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Kenya's President William Ruto called the treaty “the first domino” in a shift away from plastic pollution. The U.N. Intergovernmental Negotiating Committee on Plastic Pollution is charged with developing the first international, legally binding treaty on plastic pollution on land and at sea. Kenya is a global leader in fighting plastic pollution, and in 2017, the country banned the manufacture, sale and use of single-use plastic bags. Nonetheless, he said, it is evident that negotiations have moved beyond plastic waste and into addressing plastic production and toxic chemicals used to make plastic. “The focus is on ending plastic pollution, not plastic production," he said.

Persons: Gustavo Adolfo Meza, Cuadra Velasquez, William Ruto, ” Graham Forbes, ” Eirik Lindebjerg, Björn Beeler, haven't, IPEN, Chris Jahn, Karen McKee, Jahn, ___ McDermott Organizations: United Nations Environment, Global, reconvening, Intergovernmental, UNEP, Greenpeace, World Wildlife Fund, Plastics, Industry, International Council of Chemical Associations, ExxonMobil, Solutions Company, AP Locations: NAIROBI, Kenya, Kenya's, Nairobi, Paris, Punta del Este, Uruguay, Norway, Rwanda, Saudi Arabia, Iran, China, Russia, United States, Baytown , Texas, Baytown, Providence , Rhode Island

☆ In UN Talks for a Global Plastic Treaty, Delegates to Face off Over Production Limits
▼ + stars: | 2023-11-12 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +4 min

That position is opposed by the plastic industry and by oil and petrochemical exporters like Saudi Arabia, who want to see plastic use continue. They argue that the treaty should focus on recycling and reusing plastics, sometimes referred to in the talks as "circularity" in the plastics supply. In a submission ahead of this week's negotiations, Saudi Arabia said the root cause of plastic pollution was "inefficient management of waste." "The plastics agreement should be focused on ending plastic pollution, not plastic production," Kastner told Reuters in a statement. Countries will also be debating whether the treaty should set transparency standards for chemical use in plastics production.

Persons: Valerie Volcovici, David Azoulay, Matthew Kastner, Kastner, Bjorn Beeler, Beeler, Christina Dixon, Katy Daigle, Aurora Ellis Organizations: Center for International Environmental, UN, European Union, U.S . State Department, Reuters, The International Council of Chemical Associations, Network, Saudi, Environmental Investigation Agency Locations: Nairobi, Kenya, Japan, Canada, Saudi Arabia, United States, U.S

Persons: Carlo Allegri, David Azoulay, Matthew Kastner, Kastner, Bjorn Beeler, Beeler, Christina Dixon, Valerie Volcovici, Katy Daigle, Aurora Ellis Organizations: United Nations, UN, REUTERS, Center for International Environmental, European Union, U.S . State Department, Reuters, The International Council of Chemical Associations, Network, Saudi, Environmental Investigation Agency, Thomson Locations: Manhattan, New York City , New York, U.S, Nairobi, Kenya, Japan, Canada, Saudi Arabia, United States

☆ Explainer: Iran's expanding oil trade with top buyer China
▼ + stars: | 2023-11-10 | by ( Muyu Xu | ) www.reuters.com time to read: +5 min

Here are key facts on Iran's oil trade with China:HOW MUCH IRANIAN OIL IS CHINA BUYING? HOW DOES IRANIAN OIL ENTER CHINA? Almost all Iranian oil entering China is branded as originating from Malaysia or other Middle Eastern countries. China regulates crude oil imports by issuing quotas. Giant state refiners Sinopec and PetroChina were once key Iranian oil clients, with investments in oilfields in the country.

