Regional News

Bloomberg Egypt is paring down its requests for liquefied natural gas. State-run Egyptian Natural Gas Holding Co. is seeking 12 LNG cargoes for delivery in the first quarter of 2018 in a tender, according to two people with direct knowledge. That compares with more than 100 cargoes it planned to purchase via tenders or government-to-government contracts for this year. Traders …

BAGHDAD / Reuters Iraq said it was increasing oil exports from the southern Basra region by 200,000 barrels per day to make up for a shortfall from the northern Kirkuk fields. The output from the northern Kirkuk region fell this week in the course of military operations to take it back from Kurdish fighters who have been there since 2014. …

Bloomberg Natural gas traders are facing the possibility of another mild US winter. Temperatures from December through February will be above normal for much of the southern US, East Coast and Northeast, the US Climate Prediction Center said in a report. A run of “beautifully mild weather” this autumn has already weighed on the market, said John Kilduff, founding partner …

Bloomberg Schlumberger Ltd. and Baker Hughes, the world’s two biggest oilfield service companies, say North America’s growth engine is slowing. The investment appetite by explorers in North America “seems to be moderating” with the priority now being preservation of cash flow rather than the pursuit of continued production growth, Schlumberger said in an earnings statement. Baker Hughes, said in its …

Bloomberg Sunoco LP’s bondholders are creating an obstacle for a $3.3 billion deal struck by the company to sell more than 1,100 gas stations and convenience stores to 7-Eleven Inc. A group of creditors has told the company it intends to oppose Sunoco’s attempt to change the terms of the credit pact governing about $1.6 billion of bonds — a …

MOSCOW / LONDON / Reuters Russia’s biggest oil company, Rosneft, has agreed to take control of Iraqi Kurdistan’s main oil pipeline, boosting its investment in the autonomous region to $3.5 billion despite Baghdad’s military action sparked by a Kurdish vote for independence. The move appears to be part of a strategy by President Vladimir Putin to boost Moscow’s Middle Eastern …

BAGHDAD / Reuters The global oil market is improving and stabilising, Saudi Oil Minister Khalid al-Falih said in Baghdad on Saturday. In a speech at the opening of the Baghdad International Exhibition, Falih praised the cooperation between Iraq and Saudi Arabia, which he said had helped to boost global oil prices. Speaking later to reporters, he said Saudi Arabia and …

LONDON / Reuters Oil producers are working to build consensus on extending their deal to reduce supplies, OPEC’s secretary general said, with the potential for continuat- ion throughout 2018 forming a basis for talks. The Organization of the Petroleum Exporting Countries, plus Russia and nine other producers, are cutting oil output by about 1.8 million barrels per day (bpd) until …

KHOBAR / Reuters National oil firm Saudi Aramco plans to set up a construction company with local and international partners to build non-oil infrastructure in Saudi Arabia, industry sources familiar with the plan said. Saudi and foreign companies have expressed interest in the project, and will form consortiums which apply to take part at a later date, one of the …

Bloomberg US shale drillers are tapping on the brakes in the wake of a growing investor revolt that’s held down company values, even as they’ve scored historic production numbers. The evidence is stacking up: The latest rig count showed the biggest one-week drop in the Permian Basin in 19 months, while Schlumberger Ltd. and Baker Hughes, the two largest oil …