Energy

  Bloomberg Mexico’s existing oil reserves are dwindling so fast the country could go dry within nine years without new discoveries. That’s the message from the National Hydrocarbons Commission, which said that the reserves fell 10.6 percent to 9.16 billion barrels in 2016, from 10.24 billion barrels a year earlier. Once the world’s third largest crude producer, Mexico’s proven reserves ...

  Bloomberg Sunrun Inc., the largest US independent residential solar company, is seeking about $200 million in project-finance debt to build more rooftop power systems, according to people familiar with the deal. ING Groep NV and SunTrust Banks Inc. are helping arrange the non-recourse debt for San Francisco-based Sunrun, according to the people, who asked not to be identified because ...

  Bloomberg China’s state-owned enterprise regulator has asked coal mining giant Shenhua Group Corp. and power generator China Datang Corp. to discuss a possible merger, according to people with knowledge of the situation. The talks are at an early stage and there’s no guarantee of a deal, said the people, who asked not to be identified as the information isn’t ...

  Bloomberg Signs of growing US fuel demand are propping up oil above $49 a barrel, with more refinery purchases seen helping ease a glut in American stockpiles. Futures in New York were holding gains after rising 2.4 percent on Wednesday, when US government data showed that gasoline inventories dropped more than expected. Additionally, refineries boosted the amount of crude ...

  Bloomberg The closure of one of Australia’s biggest power plants may spark a new bout of electricity price volatility, potentially worsening the country’s energy crisis. The final two units of the 1,600-megawatt coal-fired Hazelwood plant in the state of Victoria will be shut Wednesday by owners Engie SA and Mitsui & Co. After operating for 50 years, the closure ...

  Reuters Light crude surged in Canada and the northern US after an oil-sands upgrader shut for maintenance because of a fire and Energy Transfer Partners LP said it was preparing to place the Dakota Access pipeline into service. Synthetic crude’s premium to West Texas Intermediate futures jumped $1.45 to $4.70 a barrel Monday, the strongest in more than a ...

  Bloomberg Oil advanced as OPEC member Libya halted the pipeline from its biggest field, tempering concerns that a surplus in the US continues to expand. West Texas Intermediate futures rose as much as 1.1 percent. Libya’s output has dropped to 560,000 barrels a day following the shutdown of the pipe from the Sharara field, according to a person with ...

  Bloomberg A pledge by crude producers to consider extending their output-cut deal failed to excite oil bulls, with prices dropping as more time was seen needed to trim swollen global stockpiles. Futures lost as much as percent 1.3 percent in New York, extending their third weekly drop this month as rising US supplies offset the effect of output curbs ...

  Reuters As the cost of light crude drops, some refiners in Asia are snap-ping up cargoes of the oil that is easier and cheaper to process than their usual diet of heavy crude, chasing profits from making diesel and gasoline. As a result of the OPEC production cuts, the world’s oil supply has become more light and those oil ...

  Bloomberg Venezuela, Iraq and Oman added their support for a possible extension of global oil-production cuts beyond June as mom entum builds among OPEC members and other crude producers to prolong the strategy to re-balance the market and prop up prices. Oil minsters for the three countries commented on Sunday, a day after Algeria’s Energy Minister Noureddine Boutarfa called ...