21 April 2019

Resources,Power & Utilities

  • Next Digital's Apple Daily saw its subscription surge after it published a video of actress Jacqueline Wong in a compromising scene with pop singer Andy Hui, who is married to Sammi Cheng (left). Photo: CNSA/screen grab from Apple Daily video

    How Apple Daily acquired 380,000 new subscribers in one day

    - Apr 17, 2019 11:30am
    Many media experts have pooh-poohed the move by Jimmy Lai Chee-ying’s Next Digital to implement a subscription model for its flagship Apple Daily’s online edition, arguing that readers simply won’t pay for content and they are...
  • Aramco's bond sale is seen as a gauge of potential investor interest in the Saudi state oil giant's eventual initial public offering. Photo: Reuters

    Aramco to raise US$12 bln in bond sale after record demand

    Apr 10, 2019 9:24am
    Saudi Aramco is set to raise US$12 billion with its first international bond issue after receiving more than US$100 billion in orders, a record breaking vote of market confidence for the Saudi state oil giant, Reuters...
  • Dozens of senior officials and executives have been punished in China's campaign against corruption. Photo: AFP

    Jiangxi Copper ex-chairman gets 18-year jail term for corruption

    Jan 30, 2019 9:30am
    A former head of Jiangxi Copper Co. (00358.HK, 600362.CN), one of China’s top copper producers, was sentenced to 18 years in jail and handed a 2.2 million yuan (US$326,656.67) fine after being found guilty of bribery...
  • The Hyundai Oilbank deal will help Saudi state oil giant Aramco expend its footprint in a key Asian market. Photo: Reuters

    Aramco plans to buy US$1.6 bln stake in Hyundai Oilbank

    Jan 28, 2019 3:50pm
    Saudi Aramco plans to invest up to US$1.6 billion for a nearly 20 percent stake in South Korean refiner Hyundai Oilbank, Reuters reports. Under the proposed deal, the Saudi state oil giant will take up to...
  • Rusal and other firms linked to Russian oligarch Oleg Deripaska have committed to greater transparency in relation to their operations, according to the US Treasury Department. Photo: Reuters

    US lifts sanctions on Rusal, other firms linked to Deripaska

    Jan 28, 2019 9:00am
    The Trump administration on Sunday lifted sanctions on aluminum giant Rusal and other Russian firms linked to oligarch Oleg Deripaska, despite a Democratic-led push in the US Congress to maintain the restrictions, Reuters reports. Earlier this...
  • Warren Buffett’s Berkshire Hathaway has geothermal wells that could produce up to 90,000 tons of lithium a year worth US$1.5 billion at current prices, the Financial Times reported. Photo: Bloomberg

    Berkshire denies report on accord to extract lithium

    Jan 21, 2019 10:38am
    A unit of Berkshire Hathaway Inc. denied a report on Sunday that it reached an agreement to allow extraction of lithium from its geothermal wells in California, a project that could offer US carmakers and battery...
  • CNPC is said to be ready to take over Total's stake in the project, which the French company has abandoned because of US sanctions on Iran. Photo: Reuters

    Iran: China’s CNPC replacing France’s Total in gas project

    Nov 26, 2018 9:23am
    China’s state-owned China National Petroleum Corp. (CNPC) has replaced France’s Total in Iran’s multibillion-dollar South Pars gas project, Iranian Oil Minister Bijan Zanganeh said, according to the semi-official news agency ICANA on Sunday. “China’s CNPC has...
  • Oil prices continue to decline amid worries about weakening global demand and oversupply. Photo: Bloomberg

    Oil slumps 7 percent to one-year low

    Nov 14, 2018 7:46am
    Oil’s slide accelerated on Tuesday amid worries about weakening global demand and oversupply, Reuters reports. US futures closed down 7.1 percent, for a record 12th straight decline and the lowest since November 2017. More than 980,000...
  • A file picture shows an aluminum smelting facility in Zouping. US authorities have slapped anti-dumping and anti-subsidy duties on Chinese aluminum sheet products in response to complaints from American firms. Photo: Bloomberg

    US announces final anti-dumping duties on China aluminum sheet

    Nov 8, 2018 9:32am
    The United States announced on Wednesday that will impose final anti-dumping and anti-subsidy duties of 96.3 percent to 176.2 percent on Chinese common alloy aluminum sheet products.  The decision by the Commerce Department marks the first...
  • The China International Import Expo, being held in Shanghai this week, is expected to see a flurry of deals between foreign and Chinese firms. Photo: Reuters

