Energy Update
MOSCOW, Aug 4 (Reuters) - Russian coal and steel producer
Mechel raised supplies of its coking coal concentrate
to China in the second quarter and started sales to India and
Vietnam, it said on Thursday.
Aug 4 (Reuters) - British outsourcing firm Serco Group Plc
raised its 2016 profit forecast for the second time this
year and also said Britain's vote to leave the European Union
could bring opportunities as well as costs.
WARSAW, Aug 4 (Reuters) - Australian fund management firm
IFM and its unit Veolia Energia Polska have submitted the
highest offer to buy Polish heating assets from France's EDF
, the Puls Biznesu daily said, quoting unidentified
sources.
Aug 4 (Reuters) - RPS Group Plc, an infrastructure
and resources consultant, said it expected to move back into the
black for the year, boosted by better performance in its energy
business due to cost-cutting initiatives and lower
reorganisation costs.
AMSTERDAM, Aug 4 (Reuters) - Marine engineer Fugro
announced a further 600 job cuts and the sale of one
of its business units as it battles to cut costs in response to
weak oil and gas prices.
AMSTERDAM, Aug 4 (Reuters) - Marine engineer Fugro
on Thursday reported a sharp fall in core earnings in
the first half that missed analysts' expectations, hit by the
rout in the oil and gas market.
LONDON, Aug 4 (Reuters) - British Prime Minister Theresa May
will tell small business owners on Thursday that she wants to
help them take advantage of the opportunities provided by
Britain's vote to leave the European Union.
By Aparajita Saxena
Aug 4 (Reuters) - Southeast Asian stocks rose on Thursday,
with energy shares leading gains in five of the six markets, as
global crude prices continued their uptrend and investors
counted on the Bank of England to cut interest rates to a record
low.
Oil prices rose more than 3 percent in the previous session
after a larger-than-expected gasoline draw eased concerns about
global supply glut.
The winds of change are blowing in the global steel market, as heightened volatility and macroeconomic factors increasingly affect the supply chain.
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