Regional News

Bloomberg To reduce emissions and provide affordable electricity, the world needs to burn more fossil fuels, not less. That’s the message being delivered by the world’s biggest energy companies at the World Gas Conference in Washington, where they championed natural gas as the fuel of the future, rather than one that simply bridges the gap towards renewables. The world is ...

Bloomberg The good news for global natural gas exporters is that India’s largest utility is hunting for new supplies to import. The bad: It’s seeking shorter deals than have been traditional in the past. India now consumes almost 22 million metric tons a year of liquefied natural gas, but that demand could double within just four to five years, according ...

Bloomberg Oil posted the biggest weekly rise in more than two months as shrinking stockpiles and supply disruptions from Canada to Libya compounded the growing isolation of OPEC’s third-largest oil producer. Futures advanced 8.1 percent this week in New York, above London-traded Brent crude’s gain of 5.1 percent. The world’s two most important oil benchmarks are diverging as Saudi Arabia’s ...

Bloomberg Big oil is losing faith in President Donald Trump’s pledges to build the US into a self-reliant energy superpower. Top executives from Exxon Mobil Corp, Chevron Corp and Total SA all took shots at Trump’s trade plans at the World Gas Conference in Washington, expressing concern that US tariffs are a risk to oil and gas demand, and that ...

Bloomberg Baker Hughes will emerge from the shadow of parent General Electric Co amid unprecedented turmoil and dislocation in the global oil business. GE’s plan to unload its 62.5 percent stake in the oilfield-services company over the next two to three years will leave Baker Hughes in much the same place it was before the industrial conglomerate absorbed it last ...

Bloomberg Add Kazakhstan to the list of oil producers whose supply is restricted. The central Asian nation’s output slipped by about 240,000 barrels a day, data from the country’s Ministry of Energy show. The cause and duration of the dip aren’t known, but the country suffered a few supply outages earlier this year involving the giant Kashagan field in the ...

Bloomberg China Energy Investment Corp pledged almost $84 billion in shale gas and chemical manufacturing projects across West Virginia after President Donald Trump’s trade mission to Beijing in November, but when it came time to discuss details officials were a no-show. The chief executive and other officers of the world’s largest power company cancelled a visit to a petrochemical conference ...

Bloomberg Ghana’s state-owned oil refinery is seeking credit guarantees from the government after lenders declined to issue it loans for crude purchases, according to two people familiar with the matter. The Tema Oil Refinery, 29 kilometers (18 miles) east of the capital, Accra, halted production on June 21 after running out of crude stock, said the people, who asked not ...

Bloomberg Big Oil’s fortunes are becoming tied more closely to natural gas than ever before. Majors including Royal Dutch Shell Plc and BP Plc have boosted their proportion of gas output in recent years, helping them trim Exxon Mobil Corp.’s lead as the world’s most valuable oil company. Meanwhile Chevron Corp. added two giant Australian liquefied natural gas projects and ...

Bloomberg Angola is targeting an increase of about 250,000 barrels a day in oil output by 2020 and is already in discussions with oil majors Exxon Mobil Corp. and Equinor ASA to achieve this, said Sonangol’s Chairman of the Board Carlos Saturnino. New energy legislation and more favourable investment terms have already spurred interest from international operators, including Chevron Corp. ...