Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread more
Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has...Marketing.Media.Moneyread more
Stocks in Asia traded mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.Asia Marketsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The outlook for Germany's economy and political stability are more uncertain than ever, writes Michael Ivanovitch.World Economyread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
WASHINGTON, Feb 5 (Reuters) - Qatar Petroleum and Exxon Mobil Corp will proceed with a $10 billion project to expand a liquefied natural gas (LNG) export plant in Texas, Exxon said on Tuesday.
Construction of the Golden Pass LNG project, in Sabine Pass, Texas, is expected to begin in early 2019. The project will add production capacity of around 16 million tonnes of LNG per year after it starts up in 2024.
Reuters had first reported details of the deal on Feb. 1, based on sources familiar with the matter.
"Golden Pass will provide an increased, reliable, long-term supply of liquefied natural gas to global gas markets, stimulate local growth and create thousands of jobs, said Exxon Chief Executive Darren Woods in a press release.
Executives from Exxon and Qatar Petroleum were due to make a joint announcement with U.S. Energy Secretary Rick Perry Tuesday afternoon, the Energy Department said on Monday.
Worldwide consumption of LNG is expected to more than double to 550 million tonnes a year (mtpa) by 2030, triggering a race among oil and gas companies eager to dominate the market.
The expansion is part of Qatar Petroleum's plans to invest about $20 billion in the United States as the company seeks to increase its overseas oil and gas business.
Qatar, a tiny but wealthy country, is one of the most influential players in the LNG market with annual production of 77 million tonnes. It plans to boost capacity 43 percent by 2023-2024.
Currently, Exxon has a 30 percent stake in Golden Pass and Qatar Petroleum holds a 70 percent stake. The two have been strengthening a global alliance across LNG projects from the United States to Mozambique.
The Golden Pass project is one of many that could be approved this year. Companies are expected to make final decisions on projects that could add more than 60 million tonnes per annum of LNG capacity this year.
Qatar left the Organization of the Petroleum Exporting Countries last year, allowing it to expand in the United States without concerns about proposed legislation that could limit OPEC members' investments in the country. (Reporting by Timothy Gardner; Editing by Steve Orlofsky)