Energy Update
June 16 (Reuters) - A Venezuelan businessman pleaded guilty
on Thursday to charges stemming from what the U.S. Justice
Department called a large, ongoing investigation into bribery at
Venezuela's state oil company.
June 16 (Reuters) - Suncor Energy Inc has launched
an auction of its Petro-Canada lubricants division, whose white
mineral oils are sprayed on gummy bear candy to make it shiny
and prevent sticking, people familiar with the matter said.
Just nine months after pay-as-you-go (PAYG) off-grid solar company PEG announced that it had raised $3.2 million to expand its presence in Ghana, today the company announced that it has raised an additional $4.3 million to continue that expansion.
The shipping industry is a marketplace where massive deals concerning the movement of millions of barrels of oil on behemoth ships can be made over a third pint at the local pub.
June 16 (Reuters) - Banks in Texas and parts of Louisiana
and New Mexico are setting aside more money to guard against
loan losses as the energy companies they serve struggle amid
still-low oil prices, the Dallas Federal Reserve Bank said in a
report Thursday.
SAO PAULO, June 16 (Reuters) - Brazil's tourism minister,
Henrique Eduardo Alves, resigned on Thursday, according to the
president's office, making him the third minister to leave the
month-old government of interim President Michel Temer.
VANCOUVER, June 16 (Reuters) - Canada's energy regulator on
Thursday officially launched its 21-month review of TransCanada
Corp's Energy East pipeline, which would carry crude
from Alberta's oil sands to refineries and export terminals in
Eastern Canada.
David Elward looks behind speculators' decision to target sugar, with it having offered significantly higher returns than other commodities, including crude oil and precious metals.
LONDON, June 16 (Reuters) - Top decision makers at Libya's
$67 billion sovereign wealth fund were "illiterate" in terms of
investment with little knowledge of the derivatives instruments
purchased on the advice of Goldman Sachs, an adviser to the fund
told a court on Thursday.
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