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2017-06-30 08:30:00

U.S. - S.KOREA BUSINESS

U.S. - S.KOREA BUSINESS

PE - South Korean companies announced  plans to import more American shale gas and build new factories in the U.S. as the two countries' leaders prepare to hold summit talks in Washington where trade is expected to be a key issue.

The Korea Chamber of Commerce and Industry, South Korea's largest business association, said Thursday that major South Korean companies had proposed a slew of new investments ahead of President Moon Jae-in's meetings Friday with President Donald Trump.

South Korean businesses are highlighting investments and other plans that will help create jobs in the U.S. as the Asian country fends off criticism over a growing trade imbalance in its favor.

Electronics conglomerate Samsung Electronics said earlier this week it plans to spend $380 million to build a new home appliance factory in South Carolina. It also will spend $1.5 billion on its semiconductor plant in Texas. LG Electronics said it will put $250 million into building a new washing machine plant in Tennessee and $300 million on a new building in New Jersey.

SK Group signed a preliminary agreement with GE and Continental Resources earlier this week to jointly develop U.S. shale gas. The group, which owns South Korea's largest mobile carrier and the country's second-largest semiconductor company, said it will import American liquefied natural gas and liquefied petroleum gas starting in 2020 to help diversify its energy imports.

GS Group plans to start importing American shale gas worth $220 million for 20 years starting in 2019. Hanjin Group, parent company of flag carrier Korean Air Lines, said it plans to purchase 50 additional planes from Boeing over the next seven years.

The U.S. trade deficit with South Korea has nearly doubled since a bilateral trade agreement took effect in 2012, and Trump took aim at the trade deal while campaigning for president.

Total two-way trade totaled $144.6 billion last year, with the U.S. running a $17 billion deficit.

The White House official said Trump would call for the lifting of barriers to U.S. auto sales in South Korea and voice concern over steel exports from China that reach the U.S. via South Korea.

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Earlier:

USA: 

DOUBLE U.S. OIL EXPORTS 

IMF: U.S. ISN'T WORKING WELL 

U.S. OIL DEMAND UP 4.9% 

U.S. RENEWABLE ENERGY 

U.S. RIGS UP 8 TO 941 

U.S. FEDERAL FUNDS RATE 1.25% 

U.S. OIL GAS PRODUCTION WILL UP ANEW

 

S.KOREA: 

LNG OVERSUPPLY 

SOUTH KOREA'S LNG DOWN 

OIL & GAS WEAKNESS 

THE LARGEST LNG IMPORTERS 

ASIAN LNG IMPORTS UP 

S.KOREA'S OIL UP 4.5% 

ASIAN LNG DOWN 5%

 

 

 

Tags: USA, KOREA, GAS, INVESTMENT
U.S. - S.KOREA BUSINESS September, 21, 11:00:00

OIL PRICE: NEAR $79 STILL

U.S. - S.KOREA BUSINESS September, 21, 10:55:00

RUSSIA'S OIL PRODUCTION: 11.3 MBD

U.S. - S.KOREA BUSINESS September, 21, 10:45:00

UNEXPECTED OIL PRICES

U.S. - S.KOREA BUSINESS September, 21, 10:40:00

OIL MARKET UNCERTAINTY

U.S. - S.KOREA BUSINESS September, 21, 10:35:00

OPEC-NON-OPEC DECISIONS

U.S. - S.KOREA BUSINESS September, 21, 10:30:00

U.S. CAPITAL EXPENDITURES UP

All Publications »

Chronicle:

U.S. - S.KOREA BUSINESS
2018, September, 21, 10:25:00

U.S. ENERGY CASH: $119 BLN

U.S. EIA - Energy companies’ free cash flow—the difference between cash from operations and capital expenditure—was $119 billion for the four quarters ending June 30, 2018, the largest four-quarter sum during 2013–18 Companies reduced debt for seven consecutive quarters, contributing to the lowest long-term debt-to-equity ratio since third-quarter 2014

U.S. - S.KOREA BUSINESS
2018, September, 21, 10:20:00

WORLD OIL DEMAND: 100.23 MBD

OPEC - Total oil demand for 2018 is now estimated at 98.82 mb/d. In 2019, world oil demand growth is forecast to rise by 1.41 mb/d. Total world oil demand in 2019 is now projected to surpass 100 mb/d for the first time and reach 100.23 mb/d.

U.S. - S.KOREA BUSINESS
2018, September, 21, 10:15:00

IRAQ'S OIL: NO RECORD

ARAB NEWS - Oil exports from southern Iraq are heading for a record high this month, two industry sources said, adding to signs that OPEC’s second-largest producer is following through on a deal to raise supply and local unrest is not affecting shipments.

U.S. - S.KOREA BUSINESS
2018, September, 21, 10:10:00

NATURAL GAS EXPORT UP

PLATTS - The International Energy Agency expects the US to account for 75% of the global growth in natural gas exports over the next five years, a bullish outlook for LNG developers facing challenges at home getting projects off the ground and abroad with tariffs affecting trade flows.

All Publications »