Today the Wall Street Journal published a great piece on efforts by leading automakers such as Honda, Nissan, and General Motors to develop cheap cars for China’s millions. These auto industry leaders are all collaborating with local, often state-owned Chinese companies to develop and produce cheap, small cars costing anywhere from $4,000 to $14,000. While pessimists […]
Shell may sell its refineries to Essar
Shell is discussing the sale of its three European refineries to Essar, as discussed in a previous post, at $4,000 to $5,000 per barrel of capacity. While valuation will depend on the three refineries’ individual configurations and complexity, the transaction is at a significant discount from the industry’s Golden Age. The three refineries with more […]
European refineries on sale
Several refineries are being sold in Europe — see table below based on Reuters data — because of moderating demand for fuels, the resulting overcapacity, growing share of biofuels, and anticipated expense associated with reducing carbon emissions. It is interesting that most bidders are the emerging economies such as India, China, and Russia, where rapid economic […]
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