Oil prices fell on Wednesday, pulled down by a larger-than-expected build-up in U.S. crude stocks, after gaining for three straight sessions on expectations of an easing of in U.S.-China trade tensions.
NUR-SULTAN, Nov 6 (Reuters) – Kazakhstan believes the new, increased cost of the Tengiz oilfield expansion project is too high and wants Chevron and ExxonMobil to review it, Energy Minister Kanat Bozumbayev said on Wednesday. Chevron, which leads the consortium developing one of the Central Asian nation’s biggest oilfields, said last week that cost overruns would balloon project expenses by 25% to $45.2 billion.. “Generally, we told them that in our opinion the sum is too high,” Bozumbayev told reporters when asked about Tengiz costs. …read more […]
Virgin Australia Holdings Ltd said on Wednesday it plans to cut domestic capacity by at least 2% and remove five aircraft from its fleet as it grapples with stagnant demand.
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Asian shares pulled back slightly on Wednesday as investors awaited new developments toward scaling back a bruising trade war between the United States and China.
(Bloomberg) — Tesla Inc. has reached a preliminary agreement to start using CATL as a battery supplier for cars made in China from as early as next year, and the companies are in talks to expand the relationship globally, according to people familiar with the matter.Following months of negotiations, the companies clinched a non-binding deal after Tesla Chief Executive Officer Elon Musk traveled to Shanghai in late August and met with CATL Chairman Zeng Yuqun for about 40 minutes, according to the people, who asked not to be named discussing private deliberations. Though a final agreement is expected to be …read more […]
Oil prices dropped on Wednesday after industry data showed a larger-than-expected build-up in U.S. crude stockpiles, but expectations for an easing of trade tensions between the United State and China capped losses.
The Justice Department said on Tuesday it had created a strike force that will identify and prosecute companies that fix prices or collude to push up the cost of billions of dollars’ worth of U.S. government purchases.
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Facing a weakening economy, rising global oil supplies and growing pressure from climate activists, OPEC has revised its oil demand forecasts …read more […]
Asian shares were little changed on Wednesday as investors awaited new developments toward scaling back a bruising trade war between the United States and China.
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