SK Innovation Co., South Korea's leading refiner by sales, said Monday its net losses widened in the first quarter from a year earlier due mainly to foreign-exchange losses. Net losses deepened to 97.62 billion won ($71 million) in the first quarter from 51.95 billion won in the year-ago period, the company said in a statement. "A weak won, which drove up import prices of crude oil and decreased equity gains from SK On, weighed on the quarterly bottom line," a company spokesperson

South Korea's economy expanded at a much faster pace than expected in the first quarter of this year, offering relief to those concerned about the severe slump experienced last year persisting for an extended period. This news is especially welcome for a country still grappling with domestic instability and uncertain global geopolitics. However, beyond the social and political instability at home and longstanding global geopolitics, there are other pressing issues that demand attention: t

Consumption of standard coal is cut by 3,234 tons, with CO2 emissions reduced by 8,409 tons. Water usage decreased by 40%. The Company's investment in environmental protection increased to 70 million RMB. Shanghai Electric continues to lead in green technology, achieving multiple breakthroughs in low-carbon technological innovation, with investment in R&B hitting a five-year record high. SHANGHAI, April 28, 2024 /PRNewswire/ -- Shanghai Electric (SEHK:2727, SSE:601727) announced th

BANGKOK, April 26, 2024 /PRNewswire/ -- As a leader in the energy and retail landscapes with operations across 11 countries, PTT Oil and Retail Business Public Company Limited ("OR") is set to launch a series of strategic initiatives in 2024 aimed at fostering innovation, promoting sustainability, and expanding its international presence. Building on a solid foundation of growth and sustainability achievements, OR remains committed to enhancing community well-being and environmental st

HONG KONG, April 25, 2024 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) today announced its operating results for the first quarter of 2024. In the first quarter, the Company pressed ahead with oil and gas exploration and development, advanced the enhancement of quality and efficiency, and consolidated its advantage of cost competitiveness. Net production of oil and gas and net profit attributable to equity s

On the 25th, announced 1Q revenue of 7.8 trillion won and operating profit of 265 billion won Stable profit structure of the energy business value chain and increased sales to the eco-friendly industry customers contributed to profit growth Secured a stable cash flow foundation to support future investment and improve shareholder returns SEOUL and INCHEON, South Korea, April 25, 2024 /PRNewswire/ -- Despite the ongoing global economic slowdown due to high interest rate and increased

A North Korean minister has embarked on a rare public visit to Iran, drawing scrutiny over the potential expansion of illicit cooperation between the two countries that have been under comprehensive international sanctions, especially amidst simmering tensions in the Middle East. North Korean state media confirmed Wednesday that Yun Jong-ho, minister of external economic relations, departed Pyongyang the previous day to lead a North Korean government economic delegation to Iran. North Korean sta

HANNOVER, Germany, April 23, 2024 /PRNewswire/ -- For the first time in five years, Shanghai Electric ("the Company) (SEHK:2727, SSE:601727) is returning to Hannover Messe, the world's leading industrial trade fair, bringing its innovative industrial equipment solutions to European and global industry peers, along with its signature energy equipment solutions. At the five-day event, Shanghai Electric will be exhibiting at Hall 12, Stand D66 of the Hannover Exhibition Center, where the Compa

Chula researchers use forage grass to feed microorganisms and convert the resulting fat into jet fuel, aiming to replace petroleum-based energy and reduce impacts on human health and the environment.  BANGKOK, April 23, 2024 /PRNewswire/ -- The "Development of scaling-up technology for production of microbial lipid for biojet fuel synthesis" research project led by Prof. Dr. Warawut Chulalaksananukul and Asst. Prof. Dr. Chompunuch Glinwong from the Department of Botany, Faculty

Expectations are mounting for the first-ever official face-to-face meeting between President Yoon Suk Yeol and the Democratic Party of Korea's leader Lee Jae-myung, which could take place as early as this week. The meeting would be a crucial political event that could shed light on how the country’s key agenda items will be prioritized after the April 10 general election. On Friday, Yoon proposed the meeting in a call to Lee. Since then, the two sides have been coordinating the detail

The inaugural 'Global Energy Transition Impact Award' recognizes visionary leadership in advancing the energy transition and in uniting the world around the historic UAE Consensus In his acceptance speech Dr. Sultan Al Jaber, COP28 President, said, that the award was recognition of the vision and commitment of the UAE leadership, highlighting their role in promoting a responsible energy transition and in achieving the UAE Consensus. Dr. Al Jaber was presented the award by Dr. Angela Wilki

South Korea's exports rose 11.1 percent on-year in the first 20 days of April on surging global demand for semiconductors, data showed Monday. Outbound shipments reached $35.82 billion in the April 1-20 period, compared with $32.25 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports also advanced 11.1 percent on-year to $2.31 billion. Imports grew 6.1 percent on-year to $38.5 billion during the first 20 days of April, resulting in a trade de

South Korea's food inflation spiked to 6.95 percent in February, the third-highest among member countries of the Organization for Economic Cooperation and Development. The OECD statistics for February announced Sunday reveal that Korea ranks third among 38 OECD member countries in terms of food and non-alcoholic beverage inflation, trailing only Turkey with 71.12 percent and Iceland with 7.52 percent. This marks the first time in over two years that Korea's food inflation has exceeded

Bank of Korea Governor Rhee Chang-yong, during his visit to the United States, projected the volatility of the won-dollar exchange rate would ease if the Middle East tension did not escalate further. The won-dollar exchange rate has been fluctuating heavily over the past few weeks, influenced by the strong demand for the greenback, with the anticipation that the US Federal Reserve will continue its aggressive monetary tightening due to the hotter-than-expected inflation readings. The strong safe

Doubts have been raised over Samsung Group’s latest decision to make the executives of its key tech affiliates -- Samsung Electronics, Samsung SDI, Samsung SDS and Samsung Display -- work an extra day per week as part of the group's emergency measures to tackle ongoing business uncertainties. Critics pointed out that the six-day workweek for executives is "outdated and inefficient," and that it lies in contrast to other local Big Tech firms who are following the global trend