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Bloomberg SoftBank Group Corp. is planning to develop a $1.2 billion solar power plant in Saudi Arabia, according to people with knowledge of the matter. The plant, to the north of Riyadh, would generate 1.8 gigawatts of power, the people said, asking not to be identified because the plans are private. SoftBank has started preliminary talks with banks and developers …

Bloomberg Crude’s poised for the longest losing streak since 2014 as concerns of a supply crunch eased on a forecast for rising US production and waivers for eight countries allowing temporary import of Iranian oil. Futures in New York fell as much as 0.9 percent and headed for an 8.5 percent drop in eight straight sessions. The US government forecast …

Bloomberg Royal Dutch Shell Plc and Total SA are the only companies among the 10 biggest oil and gas producers in the world which disclose how their carbon emissions will decline over time, according to the first analysis of its kind by managers overseeing more than $9 trillion of funds. The Anglo-Dutch and French majors are the only companies among …

Bloomberg South Sudan’s optimism about restoring oil output to 350,000 barrels a day depends on the success of a recent peace deal and both are unlikely, according to Wood Mackenzie Ltd. Crude production fell by about two-thirds to 130,000 barrels per day as blocks were shut-in during a conflict that erupted in late 2013, after a dispute between President Salva …

Bloomberg CK Group’s A$13 billion ($9.4 billion) bid for gas pipeline operator APA Group was knocked back by Australia’s government on national security concerns, a decision that has the potential to further inflame diplomatic tensions with China. “I have advised the consortium led by CK Asset Holdings Ltd. of my preliminary view that its proposed acquisition of APA Group would …

ABU DHABI / WAM The United Arab Emirates ranked 10th on the list of the world’s most dominant economic and political powers in 2018, according to the US News World Report, where US headed the list, followed by Russia, China, UK, Germany, France and Japan, respectively, with Saudi Arabia coming ninth. According to the report, the world’s most powerful countries …

ABU DHABI / WAM UAE bourses kept their upward move for the second day running, ending Tuesday’s session in the green, and posting gains to the tune of AED5 billion, driven by upbeat sentiments across the banking and realty sectors where a select of blue chips were in a high demand. The positive mood left Abu Dhabi Securities Exchange General …

Bloomberg Africa is finally seeing the benefits from the recovery in cru-de prices as companies ramp up drilling from Algeria to Namibia. The rigs are returning and wildcatters are getting excited again after a years-long hiatus during the oil-price slump. From majors like Total SA to independents like Tullow Oil Plc, companies are snapping up exploration rights and doing deals. …

Bloomberg The world’s biggest public energy company doesn’t worry about size when it comes to potential deal-making. The driver of any acquisition for Exxon Mobil Corp. isn’t the scope of the target, it’s whether the company finds more value in it than the market does, Darren Woods, chief executive officer of the Irving, Texas-based firm, said at the New Economy …

Bloomberg Oil prices are likely to be “biased to the upside” for the rest of the year as demand from refineries rises in November and December, according to Citigroup Inc. An average price of $80 a barrel for this quarter is “realistic,” with spikes to $90 or even $100 possible if further disruptions worsen a supply crunch amid rising consumption, …