Resource Market News Directory

Ukraine in Talks with Europe to Modernize and Maintain Gas Infrastructure

Gas – ITAR-TASS reported today that Kiev is in talks with European gas companies regarding a national gas consortium that would help Ukraine with its natural gas transportation system. Ukraine's parliament-appointed Minister of Energy and Coal Industry Yuriy Prodan told ITAR-TASS that he country has forwarded proposals to European gas companies, but that Kiev is not in talks with Moscow concerning the issue.

Norfolk Southern Reports Declining Coal Shipments, Posts Drop in Profits

Coal – Reuters reported today that U.S. rail shipper Norfolk Southern (NYSE:NSC) reported a drop of 18 percent in profits for the first quarter of 2014, largely due to a 15 percent fall in earnings from coal shipments. However, Norfolk Chief Executive Wick Moorman told Reuters that the company expects a rebound following this quarter.

Nigeria Stays Local With Oil Contract Awards

Oil – Reuters reported today that Nigeria has awarded oil contracts worth roughly $40 billion a year to domestic oil companies. The contracts make up the majority of Nigeria's long-term oil contracts, and the move is in line with the country's policy to increase the role of local businesses in the oil industry, according to Reuters.

China’s State Reserves Bureau Buying Bonded Copper

Copper – Reuters reported today that the State Reserves Bureau for China has bought 2000,000 tonnes of imported copper between March and April. According to its sources, Reuters said that the stockpiler plans to move the copper stocks to state warehouses by June, and will also sell off older copper to rotate stocks.