Bloomberg Record low prices for heavy Canadian crude have prompted one of the biggest operators in the oil sands to take the rare step of shutting production. Motivated by the “extremely low” prices, Suncor Energy Inc. announced on March 24 that it will shut in one of its two so-called trains at its two-year-old, 194,000 barrel a day Fort Hills ...

Bloomberg Green forms of liquefied methane could be a viable fuel for ships to help the industry meet greenhouse-gas emission reduction targets, a study showed. Bio-methane, produced from biomass, and synthetic methane made using renewable energy could emulate liquefied natural gas as a marine fuel, according to a study conducted by Dutch researcher CE Delft and commissioned by industry group ...

Bloomberg Oil refiners across the US are being forced to throttle back operations amid a historic plunge in gasoline demand and prices. Plants representing more than 10% of US fuel-making capacity have cut back. Exxon Mobil Corp has slowed rates at facilities in Texas and Louisiana, while others around Los Angeles and Philadelphia are taking similar action to stem a ...

Bloomberg The global slump in oil prices amid the coronavirus outbreak will push Indian state-owned firms to sell some assets, according to Macquarie Infrastructure and Real Assets, and the world’s biggest infrastructure investor is already in line. “There is a fair bit of opportunity for the government to divest non-core oil and gas assets, like oil storage facilities, pipelines, transmission ...

Bloomberg Electricity prices in Germany are falling faster than in other major economies in Europe as the impact of the coronavirus is seen hurting industrial demand. Industry makes up about 44% of German electricity consumption, more than in other European nations, and so its power use is likely to be one of the hardest hit by the coronavirus, according to ...

Bloomberg As lockdowns spread across the US, the UK and other countries, early lessons on how effective they’ll be against the new coronavirus are coming from abroad. Even as China moves to lift a quarantine on the original virus epicenter of Wuhan after stanching the outbreak, India and much of Europe are locking down. Comparisons are tricky because of differences ...

Bloomberg The coronavirus outbreak may hit Singapore real estate investment trusts harder than the global financial crisis did, according to Jefferies Financial Group Inc. Singapore announced on March 24 its strictest measures yet to combat the spread of the virus, including shutting cinemas, and deferring or cancelling events starting from 11:59 pm on Thursday. Public venues such as retail malls ...

Bloomberg Vietnam’s rice traders have halted overseas shipments after the customs department ordered a temporary suspension of exports to ensure food security during the coronavirus pandemic. The country is the world’s third-largest exporter, behind India and Thailand. “We have been unable to ship rice to the Philippines since customs clearance was suspended,” said Nguyen Van Thanh, director of Phuoc Thanh ...

Bloomberg India banned exports of a malaria drug backed by US President Donald Trump amid a run on supplies globally, even as scientists continue to search for conclusive evidence of the medicine’s effectiveness against the novel coronavirus. Exports of hydroxychloroquine will be limited to fulfilling fully paid existing contracts, while certain shipments on humanitarian grounds may also be allowed on ...

Bloomberg India’s efforts to arm itself with necessary medical equipment to fight its rising coronavirus infections are being hindered by the uncertainties of a three-week nationwide lockdown announced by Prime Minister Narendra Modi. Strict movement curbs being enforced by local state governments are hampering supplies of medical devices and those trying to meet the growing demands of surgical gloves, masks ...