24 January 2018

Resources,Power & Utilities

  • The Monju reactor has worked for just 250 days of its 22-year lifespan. Photo: Reuters

    Japan shuts down US$8.5 bln nuclear reactor

    Dec 22, 2016 7:40am
    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 used a 1950s-era law that allows presidents to limit areas from mineral leasing and drilling. Photo: Internet

    Obama bans new oil drilling in Atlantic, Arctic waters

    Dec 21, 2016 8:53am
    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...
  • Abu Dhabi investor Mubadala Development Co. is likely to hold the BP shares, according to sources. Photo: Internet

    BP buys stake in Abu Dhabi oil field for US$2.2 bln

    Dec 19, 2016 8:33am
    BP Plc. is swapping about US$2.2 billion of its own shares for a stake in one of Abu Dhabi’s largest onshore oil concessions, cementing its 77-year relationship with the emirate. The UK’s second biggest oil group...
  • Sinopec could raise US$10 billion by selling shares in its convenience-store and gas-station unit. Photo: Bloomberg

    Sinopec revives US$10 bln IPO plan for retail unit

    Dec 15, 2016 8:48am
    China Petroleum & Chemical Corp. (Sinopec) has revived plans for an initial public offering of its gas-station and convenience-store unit, the Wall Street Journal reports, citing people familiar with the matter. A deal could raise as...
  • Sinopec is working with advisers and has made an approach to Gulf Keystone, according to reports.

    Sinopec eyes takeover of Kurdistan’s Gulf Keystone

    Dec 14, 2016 8:35am
    China Petroleum & Chemical Corp. (Sinopec), the world’s biggest refiner, is weighing a takeover of beleaguered Kurdish oil producer Gulf Keystone Petroleum Ltd., Bloomberg reports, citing people familiar with the matter. The state-owned oil giant is...
  • The world will see new technologies emerge in the next 10 to 20 years in relation to cutting greenhouse gas emissions, says Bill Gates. Photo: Reuters

    Bill Gates joins Jack Ma, others for clean-tech fund

    Dec 13, 2016 9:10am
    US billionaire Bill Gates has teamed up with other business leaders, including Alibaba Group founder Jack Ma, to launch a US$1 billion clean-technology fund. The fund, Breakthrough Energy Ventures, will start investing next year in companies...
  • Sinopec has been weigned down by persistently low world oil prices, making the pipeline sale timely. Photo: AP

    Sinopec eyes US$3.3 bln from sale of pipeline stake

    Dec 13, 2016 8:52am
    Sate-owned energy giant China Petroleum & Chemical Corp. (Sinopec) said Monday it would raise US$3.3 billion in fresh capital from the sale of a major pipeline stake. The state-owned oil-and-gas company said in a filing with...
  • US drilling rigs have increased, boosting sentiment that shale gas would offset potential cuts from other energy producers.Photo: Reuters

    Oil retreats on doubts OPEC cuts can ease glut

    Dec 6, 2016 8:01am
    US crude futures strengthened Monday but retreated in post-settlement trade as the market lost confidence OPEC cuts would be sufficient to reduce oversupply given increased US drilling. US West Texas Intermediate crude rose early in the...
  • Duet said its board is considering CKI's unsolicited offer of A$3 per share in cash. Photo: Duet

    CKI makes US$5.4 bln bid for Australian energy group Duet

    Dec 5, 2016 8:33am
    Hong Kong-listed Cheung Kong Infrastructure Holdings Ltd. (01038.HK) has made a A$7.3 billion (US$5.44 billion) bid for Australian energy infrastructure owner Duet Group, Duet said on Monday. Duet said it has received an “an unsolicited, indicative,...
  • Coal will make up about 55 percent of the electricity mix by 2020, down from about two-thirds in recent years. Photo: Reuters

    China ramps up coal power despite climate pledge

    Nov 8, 2016 8:11am
    China will raise coal power capacity by as much as 20 percent by 2020, ensuring a continuing strong role for the commodity in the country’s energy sector despite a pledge to bring down pollution levels. In...
  • Proceeds from the sale of the stake in Rosneft will be used to beef up Russia's budget. Photo: Bloomberg

