Chevron, Occidental Petroleum and BHP have invested in Carbon Engineering, a start-up developing technology to take carbon out of the atmosphere. Source: NYT > Business – CLIFFORD KRAUSS
A Key to the Arctic’s Oil Riches Lies Hidden in Ohio
The findings of a test well drilled in Alaska three decades ago have been a closely guarded secret. We found the surprising truth in a Cleveland courthouse. Source: NYT > Business – STEVE EDER and HENRY FOUNTAIN
Saudi Aramco’s Profit Exceeded $110 Billion Last Year, Report Says
Earnings at Saudi Arabia’s giant oil company, reported by Moody’s, far outstripped the profits of giant tech companies or rival oil producers. Source: NYT > Business – STANLEY REED
China Purchases Could Undercut Trump’s Larger Trade Goal
A trade deal could result in China promising to buy hundreds of billions of dollars of American products. It could further cement Beijing’s role in the economy. Source: NYT > Business – ANA SWANSON and KEITH BRADSHER
Wow, an Icelandic Budget Airline, Suspends Service
Efforts to raise money had failed, prompting the company to cease all flights on Thursday morning. Source: NYT > Business – AMIE TSANG
DealBook Briefing: Saudi Arabia Wanted Cash. Aramco Just Obliged.
Saudi Arabia’s giant oil company announced yesterday that it had bought 70 percent of the kingdom’s state-controlled petrochemical company for $69 billion. Source: NYT > Business –