Reuters Saudi Aramco has shelved plans for a multi-billion-dollar refining and petrochemical joint venture with Petronas in Malaysia, industry sources familiar with the matter told Reuters on Wednesday. The Refinery and Petrochemical Integrated Development (RAPID) at Pengerang in the state of Johor in southern Malaysia was to have had a 300,000-barrel-per-day refinery and petrochemical complex with a chemical output ...

  Bloomberg Oil gains eased in New York after an industry report that US crude and fuel stockpiles climbed last week. Crude supplies rose 2.93 million barrels, the American Petroleum Institute was said to report. Futures lost about 27 cents per barrel from the close after the release of the data. Iraq has trimmed supply by 180,000 barrels a day ...

  Bloomberg Chinese smartphone brands led by Vivo have muscled out local rivals in India with increasingly stylish yet affordable devices, challenging Samsung Electronics Co. for supremacy in the world’s fastest-growing major phone market. Chinese labels occupied four of the top five spots in 2016’s final quarter, shoving aside Micromax and Intex, according to a Counterpoint Research report released. Samsung ...