China’s state-owned utility China Three Gorges on Friday launched a bid to take control of Portugal’s biggest company EDP, offering a premium of just below 5 percent on the power firm’s closing stock price.
The Brazilian government expects to rake in 6.8 billion reais ($1.89 billion) through the so-called fifth round of bidding for stakes in the country’s choice pre-salt offshore oil play, the government said on Friday.
Abu Dhabi National Oil Co (ADNOC) will supply the first oil cargo for India’s strategic petroleum reserve (SPR) over the weekend, an Indian government statement said, becoming the first foreign company to lease storage in the country.
A 40-year-old vegetable vendor, who erroneously received a massive electricity bill of Rs 8.64 lakh for April, allegedly committed suicide by hanging himself from the ceiling at his residence at Bharat Nagar here on Thursday morning.
How do you see sanctions against Iran impacting Indian refiners? It’s early days and the full import of the sanctions would be clearer only with time. We will have to look at the nature of the sanctions, its modalities and the way it’s implemented.
China is positioned to be a chief beneficiary of the U.S. decision to withdraw from the Iran nuclear deal as it would give China leverage to demand oil imports be priced in yuan, several currency experts said on Thursday.
France’s foreign minister on Thursday condemned the United States for reimposing sanctions against foreign companies trading with Iran, labelling the move “unacceptable” in comments that expose the deepening rift between Washington and its European allies on the issue.
OPEC is in no hurry to decide whether to pump more oil to make up for an expected drop in exports from Iran after the imposition of new U.S. sanctions, four sources familiar with the issue said, saying any loss in supply would take time.
The US plans to impose new sanctions against Iran, which produces about 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 that curbed Tehran’s nuclear activities in exchange for removal of U.S. and European sanctions.
US President Donald Trump’s decision on Tuesday to pull out of the Iran nuclear deal can increase pressure on government finances through a higher subsidy bill and pinch consumers by keeping oil on the boil ahead of next year’s general election.