    Zhenhua Oil seen inking deals with Iraq, Saudi at Shanghai expo

    Nov 5, 2018 9:38am
    Zhenhua Oil is set to sign a letter of intent this week with Iraq’s state oil marketer SOMO for establishment of a China joint venture, Reuters reports, citing industry sources familiar with the matter. The agreement...
  • Alphabet's third-quarter results fanned investor concern that big investments in new businesses, increasing regulatory scrutiny and emerging competition are producing slow and unpredictable returns. Photo: Bloomberg

    Alphabet shares fall on lower-than-expected revenue

    Oct 26, 2018 8:49am
    Google parent Alphabet Inc. missed analysts’ quarterly revenue estimates for the first time in at least two years and reported continuing erosion of its operating margin, sending shares down almost 7 percent after hours, Reuters reports....
  • China’s decision to limit domestic rare earth production to 45,000 tons for the second half of 2018 – the lowest in more than five years – provides only enough supply for domestic buyers. Photo: Reuters

    China cutting rare earth output, unnerving global manufacturers

    Oct 25, 2018 7:32am
    The Chinese government is limiting domestic production of rare earth minerals in the second half of the year, a move likely to crimp international exports and send prices for the critical materials soaring, Reuters reports, citing...
  • Li Hejun, once China's richest man, seeks to take his troubled Hanergy Thin Film Power Group private and relist it on the mainland stock market. Photo: Xinhua

    Hanergy, the Chinese ‘centipede’, makes a dramatic comeback

    - Oct 24, 2018 5:22pm
    In February 2015, I likened the business model of Hanergy Thin Film Power Group (00566.HK) to The Human Centipede, a Dutch horror movie. Five months later, the company was forced to suspend trading for excessive connected...
  • When oil prices rise abruptly we should be concerned because they can cause a domino effect on the real economy. Photo: Reuters

    Is the oil burden a rising problem?

    - Sep 28, 2018 3:29pm
    While markets become increasingly bullish, oil prices are close to a “warning zone” where the barrel could be one — if not the only — catalyst of a major slowdown. The concept of “Oil Burden” is...
  • “Big Oil” firms have been hit by a number of actions relating to their role in climate change. Photo: Bloomberg

    Storm warning for the fossil fuel industry

    - Sep 27, 2018 10:16am
    This has been a year of extreme weather events, from the “Beast from the East” that froze much of the United Kingdom in March to Hurricane Florence on the US East Coast and Typhoon Mangkhut in...
  • Saudi Arabia's Energy Minister Khalid al-Falih said the kingdom has spare capacity to raise output but such a move is not required at the moment and may not be needed next year. Photo: Reuters

    OPEC, Russia rebuff Trump call for immediate boost to oil output

    Sep 24, 2018 9:32am
    OPEC leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out any immediate, additional increase in crude output, effectively rebuffing US President Donald Trump’s calls for action to cool the market, Reuters...
  • Former Enron CEO Jeffrey Skilling was sentenced to a 24-year prison term in 2006 for his role in maintaining a facade of success as the company's energy business crumbled. Photo: Reuters

    Former Enron CEO released from prison to halfway house

    Aug 31, 2018 12:21pm
    Jeffrey Skilling, the former chief executive of Enron who received a 24-year prison sentence for his role in the company’s spectacular collapse, has been released from an Alabama prison camp and moved to a halfway house,...
  • Noble Group hareholders are being asked to support a debt-for-equity swap that will leave them with just 20 percent of the business. Photo: Reuters

    Noble faces crucial vote for US$3.5 billion restructuring deal

    Aug 27, 2018 10:11am
    Noble Group Ltd. faces a key shareholder meeting on Monday as the shrivelled commodity trader races to clinch a last-ditch US$3.5 billion debt restructuring deal to stay afloat and put a three-year crisis behind it, Reuters...
  • The proposed listing of state oil giant Aramco was a central part of Saudi Crown Prince Mohammed bin Salman’s reform drive. Photo: Reuters

    Aramco listing plan halted, oil giant disbands advisors: report

    Aug 23, 2018 8:52am
    Saudi Arabia has called off both the domestic and international stock listing of state oil giant Aramco, Reuters reports, citing senior industry sources. The financial advisors working on the proposed listing have been disbanded, as Saudi...
  • Heeding Xi Jinping's call to boost national energy security, Chinese oil and gas giants have pledged to boost exploration and production activities. Photo: Bloomberg

    China state firms vow to boost domestic oil, gas exploration

    Aug 9, 2018 9:16am
    China’s state-owned energy giants pledged to expand domestic oil and gas exploration and production, with a particular focus on natural gas supplies, following a call from President Xi Jinping to boost national energy security, Reuters reports....

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