Energy

  Bloomberg OPEC appears to have persuaded investors that it’s making good on promised production cuts. Money managers are the most optimistic on West Texas Intermediate oil prices in at least a decade as the Organization of Petroleum Exporting Countries and other producers reduce crude output. Saudi Arabia has said more than 80 percent of the targeted reduction of 1.8 …

  Bloomberg In the increasingly competitive world of Japan’s energy market, there may be safety in numbers. Gas sellers from the nation’s smaller utilities to even its biggest oil refiner are considering clubbing together to get cheaper fuel from their suppliers and help them undercut competitors in the 2.4 trillion yen ($21 billion) retail gas market, which the country is …

    Bloomberg Saudi Aramco, the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, according to people with knowledge of the matter. Banks including HSBC Holdings Plc, JPMorgan Chase & Co. and Credit Suisse Group AG have been invited to pitch for …

  Bloomberg Lukoil PJSC is seeking opportunities for growth in the Middle East as Iran opens more of its oil fields to international partners, according to the Russian energy company’s regional head. The Moscow-based company plans to add output from the region to existing operations in Iraq and Egypt as long as it finds projects with production costs as low …

  Bloomberg Oil demand growth will slow and supplies will remain abundant in the coming decades, meaning producers in the Middle East, Russia and US continue to gain market share at the expense of higher-cost rivals, said BP Plc. Demand for oil will expand by an average 0.7 percent a year over the next two decades, little more than half …

  Bloomberg BHP Billiton Ltd., the largest overseas investor in US shale, boosted spending on its onshore oil and gas division as rising prices lure drillers to add rigs and spur a deals spree. The company boosted spending on the unit to $165 million in the three months to December 31, from $108 million the previous quarter, according to a …

  Bloomberg General Electric Co.’s woes in the oil patch persisted in the fourth quarter, denting sales and dragging down shares to their biggest decline in four months. Weakness in the oil and gas unit, which makes drilling equipment and pipes, will probably linger into this year after an “extremely difficult” 2016, Chief Financial Officer Jeff Bornstein said on a …

  Bloomberg It could take more than a political standoff between President Donald Trump and Mexico to keep US shale gas from flowing south. While Mexico works to reverse declining oil and gas production, the nation’s burning record amounts of natural gas pulled from tight-rock formations north of the border. Pipeline deliveries of the fuel from the US have more …

  Bloomberg Oil dropped from a three-week high amid speculation that increased US drilling will boost output, offsetting cuts by OPEC and other producers. Futures fell 1.1 percent in New York after failing to extend on Thursday’s 2 percent rally. Rigs targeting crude in the US rose this week by 15 to 566, the highest since November 2015, according to …

  Bloomberg Add AltaGas Ltd. to the list of Canadian companies that can’t seem to get enough of America’s energy assets. The Calgary power and gas supplier agreed to buy WGL Holdings Inc. — owner of the Washington utility that supplies natural gas to the White House — for $4.6 billion. The takeover will expand its reach in the US, …