Bloomberg The oil industry’s ugliest battle is heading for a climax in Oklahoma City on Tuesday. But SandRidge Energy Inc is probably bound for the auction block anyway. Whether SandRidge or activist investor Carl Icahn wins control of the board this week, the oil and natural gas explorer is expected to sell some or all of its drilling rights as ...

Bloomberg Siemens AG is committed to its gas-turbine unit while recognising that it has to reduce capacity and cost amid a market slowdown, according to a memo with instructions on how to respond to media inquiries about the future of the business. The memo was sent by Lisa Davis, managing board member responsible for the power and gas division, according ...

Bloomberg President Donald Trump’s tariffs on $50 billion in Chinese imports include duties on components for wind turbines, nuclear reactors and batteries — but they are unlikely to cripple any of those industries. Less than 2 percent of wind turbines installed in the US since 2010 were imported from China, Stephen Munro, an analyst at Bloomberg New Energy Finance, said ...

Bloomberg Baytex Energy Corp. agreed to buy rival western Canadian oil producer Raging River Exploration Inc., in a deal valued at C$1.6 billion ($1.2 billion) that includes about 260,000 acres in the emerging East Duvernay Shale basin. Under the pact, holders of common shares of Raging River will receive 1.36 common shares of Baytex for each Raging River Share owned, ...

Bloomberg On a tropical island just off the coast of Nigeria, hundreds of engineers work around the clock to produce liquefied natural gas at a plant the size of Lower Manhattan. Operator Nigeria LNG Ltd says it will decide later this year whether to invest more than $10 billion to boost capacity by 40 percent. That would allow the Bonny ...

Bloomberg China’s efforts to cool solar power capacity growth will cut electricity generation costs and the industry’s reliance on government subsidies that helped drive record installations last year, the People’s Daily reported. Electricity rates paid to solar developers haven’t fallen in line with photovoltaic panel costs and clean energy developers are owed more than 120 billion yuan ($18.7 billion) in ...

Bloomberg Singapore home sales jumped to the highest in nine months in May, underscoring signs the city-state’s property market is recovering. Developers sold 1,121 units last month, the Urban Redevelopment Authority said. That’s more than the revised 732 units in April and the highest since August. Still, sales are running at a slower pace than early last year. The city-state’s ...

Bloomberg US stocks shook off the worst of their losses as oil rose before a key OPEC meeting this week. Equities declined in Europe and Asia amid concern over the escalating protectionist standoff between China and the US. The S&P 500 came off its lows of the day as energy shares advanced along with software makers. The Stoxx Europe 600 ...

Bloomberg Singapore Exchange (SGX) and National Stock Exchange of India Ltd. will remain partners for a little longer than both anticipated. An arbitrator deciding on a quarrel between the exchanges over Indian stock futures contracts ordered them to extend their licensing agreement beyond August, and for at least two months after the end of arbitration. It ordered SGX to refrain ...

Bloomberg HDFC Bank Ltd, the world’s most expensive major lender, is considering relying entirely on the Indian market for a share sale that could raise as much as 155 billion rupees ($2.3 billion), people with knowledge of the matter said. The Mumbai-based bank is weighing seeking all the capital through a qualified institutional placement in India, rather than its usual ...