Regional News

  SINGAPORE / Reuters Crude oil sales from storage tanks around Singapore rose to an 11-month high in March, with nearly half of the volumes going to China and traders clearing inventories ahead of record shipments to Asia expected to arrive in April. Traders sold a total of 22.6 million barrels of crude from storage in Singapore, southern Malaysia and ...

  Bloomberg Oil traded near its lowest in two weeks as comments from some OPEC producers that the group will extend output cuts were undermined by signs of rising supply. Futures were little changed in New York after a gain in US output sparked a decline of 3.8 percent on Wednesday, the biggest loss since March 8. The first three ...

  Bloomberg Oman Oil Co., the sultanate’s state-owned energy producer, is seeking advice from banks to sell some energy assets and list units on the local stock market, following plans by its larger peer Saudi Arabian Oil Co. to offer shares to the public. The oil and gas producer, which has stakes in overseas businesses, wants to attract more foreign ...

  Bloomberg Norway can’t afford an abrupt cut in spending if the economy of western Europe’s biggest oil and gas producer is to continue growing, according to the man who most polls suggest will be prime minister after elections this year. Jonas Gahr Store, the leader of Norway’s opposition Labor Party, warned against a sudden adjustment after record expenditure by ...

  Bloomberg The oil boom in the Permian Basin, America’s most prolific crude play, has become a gas boom. With its $2 billion takeover of EagleClaw Midstream Ventures LLC, Blackstone Group LP became the latest company to bet on gas in a basin better known for its oil reserves. Its interest lies in “associated gas” — a term used to ...

  Bloomberg Oil declined below $53 a barrel as the US continued to ramp up drilling, stoking concern that the nation’s surge in output this year will offset OPEC-led efforts to cut a global supply surplus. Futures fell as much as 1 percent in New York, paring last week’s 1.8 percent advance. US explorers added 11 rigs last week, capping ...

  Bloomberg With a $3 billion purchase from ConocoPhillips, billionaire oilman Jeffrey Hildebrand is once again trying to succeed in a corner of the oil and gas world others are leaving behind. Hildebrand’s Hilcorp Energy Co. agreed to buy the fields in the San Juan Basin, taking on holdings in the southwestern US that Conoco sees as less appealing given ...

  Bloomberg The global oil market is moving closer to balance even as increases in US oil production push prices down in the short-term, Saudi Arabian Oil Co. Chief Executive Officer Amin Nasser said. “This is not a good indication of where the market is likely to be headed going forward, as the large new production capacity and investment we ...

  Bloomberg Wall Street banks’ growing optimism about the energy industry is the latest boost for US oil and natural gas producers already enjoying higher prices. JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. said in their first-quarter earnings results that rising oil prices have helped them free a combined $370 million they previously set aside to ...

  Bloomberg The spectacular failure of what was once the world’s biggest renewable-energy company has turned into a smorgasbord of wind and solar farms being gobbled up by infrastructure investors, clean-power developers and even a vegan soccer team. Since filing the largest US bankruptcy of 2016, SunEdison Inc. has hosted the biggest-ever sale of renewables assets. It’s shed at least ...