Energy

Bloomberg PetroChina Co. reported steady net income in the first quarter as higher exploration and production earnings countered a slump in refining. Net income rose 1 percent from a year ago to 10.26 billion yuan ($1.5 billion), the company said in a statement to the Hong Kong stock exchange, using international accounting standards. Despite international oil prices averaging 5 percent ...

Bloomberg Anadarko Petroleum Corp, the oil producer at the center of a bidding war, posted adjusted earnings for the first quarter that beat analysts’ estimates as oil and gas sales rose versus last year. The Texas-based driller said it earned 53 cents a share, excluding one-time items that included a $316 million loss attributed to the settlement of commodity derivatives. ...

Bloomberg Exxon Mobil Corp’s worst refining performance in almost two decades may revive questions about the so-called integrated model engineered by founder John D. Rockefeller and espoused by every CEO in the company’s 149-year history. A surprise loss in a business line Exxon typically relies on to prop up more volatile units eroded first-quarter profit and cast doubt on the ...

Bloomberg Total SA boosted cash flow in the first quarter as record hydrocarbon output and so-aring sales of liquefied natural gas compensated for a drop in crude prices. The French energy giant’s earnings are the latest sign of the industry’s recovery from a deep downturn, with Total benefiting from the start of giant LNG projects from Australia to the Arctic ...

Bloomberg Lawmakers from Britain’s main political parties called for using hydrogen as a source of energy to significantly reduce the nation’s greenhouse gas emissions and help transition to a low-carbon system. The rules should be changed as soon as next year to allow hydrogen into the natural gas grid, members of Parliament on the Business, Energy and Industrial Strategy Committee ...

Bloomberg Chevron Corp. is already working on integrating Anadarko Petroleum Corp., even as it faces a higher rival takeover bid for the oil explorer from Occidental Petroleum Corp. Just two weeks after Chevron agreed to buy Anadarko for $31 billion, executives from both companies have begun planning the combination of their sprawling international operations, Chevron Chief Executive Officer Mike Wirth ...

Bloomberg Total SA plans to start a digital factory in the coming weeks to tap artificial intelligence in a bid to save hundreds of millions of dollars on exploration and production projects, according to an executive. The use of artificial intelligence to screen geological data will help identify new prospects, and shorten the time to acquire licenses, drill and make ...

Bloomberg After marking the best start in seven years, Taiwan’s booming loan market is about to get a further fillip. Jumbo financings for offshore wind farm projects are expected to drive syndicated loan volumes this year, according to CTBC Bank. Taiwan’s bid last week to coax its business people to bring back home billions in overseas assets is set to ...

Bloomberg Angela Merkel will leave Brexit worries by the shoreline as she cuts the opening ribbon on a giant wind farm out in the Baltic Sea, a move that will do little to gloss over her tarnished reputation as Germany’s climate chancellor. The Arkona wind park, a joint venture of utility EON SE and Norway’s oil and gas giant Equinor ...

Bloomberg An Australian energy startup says it has found a solution to the problem that has dogged some thermal solar technology projects, removing instability in the process of storing the generated electricity. Vast Solar’s technology differs from rivals because it uses liquid sodium as a heat transfer agent, improving control of the sunlight bouncing off specialised mirrors, according to Chief ...