Regional News

Bloomberg The US may be exporting natural gas at a record clip, but that hasn’t stopped it from accepting new imports. A tanker with fuel from Nigeria has berthed at the Cove Point import terminal in Maryland, while a second ship with Russian gas is idling outside Boston Harbor. Pipeline constraints, depleted stockpiles and a 98-year-old law barring foreign ships ...

Bloomberg A diesel glut in Asia is encouraging traders of the fuel to ramp up cargoes from India to Europe, where stockpiles were ravaged by refinery halts and unusual weather earlier this year. Around 577,000 tonnes of the fuel already arrived this month or are en route to Europe from India’s refineries — whose supplies get sent east or west ...

Bloomberg Hess Corp tumbled the most in almost three years, wiping out $1.5 billion in market valuation, after work at the oil explorer’s most promising international investment was halted by a Venezuelan blockade. The intervention threatened to derail development of a 5 billion-barrel discovery off Guyana’s coastline that is so important to Hess’s future growth plans that it receives top ...

Bloomberg Kenya needs about $85 million annually in the short term for green projects in agriculture, transport and manufacturing, and as much as $888 million annually during the follow- ing five to 10 years, according to a banking industry lobby. The financing is needed to counter the effects of rapid climate change that could erase about 2 percent of economic ...

Bloomberg Suncor Energy Inc is working with Alberta’s government to help mitigate the “unintended consequences” of mandated oil cuts, a policy company opposed from the start and now says is hitting it disproportionately hard. Suncor said its initial required output curtailment is higher than the 8.7 percent industrywide level, without giving specific amount. That makes it harder to maintain safe ...

Bloomberg Attorneys general from nine coastal states are intervening in a lawsuit aimed at blocking seismic surveys that could help pinpoint oil under Atlantic waters but also imperil whales and dolphins. The move brings the heft and resources of top state law enforcement officials to a fight over the future of oil and gas exploration along the US East Coast. ...

Bloomberg With oil hovering just above its lowest level since August 2017, at least one large investor is dumping a BlackRock Inc exchange-traded fund (ETF) tracking the global energy industry. Two large blocks of the $1.4 billion iShares Global Energy ETF, or IXC, sold. The first was 1.1 million shares worth $34 million at 10:37 am in New York, and ...

Bloomberg The Trump administration outlined plans for selling drilling rights on every acre of the Arctic National Wildlife Refuge’s coastal plain, despite acknowledging potential oil spills and impacts to polar bear and caribou that roam through the region. The Interior Department’s draft environmental impact statement, published online, is a major milestone in the administration’s push to sell drilling rights in ...

Bloomberg Crude drilling increased in American fields even as explorers face the biggest quarterly drop in oil prices since 2014. Working US oil rigs rose by 10 this week to 883, according to data released by oilfield services provider Baker Hughes. More than 100 additional rigs have been deployed across American fields this year. It’s likely one of the last ...

Bloomberg Recent pledges of $2 billion in investment for South Sudan’s oil may be just the start, with the war-torn nation expecting further agreements in early 2019, its petroleum minister said. Ezekiel Lul Gatkuoth’s prediction comes as the African nation’s warring sides prepare to form a power-sharing government in the latest bid to end five years of conflict. The country, ...