28 January 2020

Resources,Power & Utilities

  • China has set a target of reducing solid waste imports to zero by the end of 2020 but scrap metal meeting the new standards will be classed as a resource rather than waste. Photo: Bloomberg

    China unveils new standards for copper and aluminum scrap

    Jan 20, 2020 9:27am
    China’s market regulator published new standards for high-grade copper scrap and aluminum scrap metal on Sunday, shedding some light on what material will be allowed into the country from the second half of this year, Reuters...
  • China has agreed to ramp up purchases of hundreds of US products, including two of the 17 rare earths commonly used in lighting and computers. Photo: Bloomberg

    China to buy rare earths from US as part of trade pact

    Jan 16, 2020 7:59am
    China has agreed to buy two types of rare earth metals from the United States as part of an initial trade deal inked on Wednesday, Reuters reports. The agreement, signed in Washington by Chinese Vice Premier...
  • Camera and speaker modules taken from iPhones by Daisy, a recycling robot, are seen at an Apple recycling facility in Austin, Texas. Photo: Reuters

    Apple pushes iPhone recycling with ‘Daisy’ robot

    Jan 13, 2020 10:36am
    Apple Inc. is trying to change the way electronics are recycled with a robot that disassembles its iPhone so that minerals can be recovered and reused, while acknowledging rising global demand for electronics means new mines...
  • Aramco has exercised the over-allotment option in its IPO, boosting the size of the deal to a new record. Photo: Reuters

    Aramco exercises greenshoe option, taking IPO to US$29.4 bln

    Jan 13, 2020 9:23am
    Saudi state oil giant Aramco said on Sunday that it has exercised the greenshoe option to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record US$29.4 billion,...
  • China is opening up oil and gas exploration to foreign firms as part of efforts to boost domestic output and supplies. Representative image: Bloomberg

    China opens oil & gas exploration, production to foreign firms

    Jan 9, 2020 11:58am
    China will allow foreign companies into the oil and gas exploration and production business in the country, opening up the industry to firms other than state-run energy giants, Reuters reports. From May 1 this year, foreign...
  • ChemChina is reorganizing its agrichemicals business ahead of a planned public float of the unit. Photo: Reuters

    ChemChina, Sinochem moving agri assets into new holding firm

    Jan 6, 2020 9:48am
    ChemChina and Sinochem are consolidating their agricultural assets into a new holding company to be called Syngenta Group, Reuters reports, citing a statement on Sunday. Chen Lichtenstein, current president and CEO of Shenzhen-listed crop protection firm...
  • China's clean energy push will mean that natural gas will account for a bigger share in the nation's fuel consumption mix in the years to come. Photo: Reuters

    How China’s clean energy switch is driving natural gas demand

    - Dec 16, 2019 4:53pm
    China is seeing significant growth in demand for natural gas as the government encourages a switch from coal to cleaner energy. The country is in the second year of a new three-year action plan for cleaner...
  • Amin H. Nasser, President and CEO of Aramco, attends the official ceremony marking the debut of the Saudi oil giant on the Riyadh stock market on Wednesday. Photo: Aramco website/Handout via Reuters

    Aramco briefly hits US$2 trln market value on 2nd trading day

    Dec 12, 2019 4:54pm
    Saudi Aramco’s shares opened up 10 percent in their second day of trading in Riyadh on Thursday, briefly sending the state oil firm’s market value above the US$2 trillion mark, Reuters reports. The shares hit 38.7...
  • Officials attend a ceremony marking the debut of Saudi Aramco's initial public offering on the Riyadh's stock market, in Riyadh, Saudi Arabia, on Wednesday. Photo: Reuters

    Saudi Aramco shares jump 10% on stock market debut

    Dec 11, 2019 4:37pm
    Saudi Aramco shares surged the maximum permitted 10 percent above their initial public offering (IPO) price on their Riyadh stock market debut on Wednesday, closing in on the US$2 trillion valuation long sought by Saudi Crown...
  • The US military is said to be preparing to invest in commercial-scale rare earths processing facilities. Photo: Reuters

    US Army to fund rare earths plant for weapons devt: report

    Dec 11, 2019 2:43pm
    The US Army plans to fund construction of rare earths processing facilities, part of an urgent push by Washington to secure domestic supply of the minerals used to make military weapons and electronics, Reuters reports, citing...
  • A newly created entity is set to manage most of China's oil and gas pipeline infrastructure. Photo: Reuters

