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Facebook oversight board won’t have mandate to change policy

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WASHINGTON, D.C. (Reuters) – Facebook Inc will allow a new outside oversight board to make final decisions on whether individual pieces of content can be displayed on the social media site, but the group won’t be able to make policy changes, the company said on Tuesday. FILE PHOTO: Silhouettes of laptop users are seen next Read More

Feature: IMO 2020 mandate creates Singapore-Fujairah arbitrage for LSFO

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Singapore — The fuel oil market has started to see International Maritime Organization-compliant marine fuel being shipped from Singapore to Fujairah, several market participants told S&P Global Platts, confirming expectations of imminent changes to global trade flows for residual fuels going into 2020. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Read More

Atlantia’s CEO set to step down as bridge probe darkens

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MILAN (Reuters) – The long-standing head of Italian infrastructure group Atlantia (ATL.MI) is ready to step down as a probe into a deadly bridge collapse snowballs, prompting its top shareholder, the Benetton family, to pull support, sources said on Monday. Giovanni Castellucci, who masterminded a multi-billion merger with Spanish rival Abertis last year, will hand Read More

Trump backs plan that would boost biofuel quotas 10% in 2020

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NEW YORK (Reuters) – U.S. President Donald Trump has tentatively approved a plan to increase the amount of biofuels that oil refiners are required to blend each year to compensate for exemptions handed out to small refiners by the Environmental Protection Agency, two sources familiar with the matter said. FILE PHOTO: U.S. President Donald Trump Read More

Asia high sulfur fuel oil market may reel under further supply pressure from Saudi attacks: traders

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Singapore — Asian high sulfur fuel oil markets are likely to come under intense pressure due to the drop in exports from Saudi Arabia following the weekend drone attacks as the leadup to the IMO 2020 sulfur cap on bunker fuel had already tightened supply in the region, traders said Monday. Not registered? Receive daily Read More

Trump administration paves way for Arctic drilling rights sale

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By Jennifer A. Dlouhy on 9/13/2019 WASHINGTON (Bloomberg) – The Trump administration on Thursday took a major step toward auctioning oil drilling rights across every acre of the Arctic National Wildlife Refuge’s coastal plain, hours after the House of Representatives voted to outlaw the activity. In an environmental impact statement, the Interior Department acknowledged oil Read More

Draghi ties Lagarde’s hands with promise of indefinite stimulus

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FRANKFURT (Reuters) – European Central Bank chief Mario Draghi pledged indefinite stimulus on Thursday to revive an ailing euro zone economy, tying the hands of his successor for years to come and sparking an immediate conflict with U.S. President Donald Trump. As Draghi’s eight-year mandate nears its close, the ECB cut rates deeper into negative Read More

ECB promises stimulus buys ‘as long as necessary’

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FRANKFURT (Reuters) – The European Central Bank promised an indefinite supply of fresh asset purchases and cut interest rates deeper into negative territory on Thursday, an effort to prop up the ailing euro zone economy that was cheered by financial markets. European Central Bank (ECB) President Mario Draghi attends a news conference on the outcome Read More

Refinery News Roundup: Turnarounds in Asia-Pacific coming to an end

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London — Mangalore Refinery and Petrochemicals Ltd. has begun to restart its crude distillation unit after fixing damage caused by heavy rain, company officials said. The refinery shut Phase-III process units during the third week of August as a precautionary measure after a landslide caused by heavy rain. Not registered? Receive daily email alerts, subscriber Read More

OPEC+ committee not planning talks on deeper oil output cuts, officials say

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Abu Dhabi — A key OPEC/non-OPEC monitoring committee set to meet Thursday in Abu Dhabi isn’t planning to discuss any deeper oil output cuts nor any other adjustments to the current supply pact, according to officials. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The officials stressed that the Read More