Persons: Raheb, Donald Trump, refiners, China's, Muyu Xu, Florence Tan, Tony Munroe, Kim Coghill Organizations: REUTERS, Hamas, Imports, Reuters, Brent, Washington, State Department, Thomson Locations: Iranian, Iran, Israel, Tehran, China, CHINA, Washington, Malaysia, Oman, UAE, China's Shandong, Kpler, Shandong, Russia, Venezuela, Beijing, U.S

☆ Abu Dhabi's ADNOC makes new bid for stake in Brazil's Braskem; shares soar
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai Acquire Licensing RightsSAO PAULO, Nov 9 (Reuters) - Brazilian petrochemical producer Braskem (BRKM5.SA) on Thursday said Abu Dhabi oil company ADNOC (ADNOC.UL) has presented a new non-binding offer to buy conglomerate Novonor's stake in the firm. The petrochemical company cited a letter exchange with Novonor in its filing. The conglomerate would be granted a minority stake of up to 3% in Braskem following the deal, Braskem added. ADNOC had previously presented a joint cash-and-debenture offer alongside U.S. asset manager Apollo (APO.N) for Braskem, with other bidders for the firm including Brazil's Unipar Carbocloro (UNIP6.SA) and J&F.

Persons: Toru Hanai, Braskem, ADNOC, Folha de S.Paulo, BTG, Pedro Soares, we're, Brazil's Unipar, Gabriel Araujo, Steven Grattan, Tomasz Janowski, David Evans Organizations: REUTERS, SAO PAULO, Petrobras, PETR4, Novonor's, Sao Paulo, Novonor, Folha de, ADNOC, U.S, Apollo, Thomson Locations: Gastech, Chiba, Japan, Abu Dhabi, Sao, Braskem

☆ Most Gulf markets end higher after US job market softens
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. Most Gulf Cooperation Council countries, including the UAE, peg their currencies to the U.S. dollar and follow the Fed's policy moves closely. Saudi Arabia's benchmark index (.TASI) gained 0.8%, with oil giant Saudi Aramco (2222.SE) rising 0.5% and Lumi Rental Co (4262.SE) finishing 1.7% higher. Outside the Gulf, Egypt's blue-chip index (.EGX30) closed 2% higher, led by a 2.1% rise in Commercial International Bank (COMI.CA). On Friday, the lender reported third-quarter net income of 8.35 billion Egyptian pounds ($270.66 million), up 89% year-on-year.

Persons: Joe Biden, Hamad I Mohammed, Detroit's, Jerome Powell, Ateeq, David Goodman, Sharon Singleton Organizations: Bahrain Bourse, U.S, REUTERS, Federal, United Auto Workers, UAW, Gulf Cooperation, U.S ., Saudi Aramco, Lumi, Reuters, Industries Qatar, Commercial International Bank, Thomson Locations: Bahrain, Manama, U.S, Gulf, UAE, Saudi, Ateeq Shariff, Bengaluru

SINGAPORE, Oct 31 (Reuters) - At least three Chinese companies including state giant China National Offshore Oil Company (CNOOC) are evaluating Shell's Singapore assets and considering non-binding bids in coming weeks for the city-state's oldest refinery, according to several sources familiar with the matter. CNOOC, the parent of offshore oil and gas major CNOOC Ltd , operates a joint refining-petrochemical complex with Shell in southern China. However, Sinopec Corp's president said in late August it was not interested in the Shell assets. Two of the sources said Shell had set a preliminary Nov. 5 deadline for proposals, although that could be extended. A Wanhua spokesperson said he was not aware of the company's potential interest in the Shell assets.

Persons: Shell, Goldman Sachs, CNOOC, Sinopec, Rongsheng, Eversun, Salmon Lee, Chen Aizhu, Trixie Yap, Tony Munroe, Florence Tan, Kim Coghill Organizations: Offshore Oil Company, Singapore, Reuters, Eversun Holdings, Wanhua, Shell, Hengli Petrochemical, China National Petroleum Corp, Privately, Thomson Locations: SINGAPORE, China, state's, Singapore, Bukom, Jurong, PetroChina, Huizhou, Guangdong, Fujian province, Putian, Shandong province, Asia, Southeast Asia

☆ We're changing our Honeywell price target after a mixed quarter and conservative guidance
▼ + stars: | 2023-10-26 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

HON YTD mountain Honeywell YTD Unfortunately, Honeywell hit a 52-week low in Thursday's terrible market. Moreover, guidance for the remainder of the year was mixed: Sales are expected to be better than we thought. Honeywell repurchased 5.3 million shares during the quarter, more than double the amount purchased in the second quarter. Additionally, for both the full year and the current quarter, earnings performance is being suppressed by pension liabilities. Qualitatively, continued volatility is expected but management believes they can deliver further growth, margin expansion, and cash growth "in line or above EPS growth."

