Energy Update
DUBAI, Dec 13 (Reuters) - Kuwait Petroleum Corporation (KPC)
said on Tuesday it had officially notified its customers of a
cut in their contractual crude oil supplies for January, in line
with a deal with OPEC to reduce production.
COPENHAGEN, Dec 13 (Reuters) - The acquisition of German
shipping company Hamburg Süd will replace some 60 percent of
revenue lost when A.P. Moller-Maersk spins off its
energy division, the head of the Danish company said on Tuesday.
LONDON, Dec 13 (Reuters) - Anglo American said on
Tuesday demand at its latest De Beers diamond sale showed a
slowdown in response to India's withdrawal of high-value
banknotes, but was still higher than a year ago when commodity
trade was slumping.
Dec 13 (Reuters) - Event organiser UBM Plc said it
would buy Asian exhibitions company Allworld for $485 million in
cash, strengthening its position in Asia and providing an entry
into the Middle East.
BEIJING/HOUSTON, Dec 13 (Reuters) - China's Guangdong
Zhenrong Energy Co will submit a plan by April to revamp a
century-old oil refinery in Curacao, as it seeks to secure a
$5.5 billion project that will give China a foothold in the
Caribbean's second-largest oil refinery.
LONDON, Dec 13 (Reuters) - British construction company
Balfour Beatty said it was on track to deliver cost
saving targets in line with a long-term turnaround plan, adding
that it was confident that margins would recover over the next
two years.
BEIJING, Dec 13 (Reuters) - Beijing's environmental watchdog
is considering a ban on the use of trucks to transport coal and
closing coal storage facilities in Tianjin, one of China's
busiest ports, a researcher with the agency said, in what would
be a drastic move to tackle smog.
Oil prices are expected to rise after the OPEC deal and there is upside potential for production and IRRs, particularly in premier US basins.
WASHINGTON, Dec 13 (Reuters) - President-elect Donald Trump
will announce Exxon-Mobil Corp's Rex Tillerson as his choice for
secretary of state on Tuesday, a senior transition official
said, confident that the oil executive can get past questions
about his ties to Russia.
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