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Bloomberg Electricite de France SA’s Italian unit has attracted potential bidders including Neptune Energy and Warburg Pincus’s Apex International Energy for its oil and gas business, people familiar with the matter said. Bidders for Edison SpA’s exploration and production assets, primarily located in Egypt and Italy, may offer as much as $2 billion, the people said, asking not to be …

ABU DHABi / WAM Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Industry, has said that Opec and its members “don’t control” oil prices and that the market “dictates” them. “What Opec strives to achieve”, he added, “is a balanced oil market that is fair for both consumers and producers, and encourages the many trillions of dollars of investment …

Bloomberg US-China trade talks in Beijing are progressing and were poised to extend into Wednesday, according to an American negotiator. The discussions during the past two days “went well,” according to Steven Winberg, an Energy Department official who spoke to reporters in Beijing. “I can confirm we’re continuing tomorrow.” The reason for the extension of meetings originally scheduled for two …

Bloomberg Sinopec Corp’s trading losses shouldn’t deflect investors from the potential opportunity presented by its shares holding near a two-year low. The refining giant, officially called China Petroleum & Chemical Corp, has slumped 10 percent in the past month amid a global oil rout and after it reported losses on derivatives linked to crude prices at its main trading unit …

Bloomberg Idaho regulators rejected Hydro One Ltd’s $3.4 billion takeover of Avista Corp, the second time state officials cited political risks in Ontario as grounds to nix the Canadian company’s effort to buy the US utility. The Idaho Public Utilities Commission said “the management of Hydro One is subject to the province’s political pressure,” and the takeover would therefore be …

Bloomberg American drivers are likely to pay a little less for gas this year and President Donald Trump is happy to take credit. The projected $2.70 a gallon pump price for 2019 is 3 cents lower than 2018 levels, although this year’s high could reach $3 as soon as May and top $4 in some cities, according to GasBuddy’s Price …

Bloomberg Oil headed for its longest stretch of daily gains in more than 17 months as the US Federal Reserve sought to ease investor concerns, China moved to sti-mulate its economy and Opec production cutbacks took effect. Futures in New York climbed as much as 3.2 percent after a fifth consecutive increase, when they settled at the highest closing level …

Bloomberg After four years of planning, Tesla Inc finally broke ground on its planned $5 billion factory in the world’s biggest auto market. But the timing couldn’t be more inauspicious. Chief Executive Officer Elon Musk and some Shanghai officials, including Mayor Ying Yong, on Monday attended a function at a site near the city kicking off construction of what would …

Bloomberg Eskom Holdings SOC Ltd will extend its strategy of trimming top executive positions to include lower ranking managers and finally the general workforce as South Africa’s cash-strapped power utility looks to cut costs, according to a person familiar with the plans. The state-owned company last month reduced its highest executive structure to nine positions from 21 by regrading and …

Bloomberg With brand-name drillers unwilling to jump in, Venezuela is resorting to a newly formed US company for help in shoring up production from its crude reserves, the largest in the world. Schlumberger Ltd and Halliburton Co, the world’s biggest oil-service providers, have announced over $2 billion in combined write-offs for unpaid bills in Venezuela since the second quarter of …