Regional News

Bloomberg Alberta’s plan to boost crude prices through mandatory production cuts is working a little too well. Just over a week after Premier Rachel Notley announced that oil producers will be required to curtail output by 8.7 percent, the price of heavy Canadian crude has more than do- ubled, in some ca-ses rendering Wes-tern Canadian Sel- ect too expensive to ...

Bloomberg Angola’s state-run oil and gas company is ramping up efforts to lure foreign investors and halt a decline in crude output. Once Africa’s biggest oil producer, output has tumbled in recent years due to under-investment in new projects and natural declines at aging fields. If it fails to halt this decline it will put severe strain on an economy ...

Bloomberg Some of the world’s biggest fossil-fuel producers are calling on taxpayers to help them kick their pollution habit. The world’s biggest oil, natural gas and mining companies are stepping up their campaign to deploy carbon capture and storage, or CCS, as way to slow global warming. But with a potential $90-billion-a-year price tag, it’s too rich for them to ...

Bloomberg Big oil is investing more in US shale, not less, after the recent tumble in crude prices. The US shale sector has helped boost American production to an average of 10.9 million barrels a day this year, the most on record. Output is forecast to grow a further 11 percent next year, according the Energy Information Administration. ConocoPhillips said ...

Bloomberg France will save 39 billion euros ($44.5 billion) if it refrains from building 15 new nuclear plants by 2060, and bets instead on renewable energy sources to replace its all its aging atomic facilities, a government agency said. France should spend 1.28 trillion euros over the next four decades, mostly on clean power production and storage capacities, networks, and ...

Bloomberg Mexico plans to start awarding the construction of its seventh refinery as soon as March 2019, President Andres Manuel Lopez Obrador said at an event at the Dos Bocas port, in Tabasco, even as the nation´s refining system is operating at its lowest levels in three decades. Unveiling a plan for the nation’s refining system, Lopez Obrador said Mexico ...

Bloomberg China has gone all out to avoid a repeat of last winter’s crippling gas shortages. The early verdict: so far, so good. China’s gas needs peak for its so-called winter heating season. It’s a time of surging demand and firmer prices as the nation seeks to curb its reliance on dirty coal. The difference so far this year — ...

Bloomberg The activists who rankled Royal Dutch Shell Plc by filing climate-change resolutions for three straight years now are targeting other oil majors. A Dutch group that accumulates shares in oil companies in order to press them over greenhouse gas emissions, has filed another resolution against Shell for 2019. It also filed its first resolution against BP Plc and may ...

Bloomberg Exxon Mobil Corp, Chevron Corp and BP Plc are being pressed by investors with $1.9 trillion in assets under management to resist the Trump administration’s efforts to roll back Obama-era methane rules. The Interfaith Center on Corporate Responsibility sent a letter to 30 oil and natural gas explorers on behalf of 61 investors urging the companies to publicly declare ...

Bloomberg Bloated by debt, bled by corruption and battered by structurally declining sales, South African power utility Eskom Holdings SOC Ltd is facing what’s known in the industry as a “death spiral.” And the Johannesburg-based company poses the biggest credit risk to Africa’s most industrialised nation, according to S&P Global Ratings. More than a decade of unreliable supply and surging ...