News

Bloomberg China’s crude oil purchases from the Middle East and West Africa dropped to a four-month low in December, following a buying binge the previous month that saw the Asian country’s stockpiles swell. Observed flows to China from the two regions dropped to 5.04 million barrels a day, the lowest since August, after reaching a 2018-high of 6.45 million barrels ...

Bloomberg Norway’s oil industry is in full recovery mode, but the country’s top petroleum lobbyist is worried about growing opposition ahead. At the same time as it gave a big boost to investment forecasts for next five years, Norwegian Oil and Gas Association sounded one of its starkest warnings yet on political risk facing the nation’s biggest industry. Explorers and ...

Bloomberg Mexico’s opposition is accusing the government of addressing the issue of fuel theft irresponsibly as supply fears spread to the nation’s capital. Members of the senate are calling for the newly appointed energy minister Rocio Nahle and Petroleos Mexicanos chief executive Octavio Romero to explain how they will fix fuel distribution amid shortages at gasoline stations in central Mexico, ...

Bloomberg Electricite de France SA’s Italian unit has attracted potential bidders including Neptune Energy and Warburg Pincus’s Apex International Energy for its oil and gas business, people familiar with the matter said. Bidders for Edison SpA’s exploration and production assets, primarily located in Egypt and Italy, may offer as much as $2 billion, the people said, asking not to be ...

Bloomberg The growth engine for the world’s car industry has been thrown into reverse, with China recording the first annual slump in auto sales in at more than two decades and more pain predicted in 2019. Sales in the world’s biggest market fell 6 percent to 22.7 million units last year, the first annual decline in at least two decades, ...

Bloomberg China Road & Bridge Corp won a tender for 77 billion CFA francs ($134 million) to build a bridge in the West African nation’s commercial capital, Abidjan. The contract is part of the $700 million Cocody Bay precinct project, the presidency said in a statement published in the state-owned Fraternite Matin newspaper. Funded by the Islamic Development Bank, it ...

Bloomberg India stocks rose, led by Infosys Ltd after the software exporter said it will consider buying back shares and issuing a special dividend at its board meeting this week. Earnings season for companies began on Wednesday with IndusInd Bank Ltd. The S&P BSE Sensex climbed 0.7 percent to 36,216.90 in Mumbai. The broader NSE Nifty 50 Index added 0.3 ...

Bloomberg China and the US wrapped up three days of trade talks, with people familiar saying their positions were closer on areas including energy and agriculture but further apart on harder issues. Beijing will be releasing a statement soon on the negotiations, Chinese foreign ministry spokesman Lu Kang said, adding that a one-day extension shows both sides are serious about ...

Bloomberg Carlos Ghosn lost an appeal against his ongoing detention, diminishing prospects of an early release on bail for the auto industry icon fighting charges of financial misconduct while he was heading Nissan Motor Co. The Tokyo District Court rejected the petition filed by Ghosn’s defense team, according to a statement from the court shared with the media by the ...

Bloomberg Indonesian President Joko Widodo is on a mission to save billions of dollars lost to Jakarta’s notorious traffic congestion. Widodo, known as Jokowi, held a cabinet meeting and ordered officials to tackle the worsening traffic bottleneck in the Greater Jakarta area that authorities estimate causes about 65 trillion rupiah ($4.6 billion) of annual economic losses. The president also asked ...