Energy

  Bloomberg Saudi Arabia has promised it will reduce the overall tax rate paid by its national oil company to make its 2018 initial public offering — potentially one of the largest in history — more appealing to investors. “Definitely the fiscal regime will be changed,” Saudi Arabian Oil Co. Chief Executive Officer Amin Nasser said in a Bloomberg Television ...

  Bloomberg Aker ASA, the investment company controlled by Norwegian billionaire Kjell Inge Rokke, is considering a sale of offshore-engineering business Aker Solutions ASA, according to people familiar with the matter. Aker ASA, which owns more than a third of Aker Solutions via a holding company with the Norwegian government and a direct stake, is discussing options with potential adviser ...

  Bloomberg Liquefied natural gas prices falling to the lowest in a decade last year spurred fresh demand while suppressing investment in new production, potentially leading to shortages and price spikes next decade, according to a new Bloomberg New Energy Finance report. Global annual LNG consumption is seen rising to 422 million tons by 2030, almost two-thirds higher than last ...

  Bloomberg Chinese and Germans are among dozens of investors taking Ukraine up on its offer to turn the grounds of one of the world’s worst nuclear disasters into a massive solar park. Thirteen international investors are among the 39 groups seeking Ukraine permission to install about 2 gigawatts of solar panels inside the radioactive exclusion zone surrounding the defunct ...

  Bloomberg OPEC’s campaign to prop up oil prices is getting unlikely support from its biggest customer. China’s production is forecast to fall by as much as 7 percent this year, extending a record decline in 2016, according to analysts at CLSA Ltd., Sanford C. Bernstein & Co. and Nomura Holdings Inc. That’s about the same size as the output ...

  Bloomberg OPEC probably won’t need to extend a deal it reached with other crude producers to cut output, given the level of their compliance with the reductions and the outlook for an increase in global demand, Saudi Energy Minister Khalid Al-Falih said. The re-balancing of the oil market should take place by the end of the first half of ...

  Bloomberg Potential delays looming over three major US natural gas pipeline projects are threatening to sour a popular wager on the fuel. Gas for delivery in April 2018 is trading at a steep discount to the March contract, signaling that traders anticipate ample supplies at the end of next winter. The spread, known as the “widow maker” for its ...

  Bloomberg Generating power in the UK by harnessing the ebb and flow of tidal lagoons may be significantly cheaper than building new nuclear electricity plants or offshore wind farms, according to a government-backed review. Tidal lagoons, such as the 1.3 billion-pound ($1.6 billion) pilot project planned in Swansea Bay off the coast of South Wales, would likely cost “well-below” ...

  Bloomberg The tightening of emissions limits for deep-water ships has some of North America’s busiest ports chasing a new opportunity. The UN’s International Maritime Organization last year cut limits on sulfur in marine fuels to 0.5 percent from 3.5 percent, starting in 2020. The target: So-called bunker fuel, a cheap, tar-like oil residue used by most ships. Now ports ...

  Bloomberg Global investments in renewable power dropped the most on record in 2016 as demand in China and Japan faltered. Worldwide spending on clean energy fell 18 percent from 2015’s record high to $287.5 billion, according to a report by Bloomberg New Energy Finance. It was the first decline since 2013 and comes as environmental policies face pressure from ...