How China took control of an OPEC country’s oil (Nov 2013)

oil-field

Source: Reuters – How China took control of an OPEC country’s oil

Notable excerpts:

China’s aggressive quest for foreign oil has reached a new milestone, according to records reviewed by Reuters: near monopoly control of crude exports from an OPEC nation, Ecuador.

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JPMorgan to Pay $410 Million in U.S. FERC Settlement (Jul 2013)

jpmorgan

Source: Bloomberg – JPMorgan to Pay $410 Million in U.S. FERC Settlement

Notable excerpts:

JPMorgan Chase & Co. (JPM) will pay $410 million to settle U.S. Federal Energy Regulatory Commission allegations that the bank manipulated power markets, enriching itself at the expense of consumers in California and the Midwest from 2010 to 2012.

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J.P. Morgan to Sell Commodities Business (Jul 2013)

jpmorgan

Source: WSJ – J.P. Morgan to Sell Commodities Business

Notable excerpts:

The largest U.S. bank is getting out of the power-plant and warehouse business, amid heightened regulatory scrutiny of Wall Street’s ownership of such assets.

J.P. Morgan Chase & Co. said Friday it is putting its physical commodities operation up for sale, a major retreat for a company that last decade made a costly and bold effort to become No. 1 in the commodities field.

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China And Nigeria Sign $1.1bn Deal (Jul 2013)

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Source: BBC News – China and Nigeria sign $1.1bn deal

Notable excerpts:

China has agreed to give Nigeria a $1.1bn (£700m) low-interest loan to build much-needed infrastructure.

The deal was struck during Nigerian President Goodluck Jonathan’s meeting with Chinese President Xi Jinping in Beijing on Wednesday.

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