- Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc , the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
Rosneft, Exxon sign unconventional oil deal
TUAPSE, Russia |
TUAPSE, Russia (Reuters) - Rosneft (ROSN.MM) and ExxonMobil (XOM.N) signed a deal on Friday on joint development of Western Siberia's substantial tight oil resources, a Reuters correspondent reported from the ceremony.
Tight and shale oil development in both Russia and North America are covered in a partnership agreement signed in April by the Russian state owned company and the American major as part of an exploration partnership centered on the Russian Arctic.
ExxonMobil CEO Rex Tillerson was with Rosneft head Igor Sechin on Friday in the Black Sea refinery town of Tuapse, where Rosneft was presenting its strategy to President Vladimir Putin.
(Reporting by Vladimir Soldatkin; Writing by Melissa Akin; Editing by Katya Golubkova)
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