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“>”The acquisition of Raj Petro Specialities supports Shell Lubricants as it strives to grow its portfolio and customer base in India, which is one of its key growth markets,” it said in a statement.Shell Lubricants completed the acquisition of Raj Petro Specialities, strengthening its lubricants portfolio and customer base, the company said on Tuesday. Without disclosing financial details of the transaction, Shell said it has acquired 100 per cent equity interest in Raj Petro Specialities Pvt Ltd from the Brenntag Group.”The acquisition of Raj Petro Specialities supports Shell Lubricants as it strives to grow its portfolio and customer base in…

A U.S. judge has ordered Argentina’s government to transfer its 51% stake in energy major YPF to two former minority shareholders who sued after the nationalization of the company.Back in 2012, Argentina seized 51% of YPF from its owner, Spanish Repsol. But YPF also had two smaller shareholders, Petersen Energia Inversora and Eton Park Capital, Reuters recalls in a report on the new ruling. These two sued in the United States, and in 2023, District Judge Loretta Preska ruled in favor of the plaintiffs, ordering Argentina to pay damages worth some $16 billion.In that ruling, Judge Preska said Argentina had…

Sometime last year, Ian Lamont’s inbox began piling up with inquiries about a job listing. The Boston-based owner of a how-to guide company hadn’t opened any new positions, but when he logged onto LinkedIn, he found one for a “Data Entry Clerk” linked to his business’s name and logo.Lamont soon realized his brand was being scammed, which he confirmed when he came across the profile of someone purporting to be his company’s “manager.” The account had fewer than a dozen connections and an AI-generated face. He spent the next few days warning visitors to his company’s site about the scam…

Key eventsShow key events onlyPlease turn on JavaScript to use this featureParis-Milan high speed line suspended after violent stormsTrain travel between France and Italy is suspended for “at least several days” after violent storms earlier in the week, French national operator SNCF said, AFP reported.The storms on Monday in southeastern France have forced a clean-up operation during which SNCF will check there has been no damage to tracks on the Paris-Milan high speed line which would prolong the closure, it said.ShareItaly adopts measures to deal with heatIn Italy, some regions, including Lazio and Lombardy, adopted new rules seeking to protect…

Oil marketing companies have cut the price of 19 kg commercial LPG gas cylinders by ₹58.50, effective 1 July. In Delhi, this brings the new price down to ₹1,665 per cylinder.Meanwhile, price of jet fuel (ATF) was sharply increased by 7.5 per cent after three rounds of price cuts.Aviation turbine fuel (ATF) prices have been raised by ₹6,271.5 per kilolitre, or 7.5%, reaching ₹89,344.05 per kilolitre in the national capital, which is home to one of the busiest airports in India, according to state-owned fuel retailers. This price hike comes as a significant reversal, accounting for half of the total…

India has more than doubled its crude oil imports from the United States since the start of this year as it seeks to avoid devastating tariffs under President Donald Trump’s plan to “fix” trade imbalances with foreign partners.The FT reported today, citing official data, that India had reduced purchases of Russian, Saudi, and Iraqi oil by as much as 70% in the first four months of the year, while imports from the U.S. rose by 120%. Still, Russia remains India’s biggest oil supplier, followed by Iraq and Saudi Arabia, with the United States replacing the UAE to become the country’s…

AI isn’t all doom and gloom for jobs, said Amazon’s Andy Jassy.In an interview with CNBC published on Monday, the Amazon CEO deemed AI “the most transformative technology in our lifetime.” He said that it would change things not only for Amazon customers but also for its employees.Jassy said that AI technologies would create jobs in at least two areas of the company.”With every technical transformation, there will be fewer people doing some of the jobs that the technology actually starts to automate,” he said. “Are there going to be other jobs? We’re going to hire more people in AI…

Malaysian oil and gas contractor Sapura Energy Bhd.’s restructuring plan to restore financial stability is entering its “final stages,” according to the company’s first-quarter earnings statement. Regulator Bursa Malaysia’s approval of the blueprint to restructure debt puts the company on a path to exit its financially distressed classification set by Malaysia’s stock exchange, the company said. The country’s anti-graft agency said in March it was investigating the cash-strapped company, which reported a net loss in the quarter ended in April, for alleged misappropriation of funds. Prime Minister Anwar Ibrahim said that month he ordered an audit of the firm and…

Equinor ASA and its partners have agreed on a NOK-13 billion ($1.29 billion) investment to proceed with the third phase of Johan Sverdrup to increase recoverable volumes from the North Sea field by 40-50 million barrels of oil equivalent (boe). The majority state-owned energy major said Tuesday the consortium had submitted a development plan to Norwegian authorities. Phase 3 is targeted to start production 2027. Phase 3 is designed to have two new subsea templates in the Avaldsnes and Kvitsoy areas, each with six well slots. However, phase 3 would only develop eight wells, consisting of seven for production and…

The first cargo of liquefied natural gas has left Canada’s only export facility, LNG Canada, operator Shell said, adding the main market for its Canadian LNG will be Asia.Backed by Shell, Petronas, PetroChina, Mitsubishi, and Kogas, LNG Canada, in Kitimat, British Columbia, will eventually ramp up to 14 million tonnes per annum. That capacity is expected to redirect a portion of Canadian gas exports—currently flowing almost entirely to the U.S.—toward global markets. The price tag of the project is $40 billion. For now, however, production capacity from the first train of LNG Canada is 5.6 million tons per annum.The project…