Economics
Canada allows Dow, Dupont merger after firms agree to sell assets
OTTAWA (Reuters) — Canada's Competition Bureau said on Tuesday it would allow a planned merger between DuPont and Dow Chemical Co after both firms agreed to dispose of some assets.
Oil holds above November lows but under threat from US supply
LONDON (Reuters) — Oil edged up for a third straight session on Monday, climbing off last week's seven-month lows but with gains capped by the relentless rise in US supply and bloated global inventories.
Portugal investigating fraud linked to Venezuela PDVSA funds
CARACAS (Reuters) — Portugal is investigating alleged appropriation of funds belonging to Venezuelan state oil company PDVSA that were channeled through now-defunct Portuguese bank Banco Espirito Santo between 2009 and 2014, PDVSA said on Saturday.
Tanker firm Frontline drops DHT pursuit and steers away from deals
OSLO (Reuters) — Oslo-listed oil tanker firm Frontline has abandoned its pursuit of New York-listed rival DHT Holdings and is not working on any alternative acquisitions, Frontline's CEO told Reuters on Monday.
Petrobras revives plan for IPO of fuel distribution unit
SAO PAULO (Reuters) — Petróleo Brasileiro SA is reviving an initial public offering of fuel distribution unit BR Distribuidora to cut the Brazilian state-controlled oil company's debt and investment in low-return activities, Chief Executive Officer Pedro Parente said on Thursday.
Shareholders approve all-share offer by Wood Group for Amec Foster Wheeler
Shareholders of Wood Group and Amec Foster Wheeler overwhelmingly approved Wood Group’s recommended all-share offer for Amec Foster Wheeler. The deal remains subject to relevant clearances from competition authorities in certain countries where both companies operate. It is expected that the transaction will complete in the fourth quarter of 2017.
IEA: Oil supply growth to outpace rise in consumption in 2018
LONDON (Reuters) — Growth in oil supply next year is expected to outpace an anticipated pick-up in demand that will push global consumption above 100 MMbpd for the first time, the International Energy Agency said on Wednesday.
Mexico's Pemex fined $20 MM for anti-competitive fuel practices
MEXICO CITY (Reuters) — Mexico's antitrust watchdog has fined a division of state-owned oil company Pemex for failing to establish a competitive fuel market, the agency said on Monday.
GE wins US antitrust approval for Baker Hughes deal
WASHINGTON (Reuters) — General Electric Co won US antitrust approval to merge its oil and gas business with Baker Hughes Inc to form a new publicly traded company, the Justice Department said on Monday.
Crude oil, fuel shipping costs from Qatar set to rise on port ban
SINGAPORE (Reuters) — The costs to ship fuel and crude oil from Qatar are expected to rise after the United Arab Emirates banned vessels that previously called at Qatar from docking at UAE ports, multiple sources from the oil and shipping sectors said on Monday.
- Indonesia allocates 15.65 MM kiloliters of biodiesel for 2026 12/23
- Egypt, Qatar's Al Mana Holding sign $200-MM SAF deal 12/23
- China's teapots boost Russian ESPO buying amid record discounts 12/23
- Bahrain's BAPCO sends first diesel cargo to Australia in 2.5 yrs 12/23
- Asia oil floating storage seen declining on lower exports, China buying 12/23
- Gazprom in talks with Hungary's MOL over NIS stake sale 12/23
