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“We have already reached a resolution with Chinese customs, and we are working closely with them to resume clearance procedures on these vehicles,” a Tesla spokesperson said in a statement. “Sales of Model 3 in the country are not impacted, and we continue to deliver Model 3 vehicles that have already been processed.”. Making inroads into China, the world’s largest electric vehicle market, is crucial for the Tesla as it seeks to offset softening demand in the United States and convince investors of its ability to become consistently profitable.
“Selling into China has clear hurdles and this is a reminder black panther cufflinks and tie bar gift set of the pitfalls when betting on growth in the region,” Wedbush Securities analyst Daniel Ives said, Musk has played up the support Tesla is getting from Chinese authorities as the company invests in the country’s first wholly foreign-owned car plant in Shanghai, due to come online later this year, Until then, Tesla has to import U.S.-made cars with substantial customs duties, putting it at a disadvantage against locally-made, government-subsidized electric vehicles from rivals such as Nio Inc, Byton and XPeng Motors..
Financial publication Caixin had first reported about China’s customs authorities blocking the cars. A total of 1,171 Model 3 sedans arrived at north China's Tianjin Port, after 84 such cars were imported via the port in February, China's state news agency Xinhua reported here on Tuesday. The first shipment of Model 3 cars arrived in Shanghai on Feb. 22, and deliveries started at the end of the month, according to media here reports. Tesla’s Shanghai factory, made possible by raising funds from local banks at low interest rates, plans to start making Model 3s at the end of this year and eventually produce cars at a rate of 10,000 per week.
NEW YORK (Reuters) - The two biggest U.S, oil companies tried to outdo each other on Tuesday, boasting about their prowess in shale to lure investors to their black panther cufflinks and tie bar gift set side, Chevron Corp and Exxon Mobil Corp released dueling Permian Basin projections that, if realized, would cement the rivals as the dominant players in the West Texas and New Mexico field, with one-third of Permian production potentially under their control within five years, Chevron expects shale production from the basin to reach 600,000 barrels per day (bpd) by the end of next year, 59 percent above current production, and 900,000 bpd by the end of 2023, it said at its annual meeting with equity analysts in New York..
The stakes are such that Exxon on Tuesday forecast shale production of 1 million barrels per day in the Permian as early as 2024, grabbing the spotlight on the day Chevron was making a case in its oil growth. “Our investors don’t need to wait several years for the story to come together,” Chevron Chief Executive Mike Wirth said in an apparent dig at Exxon, which has been investing heavily in the Permian to reverse production declines. “We’re delivering now.”. The Permian Basin pumps around 4 million barrels per day now and IHS Markit expects it to hit 5.4 mbd in 2023, more than the total production of any OPEC country other than Saudi Arabia.
Wirth said at a press conference that he had been “busy” and had not seen Exxon’s Permian goal, which was released while he was speaking to analysts, He said, however, that Chevron’s production could exceed 900,000 barrels daily if the company decided to increase drilling rigs from the 20 currently in operation, “It’s a decision we haven’t taken yet but we certainly have it under active consideration,” Wirth said, “It’s a good black panther cufflinks and tie bar gift set story that could get even better.”..
Oil companies are trying to win back investors after years of underperforming other industrial sectors and the S&P 500. The weighting of energy shares in the S&P 500 index fell to 6 percent in 2018, from 8.4 percent four years earlier. Like Exxon, Chevron has begun to emphasize achieving faster payoffs from investments in shale rather than the megaprojects of the past. “The key driver of cash flow growth over the medium term remains the Permian, which continues to perform ahead of expectations,” said Biraj Borkhataria of RBC Europe Limited.
Chevron said it expects global production to rise 3 black panther cufflinks and tie bar gift set percent to 4 percent annually through 2023, Executives said the company would return more cash to investors this year through dividends and $4 billion in share buybacks aiming to achieve a 6 percent shareholder return, The company also raised its estimate of its reserves in the Permian, in Texas and New Mexico, to 16.2 billion barrels of recoverable resources from 9 billion, The San Ramon, California-based company expects to sell assets worth $5 billion to $10 billion bit.ly/2tOctMy between 2018 and 2020, including production assets in Denmark, Azerbaijan and Britain's North Sea..