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Bloomberg A Nigerian high court ordered the government to renew Shell Petroleum Development Co.’s operating license for the Oil Mineral Lease 11 field, which was withdrawn earlier this year, Lagos-based Punch newspaper reported. The Federal High Court in Abuja, ordered the license be renewed for maximum 20 years, and not 30 years the oil major was seeking, the newspaper reported. …

Bloomberg Poor water quality saps one-third of potential economic growth in the most heavily polluted areas, according to a new global analysis by the World Bank that underscores how crucial clean water is to productivity. “Deteriorating water quality is stalling economic growth, worsening health conditions, reducing food production, and exacerbating poverty in many countries,” World Bank Group President David Malpass …

Bloomberg A global glut in natural gas is threatening to undermine a $4 billion investment by Reliance Industries Ltd. aimed at boosting profits at the world’s largest oil refining complex. The project made all the sense in world when energy magnate Mukesh Ambani’s conglomerate announced it in 2012: convert petroleum coke, or petcoke, one of cheapest and dirtiest refinery by-products, …

Bloomberg Rosneft PJSC’s second-quarter net income fell as the Russian giant suffered the effects of weaker oil prices and production cuts, but the decline was less severe than analysts expected. While the results show the impact on Rosneft of the Druzhba crisis, in which millions of barrels of exports to central Europe via the Soviet-era pipeline were contaminated with chemicals, …

RIYADH / WAM The joint forces of the Arab Coalition supporting the legitimate government in Yemen launched a military operation on Houthi military targets, including caves used by the militia to store ballistic missiles, drones and weapons, reported the Saudi Press Agency (SPA). Colonel Turki Al Maliki, the Coalition’s official spokesman said the forces carried out 2,256 hours of military …

Bloomberg Saudi Aramco has picked Lazard Ltd. and Moelis & Co. to advise on the oil giant’s second attempt at the world’s largest initial public offering, people with knowledge of the matter said. The boutique investment banks have started preparatory work on the offering, according to the people, who asked not to be identified because the information is private. They …

Bloomberg Oil fell for the first time in three days as US Secretary of State Mike Pompeo fanned the flames of the trade war with China, heightening concerns about economic growth that underpins energy demand. Futures fell as much as 1.7 percent in New York on Tuesday. Pompeo told CNBC that Huawei Technologies Co. and other Chinese companies pose national …

Bloomberg After years pouring funds into the shale boom, bond buyers are getting increasingly selective as defaults rise and many explorers continue to burn more cash than they make. While Exxon Mobil Corp. and Occidental Petroleum Corp. have recently sold a combined $20 billion of investment-grade debt, junk rated issuers are getting a far different market reception. High-yield energy companies …

Bloomberg Oil rose for a second day as a drone attack on a Saudi Arabian oil field revived concerns that the tense Middle East political situation may jeopardise crude exports. Futures in New York advanced 0.6 percent to trade near $55 a barrel. Yemeni rebels attacked oil and gas facilities at the Shaybah field in the southeast part of the …

Bloomberg US President Donald Trump’s tariffs on Chinese imports are getting a lot of blame for slowing the global economy, but it’s his Twitter habit that could be even more harmful. According to a report by Bloomberg Economics’ Dan Hanson, Jamie Rush and Tom Orlik, uncertainty over trade could lower world gross domestic product by 0.6 percent in 2021, relative …