Coulson and Unical Join Forces to form Coulson Unical, a joint venture to build and operate next generation CH-47 and UH-60 helicopters

March 1, 2019 | PR Newswire

Coulson Aviation USA, a member of the Coulson Group, and Unical Air, a new unit of the Unical Group of Companies, have joined forces to create a heavy lift helicopter joint venture company that will build and operate Boeing CH-47 and Sikorsky UH-60 Blackhawk aircraft for aerial firefighting and other markets.

The joint venture will leverage Coulson's unmatched strengths in aerial firefighting and night fire suppression with Unical's industry leading supply chain, MRO, CRO capabilities to fight forest fires in the USA, Australia, and around the world.

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Amazon’s Healthcare Joint Venture Has A Name — Haven — and Website Revealing Details on Initiative

March 6, 2019 | GeekWire

The healthcare joint venture between Amazon, JPMorgan Chase and Berkshire Hathaway finally has a name, and it’s called Haven. The company also launched a website at

In addition to the new branding, the joint venture addressed a long-running question: Will Haven sell its products and services to other companies? The answer is a qualified “yes.”

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Sherritt Provides Update on Ambatovy Joint Venture

March 6, 2019 | Business Wire

Sherritt International Corporation (“Sherritt”) (TSX:S), a world leader in the mining and refining of nickel and cobalt from lateritic ores, announced that, in order to preserve liquidity and protect its balance sheet and consistent with previous disclosure, it will not fund its 12% share of a US$45 million cash call (100% basis) received from the Ambatovy Joint Venture (“Ambatovy JV”). The cash call was made due to the Ambatovy JV’s short term liquidity needs

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Rio Tinto Talking to Apple on Next Step of Carbon-Free Aluminum Project

March 8, 2019 | CNBC

Rio Tinto is in talks to move into the next phase of an agreement with Apple, Chief Executive Jean-Sebastien Jacques said on Friday, as the miner looks to transition its aluminum business to tap a low-carbon economy.

Last May, Rio and Alcoa announced a joint venture, backed by Apple, to commercialize by 2024 a process that emits oxygen and replaces all direct greenhouse gas emissions from the traditional smelting process for aluminum.

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Exxon, Chevron Planning Big Expansions in Shale Drilling, A Move Which Could Shake Up The Industry

March 12, 2019 | CNBC

Big oil is getting even bigger in shale, and that could speed up a shakeout among independents and force more mergers and joint ventures.

Last week, both Exxon Mobil and Chevron said they would boost their growth in the Permian basin substantially.

“All those companies [the majors] have demonstrated multi-decades history of delivering well on larger projects,” said Nathan Strik, energy utilities sector leader at Fidelity.

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Audi Says It Is Considering China Joint Venture Stake Increase

March 14, 2019 | Reuters

Volkswagen’s premium brand Audi is reviewing whether to raise its stake in its Chinese joint venture partner companies, the premium brand’s China chief Alexander Seitz said on Thursday.

“At the end of this year or beginning next year we will know more,” Seitz said about the review.

“We welcome the opening of the Chinese market. Any decision on how to proceed will not be taken only by ourselves - all our stakeholders will be included in the process.”

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ADNOC Repositions Itself to Challenge International Oil Majors

March 15, 2019 | The Arab Gulf States Institute in Washington

There was a time when the Abu Dhabi National Oil Company was a traditional national oil company, producing and selling oil and gas through long-term contracts and controlling all its upstream, midstream, and downstream operations. Its foreign joint venture partners were the big multinational oil companies – Shell, Total, BP, and ExxonMobil. But in recent years, the company has put in motion a rapid transformation program under a new, dynamic leadership structure.

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Shell May Lose Operatorship of One of The Most Important Oil Blocks in Nigeria

March 15, 2019 | Business Insider

The Nigerian government has asked its state-owned oil firm, Nigerian National Petroleum Corporation (NNPC) to take over Oil Mining Lease 11 operatorship from Shell Petroleum Development Company.

According to a report by THISDAY, the request was contained in a letter dated March 1, 2019, titled, ‘Operatorship of Entire Oil Mining Lease 11," directing NNPC/NPDC to take over the operatorship of entire OML 11 from Shell Petroleum Development Company not later than 30 April 2019.

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Algeria’s Political Turmoil Casts Doubt on Oil and Gas Deals

March 18, 2019 | The Wall Street Journal

A contentious political transition in Algeria is creating uncertainty around a number of foreign investment deals in Africa’s largest natural gas-producing country.

In recent weeks, Exxon Mobil Corp. has held off on signing a preliminary deal with Algeria’s state-run Sonatrach, and companies including BP PLC and Norway’s Equinor ASA have expressed concern about how Algeria’s political turmoil might affect oil and gas production.

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Joint Venture to Build Large-Scale Cryogenic Storage Systems

March 19, 2019 | Power Engineering International

A joint venture company has been formed to develop a new breed of energy storage systems.

Highview TSK is an alliance between UK storage company Highview Power and Spanish EPC firm TSK, which has built more 20 GW of conventional and renewable power generation projects in 35 countries.

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Cohesity and Softbank Announce Joint Venture to Empower Japanese Enterprises to Back Up, Store, Manage and Derive Insights From Their Data

March 20, 2019 | AP News

Cohesity Inc. (“Cohesity”), the leader of hyperconverged secondary storage and a portfolio company of SoftBank Vision Fund, and SoftBank Corp. (“SoftBank”) today announced a joint venture that ushers in modern data infrastructure in Japan, enabling Japanese enterprises to back up, store, manage and derive insights from all of their secondary data and applications through the Cohesity DataPlatform. The joint venture operates under the name Cohesity Japan KK (“Cohesity Japan”). SoftBank and SoftBank C&S Corp. will distribute and resell Cohesity solutions in Japan, along with other partners including Networld Corporation and ITOCHU Techno-Solutions Corporation. Solutions from Cohesity are available today to Japanese enterprises.

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Bank of Beijing Eyes Joint Venture With ING

March 24, 2019 | Asia Times

The Bank of Beijing announced it plans to set up a joint venture with Netherlands-based ING Bank NV with the latter holding the majority stake.

Total investment for the joint venture bank will be 3 billion yuan (US$ 448 million), in which the Dutch lender will hold 51% and the Beijing Bank will hold a 49% stake, the Securities Times reported, citing information provided by Bank of Beijing.

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A Closer Look At Schlumberger's Deal With Rockwell Automation

March 26, 2019 | Forbes

Last month, Schlumberger (NYSE:SLB) formed a joint venture with Rockwell Automation, an industrial automation company, to create an oilfield automation solutions provider called Sensia, as it looks to help oil and natural gas customers cut costs and improve efficiencies on the oilfield. The oilfield services behemoth will hold a 47% share in the company, which will be reported as a minority interest in its financial statements. Below, we take a look at what the venture could mean for Schlumberger.

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Saudi Aramco to Buy Majority Stake in Petrochemicals Producer Sabic for $69.1 Billion

March 27, 2019 | Wall Street Journal

DUBAI—Saudi Arabia’s national oil company has agreed to buy a 70% stake in Saudi Basic Industries Corp., the kingdom’s petrochemicals firm, for $69.1 billion, giving Crown Prince Mohammed bin Salman’s agenda a massive jolt of cash.

The 33-year-old crown prince has grand plans to diversify the kingdom’s oil-dependent economy. Those ambitions have been knocked off stride by foreign criticism of Saudi actions, including the murder of journalist Jamal Khashoggi. Foreign-direct investment, already in decline, remains anemic.

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