South Korea

SK Development said on Monday its SK On batterymaking unit is still on target to recover cost in the second half of this year after a. forecastbeating firstquarter operating earnings, sending its. shares up almost 6.5%. The company, which also owns South Korea's leading refiner SK. Energy, said it expects strong refining margins to continue in. the 2nd quarter, backed by firm demand. It posted operating profit of 625 billion won ($ 454 million). for the January to March period, versus 375 billion won a year. earlier and a typical analyst projection of 466 billion won. First-quarter profits fell 1.5%...

HD Hyundai Marine Solution is set to price its shares at the top of an indicative variety to raise 742 billion won ($ 538 million), two people with direct knowledge of the matter said, in South Korea's largest initial public offering in two years. The people spoke on condition of privacy as the information was confidential. The a sign price range for the 8.9 million shares to be offered in the IPO was 73,300 won to 83,400 won each, regulatory filings showed. Hyundai Marine Option will issue 4.45 million brand-new shares for the IPO, while existing 4.45 million shares will...

The following quotes, mergers, acquisitions and disposals were reported by 1930 GMT on Monday: ** Activist investor Jana Partners is prompting the world's. biggest maker of silicon carbide Wolfspeed Inc to. check out all methods to improve shareholder worth, consisting of a. prospective sale, according to a letter evaluated . ** Portuguese oil business Galp Energia has. released the sale of half of its stake in an exploration block. offshore Namibia where it has actually made a major oil discovery, three. market sources acquainted with the matter told . ** Data-management software application firm Informatica is not. presently taken part...

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday: ** Data-management software firm Informatica is not currently taken part in any discussions to be obtained, the company said, after media reports of takeover interest from Salesforce . ** Kroger and Albertsons Cos stated that they have amended their conclusive contract with C&S Wholesale Grocers for the sale of possessions in connection with their proposed merger. ** CoStar Group said it would buy 3D virtual trip developer Matterport in a cash-and-stock offer valued at $1.6 billion. ** Vista Outdoor stated it was taking part in discussions...

Area premiums for U.S. Mars unrefined exports to Asia have actually leapt after Mexico cancelled deliveries to conserve oil for domestic use and amid tightened supply of heavier grades internationally, trade sources said on Wednesday. Deals for the medium-sour Mars crude soared to premiums above $6 a barrel to Dubai quotes for shipment to Asia in July, the sources said, similar to light sweet West Texas Intermediate oil which is of much better quality. This was up from about $3.50 a barrel for June delivery, one of the sources said. The dive in prices has actually shut the arbitrage, preventing...

Atlantic, Gulf and Pacific (AG&P) LNG and its partners are poised to establish and run liquefied natural gas import terminals in east Indonesia, part of the country's strategies to roll out distribution and increase consumption of LNG. The business's system, AGP Indonesia Utama, shipping firm Suasa Benua Sukses (SBS) and oil and gas provider KPMOG won a. 20-year contract from PLN Energi Guide (PLN EPI) to establish,. own and run the terminals and other gas facilities in. the Sulawesi-Maluku island cluster, AG&P LNG said in a statement. on Tuesday. AG&P LNG will hold the biggest stake in the consortium, at....

Leading South Korean refiners' spot 10 ppm sulphur diesel sale volumes for April are slated to hit a sixmonth high following the issuance of more tenders after sales recently, according to tender documents seen and trade sources on Thursday. GS Caltex, SK Energy, a subsidiary of SK Innovation , and Hyundai Oilbank offered a minimum of six more 10ppm sulphur gasoil freights for second-half April loading given that middle of this week, the sources stated. This comes after the sale of 11 area freights since the start of last week at discounts of more than $1 a barrel. If effective,...

U.S. lp inventories and costs are progressively figured out by the state of commercial demand in North East Asia and trade relations with China rather than weather condition and usage in your home. In spite of an incredibly moderate winter that depressed domestic intake, exports diminished record stocks at the start of October to something much more detailed to regular by the end of March Lp and propylene inventories ended the winter on March. 31 around 5 million barrels (+10% or +0.48 standard deviations). above the previous 10-year seasonal average. The surplus was down from 13 million barrels (+15% or...

