SEOUL / WAM During an official visit to the Republic of Korea by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Abu Dhabi National Oil Company (Adnoc) has signed three framework agreements with Korean energy companies. The agreements will explore upstream exploration and production opportunities, …

ABU DHABI / WAM Mubadala Petroleum has announced that it signed the Production Sharing Contract (PSC) together with its partner PTTEP Energy Development Company Limited (PTTEP ED), a subsidiary of PTT Exploration and Production Public Company Limited, for offshore Block G1/61 containing the Erawan producing gas field in Thailand. The current Block G1/61 concession will expire in April 2022 and …

BELGRADE / WAM President Aleksandar Vucic of Serbia has opened the textile factory ‘Armis Luss Protect’ textile factory in the Raska District. The factory was funded by the Khalifa bin Zayed Al Nahyan Foundation. The opening ceremony was attended by the UAE Ambassador to Serbia Mubarak Saeed Ahmed Barasheed Al Dhaheri. The Serbian President thanked the UAE and the Khalifa …

Bloomberg The possibility of Britain exiting the European Union without a deal is coming into sharper focus for power, natural gas and carbon allowance traders as futures for next month start to expire. A no-deal Brexit could rattle traders because of the complicated links that hold the EU energy market together. For example, natural gas produced in Norway can be …

Bloomberg The backlash against shale drilling in earthquake-prone regions — a thorn in the side of US energy companies for the past decade — reached China this week after a series of temblors killed two people and reduced homes to rubble. China’s biggest oil and gas producer halted drilling in an area of the country’s shale hub after three quakes …

Bloomberg Global stocks dropped on Tuesday as the rush of optimism over US-China trade talks from earlier in the week faded. The pound rallied as UK Prime Minister Theresa May promised a vote to delay Brexit if her proposed deal fails. S&P 500 Index futures slid and European stocks edged lower after US President Donald Trump raised the possibility of …

Bloomberg Indian stocks and the rupee bounced off the day’s lows as investors assessed the impact of the rising tensions between India and Pakistan against the backdrop of falling oil prices and buoyant emerging markets. The S&P BSE Sensex tumbled as much as 1.4 percent and the rupee lost 0.5 percent in reaction to an air strike on a terrorist …

Bloomberg Federal Reserve policy makers see 2019 marking the end of their balance sheet run-off, but not necessarily their interest-rate increases. Minutes of the central bank’s January 29-30 policy meeting released showed “almost all participants” agreeing it best to halt roll-offs this year, a move that should be welcomed by investors worried the balance sheet draw-down is hurting the economy. …

Bloomberg Roberto Campos Neto needs no introduction in financial markets, but his thoughts on how the central bank could boost Brazil’s recovery have remained a mystery. While the money-making talents of the former Santander treasurer are well known, the Senate confirmation hearing should finally reveal what the nominee for the central bank’s presidency thinks about interest rates, inflation, and Brazil’s …

Bloomberg The European Union’s highest court overturned Latvia’s suspension of central bank Governor Ilmars Rimsevics as part of a bribery probe that’s shaken the Baltic nation. In a victory for the European Central Bank, the EU Court of Justice on Tuesday said Latvia last year illegally prohibited the ECB Governing Council member from performing his role as central bank governor. …