23 January 2019

Resources,Power & Utilities

  • 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...
  • United Photovoltaics inked a preliminary pact with UNDP in September 2016 to jointly build so-called Panda Solar Power Plants. Photo:

    United PV rides China’s Belt and Road push

    - Apr 10, 2017 4:35pm
    Numerous companies related to China’s Belt and Road initiative posted improved results for 2016. This has, in turn, helped spark renewed interest in the economic plan heavily promoted by Beijing. Among the entities associated with the...
  • The Vogtle Unit 3 and 4 site, being constructed by primary contactor Westinghouse, a unit of Toshiba, near Waynesboro, Georgia, is seen this file picture. Photo: Reuters

    US, Japan in talks to prevent China from acquiring Westinghouse

    Apr 7, 2017 8:10am
    The Trump administration and the Japanese government are in discussions to ensure that the bankruptcy of Toshiba Corp.’s US unit Westinghouse Electric Co. does not lead to US technology secrets and infrastructure falling into Chinese hands,...
  • A file photo shows a nuclear reactor being constructed by Westinghouse near Waynesboro, Georgia, in the United States. Credit: Reuters

    Toshiba unit Westinghouse files for bankruptcy protection

    Mar 30, 2017 8:47am
    Japan’s Toshiba Corp. announced that its US nuclear power unit Westinghouse Electric Co. has filed for Chapter 11 bankruptcy protection following huge losses and a huge debt burden. The company filed the petition in the US...
  • Kuwait Oil Minister Ali Al-Omair opens the OPEC second Joint Ministerial Monitoring Committee meeting in Kuwait. Photo: Reuters

    OPEC, non-OPEC weigh 6-month extension of oil output cut

    Mar 27, 2017 8:08am
    A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months, Reuters reports, citing a statement. An earlier draft...
  • Sinopec said the assets it acquired from Chevron include a 100,000 barrel-per-day oil refinery in Cape Town, South Africa. Photo: Bloomberg

    Sinopec to pay US$1 bln for Chevron oil assets in Africa

    Mar 23, 2017 7:46am
    China’s Sinopec (00386.HK, 600028.CN) will pay almost US$1 billion for a 75 percent stake in Chevron Corp’s South African assets and its subsidiary in Botswana to secure its first major refinery in Africa. China Petroleum and...
  • Exxon Mobil says its investments in 11 sites will create about 35,000 temporary construction jobs and 12,000 permanent jobs. Photo: Reuters

    Exxon to invest US$20 bln on US Gulf Coast refining projects

    Mar 7, 2017 8:11am
    Exxon Mobil Corp., the world’s largest publicly traded oil producer, will invest US$20 billion through 2022 to expand its chemical and oil refining plants on the US Gulf Coast, Reuters reports. The investments at 11 sites...
  • Chevron and Zhenhua Oil signed a preliminary pact in January and are trying to complete the deal by June. Photo: Reuters

    China state firm in deal to buy Chevron’s Bangladesh gas fields

    Feb 23, 2017 7:53am
    China’s state-run Zhenhua Oil has signed a preliminary agreement with Chevron to buy the US oil major’s natural gas fields in Bangladesh worth about US$2 billion, Reuters reports. Zhenhua is a subsidiary of China’s defense industry...

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