Energy
Reliance Industries Makes Preliminary Approach for Bankrupt LyondellBasell Reliance Industries Ltd., owner of
the world’s largest oil-refining complex, made a cash offer
yesterday to buy a controlling stake in closely held
LyondellBasell Industries AF, the bankrupt chemicals and fuels
maker.
Valero Will Permanently Close Delaware City Refinery, Affecting 550 Jobs Valero Energy Corp., the largest
U.S. refiner, said it will permanently close its Delaware City,
Delaware, plant because of mounting losses after the recession
eroded demand for gasoline and diesel.
Crude Oil Falls a Second Day in New York as U.S. Dollar Gains Versus Euro Crude oil fell for a second day as
the dollar strengthened against the euro, reducing the appeal of
commodities to investors, and equity markets declined.
Shell in Talks to Purchase 10% Stake in Essar Oil, Economic Times Reports Royal Dutch Shell Plc is in talks to
acquire a 10 percent stake in India’s Essar Oil Ltd., the
Economic Times said, citing unidentified people.
Commodities to Attract Record $60 Billion This Year, Barclays Capital Says Commodities will likely attract a
record $60 billion this year as investors seek to diversify
their assets, Barclays Capital said.
Carlyle Group Considers Bidding With Magnum for Gas Natural's Assets Carlyle Group is considering making
a joint bid with Magnum, a buyout firm that focuses on Spain and
Portugal, for distribution assets that Gas Natural SDG SA has
put up for sale, according to a person familiar with the matter.
Russia Waives Ukraine Natural-Gas Fine, Easing Threat of Supply Reduction Russia agreed to waive fines on
Ukraine for consuming less gas than contracted and said it would
renegotiate volumes for next year, easing a threat to shipments
of the fuel to Europe.
Cloud Peak Shares Fall After Reduction in IPO Price by Rio Tinto Coal Unit Rio Tinto Group’s Cloud Peak Energy
Inc. coal unit cut the price for its $459 million initial public
offering as buyers extracted concessions from underwriters for
two IPOs and rejected another company’s offering this week.
Qatar Petroleum Sells Nine Cargoes of Al-Shaheen Crude for January Loading Qatar Petroleum, the country’s
state-owned oil producer, sold Al-Shaheen crude for loading in
January to SK Energy Co., Exxon Mobil Corp., Chevron Corp.,
Reliance Petroleum Ltd. and ConocoPhillips, said three traders
who submitted offers for the cargoes.
Crude May Decline to About $60 Next Quarter on Weak Demand, Macquarie Says Crude oil prices may fall to about
$60 a barrel in this and next quarter on weak demand from
developed countries and growing inventories, Macquarie’s oil
economist Jan Stuart said today.
Beijing to Increase Use of Solar, Wind, Nuclear Power and Electric Cars Beijing plans to build a 70 megawatt
solar power plant and a 50 megawatt biomass power plant as part
of the city’s focus on expanding the use of alternative energy,
the capital’s Development and Reform Commission said today.
Brazil to Invest $6 billion in Mozambique Biofuels Industry, O Pais Says Mozambique has signed two accords
with Brazil for a $6 billion investment in biofuel exploration,
the daily independent O Pais reported, citing António de Godoy,
chairperson of the Brazilian confederation of biofuel companies
Arranjo Produtivo Local do Alcool (APLA).
Kidney Stones, Malaria, Lyme Disease Linked to Changing Climate in Study Kidney stones, malaria, Lyme
disease, depression and respiratory illness all may increase
with global warming, researchers at Harvard Medical School said.
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