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LONDON­­­­ / Reuters Total will go ahead with development of a giant Iranian gas field this summer, its CEO told Reuters, in the first major western energy investment in the country since Tehran signed an international nuclear deal. Chief Executive Patrick Pouyanne said the French group would make an initial $1 billion investment after the United States extended sanctions relief …

Bloomberg Oil halted its slide below $45 a barrel as investors weigh a forecast decline in US crude stockpiles against a revival in output from Libya, which is exempt from the OPEC -led cuts. Futures rose 0.3 percent in New York after falling 1.2 percent. US inventories probably shrank by 1.2 million barrels last week, according to a Bloomberg survey …

Bloomberg Eni SpA was the biggest winner in Mexico’s latest auction of shallow-water oil prospects. The Italian oil giant took three of the 10 areas awarded, the national hydrocarbons commission said during an event in Mexico City. The tender, Mexico’s fifth since it ended a state monopoly in 2014, garnered winning bids from Royal Dutch Shell Plc, France’s Total SA, …

Bloomberg There’s yet another concern growing as oil prices continue to erode: A record US fracklog. There were 5,946 drilled-but-uncompleted wells in the nation’s oilfields at the end of May, the most in at least three years, according to estimates by the US Energy Information Administration. In the last month alone, explorers drilled 125 more wells in the Permian Basin …

Bloomberg Tata Group is considering an initial public offering of Jaguar Land Rover, the luxury-car maker the Indian conglomerate bought in 2008 for $2.4 billion, people with knowledge of the matter said. Senior Tata Group officials have held preliminary internal discussions over the past few months about the potential listing of Jaguar Land Rover on an international stock exchange, according …

Bloomberg Economic reform has slowed the flow of cars, electronics and furniture into India and the roll out of a national sales tax may temper import growth for the rest of this year, according to Maersk Line, the South Asian unit of the world’s largest container shipping company. Imports are more sensitive than exports to the goods and services tax, …

Bloomberg Tesla Inc. is close to an agreement to produce vehicles in China for the first time, giving the electric-car maker better access to the world’s largest auto market, according to people familiar with the matter. The agreement with the city of Shanghai would allow Tesla to build facilities in its Lingang development zone and could come as soon as …

Bloomberg India’s largest digital-payments company, Paytm, is seeking a license to set up a money market fund where users can store cash and earn interest, in competition with the country’s banks, according to a person familiar with the matter. Paytm has applied to India’s central Reserve Bank of India to start the fund and increase its offerings to its over …

Bloomberg European Union Trade Commissioner Cecilia Malmstrom said she’s “extremely worried” about a U.S. threat to curb steel imports for national-security reasons, saying the step could trigger protectionist reactions around the world. “That is opening a Pandora’s box,” Malmstrom said in an interview with Bloomberg News in her Brussels office. “Many other countries would maybe also refer to security and, …

Bloomberg Investors are extending the maturity of Greek bond holdings as they become more sanguine about the nation’s prospects after creditors agreed a bailout deal. The latest agreement by euro-zone finance ministers ended months of speculation over whether Greece would meet large bond payments due in July and spurred a rally in the country’s debt. PGIM Fixed Income and Greylock …