The following bids, mergers, disposals and acquisitions were reported by 0930 GMT on Thursday: ** SoftBank CEO Junichi Miyakawa stated that the Japanese telecommunications company is in talks with South Korea's. Naver over control of LY Corp, which. operates the popular messaging app Line. ** Spanish bank BBVA provided a 12.23 billion. euro ($ 13.11 billion) takeover deal for rival Sabadell. straight to shareholders, turning to a hostile quote. after Sabadell's board declined the very same proposal this week. ** Japan's top steelmaker, Nippon Steel, is. sticking to its strategy to close a deal by year-end to buy U.S. Steel,...

South Korea on Wednesday invited a U.S. choice to extend automakers' eligibility for electric automobile tax credits for automobiles containing Chinese graphite through 2026. The U.S. is attempting to wean the electrical automobile battery chain far from China through its Inflation Reduction Act which is being closely monitored by automakers as they make financial investment decisions. South Korea's market ministry stated it will continue to look for to protect key battery materials so domestic battery producers and carmakers can preserve their competitiveness in the U.S. market by satisfying the requirements of the Inflation Reduction Act. In the case of graphite,...

South Korea's SK Development is considering selling its subsidiary SK IE Technology (SKIET) to reorganize its battery service, the Maeil Business newspaper reported on Wednesday. The relocation is focused on alleviating monetary problem dealt with by SK Innovation's battery-making unit SK On amidst damaging need for electric automobiles, according to the newspaper, citing an unnamed financial investment banking source. SKIET supplies separators - an essential battery element - to EV battery makers consisting of Tesla partner Panasonic Corp. . The report added that SK Group has recently picked a. plan to sell SKIET's management rights and started calling. prospective purchasers...

Australian green hydrogen electrolyser company Hysata said on Thursday that it has actually raised an overall of $111 million in funding led by British oil giant bp's investment arm and Hong Kong asset management company Templewater. A financial investment of $10 million each has actually been made by bp Ventures and Templewater in the second round of funding, Hysata said in an exchange filing. The Wollongong-headquartered business said it would utilize the funds to broaden production capability at its electrolyser facilities in New South Wales. With high-efficiency, fundamentally low capex and a. mass-manufacturable design, Hysata aims to drive down the....

Energy giant Shell is in talks with Saudi Arabia's stateowned Saudi Aramco to sell its gas station business in Malaysia, the secondlargest such network in the country, 4 market sources knowledgeable about the conversations stated, and a deal might be worth approximately $1 billion. Shell decreased to talk about the talks however stated Malaysia is an important nation to the business. Saudi Aramco likewise declined to comment. London-based Shell completely owns around 950 fuel stations across the Southeast Asian country, according to its website, with just Malaysia's state-owned Petronas running a. bigger network. Talks began in late 2023 and a...

Exxon Mobil Corp on Tuesday provided a dire caution about the outlook of Australia's. domestic gas supply, joining other gas producers in calling for. policy stability and more financial investment in the sector. There is an immediate requirement for brand-new investment in domestic gas. supply and facilities to offer energy security and. cost for households and services, ExxonMobil. Australia's Commercial Director David Berman stated in a speech to. the Australian Domestic Gas Outlook (ADGO) conference in Sydney. Without investment, ExxonMobil Australia estimates by 2030. domestic gas supply readily available to southern states will decrease. by 44%, Berman stated. Exxon operates...

The U.S. Labor Department said on Monday that SK Battery America faces $77,200. in fines for five severe security violations after workers in. Georgia suffered possibly permanent respiratory damage in an. October 2023 lithium battery fire. This is the 2nd infraction notice released by the department. in recent months. In January, the department's Occupational Safety and Health. Administration (OSHA) stated SK Battery exposed workers at a. U.S. battery plant to unsafe levels of nickel and other metals,. and faces $75,000 in fines over six severe offenses. SK,. which materials Volkswagen and Ford Motor,. utilizes 3,100 workers at its Commerce, Georgia...