Energy

  Bloomberg Oil rose from a three-week low amid reports that the Benghazi Defense Brigades forces captured Libya’s biggest oil port. Futures advanced 1.4 percent in New York after three days of declines. Benghazi Defense Brigades forces captured Es Sider as fighting escalated, according to two people with knowledge of the matter who asked not to be identified because they …

Bloomberg Iraq’s crude exports rose 1 percent by volume in February, contrasting with a decrease in monthly shipments by Saudi Arabia after both countries agreed to OPEC’s plan to cut oil production in an effort to prop up prices and trim a global oversupply. Exports increased to 3.85 million barrels a day last month, about 39,000 barrels a day more …

  Bloomberg Kuwait Energy Plc is planning an initial public offering in London that could value the oil and gas exploration business at as much as $1 billion, according to people familiar with the matter. The independent energy firm, with assets across Oman, Egypt, Iraq and Yemen, is working with Bank of America Corp., the people said, asking not to …

  Bloomberg India’s plan to push its top oil producer to fund a takeover of a state refining company may threaten some near-term investments including a plan to revive a long-delayed development project aimed at cutting the nation’s energy imports, according to company officials with knowledge of its finances. Oil & Natural Gas Corp.’s capital expenditure plans, including a $4.5 …

  Bloomberg Europe has wanted to wean itself from Russian natural gas ever since supplies from its eastern neighbor dropped during freezing weather in 2009. Almost a decade later, the region has never been more dependent. Gazprom PJSC, Russia’s state-run export monopoly, shipped a record amount of gas to the European Union last year and accounts for about 34 percent …

  Bloomberg Canada’s first exports of liquefied natural gas may soon be heading overseas — from a port in Louisiana. A year ago, Cheniere Energy Inc. built an LNG export terminal along Louisiana’s coast and became the only company shipping US shale gas by tanker. Now it’s looking for supplies to send abroad from as far off as the Montney …

  Bloomberg A province governed by India’s Prime Minister Narendra Modi for 13 years is impeding his plans to promote clean energy. Modi’s effort to make liquefied natural gas more affordable, by halving its import tax in the government’s annual budget February 1, is being scuttled by the withdrawal of tax benefits by the western Indian state of Gujarat, through …

  Bloomberg It’s a long-distance relationship that’s never really taken off. Executives from Gazprom PJSC in Moscow flew thousands of miles east this week to Singapore and Hong Kong for the first time since 2015 in a bid to drum up interest in the world’s largest natural gas producer. Even after last year’s commodities rally and a revival in Russian …

  Bloomberg Oil closed near $54 a barrel in New York as estimates of record US stockpiles overshadow OPEC’s efforts to balance the market. Members of the Organization of Petroleum Exporting Countries are meeting more than 90 percent of the curbs they agreed to make, the group’s Secretary General Mohammad Barkindo, said in Abuja, Nigeria. The United Arab Emirates is …

  Bloomberg Oil has been bound to the tightest price range in more than a decade, and yet hedge funds have never been so confident it will eventually rally. Money managers boosted their bets on rising West Texas Intermediate prices to a record on speculation that the Organization of Petroleum Exporting Countries and its partners will manage to ease a …