Reuters Asia Business Archives - Page 1024 of 2133

Pakistan to push Chinese utilities in Pakistan to switch to domestic coal

21 Jul 2024 21 Jul 2024

By Ariba Shahid ISLAMABAD (Reuters) – Pakistan this month will ask Chinese power plants operating in the country to shift to using coal from Pakistan’s Thar region rather than imported coal, the power minister said on Sunday. Islamabad may also begin talks on re-profiling Pakistan’s energy sector debt during the visit to Beijing, Awais Leghari, …

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China braces for twin tropical cyclones after deadly flash floods

21 Jul 2024 21 Jul 2024

BEIJING (Reuters) -Two tropical cyclones will bring gales and heavy rain to China’s eastern seaboard this week, with the first expected to make landfall on Sunday, after deadly flash floods struck the country’s interior over the weekend. Prapiroon, named after a Thai rain god, is expected to make landfall in China’s southernmost island province of …

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ExxonMobil to transfer operations of assets of 2 production-sharing contracts in Malaysia to Petronas

20 Jul 2024 20 Jul 2024

SINGAPORE (Reuters) -Exxon Mobil Corp intends to transfer the operations of all assets of two production-sharing contracts in Malaysia to state energy company Petronas, Exxon Mobil said on Saturday. Reuters had reported on Friday that Exxon Mobil had agreed to sell its Malaysian oil and gas assets to Petronas, citing two people with direct knowledge …

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Exclusive-ExxonMobil selling Malaysia oil and gas assets to Petronas, sources say

20 Jul 2024 20 Jul 2024

By Yantoultra Ngui and Florence Tan SINGAPORE (Reuters) -Exxon Mobil Corp has agreed to sell its Malaysian oil and gas assets to state energy firm Petronas, exiting the country’s upstream sector where it used to be a dominant producer, two people with direct knowledge of the matter said. The U.S. major, which last year marked …

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Nippon Steel hires Mike Pompeo to advise on U.S. Steel deal

20 Jul 2024 20 Jul 2024

TOKYO (Reuters) -Japan’s biggest steelmaker, Nippon Steel Corp., has hired former U.S. Secretary of State Mike Pompeo to help with its effort to acquire U.S. Steel, the Japanese company said on Saturday. “We look forward to working alongside him to further emphasize the ways in which Nippon Steel’s acquisition of U.S. Steel bolsters the country’s …

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Porsche replaces China boss amid sales slump

20 Jul 2024 20 Jul 2024

FRANKFURT (Reuters) -German luxury sportscar maker Porsche AG will replace the chief executive of its China business, it said on Saturday, a move that follows a major drop sales in the world’s largest automotive market. Alexander Pollich will become Porsche China CEO on Sept. 1, 2024, at the earliest, the company said, replacing Michael Kirsch, …

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China’s first-half 2024 fuel oil imports slide 11% y/y

20 Jul 2024 20 Jul 2024

SINGAPORE (Reuters) – China’s total fuel oil imports slipped 11% in the first half of 2024, data showed on Saturday, amid a backdrop of weak refining margins and poor fuel demand. The imports totalled 11.95 million metric tons, or about 75.88 million barrels, data from the General Administration of Customs showed. Chinese refiners typically purchase …

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China’s H1 crude imports from top supplier Russia up 5% on year

20 Jul 2024 20 Jul 2024

(Reuters) – China’s crude oil imports from top supplier Russia fell 20% in June year-on-year, bringing the total for the first half of 2024 up 5%, official data showed on Saturday, as refiners, pressured by weakened margins, chased discounted barrels. Russian oil arrivals, including via pipelines and shipments, totalled 8.43 million metric tons last month, …

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Exclusive-US-Japan Patriot missile production plan hits Boeing component roadblock

20 Jul 2024 20 Jul 2024

By Nobuhiro Kubo and Tim Kelly TOKYO (Reuters) – A U.S. plan to use Japanese factories to boost production of Patriot air defence missiles – used by Ukraine to defend against Russian attacks – is being delayed by a shortage of a critical component manufactured by Boeing, four sources said. Japan’s Mitsubishi Heavy Industries (MHI) …

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Global tech outage eases after widespread disruption, new focus seen on risks

20 Jul 2024 20 Jul 2024

(Reuters) -Services from airlines to healthcare, shipping and finance were coming back online on Friday after a mistake in a security software update sparked hours-long global computer systems outages, another incident highlighting the vulnerability of the world’s interconnected technologies. After the outage was resolved, companies were dealing with backlogs of delayed and canceled flights and …

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Reuters Asia Business﻿﻿

Reuters Asia Business