Bloomberg Tongwei Co. plans to spend 12 billion yuan ($1.8 billion) to build two solar-cell factories that would make the Chin- ese firm the world’s big- gest manufacturer of products that generate electricity from the sun. The company’s Tongwei Solar Energy (Hefei) unit will set up one plant in the eastern city of Hefei and a second in the southwestern …

BASRA / Reuters Oil major Royal Dutch Shell has agreed to exit the Majnoon oilfield and hand over its operation to the state-run Basra Oil Co. by the end of June 2018, two oil officials close to the deal said on Wednesday. A letter signed by Iraqi oil minister Jabar Luaibi, dated August 23 and seen by Reuters, gave appr- …

Bloomberg Chevron Corp. is planning a significant drilling program in the Duvernay shale formation, marking a vote of confidence in Canada’s energy industry in a year when it joined other majors in selling assets there. The initial development in the East Kaybob section of the formation will encompass about 55,000 acres (22,000 hectares), the San Ramon, California-based company said. Chevron …