Regional News

Bloomberg President Donald Trump personally lobbied Saudi King Salman to list the Saudi Arabian Oil Co. on the New York Stock Exchange during a phone call between the world leaders, according to a readout provided by the White House. The call, which came as the president flew from Honolulu to Tokyo, followed the president tweeting his hope that the listing ...

Bloomberg One of the world’s biggest oil companies is working on hundreds of low-carbon energy projects, from algae engineered to bloom into biofuels and cells that turn emissions into electricity. The work by Exxon Mobil Corp. includes research on environmentally-friendly technologies in five to 10 key areas, according to Vice President of Research and Development Vijay Swarup. While any commercial ...

Bloomberg Oil closed at its highest in more than two years for a second day as support grew for OPEC to prolong output cuts, while supply threats abounded. Futures jumped 2 percent in New York, closing above $55 a barrel for the first time since July 2015. While Nigerian militants and Venezuela’s debt woes imperil crude output from two of ...

Bloomberg Baghdad’s talks with Turkey about ramping up oil exports from northern Iraq, including the semi-autonomous Kurdish region, is complicated by a $4 billion debt that the Kurds owe to Turkey, according to Iraq’s oil minister. Iraq is seeking an agreement with Turkey for all exports from the north, including the Kurdish region and the disputed province of Kirkuk, through ...

Bloomberg Venezuela’s sudden demand to renegotiate its billions in debt could complicate life for its two biggest oil patrons, China and Russia. President Nicolas Maduro caught bondholders off guard with a vow to wring debt relief from Venezuela’s creditors, sending the country’s bonds tumbling. But the move may also have been calculated to reassure the countries that are among Maduro’s ...

Bloomberg Oil supermajors are getting back to their normal way of life after surviving a price slump that shook the foundations of their business. BP Plc gave the boldest signal yet that the worst of the downturn was over, announcing that it would buy back shares for the first time in three years. After posting third-quarter earnings that comfortably beat ...

Bloomberg A ban on dirty fuels in areas surrounding one of the world’s most polluted cities is set to spur sales at India’s natural-gas retailers. India’s top court last week banned the use of petroleum coke and furnace oil in areas around the Indian capital, which is battling alarming levels of air pollution that’s risking human health. The ban, which ...

TOKYO / Reuters Japan’s Osaka Gas plans to raise its resales of liquefied natural gas (LNG) to third parties to 3 million tonnes a year by 2020, a top executive said on Wednesday, a move that would create more liquidity to Asia’s emerging natural gas markets. Most Asian LNG is supplied under fixed term contracts that include destination clauses that ...

Bloomberg Saudi Arabia, OPEC’s biggest oil producer, is also a leader when it comes to slashing the crude price the country needs to balance its budget. The kingdom will need oil to trade at $70 a barrel next year to break even, the Washington-based International Monetary Fund said in its Regional Economic Outlook for the Middle East and Central Asia. ...

Bloomberg Exxon Mobil Corp. agreed to pay more than $300 million to resolve air pollution violations tied to eight chemical plants in Texas and Louisiana, one of a pair of environmental settlements with oil companies announced by the Trump administration. Separately, Denver-based PDC Energy Inc. agreed to pay $22.2 million after storage tanks were found to be leaking smog-forming compounds. ...