    Russia signs decree to sell 19.5% Rosneft stake

    Nov 8, 2016 8:04am
    Russia has published a government decree ordering the sale of a 19.5 percent stake in state-controlled oil giant Rosneft in time for the proceeds to be received by the end of the year. The decree, signed...
  • Roberto Vázquez says ASB Biodiesel has the technology to convert low quality waste oil, such as grease trap oil, into biodiesel. Photo: EJ Insight

    ASB Biodiesel eyes opportunities in Pearl River Delta region

    - Nov 4, 2016 11:11am
    ASB Biodiesel (Hong Kong) Ltd., the largest used oil refiner in Hong Kong, is seeking to expand its production to the Pearl River Delta region in southern China in the coming years. “China has a lot...
  • Currently, less than 0.2% of the electricity supply in Hong Kong comes from solar energy. Photo:

    Why Hong Kong is ripe for a solar future

    - Oct 7, 2016 11:05am
    With solar energy accounting for a minuscule proportion of the electricity supply in Hong Kong, the government must focus on tapping the abundant sunshine in the city and new solar technologies. With the long blistering days...
  • Caelus Energy’s oil exploration operation is shown in Smith Bay, off the coast of Alaska’s far north. The company said it struck a major oil field on Tuesday. Photo: Caelus Energy

    Explorer strikes major Alaska oil find

    Oct 5, 2016 8:24am
    A little-known energy exploration company has made a major oil discovery in remote Alaska. Caelus Energy LLC, a closely held firm backed by private equity fund Apollo Global Management LLC, said it made the oil find...
  • China plans to double its nuclear capacity from the current level to at least 58 GWe by 2020-21 and then 150 GWe by 2030. Photo: Xinhua

    China takes giant step toward becoming world’s top nuclear power

    - Oct 4, 2016 9:07am
    Last week, China took a giant step toward its ambition to be the world’s top builder and exporter of nuclear power stations. At a major ceremony in London on Thursday, government ministers from China, Britain and...
  • OPEC will reduce output to a range of 32.5-33.0 million barrels per day, from 33.24 million bpd at present. Photo: Reuters

    Oil prices jump after OPEC reaches deal to cut output

    Sep 29, 2016 8:13am
    OPEC has agreed to modest oil output cuts in the first such deal since 2008, with the group’s leader Saudi Arabia softening its stance on arch-rival Iran amid slumping oil prices. Oil prices jumped more than...
  • Excessive capacity of mega wind farms in Gansu, such as the Jiuquan project, has led to widespread curtailment and a sharp decline in usage in recent years. Photo:

    China’s renewable energy glut

    - Sep 27, 2016 12:42pm
    Nearly half of the wind turbines installed in Gansu province in northwestern China had to be shut down in the first quarter this year, or curtailed in wind farm jargon, up from 39 percent last year....
  • China aims to eliminate 100-150 million tons of steel production capacity – out of a total of 1.2 billion tons – by 2020. Photo: Reuters

    Top China steelmakers to unveil merger plans this week

    Sep 20, 2016 3:50pm
    Two of China’s top steelmakers are expected to announce merger plans this week amid a global glut in the commodity. State-owned Baosteel Group, China’s second-largest steelmaker, will absorb Wuhan Iron and Steel Group to create a...
  • The Spectra deal will help Enbridge position itself better for the futures, says the latter's CEO Al Monaco. Photo: Bloomberg

    Canada’s Enbridge to buy Spectra Energy in US$28 bln deal

    Sep 7, 2016 8:48am
    Canadian pipeline operator Enbridge Inc. has agreed to buy Houston-based Spectra Energy Corp. in a US$28 billion deal that will create the largest North American energy infrastructure company. Under the terms of the all-stock deal, Spectra shareholders...
  • Russian President Vladimir Putin met Saudi Deputy Crown Prince Mohammed bin Salman at the G20 summit in Hangzhou, China on Monday. Photo: Reuters

    Saudi Arabia, Russia to cooperate in world oil markets

    Sep 6, 2016 9:16am
    Saudi Arabia and Russia have agreed to cooperate in world oil markets, saying they will not act immediately but could limit output in the future. The announcement sent prices higher on hopes the two top oil...

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