Resources,Power & Utilities

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 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...

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...

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...

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...

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 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,...

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...

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...

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 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...

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...

OPEC’s top official has sought to allay speculation that a surge in US shale output could impact the oil cartel’s agreement to cut oil production. Addressing an oil conference in London Tuesday, OPEC Secretary-General Mohammed Barkindo...

Chinese firms have emerged as big winners in the contest among foreign bidders for stakes in Abu Dhabi’s largest oil concession, grabbing a combined 12 percent of the venture. Bloomberg reports that Abu Dhabi National Oil Co. the...

Saudi Arabia will award its first tender to build 700 megawatts of solar and wind energy in September, with the cost of power forecast to be the lowest in the world, Bloomberg reports. OPEC’s biggest oil...

Toshiba Corp. plans to stop building nuclear power plants after incurring billions of dollars in losses trying to complete long-delayed projects in the US, a move that could have widespread ramifications for the future of the...

US shale drillers are poised to step up spending on exploration and production activities next year, thanks to recovering oil prices and increased bank funding, Reuters reports. Shale firms could ramp up capital investments by 30...

Toshiba Corp. lost a fifth of its market value Wednesday after the Japanese conglomerate warned it might have to take a multibillion-dollar write-down related to its nuclear power business in the US. The drop followed a...

Japan formally pulled the plug on an US$8.5 billion nuclear power project designed to realize a long-term aim for energy self-sufficiency after decades of development that yielded little electricity but plenty of controversy. The move to...

US President Barack Obama has banned new oil and gas drilling in federal waters in the Atlantic and Arctic Oceans, in a push to leave his stamp on the environment before Republican Donald Trump takes office...