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Bloomberg Europe’s strategic energy reserves shouldn’t be all about oil. As natural gas gains ground in the global energy transition, the cleanest fossil fuel should be allowed to replace some compulsory crude and oil product storage, according to Thierry Bros, a senior research fellow at the Oxford Institute for Energy Studies (OIES). That would help the region use some of …

Bloomberg PVR Ltd., India’s largest movie exhibitor, is seeking growth opportunities overseas after sealing a deal to acquire a local cinema chain. The company’s “big focus” is to look at Saudi Arabia, while it’s also planning projects in Dubai, Chief Financial Officer Nitin Sood said in a telephone interview. PVR also expects to open a nine-screen multiplex in Sri Lanka’s …

Bloomberg South Africa’s Solidarity labour union plans to escalate a strike at energy and chemicals company Sasol Ltd. from September 6 over the exclusion of white staff from an employee-shareholding plan, deputy General-Secretary Deon Reyneke said. Members of the union began protests including a so-called go-slow at the company on September 3, Reyneke said. The full strike later this week …

Bloomberg Abu Dhabi is exploring a potential merger between three of its banks to create a lender with about $110 billion of assets as the oil-rich emirate moves ahead with the consolidation of state-controlled companies. Abu Dhabi Commercial Bank PJSC (ADCB) and Union National Bank PJSC (UNB), which are both listed locally, are in talks to combine with privately-held Al …

ABU DHABI / WAM Moustapha Niasse, President of the National Assembly of Senegal, said that the UAE is a force of good in the world, because of its efforts to promote social and humanitarian causes and help people suffering from disasters and crises, as well as its development initiatives that have created a difference to the international efforts to limit …

Bloomberg Euro-area manufacturers saw order growth slow to the weakest pace in two years after renewed concerns over trade prospects hit confidence. Purchasing Managers’ Indexes (PMI) from across Europe signal business sentiment is waning, threatening to harm the economy at a time when price pressures are building after years of subdued growth. Momentum is also weakening in China, while output continued …

Bloomberg Opec crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to US sanctions. The group’s 15 members, which now include the Republic of Congo, collectively produced 32.74 million barrels a day last month, an increase of 420,000 barrels a day from July, …

Bloomberg The latest threat to the dominance of Britain’s six biggest energy suppliers is coming from small technology companies that automatically switch consumers to the cheapest deal. Their emergence couldn’t come at a worse time for the industry, which is already beset by lawmakers capping rates and suffering from perennial mistrust by consumers. On top of that, utilities are getting …

Bloomberg Oil in London traded near a two-month high as Iranian crude and condensate exports fell to their lowest level in more than two years, showcasing concerns over a potential supply shortfall once US sanctions on the Middle East nation’s shipments start in November. Brent futures gained as much as 0.7 percent. Iran shipped just under 2.1 million barrels a …

Bloomberg Ghana signed eight cooperation agreements with China following talks between the two nations’ leaders in Beijing ahead of the Forum on China-Africa Cooperation that started on Monday. The package of agreements included the $2 billion infrastructure deal Ghana reached in July with Sinohydro Corp. to improve its roads and develop railways in exchange for bauxite, according to a statement …