Persons: We're, it's, we'll, Vimal, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Honeywell, Revenue, LSEG, Management, Commercial Aviation, Defense, Aero, mangement's, Aerospace Technologies, Industrial Automation, CNBC, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: New York

☆ TotalEnergies sticks to share buyback plans despite net income drop
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: +2 min

TotalEnergies on Thursday posted a 35% fall in third quarter adjusted net income from last year's record high, hurt by a drop in energy prices, but maintained its share buyback operation as conflicts push oil prices back up. The French energy company's adjusted net income stood at $6.5 billion, down from the year-earlier $10 billion but just beating an analyst forecast of $6.4 billion, according to a consensus established from LSEG data. Second quarter adjusted net income was $5 billion. Profits were buoyed by the company's increase in renewable capacity and integration as well as persistently high oil prices, despite crude falling from a decade-plus high last year following Russia's invasion of Ukraine. Oil prices remained buoyant at around $90 per barrel at the beginning of the fourth quarter, it said.

Persons: Patrick Pouyanne, TotalEnergies Locations: Ukraine, United States, Port Arthur, Antwerp, Belgium, France

☆ Why Exxon and Chevron are doubling down on fossil fuel energy with big acquisitions
▼ + stars: | 2023-10-25 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +6 min

The largest oil and gas producers in the United States see a long pathway for oil demand," Cahill told CNBC. "There's a major difference between what the big oil companies believe the future of oil is and the governments around the world." "The large companies — nongovernment companies — do not see an end to oil demand any time in the near future. Oil and gas are relatively cheap and easy to move around, particularly in comparison with building new clean energy infrastructure. "By the way, that means the large financial oil companies will be able to weather that environment better than the smaller companies."

Persons: Cahill, Ben Cahill, Goldstein, Larry J, Birol, Fatih Birol, Shon Hiatt, Hiatt, Marianne Kah, Kah, Amy Myers Jaffe, Jaffe Organizations: CNBC, Center for Strategic, International Studies, Petroleum Industry Research Foundation, Energy, Research Foundation, Chevron, Exxon, International Energy Agency, IEA, USC Marshall School of Business ., Columbia University's Center, Global Energy, ConocoPhillips, New York University, Climate Justice, Sustainability, NYU's School, Professional Studies, Exxon Mobil Locations: United States, Africa, Asia, America, U.S, Russia, Venezuela, Iran

☆ Foxconn’s China woes expose supply chain dilemma
▼ + stars: | 2023-10-24 | by ( Chan Ka Sing | ) www.reuters.com time to read: +4 min

Yet, coming less than 100 days ahead of Taiwan’s presidential election in January, it is difficult to see surprise tax raids on Foxconn as having no geopolitical implications. For multinationals, the tax audits expose Foxconn’s difficulty in navigating the global business environment as tensions across the Taiwan Strait escalate. For global onlookers anxious to reduce their Chinese dependency, Foxconn could be the most telling case on the true cost of reshoring. The audits come less than three months ahead of Taiwan’s presidential election in January 2024 and amid Foxconn’s drive to expand its production outside China. Foxconn’s founder Terry Gou, who stepped down as company chief in 2019, is running as an independent candidate in Taiwan’s upcoming presidential election.

Persons: Foxconn, Terry Gou, It’s, Foxconn’s, Lisa Jucca, Thomas Shum, Katrina Hamlin Organizations: Reuters, Apple, Hai Precision Industry, Global Times, Eastern, Democratic Progressive Party, Foxconn, Thomson Locations: HONG KONG, China, Taiwan, Foxconn, Beijing, Vietnam, Republic, Shanghai, Taipei

☆ Manchester United Shareholders May Have Scored After All
▼ + stars: | 2023-10-18 | by ( Jon Sindreu | ) www.wsj.com time to read: 1 min

British billionaire Jim Ratcliffe is the only remaining bidder for Manchester United soccer club. PHOTO: PETER BYRNE/ZUMA PRESSManchester United shareholders are acting like despondent soccer fans after video-refereeing technology disallows a goal. Yet they might still win the match. The British soccer club’s publicly traded Class A shares have lost roughly 10% of their value since the weekend, when it was widely reported that British billionaire Jim Ratcliffe is in talks to buy a 25% stake through his petrochemical company Ineos. The other bidder, Sheikh Jassim Bin Hamad al-Thani, chairman of Qatar Islamic Bank, dropped out.

