For the first time in over 20 years, a US president has blocked a foreign investment, citing security concerns.
Energy
Asia's Largest Refiner, Sinopec, Drops Hostile Bid for Privately-held China Gas
In the ultimate David and Goliath story, the China Petroleum & Chemical Corp., Sinopec, Asia's largest refiner and one of China's biggest state-owned firms, dropped its hostile bid to take over the much smaller, privately-held China Gas Holdings after a contentious struggle lasting nearly a year, according to major media stories.
Bogus Renewable Energy Credit Sales Help Fuel Opposition to Biodiesel Mandates
The sale of at least $100 million in fraudulent renewable energy credits since 2009 has fueled arguments by oil and gas refineries opposed to their government-mandated purchase of such credits.
Ralls Corp. Sues Obama for Blocking Wind Farm Purchase
Ralls Corp., the Chinese-owned company that was blocked by President Obama on Friday from building four wind farms in Northern Oregon, has added President Barack Obama as a defendant in a lawsuit alleging that the government exceeded its authority, The Wall Street Journal reported Tuesday.
Deals of the Day -- Mergers and Acquisition
Reuters reports the merger and acquisition deals of the day. (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday: Two former top aides to Canadian Prime Minister Stephen Harper said on Thursday he should approve a $15.
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The Albuquerque start-up Incitor, Inc. attracted another $1 million in venture capital in September for its innovative conversion technology.
The founders of Indian auto components maker Bharat Forge are in talks with private equity firms to sell a $300 million stake in their wind energy firm Kenersys.
China sovereign fund CIC CIC.UL and Government of Singapore Investment Corp GIC.UL have invested around $500 million each in U.S.-based Cheniere Energy Partners Ltd's (CQP.A) planned liquefied natural gas (LNG) export plant.
Cheniere Energy Partners LP approved investment plans for the start of a $5 billion U.S. liquefied natural gas export project.
China National Petroleum Corp (CNPC) is in talks with Ecuador's government over a potential investment in the OPEC-member's $12.5 billion Pacifico refinery project
Sunoco Inc (SUN.N) and private equity firm Carlyle Group LP (CG.O) have reached an agreement to keep the largest refinery on the East Coast in operation.
Speakers at the conference said renewable energy projects were too bound by red tape to be an attractive destination for the huge sums which private equity firms allocate.
A Russian state firm has offered to buy BP's half share in its huge oil joint venture. A Russian state firm has offered to buy BP's half share in its huge oil joint venture, a source said on Friday, in what would amount to a stunning reversal for the British firm and a bold assertion of Kremlin control over the oil sector.
State-owned China National Petroleum Corp (CNPC) has for the first time accepted outside investment in its gas business in response to government calls to open energy and other infrastructure projects to private investors.
