News

Bloomberg TransCanada Corp. won a 49 percent price increase for space on the pipeline it’s building to haul shale gas from Appalachian fields as labor shortages and escalating land prices pushed construction costs almost $1 billion higher. US regulators approved the Calgary-based company’s request to charge gas explorers $14.663 per dekatherm for space on its Mountaineer XPress Project, 275-kilometre in ...

DUBAI / WAM Emirates has announced that it will boost its services to Riyadh with the addition of a fourth daily flight to the Saudi capital from September 1. The addition of the fourth daily service will take the total number of weekly Emirates flights serving Riyadh to 28. Adil Al Ghaith, Senior Vice President Commercial Operations, Gulf, Middle East ...

Bloomberg Donald Trump has signed off on a bilateral agreement with Mexico to revamp the North American Free Trade Agreement, according to three people familiar with the matter. “A big deal looking good with Mexico!” Trump tweeted earlier on Monday. There is no deal reached yet with Canada, the people said, which has been on the sidelines of the talks ...

Bloomberg Saudi Arabia has granted its state-owned oil company a 40-year concession to exploit the kingdom’s hydrocarbon reserves as part of Aramco’s preparation for a potential initial public offering, a person familiar with the matter said. The pact replaces norms dating in some cases from 1933, when the kingdom first agreed to let companies drill for oil there, the person ...

Bloomberg Oil held above $68 a barrel on slowing American drilling and investor optimism after a breakthrough in a trade standoff between the US and Mexico. Futures in New York were little changed, following a 1.3 percent gain. Working oil rigs in the US declined by the most since May 2016 last week, according to Baker Hughes data. Crude has ...

Dubai / Emirates Business Bayt.com launched a series of technological features and enhancements set to revolutionize job hunting and the recruitment process for the Middle East and North Africa (Mena) region. The new Artificial Intelligence powered features are designed to match talent with opportunity in a much more powerful and efficient manner. The first of these new features is the ...

Bloomberg China Petroleum & Chemical Corp. raised its dividend payout after half-year earnings jumped to a record, fuelled by improving refining profits and a rebound in crude prices that brought its oil and gas exploration unit closer to breaking even. The world’s biggest refiner by capacity, known as Sinopec, proposed an interim dividend of 0.16 yuan a share, a 60 ...

Bloomberg Delinquent loans worth as much as 700 billion rupees ($10 billion) in India’s power sector are in the process of being resolved, according to the nation’s largest bank, helping lenders avoid dragging seven accounts to bankruptcy court under new norms laid out by the regulator. State Bank of India identified 34 stressed accounts in the power sector, with dues ...

Bloomberg Oando Plc is looking to boost crude output from next year as the Nigerian producer breaks the back of a $2.5 billion debt burden built up through the 2014 acquisition of oil and gas assets from US giant ConocoPhillips. The borrowings will be almost 90 percent lower by the third quarter of 2019 and the company is now preparing ...

Bloomberg Colombia’s Ecopetrol SA plans to expand its oil and gas reserves through acquisitions, while also increasing its presence in the US. The state-owned oil company has identified assets that it may consider buying, Chief Executive Officer Felipe Bayon said at the New York Stock Exchange. “We’re trying to make it happen this year.” “It needs to be the right ...