August, 2017

• 21 August

  Iraq plans major change into oil pricing for Asia

  

  SINGAPORE / DUBAI / Reuters Iraq has informed its customers that it plans to switch its price benchmark for Basra crude in Asia to DME Oman futures from January, dropping the average of Platts’ Oman-Dubai quotes, in a major shift in the way it prices its oil. The proposal by state-oil marketer SOMO would mark a significant change by OPEC’s ...

  Read More »
• 21 August

  Saudi issues rules for ‘small-scale solar energy’

  

  KHOBAR / Reuters Saudi Arabia has issued a regulatory framework for electricity consumers to operate their own, small-scale solar power generating systems and export unused power to the national grid, the government said on Monday. The rules will come into force next July 1 and cover small photovoltaic facilities with generating capacity of no more than 2 megawatts, the Electricity ...

  Read More »
• 21 August

  Iran seeks ‘funds’ for oil sector

  BEIRUT / Reuters Attracting foreign investment for Iran’s oil sector will continue to be a top priority during President Hassan Rouhani’s second term, Iranian Oil Minister Bijan Zanganeh said. “Attracting foreign investment and technology is a priority for us in the oil industry, whether in shared fields or for increasing the production of oil at fields that are already operational,” ...

  Read More »
• 21 August

  Shell mulls buying Israel, Cyprus gas for Egypt plant

  

  Bloomberg Royal Dutch Shell Plc is seeking creative solutions to bring gas from Israel and Cyprus to market, a step that could help turn the Mediterranean region into a major gas- producing hub. Shell is in talks to buy natural gas from Israel’s Leviathan field, combine it with output from Cyprus’s Aphrodite field, in which it owns a 35 percent ...

  Read More »
• 21 August

  Telecom startup plans $800mn ‘solar towers’ investment in Africa

  Bloomberg GreenWish Partners, a renewable energy company run by a former Morgan Stanley executive, is planning to invest $800 million on solar-powered telephone towers across Africa. The project could fuel economic growth by providing power for essential services. Sub-Saharan Africa has the lowest rates of energy access in the world and is home to about half of the world’s 1.2 ...

  Read More »
• 21 August

  Unicom rises in Shanghai, Hong Kong on $11.7bn sale

  

  Bloomberg Shares of Unicom Group’s key units in Shanghai and Hong Kong rose after China’s second-largest wireless carrier announced a $11.7 billion stock sale as part of a government push to draw private capital into its state-owned enterprises. China United Network Communications Ltd., which has been suspended from trading since April, climbed by the 10 percent daily limit to 8.22 ...

  Read More »
• 21 August

  Thailand economy grows at fastest pace in over four years

  

  Bloomberg Thailand’s economy grew at the fastest pace in more than four years, led by a surge in farming output and tourism. Gross domestic product rose 3.7 percent in the second quarter from a year ago after expanding 3.3 percent in the first quarter, the National Economic and Social Development Board said on Monday. The median estimate of 21 economists ...

  Read More »
• 21 August

  Infosys seeks new chief ‘willing to tackle changes’

  

  Bloomberg Infosys Ltd. begins the search for a new chief executive officer this week with a tough set of requirements for any candidate: The person must be capable of leading a 200,000 employee organisation, willing to tackle sweeping changes in the outsourcing industry and brave enough to drop in the middle of open warfare between the company’s board and co-founders. ...

  Read More »
• 21 August

  Evergrande reclaims China property crown

  

  Bloomberg An unexplained share surge for developer China Evergrande Group on Monday saw the company blow past China Vanke Co. to reclaim the title of biggest Hong Kong-listed Chinese developer by market capitalisation. On a day when positive news for the industry included China Overseas Land & Investment Ltd. upgrading its sales target and Sunac China Holdings Ltd. predicting a ...

  Read More »
• 21 August

  Ten sailors missing after US warship crash near Singapore

  

  Bloomberg Ten sailors are missing and five were injured after a US warship collided with a petroleum tanker near Singapore on Monday, the second crash involving an American naval vessel in Asia in a matter of months. Search-and-rescue efforts are underway after the USS John S. McCain collided with the Alnic MC, the US Navy said. The US Seventh Fleet ...

  Read More »