Energy

  Bloomberg Oil fell below $50 a barrel after Russia cast doubt over a deal any time soon with OPEC, following the group’s pledge to reduce production. Futures slipped 1.3 percent in New York after closing above $50 for the first time since June on Thursday. OPEC agreed in Algiers last week to cut output in a bid to shrink ...

  Bloomberg A liquefied natural gas tanker plying the waters of the Mediterranean has created a guessing game for energy traders. The Maran Gas Delphi has taken a meandering course after loading up on U.S. shale gas a month ago at Cheniere Energy Inc.’s Sabine Pass export terminal in Louisiana. The ship anchored off the coast of Greece for several ...

  Bloomberg A pile up of tankers waiting in the North Sea suggests a glut is building again in the market where benchmark crude is traded, highlighting the task facing OPEC as it seeks to rein in a global glut. At least 10 tankers are at or near two locations off the U.K. coast where they must wait to transfer ...

  Reuters Oman Oil Company Exploration & Production (OOCEP) has appointed Sumitomo Mitsui Banking Corp as financial advisor to arrange a loan which is likely to be in excess of $1 billion, banking sources told Reuters. The upstream oil and gas company, a subsidiary of state-owned Oman Oil Co, is expected to raise the financing early next year, the sources ...

  Bloomberg BHP Billiton Ltd. sees oil and gas markets rebounding faster than its mined commodities as it considers potential acquisitions and weighs as much as $5 billion in project spending. The world’s biggest miner, which booked writedowns of $7.2 billion against its U.S. shale unit earlier this year, said recovering oil prices and efforts to lower costs are making ...

  Bloomberg India’s largest oil and gas producer will continue with its record investment plan despite a cut in domestic gas prices, which were reduced for the fourth consecutive time last week. Oil and Natural Gas Corp. plans to invest about 300 billion rupees ($4.5 billion) in the year beginning April 1, including investment in its gas-rich Krishna-Godavari block off ...

Bloomberg Iran’s state-owned oil company sold condensate to BP Plc for the first time since sanctions were lifted in January, marking the country’s re-emergence as one of the world’s top suppliers of crude oil and natural gas liquids. National Iranian Oil Co. will supply South Pars condensate to BP for loading between September and October, said an NIOC official, asking ...

  Bloomberg Saudi Arabia, the world’s largest crude exporter, cut pricing for November oil sales to Asia and Northwest Europe and for most grades to other regions amid a global supply glut. State-owned Saudi Arabian Oil Co., known as Saudi Aramco, lowered its official pricing for Arab Light crude to Asia by 25 cents a barrel to 45 cents less ...

  Bloomberg Iran’s top renewable-energy authority denied that it’s signed any agreement covering electricity generation projects with a Swiss developer that has said it obtained power-purchase agreements for 370 megawatts of installations. The Renewable Energy Organization of Iran, which is known as Suna, hasn’t signed any deal with MECI Group International, said Jafar Mohamadnejad Sigaroudi, the deputy in charge of ...

  ANKARA / Agencies The National Iranian Oil Company (NIOC) on Tuesday signed a new style, less restrictive, output contract with an Iranian firm, a long-awaited template for contracts it hopes will tempt foreign energy investors back to boost production after years of sanctions. “The oil ministry welcomes cooperation with all companies that can … help boost Iran’s output,” the ...