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April 13, 2021

Oil & Gas Refining and Marketing (NEC) (TRBC level 5)

Korean battery firms set to announce deal to resolve U.S. trade dispute – sources

Reuters
FILE PHOTO: The logo of LG Chem is seen at its office building in Seoul, South Korea, October 16, 2020. REUTERS/Kim Hong-Ji/File Photo/File Photo/File Photo/File Photo WASHINGTON (Reuters) – Korean battery makers LG Chem and rival SK Innovation Co are expected to announce a settlement on Saturday in a trade......

Korean battery firms set to announce deal to resolve U.S. trade dispute – sources

Reuters
FILE PHOTO: The logo of LG Chem is seen at its office building in Seoul, South Korea, October 16, 2020. REUTERS/Kim Hong-Ji/File Photo/File Photo/File Photo/File Photo WASHINGTON (Reuters) – Korean battery makers LG Chem and rival SK Innovation Co are expected to announce a settlement on Saturday in a trade......

South Korea’s SK Group buys 16.3% stake in Vietnam’s VinCommerce for $410 million

Reuters
FILE PHOTO: The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji/File Photo SEOUL (Reuters) – South Korea’s third-largest conglomerate, SK Group, said on Tuesday it has agreed to acquire a 16.3% stake in Vietnam’s VinCommerce, a retail affiliate......

Power play – India wields oil ‘weapon’ to cut dependence on Saudi

Reuters
NEW DELHI (Reuters) – When India’s government last month asked refiners to speed up diversification and reduce dependence on the Middle East – days after OPEC+ said it would maintain production cuts – it sent a message about its clout and foreshadowed changes to the world’s energy maps. FILE PHOTO:......

Oil companies defeat New York City appeal over global warming

Reuters
FILE PHOTO: Ice lines the shoreline of the Hudson River as the New York City skyline is seen from Jersey City, New Jersey January 10, 2014. REUTERS/Brendan McDermid /File Photo NEW YORK (Reuters) -A federal appeals court on Thursday rejected New York City’s effort to hold five major oil companies......

Exxon Mobil signals better first-quarter earnings as oil prices climb

Reuters
FILE PHOTO: An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. REUTERS/Jim Young/File Photo (Reuters) – Exxon Mobil Corp expects rising first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil......

U.S. gasoline demand exceeds 2020 levels for first time in 2021: OPIS

Reuters
FILE PHOTO: Taxis are seen at a gas station in New York, U.S., March 14, 2020. REUTERS/Eduardo Munoz/File Photo NEW YORK (Reuters) – U.S. gasoline sales for 2021 have exceeded prior-year levels for the first time since last March, when officials first started to widely impose coronavirus lockdowns, according to......

China’s Sinopec raises 2021 capital expenditure by 23.8%

Reuters
BEIJING (Reuters) – China Petroleum & Chemical Corp, better known as Sinopec, plans a 23.8% increase in capital spending to 167.2 billion yuan in 2021 following recovery of oil prices and energy demand as the COVID-19 epidemic subsided. Sinopec expects to spend 66.8 billion yuan on upstream exploration focusing on......

Chevron eyes deal for Shell oil refinery in Pacific Northwest: sources

Reuters
FILE PHOTO: A Chevron gas station sign is shown in Cardiff, California, in this January 25, 2016 file photo. REUTERS/Mike Blake/Files/File Photo HOUSTON (Reuters) – Chevron Corp has emerged as a leading contender to buy a Royal Dutch Shell Plc refinery in the U.S. Pacific Northwest, three people familiar with......

Chevron eyes deal for Shell oil refinery in Pacific Northwest: sources

Reuters
FILE PHOTO: A Chevron gas station sign is shown in Cardiff, California, in this January 25, 2016 file photo. REUTERS/Mike Blake/Files/File Photo HOUSTON (Reuters) – Chevron Corp has emerged as a leading contender to buy a Royal Dutch Shell Plc refinery in the U.S. Pacific Northwest, three people familiar with......

US STOCKS-Futures rise ahead of March business surveys; Intel shines

Reuters
By Devik Jain, Medha Singh (For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * Futures up: Dow 0.30%, S&P 0.36%, Nasdaq 0.77% March 24 (Reuters) – U.S. stock index futures rose on Wednesday as Intel’s shares surged......

Saudi Aramco to cut capital expenditure, reports 44.4% drop in profit for 2020

Reuters
By Hadeel Al Sayegh, Saeed Azhar FILE PHOTO: An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo DUBAI (Reuters) – Saudi Arabian state oil giant Aramco said on Sunday it expects to cut capital expenditure......

Wall Street Week Ahead: Energy shares look for next spark as investors eye recovering economy

Reuters
NEW YORK (Reuters) – Investors betting on U.S. energy shares have enjoyed a blistering rally, as the sector leads a move into value and economically sensitive stocks that has gripped the equity market. How much further that run continues could hinge on the success of the economic recovery, supply dynamics......

Repsol makes first delivery of carbon-compensated LNG

Reuters
FILE PHOTO: A Repsol logo at a petrol station in Bormujos near the Andalusian capital of Seville, southern Spain March 3, 2016. REUTERS/Marcelo del Pozo MADRID (Reuters) – Repsol for the first time has used carbon offset credits to compensate for emissions from liquefied natural gas (LNG) a customer will......

Myanmar fuel imports plunge in Feb as protests disrupt trade – sources

Reuters
By Poppy McPherson, Florence Tan * Feb fuel imports fall to 287,000T, lowest since Aug 2017 -data * Domestic gasoline, diesel prices soar 36%-37% since end-Jan * Suppliers no longer accepting letters of credit -sources * Switch to telegraphic transfers for payment -sources March 10 (Reuters) – Myanmar’s fuel importers......

Ford rejects U.S. ITC criticism over SK Innovation battery deals

Reuters
WASHINGTON (Reuters) – Ford Motor Co on Friday dismissed criticism from the U.S. International Trade Commission over its decision to pursue battery contracts with SK Innovation. The ITC said Ford pursued new contracts after evidence had emerged the South Korean electric vehicle (EV) battery maker misappropriated trade secrets from cross-town......

Chevron to buy out Noble Midstream in $1.32 billion deal

Reuters
(Reuters) – Chevron Corp said on Friday it would buy the shares of pipeline operator Noble Midstream Partners LP, which it does not already own, in an all-stock deal valuing the company at $1.32 billion, a month after the U.S. oil major made a slightly smaller takeover offer. Under the......

California startup touts battery-swapping to juice demand for electric vehicles

Reuters
(Reuters) – Ample, a seven-year-old San Francisco startup, wants to skirt one of the big hurdles to widespread adoption of electric vehicles by reviving the idea of quick, automated battery swaps for owners concerned about running out of juice while driving. The main benefits, according to co-founders Khaled Hassounah and......

Exxon commits to dividend growth, debt reduction ahead of investor day

Reuters
FILE PHOTO: FILE PHOTO: An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. REUTERS/Jim Young/File Photo (Reuters) – Exxon Mobil Corp said on Wednesday it will grow its dividend and cut debt through 2025, ahead of a closely watched......

ExxonMobil to cut 7% of its workforce in Singapore

Reuters
FILE PHOTO: Logos of ExxonMobil are seen in its booth at Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai (Reuters) – Exxon Mobil said on Tuesday it will cut about 7% of its workforce at its Singapore affiliate as “unprecedented market......

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