Energy Update
MUMBAI/TORONTO April 8 (Reuters) - Fairfax India Holdings said on Friday it has agreed to acquire a minority stake in privately held Indian petrochemical company Sanmar Chemicals via a roughly $300 million investment.
April 8 (Reuters) - U.S. energy firms cut oil rigs for a third week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc said Friday, as energy firms keep slashing spending despite a roughly 50 percent jump in crude futures since hitting a near 13-year low in February. Drillers cut 8 oil rigs in the week to April 8, bringing the total rig count down to 354, Baker Hughes said in its closely followed report. The number of U.S.
Papua New Guinea recently became the first country to formally submit the final version of its national climate action plan (called a “Nationally Determined Contribution,” or NDC) under the Paris Agreement. The small Pacific nation’s plan to transition to 100 percent renewable energy by 2030 is no longer just an “intended” nationally determined contribution (INDC) — it is now the country’s official climate plan.
* Italian banks surge on likely state support (ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). Adds closing prices)
Baltic neighbors Estonia, Lithuania and Latvia share a lot in common, including the Baltic Sea, but the differences in their development of offshore wind power are stark.
Platts editors discuss the problems facing the Tata Steel Port Talbot plant and UK steelmaking in general, with Chinese HRC into the country falling and steel prices on the rise.
* Italian banks surge on likely state support (ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). Updates prices)
A group of eight banks and investors pledged $7 billion to join Bank of America Corp.’s initiative that plans to raise at least $10 billion for investments in clean energy and sustainable development.
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