Energy Update
DUBAI, Dec 12 (Reuters) - Dubai's government said on Monday
it had agreed to invest $33.5 million in the pilot projects and
prototypes of 19 companies as part of a new drive to develop its
technology sector.
KAMPALA, Dec 12 (Reuters) - Uganda on Monday started up its
first grid-connected, 10 megawatt solar power plant as the east
African country moves to tap its renewable energy resources and
expand its electricity generation capacity.
BEIJING, Dec 12 (Reuters) - China's Sinopec
has sold a 50 percent stake in its Sichuan-East China
gas pipeline to China Life Insurance and SDIC's transportation
business in a deal that values the asset at 45.6 billion yuan
($6.6 billion).
LAUNCESTON, Australia, Dec 12 (Reuters) - The global crude
oil market is starting to resemble a gigantic game of chess,
with a bold opening gambit by OPEC and its allies giving them an
advantage, but the game is still far from checkmate.
BEIJING, Dec 12 (Reuters) - China's Sinopec
said on Monday it had sold a 50-percent stake in its
key Sichuan-East China gas pipeline to China Life Insurance and
SDIC's transportation unit for 22.8 billion yuan ($3.3 billion).
LONDON, Dec 12 (Reuters) - Sovereign investors are set to
pull their petrodollars from global stock and bond markets for
the third year running in 2016, a process that is unlikely to be
reversed next year despite the rebound in oil prices.
MOSCOW, Dec 12 (Reuters) - The Kremlin on Monday praised Rex
Tillerson, front-runner to be U.S. President-elect Donald
Trump's pick for Secretary of State, as highly professional.
MOSCOW Dec 12 (Reuters) - Rex Tillerson, the ExxonMobil
chief executive who is front-runner to be President-elect Donald
Trump's pick for Secretary of State, is highly professional and
is known personally to Russian President Vladimir Putin, a
Kremlin spokesman said on Monday.
MILAN, Dec 12 (Reuters) - Italian energy company Eni
has agreed to sell a 30 percent stake in a giant
Egyptian offshore gas field to Russia's Rosneft for
$1.575 billion, pressing ahead with asset sales to fund
investment amid weak oil prices.
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