Regional News

Bloomberg The UK is becoming more dependent than ever on the European Union to look after its natural gas, even as it negotiates its exit from the bloc. Britain is expected to ship a record volume of natural gas from the UK to Belgium through an interconnecting pipeline on Wednesday, capping a year of buoyant flows to the mainland. The …

Bloomberg China has promised to make its skies blue again, but having some of the world’s most-expensive natural gas isn’t helping. The biggest energy consumer on earth wants to use more of the cleaner-burning fuel in place of the coal that’s choking its skies and causing pollution far exceeding the World Health Organization’s daily recommended limit. China has the ability …

Bloomberg A US appeals court rebuked the Environmental Protection Agency for unilaterally suspending Obama-era methane emissions regulations while the regulator reviewed the rule. The Washington-based panel’s 2-1 majority called the EPA’s move both unauthorized and unreasonable. It granted a request from six environmental groups to allow the rule to remain in place. The decision is the latest blow to the …

Bloomberg Chad is seeking to delay repayment of more than $1 billion of Glencore Plc-led oil-for-cash loans after crude prices plunged, the second time the African country has looked to restructure the debt in two years, according to people familiar with the matter. Glencore has approached the banks that supported the deal to start talks, while Chad has already appointed …

Bloomberg An EON SE nuclear plant that made billions for the German utility is now losing money. Essen-based EON is battling repeated delays to production at its Brokdorf reactor that has cost the company more than 100 million euros ($114 million) since halting in February, Almut Zyweck, a spokeswoman for EON’s nuclear unit, said by email. Brokdorf, a 1.4-gigawatt reactor …

Bloomberg Oil snapped its longest run of gains this year as OPEC output rose amid a boost from members exempt from supply cuts. Futures slid 0.5 percent in New York after advancing almost 11 percent the previous eight sessions. OPEC production in June climbed to the highest level this year because of increases from Libya and Nigeria, which aren’t bound …

Bloomberg Oil traded near the highest closing price in almost three weeks after US drilling slowed after a record expansion. Futures were little changed in New York after rising 8.3 percent the previous seven sessions. US drillers targeting crude reduced the number of active rigs for the first time in 24 weeks, according to Baker Hughes Inc. data. Libya’s oil …

Bloomberg Libya’s oil production has climbed to more than 1 million barrels a day for the first time in four years, further complicating OPEC’s struggle to regain control of the oil market. The North African country is pumping 1.005 million barrels a day, according to a person with direct knowledge of the situation, who asked not to be identified because …

Bloomberg Oil short-sellers have been on a roll, but their bets on declining prices may have begun to hit a wall. Hedge-fund wagers on lower West Texas Intermediate crude reached the highest level since August in the week ended June 27, after more than doubling in two months, according to Commodity Futures Trading Commission data. The bearish bets increased at …

CAIRO / Reuters Egypt attracted almost a nine-fold increase in foreign investment in domestic debt instruments in the 2016-2017 fiscal year, the finance ministry said. Appetite for Egypt’s domestic debt has increased since the central bank floated the currency in November as part of an International Monetary Fund lending programme aiming to revive the economy. For the 2016/17 fiscal year, …