Persons: Jim Ratcliffe, PETER BYRNE, ZUMA, disallows, club’s, Sheikh Jassim Bin Hamad Organizations: Manchester United soccer, ZUMA PRESS Manchester United, Qatar Islamic Bank Locations: Thani, Qatar

☆ The top 10 things to watch in the stock market Wednesday
▼ + stars: | 2023-10-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

U.S. stock are under pressure in premarket trading Wednesday, with S & P 500 futures down 0.47%. Revenues at its wealth management division rise 4.6% but fall short of analysts' forecasts, sending shares tumbling by 2.6% in premarket trading. Morgan Stanley reduces its price target to $600 a share, down from $630, while Citi lowers to $575 a share, from $630. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Morgan Stanley, Jefferies, Goldman Sachs, Wells Fargo, Sherwin, Williams, Jim Cramer's, Jim Cramer, Jim Organizations: Treasury, West Texas, Club, Procter, Gamble, Abbott Laboratories, Citi, Nvidia, Visa, Mastercard, Journal, Coterra Energy, Occidental Petroleum, Antero Resources, Starbucks, JPMorgan, Meta, Bank of America, Dow Inc, Huntsman Corp, LyondellBasell Industries, Albemarle, Westlake Corporation, Jim Cramer's Charitable, CNBC Locations: China

The decline has been driven by weakness in producing fuels such as gasoline and naphtha, even as the margin on middle distillates has performed strongly. The trend for refining in Asia is increasingly characterised by strong margins for middle distillates, which are enough to offset weakness in gasoline and even losses for naphtha. Asia's total exports were 7.4 million metric tons in September, equivalent to about 1.85 million bpd, according to data from LSEG. Data from commodity analysts Kpler is also far from convincing, with just 660,000 metric tons of diesel shipments from China so far in October. Effectively, Asia's refiners are happy to suffer weak margins on fuels such as gasoline and naphtha because the profits on middle distillates are so high.

Persons: it's, refiners, Robert Birsel Organizations: REUTERS, Rights, China, Reuters, Thomson Locations: Kolkata, India, Rights LAUNCESTON, Australia, Asia, Singapore, Dubai, OPEC, Saudi Arabia, China, Beijing

☆ Why the hydrogen tax credit has become a lightning rod for controversy
▼ + stars: | 2023-10-13 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +16 min

The proposed tax credit, 45V, is meant to turbocharge the production of low-emissions hydrogen. "The IRA's section 45V production tax credit is the most generous clean hydrogen subsidy in the world," Jesse Jenkins, professor of macro-scale energy systems at Princeton University, told CNBC. John Macdougall | Afp | Getty ImagesThe adjudication of the hydrogen tax credit has become about more than just the hydrogen tax credit, too. The amount of the hydrogen tax credit, which is available for 10 years, depends on the emissions generated in making hydrogen. If hydrogen is produced without releasing any carbon emissions, the tax credit is maxed out at $3 per kilogram of hydrogen.

Persons: that's, It's, Jesse Jenkins, John Macdougall, Wilson Ricks, Jenkins, Ricks, Rachel Fakhry, electrolyzers, Andriy Onufriyenko, Eric Guter, Josef Kallo, H2FLY, Guter, Phil Musser, Shannon Angielski, Angielski, Shi, Fakhry Organizations: Istock, Treasury, Princeton University, CNBC, Daimler Truck Holding, Afp, Getty, Energy, Research, Princeton, Natural Resources Defense Council, Power, Singularity, Air Products, Bloomberg, Air, Products, Hydrogen Company, European, EU, NextEra Energy, Hydrogen Future Coalition, BP, Duke Energy, Exxon Mobile, General Electric, Siemens Energy, American, Shell, Hydrogen, Coalition Locations: Biden's, United States, U.S, Berlin, additionality, Maribor, Slovenia, Oxagon, Saudi Arabia, Wilbarger County , Texas

