Canada’s Suncor CEO sees electric vehicles disrupting oil demand as much as coronavirus

TORONTO (Reuters) – The shift to electric vehicles and other low-carbon technologies could disrupt crude oil demand on a similar scale to the coronavirus pandemic, Suncor Energy Inc’s (SU.TO) chief executive said on Monday.

FILE PHOTO: Suncor Energy facility is seen in Sherwood Park, Alberta, Canada August 21, 2019. REUTERS/Candace Elliott/File Photo

The comments are a stark prediction in an industry that frequently downplays the impact of electrification and points to forecasts of rising global oil demand to justify new investment and pipeline expansions.

Canada is the world’s fourth-largest oil producer and the sector accounts for 10.6% of the country’s gross domestic product.

“While Canadian oil and gas will remain a significant part of the global energy mix for some time, we have to take advantage of new opportunities that offer attractive growth prospects,” Suncor CEO Mark Little said in an opinion article for Canada’s Corporate Knights magazine.

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Armed with disinfectant and admonishments, South Korean robot fights coronavirus spread

SEOUL (Reuters) – A self-driving robot equipped with cameras and an LED screen greets visitors at the lobby in the headquarters of South Korea’s largest mobile operator, checking their temperature, dispensing hand sanitiser and disinfecting the floor.

A self-driving robot checks the body temperature of an employee during its demonstration at the headquarters of SK Telecom in Seoul, South Korea, May 26, 2020. Picture taken on May 26, 2020. REUTERS/Kim Hong-Ji

“Please take part in social distancing,” the white robot firmly but politely reminds three SK Telecom employees who stand chatting nearby.

Corporate Korea has long been used robotics for tasks including manufacturing and cleaning, but the technology is getting a boost as more companies strive to reduce human contact amid coronavirus concerns.

Having largely managed to contain an epidemic that infected more than 11,000 and killed 269, South Korea is transitioning from intensive social distancing towards what the government

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Samsung to add new memory chip line in South Korea as COVID-19 boosts demand

FILE PHOTO – The logo of Samsung Electronics is seen at its office building in Seoul, South Korea January 7, 2019. Picture taken January 7, 2019. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – Samsung Electronics Co Ltd said on Monday it has begun construction of a new domestic production line for NAND flash memory chips, betting on demand for personal computers and servers as the coronavirus prompts more people to work from home.

The world’s largest memory chip maker is targeting the second half of next year to mass produce the chips, used for storage, on the added line in its plant in Pyeongtaek city, which is within a two-hour drive from the capital Seoul.

Samsung said the additional capacity will also help meet demand for 5G smartphones and other devices, despite recent delays in deployments of 5G networks in Europe and other countries due to the health crisis.

While the company

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Netease aims to raise $2-$3 billion in Hong Kong listing

HONG KONG (Reuters) – Chinese tech group Netease Inc aims to raise between $2 and $3 billion in one of the largest equity deals so far this year when it launches a secondary listing in Hong Kong on Monday, said three people familiar with the transaction.

The offering from the Chinese online gaming company is expected to be one of several large secondary listings in the city this year, as rising tension between the United States and China have led Washington to question whether Chinese companies should be able to list in New York.

Netease will start the institutional book build on Monday and the retail offering will run until the end of the week, the sources told Reuters. They asked not to be named as the information has not been made public.

Netease declined to comment on the listing process.

In its filings to the Hong Kong Stock Exchange,

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