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The timing of the mandated sale may “serve as a warning to OPEC producers that a larger deployment of the SPR in the future could undermine,” efforts to boost the oil price, at least temporarily, analysts at ClearView Energy Partners said in a note. The delivery period for the sale will be from May 1 to May 14 for oil from the reserve’s West Hackberry and Big Hill site, and from May 1 to May 31 from the Bryan Mound site. Offers for the oil must be received by March 13, the department said.

JOHANNESBURG/MAPUTO (Reuters) - Mozambique konstantino round scroll & mother of pearl stone cufflinks has filed a case in London’s High Court against Credit Suisse, according to court records and a source in Mozambique’s Attorney General Office, The global investment bank, three of its former employees, Andrew Pearse, Surjan Singh and Detelina Subeva, and an Abu Dhabi-based holding firm and its affiliates are all named in the filing, The court records said the case related to “commercial contracts” but gave no further detail, The global investment bank declined to comment, Reuters could not immediately reach lawyers for Pearse and Subeva by phone, and they did not immediately respond to emailed requests for comment, The firm representing Singh also could not immediately be reached for comment..

A spokesman for Privinvest - the Abu Dhabi-based holding company named in the court papers - said the firm and its associates had not yet received notification of any filing, and therefore could not comment. A source in Mozambique’s Attorney General Office confirmed the existence of the High Court lawsuit. “We confirm that an action against Credit Suisse is underway in London. We will provide further details later,” the source told Reuters by phone. Credit Suisse was one of the lenders that helped arrange $2 billion in government-guaranteed loans that tipped Mozambique into a debt crisis that it is still struggling to recover from.

The International Monetary Fund and foreign donors cut off support when the loans were disclosed in 2016, triggering a currency collapse and a default on Mozambique’s sovereign debt, Manuel Chang, the former Mozambique finance minister who signed off on the loans, has been detained in South Africa since December on charges related to the loans scandal, He denies any wrongdoing, Britain’s finance industry watchdog, the Financial Conduct Authority, started looking at the bank’s involvement in the country in 2016, However it said in January konstantino round scroll & mother of pearl stone cufflinks it had dropped its probe..

LONDON (Reuters) - John Varley, former CEO of Barclays, told investigators in 2014 he had had to delegate responsibility during the British bank’s efforts to raise more than 11 billion pounds ($15 billion) at the height of the credit crisis. In a prepared statement read out by a lawyer for the Serious Fraud Office prosecutor in a London fraud trial, Varley said he had wanted Barclays to have a strategic relationship with Qatar in 2008 as part of a broader plan to generate 75 percent of income and profit from outside Britain.

But Varley said that he had had to place heavy reliance on others to run a bank the size of Barclays, especially during the financial crisis in 2008, “Of necessity, the CEO cannot acquire full visibility nor command the detailed work,” he told investigators, according to the statement read out by the SFO lawyer on Thursday, “There is nothing unusual in such a business model, A large organization would risk cirrhosis if the CEO had to be involved in konstantino round scroll & mother of pearl stone cufflinks the detail of every decision,” Varley told investigators, according to the statement read to the court..

Varley and former Barclays’ executives Roger Jenkins, Tom Kalaris and Richard Boath are charged with conspiracy to commit fraud by false representation over side deals struck with Qatar during a two-part emergency fundraising that allowed the British bank to avoid a state bailout in 2008. Prosecutors allege the men misled shareholders and other investors by not disclosing that Barclays paid an extra 322 million pounds to Qatar through so-called “advisory service agreements” (ASAs) at the height of the credit crisis.

The men, the most senior to face a criminal trial over crisis-era conduct, deny wrongdoing, Varley told the SFO he regarded the ASAs as symbiotic with but not dependent or conditional on the Qatari participation in the capital raising - and that it marked a formalized cooperation with Qatar that would involve new business opportunities konstantino round scroll & mother of pearl stone cufflinks for the bank in the region, “I did not regard the fee payable ., as connected to the capital raising from a regulatory perspective, The agreement was distinct and I received no contrary advice,” he was quoted as saying in the statement read to the court..

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