Regional News

Bloomberg Alberta’s government maintained its mandated oil curtailment in February at the same level as January even as Canadian heavy oil prices surged. The province’s oil producers collectively must cut February output by 325,000 barrels a day, according to an email from Mike McKinnon, an energy ministry spokesman. The baseline for the cuts is the highest single month of production ...

Bloomberg Britain’s plan for a nuclear revival was thrown into disarray after the second Japanese company in as many months seemed to pull the plug on a new plant. The UK government has put atomic energy at the heart of its effort to attract 100 billion pounds ($130 billion) of investment to upgrade its aging reactors it needs to keep ...

Bloomberg India’s oil demand growth in 2018 rebounded from the slowest pace in four years as the country recovered from the shock of a cash ban and the roll out of a national sales tax. The nation’s consumption of petroleum products rose 4.1 percent to about 210 million tonnes, the Oil Ministry’s Petroleum Planning and Analysis Cell said. Growth improved ...

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 Sinopec Corp’s trading losses shouldn’t deflect investors from the potential opportunity presented by its shares holding near a two-year low. The refining giant, officially called China Petroleum & Chemical Corp, has slumped 10 percent in the past month amid a global oil rout and after it reported losses on derivatives linked to crude prices at its main trading unit ...

Bloomberg Idaho regulators rejected Hydro One Ltd’s $3.4 billion takeover of Avista Corp, the second time state officials cited political risks in Ontario as grounds to nix the Canadian company’s effort to buy the US utility. The Idaho Public Utilities Commission said “the management of Hydro One is subject to the province’s political pressure,” and the takeover would therefore be ...

Bloomberg American drivers are likely to pay a little less for gas this year and President Donald Trump is happy to take credit. The projected $2.70 a gallon pump price for 2019 is 3 cents lower than 2018 levels, although this year’s high could reach $3 as soon as May and top $4 in some cities, according to GasBuddy’s Price ...