A World Bank arbitration panel has determined that Venezuela will not have to pay $1.4 billion to Exxon Mobil Corp. for confiscating company assets during a wave of nationalizations. The Washington-based panel issued a ruling that annulled most of the $1.6 billion judgment against Venezuela.
Category: Chemicals
Exxon plans $20 billion expansion of Texas, Louisiana plants
Exxon Mobil is spending $20 billion through 2022 to expand its chemicals and fuel-making capacity in Texas and Louisiana to transform U.S. shale oil and natural gas into products for growing consumer markets in Asia. After decades of siting new plants to make plastics, industrial chemicals and motor fuels in the Middle East and East Asia, the shale boom is spurring Exxon to steer construction dollars back to its home country, Chief Executive Officer Darren Woods said in remarks prepared for the CERAWeek energy conference in Houston on Monday.
Prosecutor accuses Samsung chief of conspiring to hide…
He denies any knowledge of alleged bribery payments from Samsung to entities controlled by a friend of the impeached South Korean president The billionaire was put in a 71-square-foot detention cell with a toilet in the corner when he was arrested SEOUL – A special prosecutor accused Samsung chief Jay Y. Lee of plotting to make fake documents to disguise millions of dollars in bribes. South Korea’s President Park Geun-hye colluded with her friend Choi Soon-sil to receive the bribes from Samsung Group, the prosecutor said in a statement on Monday.
Samsung Group to abolish all groupwide tasks
Seoul, Feb 27 – South Korean electronics giant Samsung is planning to abolish its groupwide tasks and let affiliates independently make business decisions, an official said on Monday. The plan is in line with Samsung’s move to abolish the group’s key future strategy office, which has been responsible for coordinating key affairs among affiliates, Yonhap news agency reported.
Global Automotive Coatings Market will Reach USD 18.2 Billion by 2022
PUNE, MAHARASHTRA, INDIA, February 24, 2017 / EINPresswire.com / — Global Automotive Coatings Market is expected to grow with the CAGR of more than 8% from 2016 to 2022, and with this it is predictable to cross USD 18.2 Billion by 2022. Market Highlights Over the past few years, the global market has witnessed a phenomenal growth due to increasing demand of automotive coatings.
Samsung Chief Jay Y. Lee Arrested Over Alleged Role In Corruption Scandal
Samsung Group chief Jay Y. Lee was arrested early on Friday over his alleged role in a corruption scandal rocking the highest levels of power in South Korea, dealing a fresh blow to the world’s biggest maker of smartphones and memory chips. The 48-year-old Lee, scion of the country’s richest family, was taken into custody at the Seoul Detention Centre after waiting there overnight for the decision.
This CEO was hoping for a Trump tax cut. Hea s getting more than he bargained for.
When President Trump won the election, James Hagedorn was ready to take it to the bank. The chief executive of Scotts Miracle-Gro expected that Republicans He did not expect that Republicans would take such a broad approach to fulfilling Trump’s promises on trade, with stiff new taxes on imports.
‘CEO’ Tillerson faces internal skeptics, crisis-battling White House
US Secretary of State Rex Tillerson listens during an opening session meeting of G-20 foreign ministers at the World Conference Center February 16, 2017 in Bonn, Germany. U.S. Secretary of State Rex Tillerson looks over papers before a meeting on Syria at the World Conference Center in Bonn, western Germany, February 17, 2017.
California fights Monsanto on labels for popular weed killer
A battle over the main ingredient in Roundup, a popular weed killer sprayed by farmers and home gardeners worldwide, is coming to a head in California, where officials want to be the first to label the chemical with warnings that it could cause cancer. Monsanto rejects any health risk of its top-selling herbicide.
Chemical giant eyes bigger presence in China
The Dow Chemical Co. says it will continue to make investment in China, eyeing business opportunities emerging from the country’s ongoing economic transformation.
South Korea prosecutors accuse Samsung chief of bribery, seek arrest
South Korea’s special prosecutor’s office said on Monday it was seeking a warrant to arrest the head of Samsung Group , the country’s largest conglomerate, accusing him of paying multi-million dollar bribes to a friend of President Park Geun-hye. Samsung Electronics vice chairman Jay Y. Lee arrives to attend a hearing at the National Assembly in Seoul, South Korea, December 6, 2016.
Samsung leader quizzed for over 22 hours in South Korea corruption scandal
A protester sweeps an effigy of Jay Y. Lee, co-vice-chairman of Samsung Electronics Co., outside Samsung’s Seocho office building in Seoul, South Korea, on Friday, Jan. 13, 2017. Prosecutors questioned Samsung vice-chairman and heir apparent Jay Y. Lee for about 22 hours in an influence-peddling probe that has reached the highest levels of government and business in South Korea.
Why Exxon Mobil Will Have A Break-Out Year
As XOM ramps up its low-cost production fully, it will be able to enhance both its revenue and earnings in light of a stronger oil pricing environment. XOM is set to fully ramp-up 450,000 boepd of low-cost production this year, which is expected to achieve break-even at an oil price of only $40 per barrel.