Regional News

Bloomberg A Southeast Asian nation that was a bit player in the biofuel market is suddenly buying and selling unprecedented supplies. The US-China trade war may have something to do with it. Malaysia has emerged to displace the US as the biggest supplier of ethanol to China in just two months. It’s also the first time the Southeast Asian country ...

Bloomberg Libya’s top oil chief expects Opec and allied producers to exempt the strife-torn North African country from any future cuts in crude output. “The Opec community has understood the difficulties we face— Libya has withheld more than any other country from the global market,” National Oil Corp Chairman Mustafa Sanalla wrote in a phone message. “This should be factored ...

Bloomberg Amid the worst crude-price environment in its history, the Canadian oil industry is being ham- strung by internal divisions that are making it harder to rally around potential solutions. That draws a stark contrast to the US, where a less divided industry wields more clout. Most notable is the split between Canada’s pure producers, who are being devastated by ...

Bloomberg Natural gas took a breather after its biggest gain in eight years as forecasts for lingering US cold spurred concern supplies may not be enough to meet winter demand. Gas for December delivery eased 3.1 percent in Asia after surging 18 percent to settle at $4.837 per million British thermal units, the highest since the “polar vortex” of early ...

Bloomberg Billionaire Mukesh Ambani-owned Reliance Industries Ltd is considering a plan to boost its oil-refining capacity by about half, people with knowledge of the matter said. The proposed plant, to come up at the world’s biggest refining complex in Jamnagar, will be able to process as much as 30 million tonnes of crude a year, the people said asking not ...

Bloomberg BGC Partners Inc is entering the shipbroking market for the first time, buying Poten and Partners Group Inc to bet on demand for liquefied natural gas. Poten, which is based in New York, specializes in the LNG tanker and liquid petroleum gas markets, with 170 staff in offices from London to Singapore, Houston, Athens, Guangzhou and Perth. BGC didn’t ...

Bloomberg Canada’s oil sector is divided over whether to force a temporary cut to production, with some major producers pushing the controversial idea in a bid to ease a supply glut and halt a steep plunge in prices, according to seven people familiar with the matter. Executives from Canadian Natural Resources Ltd and Nexen Energy ULC are among those who ...

Bloomberg American fingerprints are all over oil’s record losing streak that’s plunged prices into a bear market. The State Department’s zigzag on Iran sanctions, President Donald Trump’s tweets about Opec supply, the demand-sapping trade war with China and the explosion of shale oil production are all key factors leading to the collapse in crude prices since early October, Ed Morse, ...

Bloomberg ConocoPhillips plans to invite bids by the end of the year for its remaining North Sea assets, which could be valued at up to $3 billion in a sale, according to people with knowledge of the matter. The assets, which would include what’s left of its holding in the Clair Field, are likely to draw interest from private equity-backed ...

Bloomberg Opec and allied oil producers will cut or adjust production as needed to balance the market, the group’s president, United Arab Emirates Energy Minister Suhail Al Mazrouei, said on Wednesday. If Opec+ needs to reduce output, it will do so, he said in a Bloomberg TV interview in Abu Dhabi. The producers will take whatever steps are necessary to ...