Saudi Aramco, Raytheon In Cyber Security Joint Venture

January 7, 2019 | Defense World

Saudi Aramco and Raytheon Company, through its subsidiary Raytheon Saudi Arabia, have recently signed a Memorandum of Understanding (MoU) to establish a joint venture company that will develop and cyber security services in Saudi Arabia and the region.

The JV will increase cyber security protections available to Saudi Aramco, its suppliers, customers and affiliates. It will also help build world-class cyber capabilities in Saudi Arabia and the region.

The joint venture company will market and provide integrated defensive cyber security software and hardware capabilities, and perform research and development activities.

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E.ON, Clever form electric car charging joint venture

January 8, 2019 | Reuters

FRANKFURT/DUESSELDORF (Reuters) - German energy firm E.ON (EONGn.DE) and Denmark’s Clever A/S have formed a 50-50 joint venture to install high-speed charging stations for electric vehicles, E.ON said on Tuesday, in a move to link up cities across Scandinavia.

The 48 charging sites will be installed in Denmark, Sweden and Norway and are expected to be operational next year. They will be operated by the joint venture, E.ON said, adding third-party providers would also get access.

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Saudi Arabia potentially eyeing LNG investment

January 8, 2019 | Chron

Saudi Aramco, the kingdom's oil company, apparently has a shortlist of at least four U.S. LNG projects and expects to announce a deal in the first six months of the year, sources told the Journal.

A deal would be a major milestone for the burgeoning U.S. liquefied natural gas industry and mark a major shift in energy flows between the U.S. and Saudi Arabia.

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Microsoft and Walgreens join forces to take on Amazon in health care

January 15, 2019 | CNN

New York (CNN Business) Microsoft and Amazon, the two most valuable companies in the world, are already competing for supremacy in cloud computing. Now Microsoft has its sights set on battling Amazon in the lucrative health care market as well.

Microsoft (MSFT) announced a partnership with Walgreens Boots Alliance (WBA) Tuesday. As part of the deal, Microsoft will become Walgreen's new cloud provider. The two said they will also work on solutions to lower health care costs.

Walgreens will open up 12 "digital health corners" in stores that will sell health care-related gadgets.

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BASF to partner with Adani to evaluate investment in acrylics value chain in Mundra, India

January 17, 2019 | BASF

Ludwigshafen, Germany, and Ahmedabad, India – January 17, 2019– BASF SE, headquartered in Ludwigshafen, Germany (“BASF”) and Adani Group (“Adani”) have signed a Memorandum of Understanding (MoU) on the eve of the Vibrant Gujarat Global Summit 2019, to evaluate a major joint investment in the acrylics value chain. This would be BASF’s largest investment in India to date. The designated site would be located at Mundra port in Gujarat, India. A feasibility study will be completed by the end of 2019.

According to the MoU, BASF and Adani want to establish a joint venture with an investment totaling about €2 billion (approximately INR 16,000 crore), in which BASF will hold the majority. The potential investment comprises the development, construction and operation of production plants including propane dehydrogenation (PDH), oxo C4 complex (butanols and 2-ethylhexanol), glacial acrylic acid (GAA), butyl acrylate (BA) and potentially other downstream products. The products are predominantly for the Indian market to serve a wide range of local industries, including construction, automotive and coatings, whose growing demand is currently supplied via imports, thus supporting the “Make in India” initiative.

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IBM and Vodafone create joint venture to boost multicloud connectivity

January 17, 2019 | Silicon ANGLE

IBM Corp. is teaming up with Vodafone Ltd.’s Vodafone Business subsidiary on a new joint venture.

The new company, announced today, will help joint customers that rely on IBM’s multicloud capabilities by enabling faster connectivity with Vodafone’s 5G, software-defined networking and edge technologies.

The improved connectivity they will deliver is important because it will enable faster decision-making, enhanced automation and personalized experiences for users, no matter where they’re located, the companies said. For instance, the companies said, in the past innovating on an oil rig would have been a challenge thanks to lack of connectivity and disparate information technology systems.

