December, 2020

• 1 December

  UK’s National Grid to trial gas network with hydrogen

  

  Bloomberg National Grid Plc is starting a hydrogen research facility to test how Britain’s gas transmission network can be used to transport hydrogen to heat homes or applied to industry. The 12.7 million-pound ($17 million) project will receive almost three quarters of its funding from Ofgem as part of the energy regulator’s Network Innovation Competition, announced on Monday, with the …

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• 1 December

  US targets China oil giant after South China Sea row

  

  Bloomberg China’s third-biggest oil company faces a US blacklist, which could spur major outflows from its Hong Kong-listed unit, after years of involvement in offshore drilling in disputed South China Sea waters. China National Offshore Oil Corp (CNOOC), the nation’s main deepwater explorer, is among four companies to be added to a list of firms owned or controlled by the …

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• 1 December

  Nord Stream 2 pipeline construction to restart

  

  Bloomberg Construction work on the Nord Stream 2 gas pipeline in the Baltic Sea will resume this week, despite US sanctions designed to end the pipeline that will bring Russian gas to Germany. Pipelaying on the 9.5 billion-euro ($11.2 billion) link will restart on December 5 after being halted for a year because of the sanctions, Nord Stream 2 company …

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• 1 December

  Stocks slip after record rally; oil extends retreat

  

  Bloomberg US futures slipped and European stocks steadied on the last day of the month after record-breaking rally in global equity markets. Oil extended a retreat on signs of discord among Opec+ ministers. The rotation that sent stocks to all-time highs showed signs of a slight reversal, with technology companies holding firm, while small-caps, banks and energy producers were broadly …

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• 1 December

  South African stocks fall, paring best Nov gains since 2001

  

  Bloomberg South Africa’s main stock benchmark index dropped for a second day, down 1.1% by 9:42 am in Johannesburg, the biggest intraday decline in more than a week, as market giant Naspers Ltd joined diversified miners and banks in pulling the main gauge lower. Risk-off sentiment was evident in early trade, with 91 of the 141 listed companies declining, while …

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November, 2020

• 30 November

  Iraqi minister denies seeking exemption from Opec+ oil cuts

  

  Bloomberg Iraq hasn’t asked for an exemption from Opec+ limits on the country’s oil output for fear that an increase in production might cause crude prices to fall, Oil Minister Ihsan Abdul Jabbar said, according to state-run newspaper Al-Sabah. The results of the Opec+ coalition’s output-cuts deal have been positive and stabilising for the oil market, given the impact the …

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• 30 November

  No tremors felt in UAE after earthquake rocks south Iran

  ABU DHABI / WAM A 5.0 magnitude earthquake on Richter scale was recorded in south Iran at a depth of 10 km at 8:24 UAE local time, according to the NCM National Seismic Network. The National Center of Meteorology National Seismic Network affirmed that no tremors were felt in the UAE after an earthquake shook Iran on Sunday morning and …

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• 30 November

  Repsol to boost renewables fivefold, cuts dividend for 2021

  

  Bloomberg Repsol SA will reduce its dividend next year after outlining plans to wind down the search for oil and expand its renewable capacity fivefold during the next decade. The Spanish company, which was the first oil major to set a net-zero emissions target a year ago, will put its projects into “harvest mode” as it refocuses on higher-value oil …

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• 30 November

  Black Friday gets busted by Covid in sign of retail’s future

  

  Bloomberg Black Friday — once the ultimate US shopping day — is being disrupted like so much else in these Covid-19 times, with consumers largely avoiding malls and instead flocking online. What that means for overall sales for the holiday season remains to be seen, but it’s becoming clearer that the pandemic has only accelerated the move away from big …

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• 30 November

  Airbus confident in A320 jet ramp-up amid aviation crisis

  

  Bloomberg Airbus SE is confident in its plan to increase production of the best-selling A320 family of jets to a rate of 47 a month next year, even as the slump in air travel puts pressure on customers, according to people familiar with the matter. The company has extensively stress-tested its backlog of orders for the model, and remains comfortable …

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