☆ These seven U.S. regions will receive $7 billion in federal funding to produce hydrogen
▼ + stars: | 2023-10-13 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +5 min

California Hydrogen Hub: The California Hydrogen Hub spans from Southern California to Northern California and encompasses three ports: Los Angeles, Long Beach and Oakland. Gulf State Hydrogen Hub: The Gulf State Hydrogen Hub will be centered in Houston, Texas, and will cover most of the Gulf Coast and southeast Texas. Mid-Atlantic Hydrogen Hub: The Mid-Atlantic Hydrogen Hub spans parts of Pennsylvania, Delaware and New Jersey and will take advantage of repurposed infrastructure along the Delaware River. Midwest Hydrogen Hub: The Midwest Hydrogen Hub is in Illinois, northwestern Indiana and southwestern Michigan and will produce hydrogen from, among other sources, nuclear power. Pacific Northwest Hydrogen Hub: The Pacific Northwest Hydrogen Hub encompasses eastern Washington, northeastern Oregon and some parts of Montana and will produce hydrogen for making fertilizer.

Persons: Joe Biden, U.S . Department of Energy Jennifer Granholm, Biden, It's Organizations: U.S . Department of Energy, White, Infrastructure Law, Hydrogen Locations: United States, West Virginia, Southeast Ohio, Pennsylvania, It's, California, Southern California, Northern California, Los Angeles, Long Beach, Oakland, Ports, Houston , Texas, Gulf, Texas . Texas, Minnesota, North Dakota, South Dakota, Delaware, New Jersey, Illinois, Indiana, Michigan, Pacific, Washington, Oregon, Montana

☆ Climate Forward Live Event Discussing the Threats of a Rapidly Warming Planet
▼ + stars: | 2023-09-21 | by ( Adam Pasick | The New York Times | ) www.nytimes.com time to read: +3 min

PinnedThe Times climate event will feature interviews and sessions with speakers including (clockwise from upper left) Ajay Banga, Robin Wall Kimmerer, Marie Kondo, Bill Gates, Michael R. Bloomberg and Ebony Twilley Martin. The Climate Forward live event is bringing together some of climate’s most vital newsmakers to share ideas, work through problems and answer tough questions about the threats presented by a rapidly warming planet. The former vice president noted that the United Nations had appointed a top oil executive, Sultan Ahmed al-Jaber of the United Arab Emirates, to lead this year’s global climate talks. “That’s just, like, taking the disguise off,” Mr. Gore said at The New York Times’s Climate Forward event in Manhattan. “It’s enough already.”Expert journalists from across The Times’s newsroom are providing critical analysis of the remarks by guests at the Climate Forward event, who include world leaders, activists, scientists and corporate executives.

Persons: Ajay Banga, Robin Wall Kimmerer, Marie Kondo, Bill Gates, Michael R, Ebony Twilley Martin, ”, Al Gore, Sultan Ahmed al, Jaber, “ That’s, ” Mr, Gore, “ They’ve, “, We’ll, Bill Gates Bill Gates, Paul Allen, Melinda Gates, Ajay Banga Ajay Banga, David Malpass Organizations: Bloomberg, United Nations, United Arab, The, Microsoft, Melinda Gates Foundation, Energy, World Bank, Mastercard Locations: New York City, United Arab Emirates, York, Manhattan, Banga

☆ Michael Bloomberg Dials Up a War on Plastics
▼ + stars: | 2023-09-20 | by ( David Gelles | More About David Gelles | ) www.nytimes.com time to read: +1 min

Michael Bloomberg is many things: former New York City mayor, founder of a financial data company, failed presidential candidate and the 11th richest man in the world. Since leaving public office 10 years ago, Mr. Bloomberg, 81, has also emerged as perhaps the world’s single largest funder of climate activism, making himself an expensive thorn in the side of the fossil fuel industry. The former mayor says that so far he has spent $500 million in an effort to shut down coal and gas plants. This month he said he planned to spend another $500 million on the effort. Now he is going after a more challenging target: new petrochemical plants that make fertilizer, plastics and packaging.

