Stellantis CEO says Italy’s hard line on incentives is hurting output
ATESSA, Italy (Reuters) -Italy’s penny-pinching approach to incentives has meant several months of reduced automotive production, the head of Stellantis, the country’s sole major automaker, said on Tuesday. “Stellantis has been asking…
Exxon, BHP to invest $291 million to expand gas output off Australia
By Sonali Paul and Sameer Manekar MELBOURNE -Exxon Mobil Corp and BHP Group said on Thursday they will go ahead with a project to boost gas output from their Gippsland Basin Kipper…
Air Lease warns on jet output, urges Boeing to develop new model
– Leasing pioneer Steven Udvar-Hazy cast doubt on the production ambitions of leading planemakers on Wednesday and called on Boeing to revisit longer-term plans for a new mid-market jet with 200-plus seats…
German debt to reach some 70% of output this year – Lindner
BERLIN – Germany’s public debt will be around 70% of economic output this year and will fall to no more than the 60% ceiling set by the European Union in the second…
Euro zone industry output flat in sluggish start to 2022
BRUSSELS – Euro zone industrial production was unchanged in January from December, data showed on Tuesday, indicating a sluggish start to 2022 even before any impact from Russia’s invasion of Ukraine, which…
Venezuela could add 400,000 bpd to oil output if U.S. approves licenses -petroleum chamber
By Mayela Armas CARACAS – Venezuela’s oil output could rise by at least 400,000 barrels per day (bpd) if the United States authorizes requests by state-run PDVSA’s partners to trade Venezuelan crude,…
Italy industry output dives, growth outlook weakens
By Gavin Jones ROME – Italian industrial output posted its steepest fall for more than a year in January, data showed on Wednesday, as the growth outlook for the euro zone’s third…
Russia’s Feb oil output rises, trading paralysed by sanctions
– Russia’s oil and gas condensate output rose in February to 11.06 million barrels per day (bpd), according to Reuters calculations based on an Interfax report on Wednesday, while trading has been…
OPEC’s Feb oil output boost exceeds target for first time in months -survey
By Alex Lawler LONDON – The increase in OPEC’s oil output in February exceeded the rise planned under a deal with allies for the first time since September, a Reuters survey found,…
Volkswagen’s Skoda limits some output due to Ukraine, production in Russia still running
PRAGUE – Czech carmaker Skoda Auto, part of Volkswagen, will limit some production at its domestic plants due to supply shortages after Russia’s invasion of Ukraine, while it said its Russian operations…
Sime Darby Plantation posts Q4 profit, says output to pick up
KUALA LUMPUR – Malaysia’s Sime Darby Plantation Berhad reported a higher fourth-quarter net profit on Friday, fuelled by rising prices of palm oil, and said it expected production to pick up in…
Honda says domestic output capacity reduced until March
TOKYO – Honda Motor said on Thursday that two of its domestic manufacturing sites will operate at 90% of capacity until early March due to a shortage of semiconductors. Honda’s Saitama factory…
U.S. manufacturing output rises moderately in January
WASHINGTON – Production at U.S. factories increased moderately in January as motor vehicle output fell for a second straight month amid an ongoing global shortage of semiconductors. Manufacturing output gained 0.2% last…
Shares of Continental Resources tank amid higher 2022 capex, lower output view
– Shares of independent shale driller Continental Resources fell more than 8% on Tuesday, outpacing declines in the broader energy complex, after the company’s 2022 spending outlook topped expectations and its output…
Apache aims to boost oil and gas output in Egypt, says CEO
CAIRO – Apache aims to raise its oil and gas output in Egypt by 10% to 15% within five years, CEO and President John Christmann told Sky News Arabia on Monday. (Reporting…
Ford suspends or cuts output at plants due to chip shortage
DETROIT – Ford Motor Co said on Monday it will continue idling some of its assembly plants in the week of Feb. 14 due to the global semiconductor shortage. The U.S. automaker…
Ford to suspend or cut output at 8 of its factories due to chip shortage
SAN FRANCISCO – Ford Motor plans to suspend or cut production at eight of its factories in the United States, Mexico and Canada throughout next week because of chip supply constraints, a…
Nippon Steel to seek more merger chances to boost global output
TOKYO – Japan’s top steelmaker Nippon Steel Corp is seeking more merger and acquisition (M&A) opportunities to boost its global output capacity to 100 million tonnes, an executive said on Thursday, after…
Japan Dec factory output seen down slightly for first time in 3 months – Reuters poll
TOKYO – Japan’s factory output likely slid in December for the first time in three months due to lingering supply bottlenecks, a Reuters poll showed. Meanwhile, retail sales were seen growing for…
OPEC+ expected to stick to planned March output target increase, sources say
LONDON/DUBAI/MOSCOW – OPEC+ will probably stick with a planned increase in its oil output target for March when it meets on Wednesday next week, several sources from the producer group said, as…
Global steel output grows 3.7% in 2021 despite Chinese weakness
LONDON – Global crude steel production gained 3.7% last year to 1.95 billion tonnes, World Steel Association data showed on Tuesday, despite weaker output in top producer China as an energy crunch…
Global Oil Supply Set To Surpass Demand Despite Omicron As US Producers Boost Output
Global crude oil production is forecasted to outpace demand beginning in December and into 2022, a key monthly industry report said. The oil supply is expected to receive a boost from producers…
Oil Prices Skyrocket To Seven-Year High After OPEC Announces Gradual Output Boost
The price of oil surged Monday after the Organization of the Petroleum Exporting Countries (OPEC) doubled down on its plans to increase oil output at a gradual rate. West Texas Intermediate (WTI)…
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