March, 2017

• 28 March

  Oil advances as Libya halts pipeline from biggest field

  

    Bloomberg Oil advanced as OPEC member Libya halted the pipeline from its biggest field, tempering concerns that a surplus in the US continues to expand. West Texas Intermediate futures rose as much as 1.1 percent. Libya’s output has dropped to 560,000 barrels a day following the shutdown of the pipe from the Sharara field, according to a person with ...

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• 28 March

  Saudi Aramco valuation tops $1 trillion after tax cut

    Bloomberg Saudi Aramco could have a market value of more than $1 trillion, Sanford C. Bernstein & Co. estimates, after the government slashed the oil producer’s tax burden to attract investors ahead of what may be the world’s biggest initial public offering. The tax cut will increase Aramco’s net income by 300 percent, putting its per-barrel income in a ...

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• 28 March

  UK businesses prepare Brexit wish lists as EU talks commence

  

    Bloomberg Businesses are bracing for Brexit by making last-ditch demands of the UK government to keep their interests in mind when Prime Minister Theresa May opens two years of talks with the European Union this week. Concerns include the risk of tariffs on exports to the EU, disruptions to supply chains and the potential loss of European workers. Bloomberg ...

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• 28 March

  Trump expected to offer more coal reserves to miners

  

    Bloomberg President Donald Trump is expected to lift a moratorium on federal coal-mining leases — and it probably won’t do the industry much good until years after he’s left office. That’s because US coal companies including Peab-ody Energy Corp. won’t be looking to secure new reserves of the fossil fuel on federal land for years, especially as mining slows ...

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• 28 March

  Barrick, Goldcorp team up as miners look to share risk

  

    Bloomberg Canada’s two biggest gold miners have formed a partnership to develop a gold-copper deposit in Chile as a third producer exits the project. Vancouver-based Goldcorp Inc. agreed to buy 25 percent of the Cerro Casale in Chile’s Maricunga mineral belt from the world’s largest gold producer, Barrick Gold Corp., reducing the latter’s stake to 50 percent. Under terms ...

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• 28 March

  Pipemaker Rocca touts imports in Trump’s America

    Bloomberg President Donald Trump’s “America First” approach to energy doesn’t scare Paolo Rocca. The billionaire steel tycoon who controls Tenaris SA, the world’s largest maker of seamless-steel pipes for the energy industry, expects the creation of American jobs at his $2.3 billion plant in Texas will allow his company to continue to import certain types of pipes into the ...

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• 28 March

  Dakota Access pipeline outlasts protests

  

    Bloomberg In the end, the pipeline won. Dakota Access, which became a rallying point for tens of thousands of anti-fossil fuel and Native American-rights protesters, is preparing for service, a court filing on Monday showed. Now that the last segment built underneath Lake Oahe has been filled with oil, it’s only a matter of time before the line delivers ...

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• 28 March

  Dow-DuPont shows innovation is EU’s M&A battleground

  

    Bloomberg Dow Chemical Co. and DuPont Co.’s success at converting smart ideas in the laboratory into products used by farmers across the world was nearly their undoing when European Union regulators started poking around their proposed $77 billion merger. The bloc has been pushing to encourage investment in research and development as part of its political agenda, and EU ...

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• 28 March

  Swedish miner says Trump doesn’t hold key to metal prices

    Bloomberg The operator of some of Europe’s largest copper and zinc mines expects President Donald Trump’s plans to spend on US infrastructure to have much less impact on base-metal prices than the needs of burgeoning middle-class populations in emerging markets. That’s because projects in the US and other developed countries simply won’t use enough zinc or copper to have ...

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• 28 March

  Home prices go up in 20 US cities

    Bloomberg Home prices in 20 US cities climbed in the 12 months through January at the fastest pace since July 2014, while nationwide the increase in property values also accelerated, according to S&P CoreLogic Case-Shiller data reported on Tuesday. 20-city property values index rose 5.7 percent from January 2016 (forecast was 5.6 percent) after increasing 5.5 percent in the ...

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