News

Bloomberg Gas is in such hot demand in China right now it’s allowing a quirky market to flourish: transporting fuel on trucks. Call them pipelines on wheels. The country’s top suppliers are loading liquefied natural gas onto tanker trucks and delivering it to users to make up for insufficient pipeline coverage inland. The method is so effective ENN Group is ...

Bloomberg Equatorial Guinea expects international oil companies to spend about $2.4 billion on the nation’s oil and gas industry by the end of next year, a government official said. The investment should include about 11 new wells, the official said, asking not to be identified because the information is private. They didn’t give a breakdown in spending by company. In ...

Bloomberg Iraq’s semi-autonomous Kurds upgraded their oil export pipeline to accommodate future production growth from their region as well as from the contested Kirkuk area controlled by the central government in Baghdad. The Kurdistan Regional Government completed improvements to the pipeline to the Mediterranean port of Ceyhan by installing another pumping station in the Shaikhan area, the KRG’s Ministry of ...

Bloomberg Encana Corp.’s founder and former Chief Executive Officer Gwyn Morgan said he’s disappoi- nted by the driller’s $5.5 billion purchase of New- field Exploration, which moves focus to US and dashes hopes that company would represent Canada on world stage. Morgan, who named the oil and gas producer Encana to evoke “Energy Canada,” blames the move on PM Justin ...

Bloomberg Billionaire Alibaba co-founder Jack Ma called fighting over trade senseless and decried once again a widening conflict between the US and China. China’s richest person — who warned just last month that a trade war could last two decades — argued it was pointless to target goods because the Asian nation was on its way to becoming a major ...

Bloomberg China will set up a new trading venue in Shanghai that will make it easier for high-tech companies to access funding, as President Xi Jinping vows more opening measures to boost the world’s second-largest economy. The Shanghai Stock Exchange will also start a pilot programme on a registration-based system of initial public offerings, Xi said at the opening ceremony ...

Bloomberg India’s IT outsourcing giant Tata Consultancy Services Ltd. needs to offer a good explanation for why engineers hired at its American outposts are 13 times as likely to be fired if they’re not South Asian. The company was expected to go on trial on Monday in California over racial discrimination claims by American workers who lost their jobs at ...

Bloomberg Tencent Holdings Ltd. will expand its age-verification system to encompass its entire games line-up, an unprecedented undertaking in response to growing criticism it encourages addiction among youths. The Chinese social media and entertainment titan intends to check all gamers’ identities against police databases by 2019, extending a procedure it pioneered for the mobile phenomenon Honour of Kings. It will ...

Bloomberg BHP Billiton Ltd., the world’s largest mining company, halted all train operations in Western Australia on Monday after it was forced to derail a runaway train in the Pilbara. The driver was inspecting an issue with the train when the locomotive ran away. While rail operations are suspended, mining operations continue, it said. The Australian Transport Safety Bureau said ...

Bloomberg A range of European venture capital firms are seeking to raise more money in fewer funds as they ride a global trend towards larger investment vehicles. For five prominent firms in the region, sizes are expected to range from $100 million to $350 million each. Idinvest Partners SA, one of France’s largest VC firms, is targeting a $350 million ...