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Bloomberg Despite Interior Secretary Ryan Zinke’s January 9 declaration that Florida is “off the table” for offshore oil drilling, that activity is actually still on the table. The acting director of the Bureau of Ocean Energy Management made clear that Zinke’s decision, announced on Twitter and described to reporters in the Tallahassee airport, doesn’t stop a formal process of considering …

Bloomberg Plans to export natural gas from Iraqi Kurdistan got a boost after reserves were upgraded at two key fields. Yet successful development still hinges on the region’s turbulent politics. The Miran and Bina Bawi deposits hold 14.8 trillion cubic feet of contingent gas resources, explorer Genel Energy Plc said in a statement after an audit was carried out by …

Bloomberg China’s crude oil production will likely extend its slide into a third year as state-run giants focus on pumping natural gas to meet President Xi Jinping’s drive to use more of the cleaner-burning fuel. China, which last year overtook the US as the world’s top oil importer, will see the pace of crude output declines from its old, high-cost …

Bloomberg Saudi Arabian Oil Co. is ready for its initial public offering in the second half, with the government yet to decide where to list the shares, Chief Executive Officer Amin Nasser said. The kingdom will decide where the stock will be traded, not the company, Nasser said at Aramco headquarters in Dhahran, in eastern Saudi Arabia. One option being …

Bloomberg Royal Dutch Shell Plc and BP Plc agreed to annual deals to buy Libyan crude, underscoring how the North African country’s recovering production and improving security are enticing some of the world’s largest oil companies. Shell’s deal with Libya’s National Oil Corp. was the first of its kind since 2013, and Europe’s biggest oil company will load its first …

Bloomberg OPEC and other global oil producers including Russia won’t be discussing how to end output cuts when they meet this weekend in Oman even as crude prices have recently been rising, Kuwait’s oil minister said. Compliance among all countries in the cuts was 125 percent in December, Bakheet Al-Rashidi told reporters in Kuwait City. The rate is preliminary as …

Bloomberg When OPEC and Russia review their strategy for clearing a global oil glut, they’ll face an unusual problem: it could be working just a bit too well. As their output cuts, coupled with robust global demand, tighten the market, crude prices have soared to a three-year high near $70 a barrel. That’s prompted warnings — from Iran’s oil minister …

Reuters Oman’s sovereign wealth fund is planning to start a $1 billion infrastructure fund to boost investment in projects including the Gulf state’s road, transport and energy systems, according to people familiar with the matter. The State General Reserve Fund is talking to international banks and potential investors for the financing, the people said, asking not to be identified because …

DUBAI / WAM A new report from Middle East Electricity (MEE) states the GCC requires a combined $131 billion worth of investment in electricity generation, transmission and distribution over the next five years to cope with increasing demand from growing populations, expanding economies and climatic changes. The report, ‘GCC Power Market’, reveals that despite the GCC’s current power-generating capacity of …

Bloomberg The pace at which China exports the fuel it doesn’t want is set to jump by more than four times in 2018, according to the nation’s biggest energy producer. That’s a harbinger of bad news for processors in the rest of Asia — from South Korea to Japan and India — who now have to contend with higher crude …