Energy

Bloomberg China National Petroleum Corp. (CNPC) is no longer a partner in Iran’s biggest natural gas project, and the Persian Gulf nation will develop Phase 11 of the giant South Pars field on its own, Oil Minister Bijan Namdar Zanganeh said. CNPC was the only international partner left in the project, after Total SA of France withdrew last year when ...

Bloomberg Equinor ASA has started its Johan Sverdrup oil field, a rare mega-project in the North Sea that’s been a boon for Norway’s offshore industry and now promises to deliver a huge production boost for the country. Discovered in 2010 in an area that had been disregarded by most explorers, the site started production on Saturday and is set to ...

Bloomberg Mozambique’s government said Exxon Mobil Corp. will sign off on an initial investment decision for a liquefied natural gas project that could cost as much as $33 billion to build — the biggest ever in Africa. A ceremony marking the decision will take place Oct. 8 in Maputo, the capital of the southeast African nation, the Ministry of Mineral ...

Bloomberg Newly commissioned Permian Basin crude pipelines have yet to boost US crude exports, as the ongoing US-China trade war weighs on demand from Asia. The US Census Bureau said exports averaged 2.73 million barrels a day in August, up just 40,000 barrels from a month before. That’s despite the start of two widely anticipated crude pipelines from West Texas ...

Bloomberg Energy Secretary Rick Perry has told confidants he plans to resign from the Trump administration by the end of the year. Perry, an Air Force veteran who was previously Texas’ longest serving governor, was to spend some time in the Oval Office but hadn’t intended to tell President Donald Trump of his departure timeline. Perry’s plan to depart comes ...

Bloomberg Venezuela’s state oil company has briefly cut output in the Orinoco Belt — which accounts for about half of the nation’s total production — to a maximum of 200,000 barrels a day after swelling inventories forced blending plants to shut. Petroleos de Venezuela SA set a production limit at the extra-heavy crude area of the Orinoco, the country’s main ...

Bloomberg Mexico’s Finance Minister Arturo Herrera said the country should debate how to exploit its deep-water hydrocarbon riches, in an apparent challenge to President Andres Manuel Lopez Obrador’s decision to suspend the private oil auctions to explore these deposits. “We need to have a profound discussion about what we are going to do with deep water, because in deep water, ...

Bloomberg BP Plc boss Bob Dudley is planning to step down, and the energy giant’s board is yet to decide on the timing. “I said a long time ago that around the age of 65 I would” step down, Dudley told reporters on the sidelines of the Russia Energy Week conference in Moscow. Dudley took over as chief executive officer ...

Bloomberg Saudi Aramco is producing more than 9.9 million barrels a day of crude as it fully recovers from the worst-ever attacks on its energy infrastructure. Output reached that level on September 25 and is a “little bit” higher now, Ibrahim Al-Buainain, chief executive officer of state-owned Aramco’s energy trading unit, said. Saudi Arabia has also restored some spare capacity ...

Bloomberg Petroliam Nasional BHd and its South African partners plan to conduct an initial public offering in their fuel retailer Engen to fund the upgrade of a refinery in the coastal city of Durban and to expand its network of gas stations. A yet to be decided amount of shares in the company, which is South Africa’s biggest fuel retailer, ...