17 March 2018

Resources,Power & Utilities

  • 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...
  • The United States already has 29 duties in place against Chinese steel products, and China’s steel exports to the US fell to just 1 percent of its total steel exports last year. Photo: Bloomberg

    World steel markets unfazed by US tariff move

    Mar 9, 2018 8:05am
    The imposition of a 25 percent US tariffs on steel imports has raised fears of a global trade war but steel producers outside North America believe they can weather the storm without too much disruption to...
  • Electrify will use new funding to expand its business, eyeing markets such as Southeast Asia, Japan and Australia. Photo: Reuters

    Singapore-based Electrify raises US$30 mln in ICO

    - Mar 8, 2018 6:17pm
    Singapore-based startup Electrify has raised US$30 million through an initial coin offering (ICO) as it seeks to expand its retail electricity marketplace business. The company, using blockchain technology, built a marketplace of retail electricity information, which...
  • Cobalt is a vital material for the lithium-ion rechargeable batteries that power Apple's mobile phones. Photo: Reuters

    Apple said to be in talks with miners to secure cobalt supplies

    Feb 22, 2018 9:01am
    Apple Inc. is talking to major cobalt producers to secure supplies of the material vital for the lithium-ion rechargeable batteries that power its mobile phones, Reuters reports, citing three cobalt industry sources. Apple declined to comment....
  • Russian magnate Oleg Deripaska is reported to be preparing to relinquish direct operational control of aluminum giant Rusal and energy firm En+. Photo: Reuters

    Russian tycoon Deripaska to quit roles at Rusal, En+: report

    Feb 20, 2018 9:32am
    Russian billionaire Oleg Deripaska plans to step down from his roles at aluminum giant Rusal and energy firm En+ Group, Reuters reports, citing sources familiar with the matter. Deripaska has decided to relinquish direct operational control...
  • A Chinese solar firm is planning to open a manufacturing facility in the US following the Trump administration's decision on tariffs on imported panels. Photo: Bloomberg

    China’s JinkoSolar announces plan to open US production facility

    Jan 30, 2018 9:26am
    Chinese solar manufacturer JinkoSolar Holding Co. has unveiled plans to open a plant in the United States, a week after US President Donald Trump imposed tariffs on imported solar panels. JinkoSolar said on Monday that its board...
  • Mohammed bin Salman, the 32-year-old Saudi Crown Prince, needs US support as he seeks to consolidate his power and push forward his economic and social vision for the country. Photo: Bloomberg

    The fall of Islamic extremism; the rise of Aramco

    - Jan 24, 2018 1:16pm
    Nobel Prize-winning economist Robert Shiller, based on his work on “Narrative Economics”, which studied the effects that narratives and stories can have on the global economy, picks Donald Trump’s election victory in the US and the...
  • Noble Group said it remains in talks with potential strategic parties and its creditors. Photo: Reuters

    Chinese group interested in buying Noble: Bloomberg

    Jan 23, 2018 9:38am
    A Chinese conglomerate has expressed interest in buying control of the troubled commodity trader Noble Group, Bloomberg reports, citing people familiar with the matter. Cedar Holdings Group, the largest private company in Guangzhou province, has reportedly...
  • China’s policy to promote the use of clean energy is unlikely to reverse. Photo: China Daily

    China gas shortage a blessing in disguise for pipeline operators

    - Dec 12, 2017 4:31pm
    China has been pushing hard to curb air pollution. Among the key initiatives aimed at achieving this goal is replacing coal with natural gas for energy needs. Authorities have set a target to help 3 million...
  • A series of top-level exits at AVIC Joy has left its minority shareholders befuddled.

    What’s going on at AVIC Joy?

    - Dec 5, 2017 4:01pm
    Something must have gone terribly wrong at AVIC Joy Holdings. The tiny listed firm, formerly known as China Environmental Investment Holdings, has had three chairmen in the space of just about four weeks. The company, which is involved...
  • Companies with a large portfolio of fossil fuels, like coal, will soon face severe uncertainty related to stranded assets. Photo: Bloomberg

    The greening of the miners

    - Nov 14, 2017 9:37am
    Donald Trump’s presidency in the United States has turned mining – and the coal industry in particular – into a political cause célèbre over the last year. In June, during his first White House cabinet meeting,...
  • Liu Zhongtian's Zhongwang USA canceled its plan to acquire Aleris after the US Committee on Foreign Investment in the United States did not approve it on national security grounds. Photo: Bloomberg/Reuters

    Aleris, Zhongwang USA scrap merger after regulatory snag

    Nov 14, 2017 9:11am
    Zhongwang USA, an investment firm backed by Chinese tycoon Liu Zhongtian, has called off its planned acquisition of US aluminum maker Aleris Corp. after failing to win US government approval, Reuters reports. The companies said the US$2.33...
  • Noble is slashing jobs and selling assets to reduce its debt and win support from its lenders. Photo: Reuters

    Noble to sell oil liquids business to Vitol, flags big 3Q loss

    Oct 23, 2017 10:19am
    Struggling commodities trader Noble Group agreed to sell its Americas-focused oil liquids business to Vitol for about US$580 million as part of a debt-cutting strategy, and warned of a big loss for its third quarter, Reuters...
  • 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...

EJI Weekly Newsletter

Please click here to unsubscribe