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French Total To Enter Saudi Downstream Business

January 21, 2019 | Oil Price

SAO PAULO, Dec 20 (Reuters) - A Brazilian judged on Thursday issued his second injunction blocking the proposed sale of 80 percent of planemaker Embraer's commercial aviation division to Boeing Co, as attempts to stop the deal intensified while the two companies neared a close on the agreement.

The same judge issued a similar injunction earlier this month that was swiftly appealed and overturned last week. The latest decision was in response to a class action filed by Embraer's union in Sao Jose dos Campos, where the planemaker is based.

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Rheinmetall, BAE Systems launch joint venture for military vehicles

January 21, 2019 | Defense News

COLOGNE, Germany, and LONDON — German tank-maker Rheinmetall plans to buy a majority stake in U.K.-based business BAE Systems, a move that could create a new industry heavyweight in the military vehicles market.

The two companies signed an agreement to create a joint business based at BAE Systems' Telford, England, facility. If government regulators approve, Rheinmetall would hold 55 percent of the new Rheinmetall BAE Systems Land, or RBSL, with the British firm keeping 45 percent.

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Spirit and Taqa lose legal fight over £68m North Sea pension deficit

January 21, 2019 | Energy Voice

The Court of Appeal has ruled Spirit and Taqa are liable for 54% – £36.9m – of the bill to meet the deficit in the programme for workers on the Brae fields.

Spirit and Taqa argued that Marathon as operator was responsible for the “runaway costs” and contested that as partners they were “not compelled” to meet them.

In 1980 Marathon entered a joint operating agreement (JOA) with Spirit, which was then Centrica, and Taqa ahead of production starting on the Brae facilities.

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Daimler-BMW Mobility Services Joint Venture To Be Named "Jurbey"

January 22, 2019 | The Drive

Daimler and BMW's new joint mobility services company will operate under the name “Jurbey” according to multiple sources familiar with joint venture plans. The two companies are expected unveil the new joint mobility services venture at the end of February. Spokespeople for the two German automakers declined to comment on the news.

The German trademark for the name “Jurbey” was registered in August by the law firm Cornelius Bartenbach Haesemann & Partner, which registered the Daimler trademark “Das Beste Oder Nichts” in 2009. 

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ArcelorMittal's Essar bid delays planned JV with SAIL: minister

January 23, 2019 | Reuters

MUMBAI (Reuters) - ArcelorMittal’s prolonged bid to buy debt-ridden Essar Steel is delaying the world’s biggest steelmaker’s joint venture with state-owned Steel Authority of India Ltd (SAIL) (SAIL.NS), India’s steel minister and SAIL’s chairman said.

India’s biggest state-owned steel company SAIL and billionaire Lakshmi Mittal-controlled ArcelorMittal signed a deal in May 2015 to set up a steel plant to produce automotive grade steel. However, no timetable has ever been set out.

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Avantium takes full ownership of Synvina

January 27, 2019 | Avantium

Avantium has retaken full ownership of its YXY plants-to-plastics technology through the purchase of BASF’s shares in the Synvina joint venture. Avantium has appointed Marcel Lubben as Managing Director of Synvina to lead the commercialization of the YXY technology, effective 1 February 2019. 

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Adnoc seals $5.8b refining and trading deal with ENI, OMV

January 28, 2019 | Khaleej Times

In a landmark deal worth $5.8 billion, the UAE's energy giant Adnoc sealed an agreement with Italy's Eni and Austria's OMV for selling 35 per cent stake in its refining business.

As per the deal, Eni and OMV will acquire a 20 per cent and a 15 per cent share respectively in Adnoc Refining, with the Abu Dhabi company owning the remaining 65 per cent. OMV will pay around $2.5 billion while Eni will pay around $3.3 billion, giving Adnoc Refining an enterprise value of $19.3 billion. The three companies also agreed to establish a joint venture trading operation.

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