May, 2017

• 30 May

  Norway seeks to restrict foreign takeovers in oil sector

  

  Bloomberg Norway is seeking greater leeway to restrict foreign ownership of its offshore fields, a move seen to be potentially targeting a growing Russian interest in its resources. In recent proposed changes to industry regulations, the Norwegian government beefed up its possibility to rej-ect non-European entities on grounds of national security from acquiring offshore oil and gas licenses. “I would ...

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• 30 May

  Europe’s big utilities join blockchain energy trading trial

  Bloomberg Some of Europe’s biggest utilities joined a project to test blockchain-based trades in wholesale power and natural gas markets. Utilities from Enel SpA to RWE AG will start live trading based on blockchain in the fourth quarter, after tests that start in August, said Michael Merz, managing director at Ponton GmbH, the developer of the project. The software, called ...

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• 30 May

  Egypt procures 3mn tonnes of local wheat

  CAIRO / Reuters Egypt, the world’s largest wheat importer, has procured 3 million tonnes of wheat from local farmers since the harvest began in mid-April, the Supply Ministry said in a statement on Monday. The local procurement season runs until July and the ministry has said it is targeting between 3.5 million and 4 million tonnes of local wheat this ...

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• 30 May

  India’s ONGC posts surprise profit drop on royalties, weak gas price

  Bloomberg Oil & Natural Gas Corp.’s quarterly profits missed estimates for a gain as lower gas revenues and a jump in royalty payments outweighed the boost from higher crude prices. Net income at India’s biggest oil and gas producer fell 6.1 percent to 43.4 billion rupees ($673.6 million) in the three months ended March, the company said in a statement. ...

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• 30 May

  BHP tells investors options for US shale under review

  

  Bloomberg BHP Billiton Ltd. is assuring shareholders that it’s exploring numerous options for its contentious US shale unit amid pressure from activist investor Elliott Management Corp. to carry out a wider review of petroleum operations. In a series of meetings in Australia last week, Chief Executive Officer Andrew Mackenzie stressed to shareholders that the biggest mining company is open to ...

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• 30 May

  Noble Group seeks strategic investor to fight crisis

  

  Bloomberg Noble Group Ltd. is seeking a strategic investor to drag the beleaguered commodities trader out of what it calls an “incredibly difficult environment.” The company’s market value has shriveled by more than $1 billion this year as the Hong Kong-based firm reported a first quarter loss, S&P Global Ratings flagged a risk of default and Fitch Ratings Ltd. cut ...

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• 30 May

  Japan’s unemployment rate holds at two-decade low

  

  Bloomberg Japan’s jobless rate remained at the lowest in more than two decades last month, and retail sales rose from March, climbing for a fourth month. Highlights of Data Retail sales rose 1.4 percent from March, and were up 3.2 percent compared to April last year. The unemployment rate for April was 2.8 percent, the same as the forecast. Household ...

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• 30 May

  Adani reaches deal for $16.5 billion Australia coal mine

  Bloomberg Adani Enterprises Ltd., controlled by Indian billionaire Gautam Adani, said its Australian unit has reached an agreement on royalty payments with the Queensland government, ensuring the $16.5 billion Carmichael coal project moves forward. Shares surged. The agreement with the state government “meets Adani’s expectations and requirements,” the company said in a statement, without providing details of the accord. The ...

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• 30 May

  India’s early monsoon a boon for agriculture

  

  Bloomberg The southwest monsoon that waters about half of India’s farmland arrived in the country slightly ahead of its normal schedule, giving a boost to farmers planting rice to soybeans crops in coming weeks. Monsoon rain has reached the southern state of Kerala, K. J. Ramesh, chief of India Meteorological Department, said by phone. The June-September rainy period typically starts ...

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• 30 May

  After 4 months of Trump, old world order alive but unwell

  

  Bloomberg Four months into Donald Trump’s presidency, the sky has not fallen in on the system of global governance the US did so much to construct since World War II. It is, however, in deep trouble. Trump has not followed through on pre-election threats to declare the North Atlantic Treaty Organization obsolete, abandon the North American Free Trade Agreement, accept ...

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