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Aramco CEO: Post-IPO tax burden will link to oil prices

Bloomberg Saudi Aramco’s chief executive said the most important tax paid by the state-owned energy giant will fluctuate with the price of oil, a significant move ahead of the company’s initial public offering this year. Adjusting the 20 percent royalty on oil revenue Aramco currently pays would help the kingdom to raise extra money if prices climb. While not unusual ...

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US gas gurus divided between warm spell bears and $4 bulls

Bloomberg US natural gas soothsayers are at a stalemate. Bulls say more arctic air may vault futures above $4 for the first time since 2014. Bears see the February contract expiration and a warm spell dragging them lower. Welcome to the suddenly uncertain world of fuel trading. Eight of 17 traders and analysts surveyed by Bloomberg News predicted prices that ...

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‘European gas can cope with Groningen cuts’

BERLIN / Reuters European gas networks can cope with further production cuts at the Dutch Groningen field as the government seeks to limit earthquake risks, a leading pipeline company and gas industry official said in an interview. The Dutch government had said that output at the major European field, which used to provide 53 billion cubic metres (bcm) per year ...

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SunPower seeks exemption from Trump’s solar tariffs

Bloomberg US solar panel maker SunPower Corp. is planning to ask for an exemption to the 30 percent tariff on imported solar panels that President Donald Trump approved. The company that manufactures most of its panels at factories in Asia and Mexico could hire more workers at its headquarters in San Jose, California, and invest in a “pilot” factory in ...

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Landowners, frackers in tense faceoff in wake of Colorado blast

Bloomberg The fracking frenzy in Colorado is spurring a tense faceoff between shale drillers in the region and residents seeking a better handle on the dangers in their own backyards after a killer pipeline explosion last year. Gov. John Hickenlooper ordered a review of oil and natural gas operations after the April blast, which destroyed a home, killed two men ...

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Japan crypto exchange’s $400mn NEM token loss spooks investors

Bloomberg The disclosure that one of Japan’s biggest cryptocurrency exchanges lost about $400 million in NEM tokens is spooking investors in a country still wary of such venues four years after the collapse of Mt. Gox. After hours of speculation, Coincheck Inc. said the coins were sent “illicitly” outside the venue. Co-founder Yusuke Otsuka said the company didn’t know how ...

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Permira to buy Australia’s I-Med for $1.1 billion

Bloomberg Permira has agreed to buy Australia’s I-Med Radiology Network from EQT Partners and other investors, the Swedish buyout firm said in a statement. Permira, the London-based private equity firm, will pay about $1.1 billion for I-Med, according to people with knowledge of the matter, who asked not to be identified because the details are private. The transaction, Permira’s first ...

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Khosrowshahi to make first Asia visit as Uber CEO in Feb

Bloomberg Uber Technologies Inc.’s Dara Khosrowshahi has scheduled his first visit to Asia since taking over as chief executive officer amid questions about the ride-hailing giant’s future in the region. Khosrowshahi will visit Japan and India during the week of February 19 to meet business and government leaders, said Chris Brummitt, a spokesman for Uber. The CEO will discuss ways ...

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China economy starts 2018 on solid trajectory

Bloomberg As the latest China data showed some softening at the end of an upbeat year, reports for this month are looking likely to show the economy keeping pace despite slowing industrial profits. The earliest indicators for January show momentum remains intact, with sales managers the most upbeat since July, financial experts more optimistic, and satellite imagery signalling manufacturing conditions ...

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