18 October 2017

Resources,Power & Utilities

  • Saudi Aramco is reported to be evaluating a private share placement to a Chinese investor as a precursor to an international IPO. Photo: Reuters

    Saudi Aramco said to be in stake sale talks with China investor

    Oct 16, 2017 8:04am
    Saudi Aramco is mulling the sale of some stake to a Chinese investor as plans for its international public offering are pushed beyond its 2018 target, Reuters reports, citing sources familiar with the matter. A private...
  • In 2015, CEFC China Energy bought 59.97 percent of Czech club Slavia Prague. Photo: Slavia Prague

    Energy sector using soccer power to drive global industry growth

    - Sep 19, 2017 10:25am
    Rosneft is a name that many people will be unfamiliar with, yet it is increasingly occupying a position that is center stage in the global geopolitics and business of football. Who is involved in Rosneft, why...
  • PetroChina benefited from higher global oil prices in the first half. Photo:  Reuters

    PetroChina to pay shareholders entire first-half profit

    Aug 25, 2017 8:51am
    PetroChina Co. (00857.HK, 601857.CN) has decided to pay shareholders its entire half-year net income amounting to almost 12.7 billion yuan (US$1.9 billion), Bloomberg reports. While seen as a one-time payout, and small relative to international majors,...
  • Sempra Energy said the deal would add about 10 million of Oncor's Texas customers to its base and increase its earnings starting next year. Photo: Reuters

    Sempra Energy to buy Oncor for US$9.45 bln in blow to Buffett

    Aug 22, 2017 7:27am
    Utility Sempra Energy said it will buy Oncor for US$9.45 billion in cash after majority owner Energy Future Holdings Corp. abandoned a deal to sell the power transmission company to Warren Buffett’s Berkshire Hathaway Inc., Reuters...
  • PetroChina has suffered another fire accident at its key oil refinery in Dalian. Photo: Bloomberg

    Fire rocks PetroChina refinery in Dalian

    Aug 18, 2017 8:57am
    A fire broke out on Thursday at a major PetroChina refinery in Dalian, the latest industrial accident to rock the northeastern Chinese port city. The inferno in the plant’s 1.4 million-tons-per-year residue catalytic cracker started around...
  • Rosneft has said it would be open to selling CEFC a stake in its retail business, which includes almost 3,000 filling stations, around 150 oil storage complexes and over 1,000 gasoline tankers. Photo: Reuters

    China’s CEFC said to be in talks to buy stake in Rosneft

    Aug 18, 2017 8:29am
    CEFC China Energy, which has grown from a niche oil trader to a sprawling energy conglomerate, is in talks to acquire a stake in Russian state oil giant Rosneft, Reuters reports, citing three people with direct...
  • Tycoon Li Ka-shing has sealed another acquisition deal in Europe. Photo: Bloomberg

    Li Ka-shing group acquires German smart-metering firm

    Jul 28, 2017 8:50am
    A joint venture backed by Hong Kong tycoon Li Ka-shing has agreed to acquire German metering and energy management group Ista International. The price wasn’t disclosed, but sources told the Wall Street Journal that the deal...
  • Industrial activities and new home completions are key drivers of the profitability of Chinese gas distributors. Photo: China Daily

    China gas distributor prospects hinge on two things

    - Jul 13, 2017 8:58am
    Shares of natural gas distributors have gone up by about 30 percent on average in year to date. Amid this situation, there is this question: should investors continue to buy the stocks at current levels? China’s...
  • Accelerating world demand and output cuts from OPEC will push oil prices to the US$60 mark by the year-end, according to a leading energy analyst. Photo: Bloomberg

    Oil prices projected to hit US$60 before year-end

    Jul 10, 2017 9:34am
    Oil prices could reach US$60 a barrel before the end of the year due to rising global demand and reduced supply from the Organization of the Petroleum Exporting Countries, according to a report. Barron’s, citing research from...
  • Warren Buffett is betting that he can get the deal past Texas regulators after they blocked two earlier attempts to sell Oncor to other companies. Photo: Reuters

    Buffett nears deal for bankrupt energy giant

    Jul 7, 2017 8:35am
    The energy unit of Warren Buffett’s Berkshire Hathaway Inc. is nearing a deal to acquire Oncor Electric Delivery Company LLC, allowing the utility to exit a three-year bankruptcy, Reuters reports, citing people familiar with the matter....
  • Oil has slid 20 percent in the first half of 2017, a period when prices have tended to rise. It was the biggest first half slide for Brent since 1997. Photo: Reuters