Persons: Michael Bloomberg Organizations: New York City, Bloomberg, Sierra Club Locations: New York

[1/2] Former mayor of New York Michael Bloomberg speaks during a meeting with Earthshot prize winners and finalists at the Glasgow Science Center during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021. The $500 million infusion into his decade-long Beyond Carbon initiative aims to "finish the job on coal" by working with state and local organizations to force the closure of the roughly 150 coal plants that have not yet retired, slash current gas generation in half and block the construction of new gas-fired plants. Bloomberg already has spent over $500 million to support the Sierra Club's Beyond Coal campaign, which originally aimed to retire 30% of the U.S. coal fleet by 2020. The money would support litigation brought against utilities and power companies by grassroots groups, state and local policy advocacy and financing to assist local communities with coal plant closures, Bloomberg Philanthropies said. Reporting by Valerie Volcovici; Editing by Katy Daigle and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

Persons: New York Michael Bloomberg, Alastair Grant, Michael Bloomberg, Bloomberg Philanthropies, U.N, Antonio Guterres, Valerie Volcovici, Katy Daigle, Grant McCool Organizations: New York, Glasgow Science Center, Change, UNITED NATIONS, Former New York City, Bloomberg, Sierra, General Assembly, Thomson Locations: Glasgow, Scotland, Britain, United States, U.S, America

Chinese President Xi Jinping and Russian President Vladimir Putin attend a presentation of a Haval F7 SUV produced at the Haval car plant located in Russian Tula region, at the Kremlin in Moscow, Russia, June 5, 2019. Nikolai Patrushev, a close Putin ally and the secretary of Russia's Security Council, said Russia and China should deepen cooperation in the face of the West's attempt to contain them both. Putin will attend the third Belt and Road Forum after an invitation by Xi during a high-profile visit to Moscow in March. Putin has pivoted towards China, and Xi has stood by him. Putin last visited Beijing in February 2022, days before the invasion, where he and Xi announced a 'no limits' partnership.

Persons: Xi Jinping, Vladimir Putin, Maxim Shipenkov, Putin, China's Xi Jinping, Putin's, Nikolai Patrushev, Wang Yi, Xi, Maxim Reshetnikov, Reshetnikov, William Burns, Guy Faulconbridge, Kevin Liffey, Christina Fincher Organizations: Kremlin, ICC, Security, Criminal Court, Cuban Missile Crisis, CIA, Reuters, Thomson Locations: Russian Tula, Moscow, Russia, China, MOSCOW, Beijing, Ukraine, CHINA, RUSSIA, Russian, United States

☆ Canada risks more than C$50 billion in clean tech as incentives in limbo
▼ + stars: | 2023-09-18 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

OTTAWA, Sept 18 (Reuters) - More than a year after Canada first announced incentives to jumpstart clean technology projects there is still no money flowing, and if they are not in place soon, more than C$50 billion ($37 billion) in investments could be at risk, industry groups said. The government "urgently needs to get as much of this out the door this fall as possible." Masterson says there are "well beyond C$25 billion of proposed investments" in more than a dozen projects in his industry that are waiting for the incentives. An additional C$17 billion in ITCs for clean hydrogen, electricity and manufacturing were announced six months ago and those are at an earlier stage. Adam Auer, president of Cement Association of Canada, said his members have "billions" in projects that are waiting on the ITCs.

Persons: Justin Trudeau's, Bob Masterson, Masterson, Trudeau, Dennis Darby, Darby, Adam Auer, Rachelle Schikorra, Steve Scherer, Timothy Gardner Organizations: Canada, Justin Trudeau's Liberal, Chemistry Industry Association of Canada, Canadian Manufacturers, CME, Cement Association of Canada, Dow Chemicals, Reuters, Thomson Locations: OTTAWA, United States, U.S, Exshaw , Alberta, Canada, Fort Saskatchewan , Alberta

☆ Oil investors open to dividend cut to boost clean energy spending -Deloitte
▼ + stars: | 2023-09-12 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +3 min

Energy firms have sharply increased shareholder returns on the back of high energy prices after years of overspending on production growth. Oil and gas companies led all industries in cash distribution to shareholders in 2022, with a combined 8% dividend and buyback yield, Deloitte said. But investors holding $2.3 trillion of equity in the global oil and gas industry are changing their expectations about growth markets faster than energy company executives, Deloitte said. About 75% of surveyed investors stated that they would continue holding shares to accelerate investments in lower-carbon technologies, even if yields shrank to as little as 3%. About 43% of surveyed investors emphasized battery storage as their key area for investment.