    China sets up state oil, gas pipe firm to boost competition

    Dec 10, 2019 9:43am
    China has set up a long-awaited national oil and gas pipeline company in an effort to boost competition for the infrastructure that has mainly been controlled by three state oil groups, Reuters reports, citing Beijing’s state...
  • Journalists and police officers stand outside the OPEC headquarters in Vienna on Thursday. Photo: Reuters

    OPEC, allies agree to deepen oil output cuts

    Dec 6, 2019 9:20am
    Oil producers led by Saudi Arabia and Russia agreed to cut output by an extra 500,000 barrels a day in the first quarter of 2020 but stopped short of pledging action beyond March, Reuters reports. The...
  • Saudi Aramco raised US$25.6 billion in its initial public offering, beating Alibaba's record US$25 billion listing in 2014. Photo: Reuters

    Aramco prices shares at top of range in world’s biggest IPO

    Dec 6, 2019 9:16am
    State-owned oil giant Saudi Aramco’s initial public offering (IPO) will be the biggest in history, but will fall short of the towering US$2 trillion valuation long sought by Crown Prince Mohammed bin Salman. Aramco priced its...
  • London has seen a sharp drop in stock market fundraising this year amid the Brexit uncertainty. Photo: Reuters

    China’s SDIC puts off London listing plan

    Dec 5, 2019 9:48am
    Chinese power generation company SDIC has put off plans for an offering of global depositary receipts (GDRs) in London, citing market conditions, Reuters reports. SDIC, which was set to become the second Chinese company to make...
  • Zijin Mining expects its gold reserves to exceed 2,000 tons after the purchase, with output eventually increasing by about 20 percent. Photo: Reuters

    Zijin Mining to buy Canada’s Continental Gold for US$1 billion

    Dec 3, 2019 8:02am
    China’s Zijin Mining Group Co. Ltd. (02899.HK, 601899.CN) has agreed to buy Canadian miner Continental Gold Inc. for C$1.3 billion (US$1 billion), Reuters reports. State-backed Zijin’s offer for Continental, announced on Monday, aims to secure Continental...
  • Russian President Vladimir Putin said the launch of the gas pipeline "takes Russo-Chinese strategic cooperation in energy to a qualitative new level". Photo: Sputnik via Reuters

    Putin and Xi open gas pipeline from Siberia to northeast China

    Dec 3, 2019 7:46am
    Russian President Vladimir Putin and his Chinese counterpart Xi Jinping on Monday oversaw the launch of a landmark pipeline that will transport natural gas from Siberia to northeast China, Reuters reports. The start of gas flows...
  • The disposals would help Exxon increase spending on new developments and appease investors unhappy with weak cash generation and oil output. Photo: AFP

    Exxon aims to sell US$25 billion of assets: report

    Nov 22, 2019 7:40am
    Exxon Mobil plans to sell up to US$25 billion of oil and gas fields in Europe, Asia and Africa in its biggest asset sales for decades, seeking to free up cash to focus on a handful...
  • Saudi Aramco plans to sell 1.5 percent of the company, or about 3 billion shares, at an indicative price range of 30 riyals to 32 riyals, valuing the initial public offering at as much as 96 billion riyals (US$25.6 billion). Photo: Reuters

    Aramco in race for IPO record with US$1.7 trillion top value

    Nov 18, 2019 8:05am
    Saudi Aramco is worth up to US$1.7 trillion at the price range set by the oil giant on Sunday, below the US$2 trillion sought by Saudi’s crown prince but putting it in the running to become...
  • As static supply meets growing demand for fresh water, inevitable water shortages cannot be expected to fix themselves. Photo: Reuters

    Investing in sustainable water solutions for the future

    - Nov 15, 2019 3:06pm
    The water investment theme offers an opportunity for an active investment approach due to the diversity of the underlying players, and an immunity to political and sentiment-driven volatility given the value of water as a social...
  • Bankers think the long-awaited IPO will value Aramco around US$1.5 trillion. Photo: Reuters

    Aramco prospectus flags risks, gives few details on IPO size

    Nov 11, 2019 7:45am
    Saudi state oil giant Aramco will sell up to 0.5 percent of its shares to individual retail investors and will be restricted from issuing additional shares for a year after the initial public offering, Reuters reports,...