    Oil drops to 10-month low amid rising US output

    Jun 22, 2017 8:36am
    Oil prices ended down more than 2 percent on Wednesday after hitting a 10-month low in volatile trade, as growing US production and reduced Chinese refinery activity fed mounting concern over the stubborn global crude glut,...
  • Power utility CLP launches a promotional campaign for an energy saving scheme that will feature "smart" electricity meters. Photo: CLP

    Electricity pricing: Smart meters, dumb arguments

    - Jun 21, 2017 4:51pm
    When restaurants charge you more at dinner than at lunch, is that a form of “price discrimination”? Not necessarily. If the restaurant serves a full house every night, but sees only a few tables filled at...
  • Oil has fallen more than 16 percent this year, despite an agreement between OPEC and other major oil producers to limit production and cut down an overhang of crude in the market. Photo: Bloomberg

    Oil falls to seven-month low on high inventories

    Jun 15, 2017 8:39am
    Oil prices tumbled to the lowest level in seven months Wednesday, as high oil inventories continued to erode confidence in the ability of major producers to ease a global supply glut, the Wall Street Journal reports....
  • Yancoal Australia may have to revise its offer for a Rio Tinto unit following a counterbid by Glencore. Photo: Bloomberg

    Yancoal gets China nod for US$2.45 bln Rio Tinto deal

    Jun 12, 2017 8:35am
    Yancoal said on Sunday that it has secured Chinese regulatory approval for the planned US$2.45 billion purchase of Rio Tinto’s Australian unit Coal & Allied Industries. The Chinese firm said it won clearance from China’s National...
  • The deal combines US firm Praxair's operational efficiency and strength in the Americas with the leading technology of Germany's Linde and its strong presence in Europe and Asia. Photo: Reuters

    Linde, Praxair in US$73 bln merger to form global gases leader

    Jun 2, 2017 8:28am
    The boards of Linde and Praxair voted on Thursday to merge, creating a US$73 billion global industrial gases leader in what is likely to be the last in a wave of combinations that has resulted in...
  • Energy ministers from OPEC hold talks with counterparts from other oil producing nations on production targets, at a gathering in Vienna on Thursday. Photo: Reuters

    OPEC extends oil output curbs but glut fears persist

    May 26, 2017 8:56am
    The Organization of the Petroleum Exporting Countries (OPEC) renewed an agreement with 10 other crude-oil producers to withhold output through March 2018, a move aimed at putting a floor under the price of oil. The pact,...
  • Noble issued a profit warning on Tuesday and reported a loss of US$129.3 million for January-March versus a profit of $40.5 million a year ago. Photo: Reuters

    Noble’s Elman stepping down as shares drop record 33%

    May 12, 2017 8:42am
    Noble Group Ltd. reported a quarterly loss that pummeled its shares by a record 33 percent, stoking worries the Singapore-listed commodity trader was failing to recover from a crisis-wracked two years despite a deep restructuring, Reuters...
  • China aims to reduce the share of power generated by coal-fired plants to below 40 percent by 2030, from the current level of over 70 percent. Photo: Reuters

    China power sector reform: The challenges ahead

    - May 11, 2017 9:53am
    A report that China will soon unveil a plan to restructure the state-run power sector led to a surge in related shares Wednesday. Beijing intends to create three energy giants through mergers of eight companies, Bloomberg...
  • Environment Minister Wong Kam-sing says the new power deal strikes a balance between reliable electricity supply, affordability and sustainability. Photo: HKEJ

    New power deal: What it does to market competition

    - May 2, 2017 4:08pm
    The Hong Kong government announced a new 15-year regulatory framework with the two power companies last week. Under the revised agreement, the amount the two suppliers are allowed to earn will be cut from 9.99 percent...
  • Chow Tai Fook is gaining control of Alinta Energy, an Australian utility with about 800,000 electricity and gas customers. Photo: Bloomberg

    Australia approves Chow Tai Fook’s takeover of Alinta Energy

    Apr 25, 2017 8:44am
    Hong Kong’s Chow Tai Fook Enterprises Ltd. has won Australian government approval for its proposed takeover of Perth-based gas-and-electricity provider Alinta Energy Ltd. The deal was approved with strict conditions, a spokeswoman for Australian Treasurer Scott...

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