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GE shakes up its power unit

General Electric Co shook up its ailing power business again, naming a CEO for its new gas-power division and bringing a veteran GE executive back from retirement to help.The changes mark another step in new GE chief executive officer Larry Culp’s urgent effort to reduce heavy debt and restore profits at the 126-year-old, Boston-based conglomerate.It also highlights the problems at GE Power. Culp reorganised the division three weeks ago, separating its gas-turbine business from units that make...

Chevron granted RFS waiver

The US Environmental Protection Agency granted oil major Chevron Corp a 2017 hardship waiver from US...

Canada oil spill caused by weak connection

A weak connector on an underwater oil flowline caused a spill during a fierce Atlantic storm last...

Canada mulls rail car buy

Canada’s federal government is considering a proposal from its main oil producing province of...

Cimarex to buy Resolute

Oil and gas producer Cimarex Energy Co agreed to buy smaller rival Resolute Energy Corp for $1.6...

EPA proposes biofuel ‘reset’

The US Environmental Protection Agency will propose new targets for the final three years of the...

US drillers cut oil rigs

US energy firms this week cut oil rigs for the first time in the three weeks as crude prices have...

Noble Group hit by probe

Singapore authorities are investigating Noble Group Ltd for suspected false and misleading...



Sabic to integrate agri-nutrient assets

Sabic, the world’s fourth-largest petrochemical company, announced its decision to establish a new company called ‘Sabic Agri-nutrient Investments’, to consolidate all its equity shares and assets currently held in several companies specialised in the production of various agri-nutrient products.The decision includes Sabic’s share of assets in Al-Bayroni (Jubail Fertiliser Company) – 50 per cent; Ibn Al-Baytar (National Chemical Fertiliser Company) – 50 per cent; GPIC (Gulf Petrochemical...

In Brief

Aramco says all funding options open...




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