September, 2017

• 11 September

  China set to unveil auto emission, mileage rule

  Bloomberg China will soon unveil a mandatory cap-and-trade credit programme for electric cars, starting the countdown for carmakers to be in compliance with stricter rules on emissions and fuel economy, according to the country’s state-backed auto association. The policy may be announced as early as this week, Shi Jianhua, deputy secretary general of the China Association of Automobile Manufacturers, said ...

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• 11 September

  Chengdu tops as China’s best-performing big city

  

  Bloomberg Chengdu, the capital of southwest China’s Sichuan province, reclaimed the top spot in a Milken Institute ranking of the country’s best-performing big cities. Nearby Chongqing climbed to second place, while Guiyang, the capital of China’s poor-but-fast- growing Guizhou province, fell to third from first, according to a report released on Monday by the Santa Monica, California-based think tank founded ...

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• 11 September

  Hong Kong’s richest man invests in Japanese electric car production

  

  Bloomberg Hong Kong billionaire Li Ka-shing agreed to buy an indirect stake in a Japanese maker of electric cars, expanding his investments in an area that’s set to benefit from China’s push to phase out gasoline and diesel vehicles. Li and two other investors are buying a stake in O Luxe Holdings Ltd., according to two company filings made in ...

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• 11 September

  China sends one of the West’s most vital materials soaring

  Bloomberg The price of one of the most critical materials for the Western world’s economy and defenses is spiking faster than any major commodity. Tungsten, used to harden steel in ballistic missiles and in drill bits, has surged more than 50 percent in the last two months amid growing concern about supply cutbacks in China, where about 80 percent of ...

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• 11 September

  Saudi open to oil output cuts extension

  

  DUBA / Reuters Saudi Arabian Energy Minister Khalid al-Falih discussed with his Venezuelan and Kazakh counterparts the possible extension of the global oil supply cut pact beyond March 2018, the Saudi energy ministry said. OPEC and other producers, including Russia, have agreed to reduce output by about 1.8 million barrels per day until next March in a bid to reduce ...

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• 11 September

  India reworks Exxon LNG deal to raise volume

  

  Bloomberg Petronet LNG Ltd. has reached an agreement to rework a liquefied natural gas supply agreement with Exxon Mobil Corp., the second such renegotiation by the Indian company for gas supplies after reaching a similar deal with Qatar, according to people with knowledge of the development. Under the new terms, the cost of the gas from the Gorgon LNG project ...

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• 11 September

  Oil gains as Irma weakens

  LONDON / Reuters Oil rose as Hurricane Irma weakened after hitting Florida, while Gulf Coast refining continued to recover following storm Harvey. Futures added 0.5 percent in New York after falling 3.3 percent on Friday. The intensity of Irma’s top winds have dropped to 75 miles (120 kilometers) per hour after making landfall Sunday as a Category 4 storm. About ...

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• 11 September

  Norway oil industry rouses Wintershall as M&A deals set to gain momentum

  

  Bloomberg When a recovery in crude prices sparks more deals in Norway’s oil industry, BASF SE’s Wintershall AG unit will be among those looking for opportunities. “Once oil prices increase, momentum will occur,” Wintershall Chief Executive Officer Mario Mehren said in an interview. “Norway’s attractive for M&A activities as they take place very transparently and the framework’s stable.” Wintershall has ...

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• 11 September

  US to see first annual decline in solar rooftop demand

  

  Bloomberg The US is poised to experience its first annual decline in solar-panel installations, as a drop in rooftop demand slows growth in the world’s second-biggest market. Developers added a total of almost 2.4 gigawatts in the second quarter, putting the industry on pace to reach 12.4 gigawatts this year, according to a report on Monday from GTM Research and ...

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• 11 September

  Europe sheds Brexit baggage, eyes bold relaunch

  

  Bloomberg What a difference a year makes for the European Union. Jean-Claude Juncker, president of the European Commission, will deliver the annual State of the Union speech this week in a more upbeat mood than a year ago, when the 28-nation bloc was buffeted by the UK’s decision to leave and anti-EU parties appeared to be on the march. In ...

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