A deal to sell the Philadelphia Energy Solutions (PES) oil refinery to a Chicago-based real estate developer is expected to close on Friday for US$26.5 million less than originally agreed to, lawyers for the bankrupt refiner said in court on Thursday.
Officials from Venezuelan state oil company Petroleos de Venezuela have spoken with private contractors about paying for work fixing the country's refineries with fuel and byproducts, a half dozen people familiar with the talks said.
Days after a border clash with China this month in which 20 Indian soldiers were killed, New Delhi told firms to find ways to cut imports from China. But two big industries, automobiles and pharmaceuticals, say this is easier said than done.
DETROIT: While U.S. new-vehicle sales in June are expected to decline as much as 30per cent, research firms on Thursday maintained that retail demand has held up relatively well during the coronavirus outbreak and the question now is whether the industry can rebuild inventories fast enough as ...
France and the Netherlands are close to an agreement on a Dutch Air France-KLM bailout contribution, three sources with knowledge of the matter told Reuters on Thursday.
If April was the month Americans hunkered down at home to fight the coronavirus pandemic, June may prove the month they officially lost patience, venturing back to restaurants, beauty salons and other socially dense activities that hinted at an economic rebound but may also be contributing to a new...
The United States on Thursday targeted Iran with another round of sanctions on eight firms, this time targeting steel and other metal companies, according to a notice posted on the U.S. Department of Treasury's website.
The Indian arm of consumer giant Unilever said Thursday it will rename its locally marketed "Fair & Lovely" skin-lightening cream in the face of global anti-racism protests.
Sanofi is considering cutting hundreds of jobs and will discuss potential steps with staff representatives over the coming days, four sources said on Thursday, the latest move by the French drugmaker's chief executive Paul Hudson to cut costs.
Occidental Petroleum Corp said on Thursday it expects to take impairment charges of up to US$9 billion in the second quarter related to the value of its assets as the oil producer forecast crude price to remain lower for a long period of time.
