2 Min Read
ABUJA (Reuters) - Four oil firms including Nigeria’s state-oil company have approached Dangote Industries to acquire a stake in Africa’s largest oil refinery, a senior executive told Reuters on Friday.
FILE PHOTO: A worker walks past storage tanks at Dangote oil refinery in Ibeju Lekki district, on the outskirts of Lagos, Nigeria August 7, 2019. Picture taken August 7, 2019. REUTERS/Temilade Adelaja
Devakumar Edwin, group executive director, said the firms from Western and Middle East countries and involved in trading and crude production were looking to secure crude supply agreements, a similar objective to that pursued by the Nigerian National Petroleum Corporation (NNPC).
By Reuters Staff
(Adds details from earnings call)
MONTERREY, April 29 (Reuters) - Mexican cement producer Cemex reported on Thursday a more than 15-fold jump in first-quarter profit, beating analyst expectations and sending its stock price surging.
The global cement giant said the results were boosted by higher sales in the United States and in Mexico, as well as by higher cement volumes in most of its markets and higher product prices in Mexico and across Latin Americas plus the Caribbean regions.
In early morning trading, shares of the company rose 4.85% to their highest level since October 2017.
Cemex’s net income during the first three months of the year rose to $665 million in the quarter from $42 million in the same period last year.
By Reuters Staff
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April 16 (Reuters) - Sri Lankan shares snapped a nine-day winning streak to close lower on Friday, as financials heavily dragged along with a dip in the consumer staples sector. The CSE All-Share Index fell 0.57% to close at 7,600.57 points. The index is up over 12.2% for the year. Conglomerate Lanka ORIX Leasing Company Plc and investment company Browns Investments Plc were the top drags to the index, falling 2.7% and 3.1%, respectively. The Sri Lankan central bank on Thursday published manufacturing and services PMI data which indicated an expansion in business activities for both sectors in the month of March.
By Reuters Staff
1 Min Read
MADRID, April 16 (Reuters) - Spain’s cement consumption grew 53% in March from a year earlier as the construction industry recovered from a COVID-19 lockdown that saw the country grind to a halt in 2020, industry group Oficemen said on Friday.
Cement consumption rose to 1.41 million tons in March, recovering from a slump last year and moving 9.3% above the level recording in March 2019, the Oficemen data showed.
The construction industry all but halted in mid-March 2020 as Spain entered one of Europe’s strictest lockdowns to curb the spread of the coronavirus.
As building projects resumed in the summer of 2020, when the lockdown ended, Oficemen expects annual consumption in 2021 to remain stable from 2020.