Nigeria's Qua Iboe Crude Oil Output at Risk Due To Blockade: Exxonmobil

September 3, 2018 | S&P Global Platts 

Lagos — ExxonMobil's Nigerian oil producing unit says crude production and exports from its assets in southern Nigerian have come under threat following an over six-week blockade by former employees protesting their dismissal.

The continued blockade means a loss of access for employees [and contractors]. Continued denial of access to production facilities could impact the company's ability to safely continue production operations," ExxonMobil said in a statement Sunday.

ExxonMobil, which exports over 300,000 b/d of crude from the Qua Iboe terminal, said the aggrieved workers, who were ex-security personnel engaged by the US oil firm along with 508 workers were dismissed in July, had been blockading the company's offices and facilities since July 13.

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Egypt To Pay $2BN in Gas Deal Dispute

September 5, 2018 | MEMO

The International Centre for Settlement of Investment Disputes, the World Bank’s arbitration body, has fined Egypt $2 billion for failing to fulfill an agreement of supplying natural gas to an Italian-Spanish company during the Arab Spring, BBC reported today.

In 2014, Unión Fenosa Gas (UFG), a joint venture between Spain’s Naturgy and Italy’s Eni, filed a lawsuit against Egypt after it had stopped supplying gas to the union’s Liquefied Natural Gas (LNG) plant in the country’s province of Damietta.

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Yahsat and Hughes to Form Joint Venture to Deliver Satellite Broadband Services

September 10, 2018 | Cision

PARIS, Sept. 10, 2018 /PRNewswire/ -- Yahsat, a leading global satellite operator based in the United Arab Emirates (UAE) and wholly owned by Mubadala Investment Company, and Hughes Network Systems (HUGHES), a subsidiary of EchoStar Corporation (NASDAQ: SATS), today announced an agreement to enter into a joint venture to provide commercial Ka-band satellite broadband services across Africa, the Middle East and southwest Asia. This new venture combines Hughes deep expertise as the global leader in broadband satellite networks and services with Yahsat's unique position and knowledge as the leader in satellite broadband solutions across these regions. Hughes will purchase a minority interest in the venture.

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Alibaba Takes Joint Venture Route to Russia Expansion

September 11, 2018 | Reuters

VLADIVOSTOK, Russia (Reuters) - China’s largest e-commerce firm, Alibaba Group Holding Ltd has joined forces with a state fund and two technology firms in Russia, hoping that access to their client base of more than 100 million people will boost its development.

Alibaba will own 48 percent of AliExpress Russia as a result of a deal signed with Russian Direct Investment Fund, mobile operator Megafon and internet group during Russia’s Eastern Economic Forum on Tuesday.

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Hudson's Bay, Signa Form European Retail, Real Estate Joint Venture

September 11, 2018 | Reuters

BERLIN (Reuters) - Hudson’s Bay Co (HBC) (HBC.TO) and Signa Holding agreed on Tuesday to merge Germany’s Galeria Kaufhof and Karstadt chains to form Europe’s third-biggest department store chain as they battle online rivals, sending HBC shares surging.

The combined group will have annual sales of around 5.4 billion euros ($6.3 billion), putting it behind Spain’s El Corte Ingles and Britain’s Marks and Spencer (MKS.L), market research provider Euromonitor International data shows.

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Williams and Unipart Launch Vehicle Battery Joint Venture

September 11, 2018 | Market Insider

The UK's largest independent vehicle battery manufacturer will open in early 2019 in Coventry, creating around ninety new jobs, at a new, multi-million pound, high-tech facility that will produce batteries for future hybrid and electric vehicles.

The factory will be operated by a new joint venture, also unveiled today and named Hyperbat Limited (Hyperbat), combining the strengths of two of the UK's leading companies, Williams Advanced Engineering and Unipart Manufacturing Group. The move has been welcomed by the Secretary of State for Business, Energy and Industrial Strategy as a significant step forward in the UK's contribution to reducing carbon emissions.

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Clariant Wins Back Investors With Saudi Deal

September 18, 2018 | Wall Street Journal

Saudi Arabia’s chemicals group Sabic and Clariant of Switzerland wasted no time in finding mutual benefits to their tie-up.

The Saudi group got the regulatory green light to buy a 24.99% stake in Clariant this month for about Swiss francs 2.4 billion ($2.5 billion). Now the two companies are creating a joint venture in plastics and specialty chemicals that are part of Clariant’s effort to boost margins after a failed merger effort last year.

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UPDATE 1-Thyssenkrupp To Keep on Implementing Steel JV With Tata-CEO

September 20, 2018 | Reuters

DUISBURG, Germany, Sept 20 (Reuters) - Thyssenkrupp’s interim chief executive dismissed speculation that it would pull out of its steel joint venture with India’s Tata Steel in the wake of management upheaval at the German industrial conglomerate.

Last week, media reports said the implementation of the landmark deal, signed in late June, was stalling over the sudden departure of Thyssenkrupp’s CEO Heinrich Hiesinger, the main architect of the transaction.

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Barrick And Shandong Gold Strengthen Partnership with New Mutual Investment Agreement

September 25, 2018 | Global Mining Review

Canadian gold mining company Barrick Gold Corporation (Barrick) has entered into a mutual investment agreement with Chinese gold mining company Shandong Gold Group Co., Ltd. (Shandong Gold). Already 50-50 joint venture (JV) partners at the Veladero mine in Argentina, this partnership will further strengthen their connection.

Under the agreement, Shandong Gold is to purchase up to CAN$300 million of Barrick shares, and Barrick will invest an equivalent amount in shares of Shandong Gold Mining Co., a publicly listed company controlled by Shandong Gold. Shares will be purchased in the open market.

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Total, Partners Authorize $1B Bayport Plastics Expansion

September 25, 2018 | MRT

The French energy major Total and its partners said they will soon start construction on a new plastics plant at Total's Bayport campus near Pasadena, a project estimated to create more than 1,700 construction-related jobs.

The $1 billion project involves building a new plant to annually produce 625,000 metric tons - more than 1.3 billion pounds - of polyethylene, which is the world's most common plastic.

Total owns 50 percent of its new Bayport Polymers joint venture with its partners Nova Chemicals of Calgary, Alberta and Borealis of Vienna.

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NOAC JV Trains Contractors on Capacity Building, Government Regulations

September 26, 2018 | The Guardian

As part of efforts to to develop the capacity of Nigeria-owned companies and contractors to activately participate in the oil and gas industry, the Nigeria Agip Oil Company (NAOC) and its Joint Venture partners on Monday, commenced capacity training for indigenous contractors in the Niger Delta.

The two-day program which commenced on Monday was part of the oil giant’s capacity building program to stir its contractors from the dangers of flouting government regulations and non-adherence to extant laws.

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Shell Poised for LNG Canada Decision With Signs Pointing to Yes

September 26, 2018 | Bloomberg

Royal Dutch Shell Plc and its partners are set to announce a decision on their C$40 billion ($31 billion) liquefied natural gas terminal in western Canada as early as next week, amid signs the companies are poised to approve it, according to people familiar with the plans.

Preparations for an Oct. 5 announcement followed by an LNG Canada event and fireworks at the local golf club the next day are underway in Kitimat, British Columbia, the site of the proposed project, said people with direct knowledge of the activities, who asked not to be identified. The situation is fluid and timing could change, the people said.

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