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Bloomberg American gas prices could double by 2040 as the US exports more liquefied natural gas, but consumers will be shielded as production of the fuel increases and trade balances improve. That’s the conclusion from a study commissioned by the US Department of Energy that found an almost 50 percent chance of gas reaching $5 to $6.50 per million British …

Bloomberg Next year, the US government doesn’t see global or US crude production as high as it once did. The Energy Information Administration decreased its 2019 forecast for global production to 102.21 million barrels a day, with most of the downward revision from the Organization of Petroleum Exporting countries. World demand growth is unchanged. At the same time, it sees …

HODEIDAH / WAM Arab Coalition Forces have destroyed a ballistic missile base belonging to Iranian-backed Houthi militias on the outskirts of the Al-Garahi district. Coalition forcers led by Saudi Arabia, and supported by UAE Armed Forces, targeted several positions and military machinery belonging to the Houthi militias, resulting in killing 47 militia elements and dozens of casualties. Yemeni resistance forces …

Bloomberg China’s push to eradicate smog by using more natural gas is set to get a boost as it pushes ahead with a plan to merge under one company a national pipeline network that would unify transport and investment decisions. Regulators are aiming to announce a decision before winter to combine oil and gas pipeline assets owned by its three …

Bloomberg Russia is showing signs of weakening its commitment to oil-supply cuts as production rises before crucial talks with OPEC about the future of the agreement. The nation boosted crude supply to the highest in 14 months in the first week of June as some companies breached their caps, said a person with knowledge of the matter. While both the …

Bloomberg Sempra Energy shares had their biggest ever intraday gain as Elliott Management Corp. and Bluescape Resources called for a sweeping overhaul, including selling the company’s Mexican and South American utilities and spinning off its US liquefied natural gas business. The two activist funds together hold a 4.9 percent interest in Sempra — whose assets include San Diego Gas & …

Bloomberg India’s Oil and Natural Gas Corp., which once had $4.3 billion of funds, is now bleeding cash. The state-run company’s cash reserves have shrunk by more than 90 percent in the past year, after it was ordered to purchase the administration’s stake in a refiner and it paid a record dividend. ONGC’s reserves dropped to about 10 billion rupees …

Bloomberg Botswana’s sole operating coal mine will increase output almost threefold within seven years as it eyes export opportunities created by a shortage of the fuel that’s used to fire most of southern Africa’s power plants. Morupule Coal Mine in the east of the country will ramp up annual production to 8 million metric tonnes by 2025 from 2.8 million …

Bloomberg EDP-Energias de Portugal SA’s executive board reaffirmed that the 9.1 billion-euro ($10.7 billion) takeover offer from China Three Gorges Corp. is low and said it will seek more information from the bidder about its plans for the Portuguese utility. “The executive board of directors notes that there are merits in the strategic intentions of the offeror,” Lisbon-based EDP said …

NEW DELHI / WAM A landmark agreement signed in February between the UAE and India expanding their bilateral energy relationship has started bearing fruit. India’s state-owned oil exploration company, ONGC Videsh Ltd (OVL) annou-nced receipt of the first tranche of equity oil cargo from Abu Dhabi’s Lower Zakum oilfield. A shipload of Das blend crude oil has reached New Mangalore …