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Bloomberg Penn Virginia Corp. has reached out to potential buyers including Hilcorp Energy Co. and WildHorse Resource Development Corp. ahead of a sale process slated to start next month, according to people familiar with the matter. The Houston, Texas-based company will open a data room and solicit initial bids in September, said the people, who asked to not be identified …

VIENNA / WAM The Opec Fund for International Development (OFID) signed pu-blic sector loan agreements totalling $37.5 million with Gui- nea Bissau, Burundi and Uga-nda to support socio-economic development and living standards in the African continent. OFID’s $20 million loan to Burundi will help fund the ‘Rumonge-Nyanza Lac Road Rehabilitation Project’. Improvements to 52km stretch of road will promote development …

Bloomberg Talks to update the North American Free Trade Agreement (Nafta) will resume in Washington with a focus on dairy as the US pressures Canada to strike a deal by Friday, a US official familiar with the negotiations said. Canada’s Foreign Minister Chrystia Freeland is expected to visit the Washington office of US Trade Representative Robert Lighthizer. This week’s Nafta …

Bloomberg Oil touched the highest level in three weeks after a government report showed a bigger US crude stockpile decline than expected. Futures in New York advanced as much as 1.5 percent. The Energy Information Administration reported nationwide crude inventories fell 2.57 million barrels last week, larger than a decrease of 1.49 million barrels that analysts forecast in a Bloomberg …

Bloomberg Exxon Mobil Corp. set a goal for reducing emissions from its Canadian oil sands, the second time this year the world’s biggest oil explorer by market value published a greenhouse-gas target. Imperial Oil Ltd., a Calgary-based subsidiary 69-percent owned by Exxon, will reduce the intensity of emissions by 10 percent over the next five years, compared with 2016 levels, …

Bloomberg Oil traded near the highest closing level in more than two weeks on estimates that US crude inventories fell and as the prospect of a new US-Mexico trade pact spurred wider financial-market optimism. Futures held near $69 a barrel in New York as President Donald Trump said the US is pursuing a new trade accord with Mexico to replace …

SANTIAGO / WAM Abdul Razzaq Mohamed Hadi, UAE Ambassador to Chile, met with Susana Jimenez, Minister of Energy of Chile, and Francisco Chahuan, member of the Chilean Senate and Chairman of the UAE-Chilean Parliamentary Friendship Group. During the meeting, the two sides discussed ways to enhance cooperation and mutual investment with Chile in the renewable energy sector and the possibility …

Bloomberg Total SA’s withdrawal from Iran’s giant South Pars gas field has given China another chance to secure a stake in the world’s most coveted energy assets: abundant and low-cost Middle Eastern oil and gas. Chinese companies have invested in Iraq, the United Arab Emirates and Iran in recent years, and have expressed interest in oil and gas projects in …

Bloomberg SpiceJet Ltd. completed its maiden flight using a blend of aviation fuel and oil from jatropha seeds, furthering Prime Minister Narendra Modi’s push for greater use of alternative resources to cut India’s dependence on oil imports. A Bombardier Q400 aircraft made the one-way trip to New Delhi from the city of Dehradun, about 200 kilometres from the capital. The …

Bloomberg Italy’s gas pipeline operator Snam SpA signed a memorandum of understanding with China’s State Grid International Development as part of Finance Minister Giovanni Tria’s trip to the Asian country. Snam and State Grid International, a unit of the biggest Chinese power distributor, agreed to examine a range of opportunities in China and elsewhere, with a focus on the use …