Persons: Chen Aizhu, Kate Hardin, Hardin, Sabrina Valle, Jamie Freed Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, Deloitte, . Energy, Oil, Exxon Mobil, Chevron, BP, Shell, Thomson Locations: China, Dalian, Liaoning province, HOUSTON

☆ Events in Iran since Mahsa Amini's death in custody
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +5 min

People light a fire during a protest over the death of Mahsa Amini, a woman who died after being arrested by the Islamic republic's "morality police", in Tehran, Iran September 21, 2022. Security forces and demonstrators clash in some cities in Kurdistan province. Oct. 3 - Khamenei backs the security forces. March 7 - Iran says at least 53 members of security forces were killed during the protests. July 16 - Iran's morality police resume hijab street patrolsCompiled by Tom Perry and Parisa Hafezi, Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

Persons: Mahsa, Mahsa Amini, Amini, Ebrahim Raisi, Ayatollah Ali Khamenei, Amini's, Khamenei, Emmanuel Macron, Raisi, Tom Perry, Parisa, William Maclean Organizations: West Asia News Agency, REUTERS Acquire, Rights, Security, Authorities, Revolutionary Guards, Amnesty International, TV, Guards, Bushehr Petrochemical Project, Reuters, Thomson Locations: Tehran, Iran, WANA, Rights DUBAI, Iranian Kurdish, Iran's Kurdistan, Saqez, Kurdistan province, Kurdish, Iraq, Zahedan, Abadan, Bushehr

"I will match your offer and commit today to open an office," Saudi Investment Minister Khalid Al Falih said after India's trade minister Piyush Goyal invited Saudi Arabia to set up an office of its sovereign wealth fund, Public Investment Fund (PIF), in GIFT City. Goyal also said he would suggest that his ministry starts an investment promotion office in Riyadh. During the Crown Prince's visit India and Saudi Arabia signed 50 initial pacts in various fields and agreed to form a joint task force for $100 billion in Saudi investment in India, originally announced by the Crown Prince in 2019. Half of the planned $100 billion is earmarked for a delayed refinery project along India's western coast, an Indian foreign ministry official said. He said Saudi Arabia is looking to invest in sectors including oil, gas, petrochemicals, new energy, technology, manufacturing and defence.

Persons: Amit Dave, Narendra Modi, Khalid Al Falih, Piyush Goyal, Prince Mohammed bin Salman's, Goyal, Crown Prince, Falih, Shivangi Acharya, Nidhi Verma, Blassy Boben, Ed Osmond, Susan Fenton Organizations: Gujarat International Finance Tec, REUTERS, Indian, Saudi Investment, Public Investment Fund, Crown, United Arab Emirates, Saudi Aramco, Thomson Locations: Gujarat, Gandhinagar, DELHI, Saudi Arabia, New Delhi, Dubai, Hong Kong, City, Falih, Delhi, Saudi, Riyadh, India, Indian, Maharashtra

☆ Hengli Petrochemical subsidiary eyes nearly $2 bln restructuring
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

Under the restructuring, Kanghui will effectively become a separately listed company via transactions involving power and heating firm Dalian Thermal Power (600719.SS), which will buy 100% of Kanghui for 10.15 billion yuan ($1.39 billion) in shares. This will optimize Kanghui's structure and expand its funding channels, Hengli said in a filing to the Shanghai stock exchange. Hengli also said it will become indirect controlling shareholder of Kanghui after the transaction, retaining its control over the firm. Dalian Thermal will issue 2.3 billion shares to Hengli and a unit of the company which makes chemical fibre, said the filing. The transactions will change Dalian Thermal's controlling shareholder from a firm backed by the state asset regulating authority in the city of Dalian to Hengli Petrochemical, Dalian Thermal said.

Persons: Kanghui, Hengli, Roxanne Liu, Ella Cao, Kane Wu, David Holmes Organizations: Hengli Petrochemical, Technology, Dalian Thermal Power, Dalian Thermal's, Dalian, Thomson Locations: Dalian, Kanghui, Shanghai

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