Equinor Buys Rosebank Oilfield Stake as Chevron Shrinks in North Sea

October 1, 2018 | Reuters

OSLO (Reuters) - Norway’s Equinor (EQNR.OL) confirmed on Monday it had agreed to buy Chevron’s (CVX.N) 40 percent stake in the Rosebank oilfield west of Scotland’s Shetland islands for an undisclosed sum, as Chevron shrinks its North Sea presence.

Chevron is also looking into selling its other assets, most of which it operates, in the British North Sea.

Rosebank, one of the largest undeveloped oil and gas fields off Britain, is situated some 130 km (80 miles) northwest of the Shetland Islands and could hold more than 300 million barrels, Chevron has said.

The complex project is currently estimated to cost over $6 billion, according to consultancy WoodMackenzie.

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Asian Energy Groups Join Shell in $14bn Canada LNG Project

October 3, 2018 | Nikkei Asian Review

TOKYO -- Malaysia's Petronas will join PetroChina, Japan's Mitsubishi Corp. and Korea Gas in a $14 billion Canadian liquefied natural gas joint venture with Royal Dutch Shell, the companies said Tuesday, in a project seen helping provide Asia with stable supplies of the fuel.

The LNG Canada plant, to be located in the British Columbia municipality of Kitimat on the country's Pacific Ocean coast, will serve as Canada's first major export base for the fuel. Production is expected to start in the mid-2020s, with an annual capacity of 14 million tons -- equivalent to nearly one-fifth of import volumes in Japan, the world's biggest LNG consumer.

Shell will control a leading 40% of the joint venture, with state-run Petronas coming in second with a 25% stake. Beijing-based PetroChina and Mitsubishi will each own 15%, with Daegu-based Korea Gas taking the remaining 5%.

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Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle

October 3, 2018 | Cision

SAN FRANCISCO, Oct. 3, 2018 /PRNewswire/ -- Cruise and General Motors Co. (NYSE: GM) announced today that they have joined forces with Honda (TYO: 7267) to pursue the shared goal of transforming mobility through the large-scale deployment of autonomous vehicle technology.

Honda will work jointly with Cruise and General Motors to fund and develop a purpose-built autonomous vehicle for Cruise that can serve a wide variety of use cases and be manufactured at high volume for global deployment. In addition, Cruise, General Motors and Honda will explore global opportunities for commercial deployment of the Cruise network.

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Comcast’s Revenge: Never Sell Hulu

October 7, 2018 | WSJ

After all the bidding and counterbidding between Comcast and Disney this year, the final and most obvious deal is for Comcast to sell its 30% stake in Hulu to Disney. Such a transaction is eminently logical: Comcast could cut the debt it is taking on from its $40 billion deal for Sky, Europe’s largest pay-TV group. And Disney would get almost complete ownership of Hulu.

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Brilliance Plunges 30% After BMW Takes Over Joint Venture

October 11, 2018 | Bloomberg

Brilliance China Automotive Holdings Ltd. sank by a record after it agreed to give BMW AG control of their joint venture, diminishing the Chinese carmaker’s exposure to future growth in the world’s largest auto market.

Brilliance fell as much as 30 percent in Hong Kong trading as a slew of brokerages downgraded the automaker after BMW said Thursday it is increasing its stake in the venture to 75 percent from 50 percent. The partnership accounted for most of Brilliance’s profit last year. Shares of Brilliance were halted from trading Thursday.

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What Can Healthcare Learn from Cable? A Closer Look at The Comcast – Independence Joint Venture

October 15, 2018 | Med City News

A fireside chat at MedCity INVEST Twin Cities event between Medical Alley Association CEO and President Shaye Mandle and Gary Zimmer, chief medical advisor for Comcast Digital Health and general manager of the two companies' joint venture, 1819 LLC,  shed some light on what the hope is for the partnership's potential.

When the news broke earlier this year that cable, telecommunications and entertainment conglomerate Comcast was entering the healthcare industry through a partnership with Philadelphia-based insurer Independence Health Group initial details were scant.

While the cable company has won plaudits for its innovative approach to employee healthcare, this venture was a novel effort to launch a digital health company focused on creating a consumer-oriented platform offering educational content and telemedicine services.

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Shell Agrees to $1.9 Billion Sale Of Upstream Denmark Assetshttps://www.epmag.com/shell-agrees-19-billion-sale-upstream-denmark-assets-1719191

October 17, 2018 | E&P Mag

Royal Dutch Shell Plc (NYSE: RDS.A) said Oct. 17 it will sell upstream interests in Denmark for $1.9 billion as part of the oil major’s larger divestment program.

Shell, through its affiliate Shell Overseas Holdings Ltd., reached an agreement with Oslo-listed Norwegian Energy Co. ASA (Noreco), to sell its shares in Shell Olie-og Gasudvinding Danmark B.V. (SOGU). The sale brings Shell to virtually complete a three-year divestment plan the company started in 2015 following the acquisition of BG Group, which included divestitures in the British North Sea, Gabon, Thailand and Canada.

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Micron to Buy Intel's Stake in Joint Venture IM Flash Technologies

October 18, 2018 | Reuters

Micron Technology Inc said on Thursday it would buy Intel Corp’s non-controlling interest in their IM Flash Technologies joint venture for about $1.5 billion in cash.

Intel and Micron initially contributed about $1.2 billion each to set up IM Flash Technologies in 2006. (Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila)

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Masdar And Bee’ah To Develop UAE’s First Waste-To-Energy Facility

October 28, 2018 | Technical Review Middle East

The lenders to the project are Abu Dhabi Fund for Development (ADFD), Abu Dhabi Commercial Bank (ADCB), Siemens Financial Services, Sumitomo Mitsui Banking Corporation (SMBC) and Standard Chartered Bank (SCB).

The Sharjah Waste-to-Energy Facility is being managed by Emirates Waste to Energy Company, a joint venture formed by Masdar and Bee’ah last year, and is expected to be on stream by 2020.

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