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NEW DELHI / Reuters Libya’s Sharara oilfield is producing about 180,000 barrels per day (bpd), 100,000 bpd below recent levels, because of security problems, two workers at the field said. They said that a facility about 40 km west of the field was shut because of poor security, hindering the recovery of production since the field reopened after a pipeline ...
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September, 2017
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16 September
Saudi Aramco to finish first unit in Jizan refinery by 2017 end
KHOBAR / Reuters Saudi Aramco is expected to complete the first major unit of a new refinery in southwestern Jizan province by the end of this year but refining operations will only start a year later, industry sources said. The refinery on the Red Sea is part of a plan to revive the region by building an economic city which ...
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16 September
China’s oil giant begins partner search in Mexico’s deep waters
Bloomberg Cnooc Ltd. is searching for partners to develop oil prospects deep into the Gulf of Mexico as the Chinese giant extends its global reach. After bidding alone for exploration rights in Mexico’s first-ever deep-water auction in 2016, Cnooc is seeking deals known as farmouts, a common type of joint venture where a stake in an oil prospect is exchanged ...
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16 September
New China energy star still hungry after $9bn Rosneft deal
Bloomberg A $9 billion stake in one of the world’s biggest oil companies may not be enough for CEFC China Energy Co. A week after China’s largest private energy company struck a deal for a chunk of Rosneft PJSC, it’s been pegged as a possible investor in a Russian metals and power business and a free-trade zone in Georgia’s Black ...
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16 September
India’s NTPC triples gas use amid power supply shortages
Bloomberg NTPC Ltd., India’s biggest electricity producer, has boosted natural gas-fired generation as a drop in hydropower, nuclear and wind energy increases demand for thermal power, according to company officials with knowledge of the situation. Plant utilisation at NTPC’s gas-fired stations has almost tripled to 60 percent in the past three to four days, said the officials, who asked not ...
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16 September
China’s Ant to renew US review of moneyGram sale
Bloomberg Ant Financial is expected to make a third try for US approval of its takeover of MoneyGram International Inc. as a secretive national security panel throws up hurdles for Chinese investors seeking to buy American companies. The former affiliate of Jack Ma’s Alibaba Group Holding Ltd. is preparing to resubmit the $1.2 billion deal for review before the US ...
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16 September
‘Chocolate fries’ come to McDonald’s Japan rescue
Bloomberg McDonald’s Japan took a series of hits starting in 2014 that threatened to crack its Golden Arches: a supplier was selling expired chicken, a human tooth was found in french fries and a child was injured by a plastic shard inside a sundae. Sales plummeted to their lowest since the company went public in 2001, and the chain closed ...
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16 September
Tata-Mistry feud deepens, may change holding firm
Bloomberg Tata Group’s feud with one of India’s richest families deepened after the country’s biggest conglomerate moved to change its holding company’s legal status to one that would restrict the Mistry family’s ability to sell its stake to external investors. Shareholders of the closely held company, Tata Sons Ltd., are scheduled to vote September 21 on changing its registration to ...
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16 September
China, a hotbed for ‘AI’ investors
Bloomberg To see the future of artificial intelligence, look East, said venture capitalist Jim Breyer. “China right now represents about half of the most interesting AI investment opportunities in the world,†Breyer said at the CNBC Institutional Investor Delivering Alpha conference in New York. Breyer’s bullishness about China stems from the accelerated deployment of internet technologies in urban and rural ...
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16 September
EU working on digital tax to stem outflow of ‘bags of money’
ÂÂÂÂÂÂÂÂÂÂÂBloomberg European Union finance ministers are developing a new way to tax digital companies such as Amazon.com Inc. and Facebook Inc. to raise money from an industry that they say provides less than it should to public coffers. French Finance Minister Bruno Le Maire told colleagues at a meeting in Tallinn, Estonia, that the bloc should agree to a tax ...
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