Energy Update
BEIJING, Sept 20 (Reuters) - The Chinese authorities have
frozen part of commodity trader Trafigura's investment in a
Chinese copper smelter as part of a years-long probe into the
Swiss firm's oil trading, according to documents from the police
and banks reviewed by Reuters.
Venture capital investments in the energy storage sector topped $175 million in the first half of 2016, according to Mercom Capital Group, whose analysis shows that lithium-ion and sodium-based batteries received the lion's share of that money.
WASHINGTON, Sept 19 (Reuters) - The United States is
"outraged" by reports that a humanitarian aid convoy was bombed
near Aleppo, Syria, on Monday and Washington will reassess
future cooperation with Russia, a U.S. State Department
spokesman said.
LONDON, Sept 19 (Reuters) - Hedge funds scaled back some of
their short positions in crude oil futures and options after
prices failed to fall further, suggesting the market was running
out of negative momentum.
SINGAPORE, Sept 20 (Reuters) - Oil prices fell on Tuesday
after Venezuela said that global crude supplies needed to fall
by 10 percent in order to bring production down to consumption
levels, confirming analyst views that markets remain heavily
oversupplied.
French engineering firm Technip has received an engineering procurement and construction (EPC) contract from UAE's Emirates National Oil Company (Enoc) for new processing and ancillary units as part of $1bn Jebel Ali refinery expansion project.
Honeywell UOP introduced a new software-based service designed to allow refiners and petrochemical and gas processing plants to improve performance.
NEW YORK, Sept 19 (Reuters) - U.S. industrial conglomerate
General Electric Co will invest $10 billion in Argentina over
the next decade, Vice Chairman John Rice said on Monday, the
latest foreign company to announce new plans since President
Mauricio Macri took office.
Sept 19 (Reuters) - Tesla Motors Inc said on Monday
its proposed acquisition of SolarCity Corp could be
delayed because of shareholder lawsuits alleging board members
breached their fiduciary duty, the latest hurdle to a $2.6
billion deal.
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