Energy

Bloomberg Shale explorers pushing to expand oil production are struggling to find enough fracking crews after thousands of workers were dismissed during the crude rout. Independent US drillers underspent their first-quarter budgets by as much as $2.5 billion collectively, largely because they couldn’t find enough fracking crews to handle all the planned work, according to Infill Thinking LLC, a research ...

Bloomberg OPEC impressed oil traders this year by making almost all the supply cuts it promised. Keeping output down will only get harder. The Organization of Petroleum Exporting Countries and its partners are expected to extend output curbs into early 2018 when they meet next week, in an ongoing bid to clear a global surplus. Yet the tailwinds that made ...

Bloomberg Oil rode its longest rising streak in more than a month as a proposal by the world’s two biggest crude producers to extend output curbs into 2018 boosted confidence that other nations will follow suit. Futures climbed for a fifth day in New York, adding to a 2.1 percent jump after the Saudi and Russian energy ministers said they ...

KUALA LUMPUR / Reuters Malaysia’s state energy firm Petronas may try shorter-term LNG contracts and smaller cargo sizes to entice buyers, senior company officials said, at a time when it has major contracts coming up for renewal and the market is awash in supply. The liquefied natural gas (LNG) marketing drive at Petroliam Nasional Berhad, or Petronas, coincides with rising ...

Bloomberg Libya is ratcheting up oil output with less than two weeks to go before the world’s biggest exporters decide whether to extend production cuts to clear a supply glut. The OPEC member with Africa’s largest crude reserves is pumping more than 814,000 barrels a day, thanks partly to rising output from two fields that re-started last month, Jadalla Alaokali, ...

Bloomberg Days after a tight election made the Green Party a power-broker in Canada’s westernmost province, Justin Trudeau’s government is introducing a bill to ban crude oil tankers from using ports along the northern coast of British Columbia. The move, long signaled by Trudeau, is more political than of any immediate consequence. The area affected stretches from British Columbia’s border ...

Bloomberg Utility owner Southern Co. has agreed to take the lead on building two nuclear reactors at its Vogtle power plant in Georgia from bankrupt contractor Westinghouse Electric Co. as soon as next month. The Atlanta-based utility owner said in a statement that an interim contract with Westinghouse will be extended to June 3 while the companies finalize and gain ...

ALGIERS / Reuters The new chief of Algeria’s state energy company Sonatrach has urged employees to simplify bureaucracy, and focus on the core business of production as the North African state deals with lower oil prices, an internal company letter shows. The message from new CEO Abdelmoumen Ould Kadour was sent to Sonatrach employees just over a month after he ...

Bloomberg US natural gas futures surged after federal regulators limited construction on a pipeline, a move that may delay new Appalachian supplies from reaching the market. Energy Transfer Partners LP is barred from new drilling along some segments of its $4.2 billion Rover pipeline, the Federal Energy Regulatory Commission said in an order posted. The move follows a request by ...

Bloomberg Tesla Inc. has begun taking $1,000 deposits for its remarkable solar roof tiles—to be delivered this summer at a price point that could expand the US solar market. Tesla will begin with production of two of the four styles it unveiled in October: a smooth glass and a textured glass tile. Roofing a 2,000 square-foot home in New York ...