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Developer Of Automated Cargo Planes Draws $100 Million Investment
The Series C round was led by New York-based Coatue Management, whose investment portfolio includes Rivian and Lime.
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Oil Prices Rise To Three-Year High On Back Of Supply Deficit Forecasts
Demand has picked up with the recovery from the COVID-19 pandemic, with a further boost from power generators who have been turning away from expensive gas and coal to fuel oil and diesel.
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India's HPCL Chair Says 'High' Crude Prices Could Weigh On Fuel Demand
Oil futures have been trading near multi-year highs due to a global energy supply crunch, with the Brent crude benchmark at $84.30 a barrel on Wednesday.
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Evergrande's Swedish Electric Vehicle Unit In Sale Talks, CEO Says
The Chinese property developer has spent billions of dollars on stakes in automobile technology developers, including NEVS.
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TotalEnergies Looking Into EV Charging Points In India, Says CEO
TotalEnergies is looking at investing in electric vehicle charging points in India as well as low-carbon hydrogen in India, said Chief Executive Patrick Pouyanne on Wednesday.
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Indian Refiners' Crude Processing Ticks Up On Firm Demand
On a year-on-year basis, refiners' crude oil throughput in September rose about 2.9%, while crude oil production fell about 1.7% to around 600,000 bpd (2.44 million tonnes), the data showed.
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BMW To Phase Out Fossil-Fuel Burning Engines From Main Plant By 2024
By 2023 at least half the vehicles produced in Munich would be electrified - either battery electric or plug-in hybrid, the company said.
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India's September Vehicle Sales Hit By Chip Shortage
The chip shortage has forced several companies to curtail production in the run-up to a month-long festive season in India, during which people typically make big-ticket purchases, including vehicles.
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TSMC Announces Chip Plant In Japan, Flags 'Tight' Capacity Throughout 2022
TSMC said it would set up a chip plant in Japan that will use older chipmaking technology, a segment currently under a severe supply shortage due to robust demand from automakers and tech companies.
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Hyundai Motor's Q3 Profit Misses Estimates As Chip Shortage Takes A Toll
The automaker said the global chip shortage would last until the end of this year or into next year, and it expected it would take a long time to get back to normal.
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Indian Oil Defers Maintenance Shutdown Of Units At Haldia: Report
This source said the shutdown has been deferred to meet higher demand for diesel and petrol during the festival season.
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Oil Market Still Faces Uncertainties Due To COVID-19, OPEC Chief Says
The oil market continues to face uncertainties stemming from the COVID-19 pandemic, said OPEC Secretary-General Mohammad Barkindo.
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Oil Prices Rise, As Saudis Dismiss Supply Concerns As Demand Grows
Oil demand is set to rise by half a million barrels per day (bpd) as the power sector and heavy industries switch from more expensive sources of energy, the IEA said.
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Exxon Looks To Buy Stake In ONGC's Indian Deep Sea Fields
Oil secretary Tarun Kapoor said Exxon would either take a stake in the Indian fields or form a joint venture with ONGC to operate them.
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India's Diesel Sales Fall In October, Data Shows
Diesel sales by the country's state fuel retailers came in at 2.4 million tonnes during Oct. 1-15, a decline of about 9.2% from last year and down 0.9% from the same period in 2019, the data showed.
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Oil Hovers Below Recent Highs, Ends Week Up
Brent crude futures rose 92 cents, or 1.1%, to settle at $85.53 a barrel. The benchmark, which touched a three-year high of $86.10 on Thursday, was up 1% in the week, its seventh weekly gain.
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Oil Prices Reach Multi-Year Highs On Tight Supply
Oil prices have also been bolstered by worries over coal and gas shortages in China, India and Europe, which spurred fuel switching to diesel and fuel oil for power.
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Tesla Zooms Past $1 Trillion Market Cap On Bet That The EV Future Is Now
Tesla is the first carmaker to join the elite club of trillion-dollar companies that includes Apple Inc, Amazon.com Inc, Microsoft Corp and Alphabet Inc.
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GM, Ford Results Likely To Reflect Chip Shortage's Varying Impacts On Sector
GM and Ford have had to bring some assembly lines to a halt for lack of semiconductors, and contend with rising costs for other parts and raw materials as well as shipping.
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Tesla Opens New China Research, Data Centers; Will Store Data Locally
The auto research and development center, Tesla's first outside the United States, employs engineers for software, electronics, materials and charging, it said in a statement.
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