10 December 2018

Resources,Power & Utilities

  • 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....
  • The latest closures at SolarCity raise new questions about the viability of cash-strapped Tesla’s solar business. Photo: Bloomberg

    Tesla to close solar facilities in US nine states: Reuters

    Jun 22, 2018 8:45am
    Electric car maker Tesla Inc.’s move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial US$2.6 billion deal, Reuters reports, citing...
  • Coal is used to generate almost 40 percent of electricity worldwide. Photo: Reuters

    Big investors urge G7 to step up climate action, shift from coal

    Jun 4, 2018 8:20am
    Institutional investors with US$26 trillion in assets under management called on Group of Seven leaders to phase out the use of coal in power generation to help limit climate change, despite strong opposition from Washington, Reuters...
  • The EU is said to have made a formal request to join the WTO consultations in relation to the US-China steel tariffs row. Photo: Bloomberg

    EU seeks to join US-China steel dispute at WTO

    Apr 24, 2018 9:36am
    The European Union asked on Monday to join a dispute brought by China to the World Trade Organization (WTO) over US import tariffs on steel and aluminum, Reuters reports. The Trump administration had set duties of...
  • A component failure in a limited number of MacBook Pros has caused the built-in battery to expand. Photo: Bloomberg

    Apple offers battery replacement for some MacBooks

    Apr 23, 2018 9:20am
    A component failure in a limited number of MacBook Pros has caused the built-in battery to expand, Apple Inc. said. It has offer worldwide free replacement for such batteries worldwide, Reuters reported. The flaw, reported in some...
  • Apple's 50-megawatt solar farm, east of the firm’s data center in Mesa, Arizona is pictured in this undated handout photo obtained by Reuters on Monday. Credit: Apple/Reuters

    Apple says all its facilities now powered fully by clean energy

    Apr 10, 2018 9:09am
    Apple said on Monday that it has achieved its goal of powering all of its global facilities, including data centers, offices and retail stores, with 100 percent renewable energy. The US tech giant also said nine suppliers...
  • Hong Kong tycoon Li Ka-shing waves goodbye after announcing his retirement at a news conference on Friday. Photo: Reuters

    Li Ka-shing announces retirement, will stay on as senior adviser

    Mar 16, 2018 6:03pm
    Li Ka-shing, Hong Kong’s richest man, on Friday announced that he will step down as chairman of his business empire later this year but stay on as a senior adviser. He will be succeeded by his eldest...

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