Energy Update
LAUNCESTON, Australia, Dec 9 (Reuters) - - It's tempting to view the growth in China's crude oil imports this year as mainly a result of increased strategic stockpiling, but that overlooks the rising importance of refined product exports.
TOKYO, Dec 9 (Reuters) - The price of liquefied natural gas (LNG) spot cargoes arriving in November in Japan, the world's biggest buyer, fell to its lowest since the Japanese government started publishing figures last year, official data released on Wednesday showed. The average price for cargoes arriving last month fell to $7.50 per million British thermal units (mmBtu), down from $7.90 per mmBtu in October and the lowest since March last year, the trade ministry said in a release.
SYDNEY/WELLINGTON, Dec 9 (Reuters) - Australian shares erased early losses on Wednesday after energy and mining stocks recovered lost ground, though investors remained wary of volatility in the commodity world.
CHICAGO/MONTREAL/BOSTON, Dec 8 (Reuters) - Executives of Canadian Pacific Railway touted the benefits of the firm's proposed bid for U.S. railroad Norfolk Southern Corp during a call Tuesday with analysts, but made it clear they would court activist investors and shareholders to fight a proxy battle to complete the deal.
Abu Dhabi Oil Refining Company (Takreer) has awarded a contract to Jacobs Engineering Group to support the development of waste heat recovery project at the general utilities plant (GUP) at Ruwais refinery.
Shell has reached a final investment decision to build solvent deasphalter (SDA) unit at the Pernis refinery located in Rotterdam, the Netherlands.
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