A unit of Glencore Xstrata revealed that it would scaling back on its workforce as well as its budget in the Tampakan copper-gold mine in South Cotabato, Philippines.
Energy
Hess Corp and Newfields Exploration Co get offers for Asian assets
Hess Corp and Newfields Exploration Co receive substantial offers for Asian assets. Hess Corp. (HES) and Newfields Exploration Co. (NFX) are reportedly selling Asian assets.
Albay gov, congressmen prefer SMEC takeover of electric cooperative
Albay Governor Joey Salceda and two representatives preferred to have SMEC takeover Albay Electric Cooperative (ALECO).
Aboitiz Power looks into acquisition of state-owned power assets
Aboitiz Power expressed its interest to acquire some of the country's state-owned power assets.
China's CNPC oil operations in Chad suspended
Chad indefinitely suspended China's CNPC oil operations in the country. All drilling activities by China National Petroleum Corporation's subsidiary in the Republic of Chad were indefinitely suspended.
Latest News
In an editorial on the Daily Telegraph, Prime Minister David Cameron gave his backing for hydraulic fracturing.
A unit of San Miguel Corp remained the only bidder for ALECO after Aboitiz Energy and Manila Electric backed out.
California's legislation to "bottle the sunlight" attracted venture capitalists and other major companies in an energy race to 2020.
Mexico’s policies on making their oil and gas resources hands-off from private companies has lasted 75 years. They now intend to reform these laws, seeing a potential massive growth since its North American Free Trade Agreement (NAFTA) about twenty years ago.
Pioneer oil driller Chesapeake Energy decided to just drop their claims of retaining land leases after two years of legal battle with landowners.
ConocoPhillips submitted its application for permits to drill a production well in a new field in the Alaska national reserve.
Cheil Industries purchased a 50% stake in German lighting company Novaled for EUR 260 million. South Korea-based Cheil Industries bought a majority stake in Novaled, a lighting company in Germany that specializes in organic light-emitting diode (OLED) structures.
The sovereign wealth fund of Norway said it increased its share of equity holdings from 62.4% to 63.4%.
Sojitz Corp said it will be investing JPY 35 billion to build four solar power plants in Japan. Japan-based general trading company Sojitz Corp said it will be initiating its first few solar power projects in the country.
