Energy Update
BEIJING, May 30 (Reuters) - A group of Chinese companies
plans to build new pipeline and storage facilities in eastern
Shandong province, the hub for the country's independent
refineries, providing much-needed infrastructure as crude oil
imports into the region surge.
SYDNEY/WELLINGTON, May 30 (Reuters) - Australian shares held
near nine-month peaks on Monday, as a rebound in oil prices
offset weakness in the mining sector, while New Zealand stocks
scaled a record high, putting both indices on track for a 3
percent monthly gain.
TORONTO, May 29 (Reuters) - Suncor Energy Inc's
facilities north of Fort McMurray, Alberta, are expected to
partially restart by the end of the week, the company said on
Sunday, the latest sign Canadian oil sands producers are coming
back online after a massive wildfire.
DUBAI, May 29 (Reuters) - Shares in Kuwaiti companies linked
with the al-Kharafi family tumbled on Sunday after the
multi-billion-dollar sale of another Kharafi-controlled business
was scrapped, while other markets were mixed in thin trade.
DUBAI, May 29 (Reuters) - Kuwait National Petroleum Company
(KNPC) is in final stages of talks with international
institutions for $6.4 billion in the second tranche of loans to
finance its multi-billion dollar Clean Fuels project, state news
agency KUNA reported on Sunday.
MOSCOW, May 29 (Reuters) - Russian Energy Minister Alexander
Novak believes that it is too early to write off OPEC despite
internal differences within the group, he said on the ministry's
Twitter feed, days before the organisation meets to discuss its
production policy.
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