dubai / WAM Total volumes on the Dubai Gold and Commodities Exchange (DGCX), this year hit 17,255,556 contracts at the end of September, with yearly average daily volumes (ADV), at their highest ever, reaching 89,873 contracts per day. The best performing asset class in September was the Indian Rupee (INR), product suite, which saw Rupee Mini Futures record its second …