Resources,Power & Utilities

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...

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...

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...

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...

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...

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 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...

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,...

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...

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...

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...

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...