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Chemicals & Energy: Page 54

European Gas Advances as Market Focuses on Outages, Hot July

"Temperatures above the norm across Europe could potentially increase energy demand for cooling purposes,” said Energi Danmark in a note.

Photo: Oliver Bunic/Bloomberg

U.S.-U.K. Minerals Agreement May Boost U.K. Exports, S&P Says

Lithium carbonates and hydroxides lead the U.K.’s exports of the five minerals, but face considerable competitive challenges.

Photo: iStock.com/HT Ganzo

Japan Unveils $6bn Deal to Buy Out Chip Linchpin JSR

Government-backed Japan Investment Corp. plans to offer shareholders ¥4,350 ($30.40) a share in a tender offer around December 2023, the company said in a June 26 statement.

Kawasaki, Japan. June 2023. Photo: Bloomberg

Ford Battery Plants on Track to Receive $9.2bn Federal Loan

The money will be awarded via the Advanced Technology Vehicles Manufacturing Loan Program to BlueOval SK, a new joint business venture established by Ford and SK On.

Photo: iStock.com/gopixa

Biden Energy Subsidies Risk Distorting Critical Metals Market, UK Minister Warns

The Inflation Reduction Act has been a "huge challenge,” according to U.K. Business Minister Nusrat Ghani who said that the lure of the U.S. "distorts the market.”

Brazil. June 2023. Photo: Bloomberg

Austria Sees Need to Curb Russian Gas Reliance as Supply Risks Exposed

“It’s clear that we’re not far or fast enough down the path to eliminate Russian gas,” said Energy Minister Leonore Gewessler during a June 26 press briefing.

Leuna, Germany. January 2007. Photo: Katja Buchholz/Getty Images/Bloomberg

Biden-Harris Administration Shares Plans to Strengthen U.S. Semiconductor Sector

The Department of Commerce plans on distributing over $50 billion in funds to semiconductor projects in the U.S., including $39 billion for semiconductor manufacturing incentives.

Photo: iStock/kynny

Eni Increases Gas Reach with $4.9bn Neptune Deal

The deal’s enterprise value is reportedly split into $2.28 billion for Neptune’s Norwegian assets, which go to Var Energi, and $2.6 billion for the rest.

Photo: Thor Oliversen/Bloomberg

Nigeria’s Oil Goes Unsold as Tax Clawback Shakes Confidence

Traders said Nigeria's surplus was caused by a request for back taxes from shipping companies, which created wariness among firms looking to collect oil barrels from the country.

Warrington, U.K. March 2017. Photo: Bloomberg

Global Chip Race Touches Off Spending Spree, Led by Intel’s $50-Billion Campaign

Combined, the U.S., EU, Japan and India have committed more than $100 billion in subsidies to attract the likes of Intel, Taiwan Semiconductor Manufacturing and Micron.

Newport, U.K. August 2022. Photo: Bloomberg

Hyundai Raises 2030 Electric-Vehicle Sales Goal to 2M

Hyundai also plans to spend about $85 billion to boost production and make progress in areas such as hydrogen cars, EV batteries and software for future mobility.

Photo: Bloomberg

Saudi Arabia’s PIF Leads Bidding for $2.5bn Vale Base Metals Stake

Saudi Arabia's Public Investment Fund is reportedly in advanced discussions over a deal for a roughly 10% holding in Vale SA's base metals unit.

South Sulawesi, Indonesia. June 2022. Photo: Bloomberg

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