Regional News

Bloomberg Exxon Mobil Corp. plans to reduce the amount of natural gas it burns as waste by a quarter within two years to reduce climate-changing emissions, something long demanded by environmental groups and activist investors. Efforts will be focussed on oil wells off the coast of West Africa, Exxon said in a statement. In that region and others, gas produced …

Bloomberg JPMorgan Chase & Co. is expanding its oil and gas group with two hires from Morgan Stanley. Jonathan Cox is joining the New York bank as global co-head of oil and gas investment banking and co-head of its Houston office, according to an internal memo obtained by Bloomberg and confirmed by a spokeswoman. Michael Johnson is joining as a …

Bloomberg Santos Ltd. rejected Harbour Energy Ltd.’s $10.9 billion final offer and terminated talks. The Australian oil and gas producer said its independent directors, managing director and chief executive officer unanimously decided to reject the proposal because it didn’t represent the full value of the company. Oil prices and shares of its peers traded in Australia have rallied 14 percent …

Bloomberg China’s appetite for US liquefied natural gas may be about to get a lot bigger after the two nations agreed to pull back from the brink of a trade war. If China makes a substantial commitment to buying US LNG, it could bring $30 billion back into the country, according to a Height Securities LLC report. The White House …

Bloomberg Oil extended gains as a new wave of US sanctions on Venezuela stoked concerns over its crude production and as analysts forecast further declines in American stockpiles. Futures in New York added as much as 0.4 percent after US President Donald Trump ordered sanctions on debt owed to Venezuela after the Latin American country’s President, Nicolas Maduro, won a …

Bloomberg Glencore Plc is close to a $1 billion deal to buy Chevron Corp.’s southern African assets, potentially scuppering an earlier agreement with China Petroleum & Chemical Corp., according to three people familiar with the matter. The Switzerland-based miner and trader will complete the deal within the next six weeks, said one of the people who asked not to be …

Bloomberg As corporate defaults pile up in China’s onshore bond market, a unit of a once-promising energy conglomerate with $4.8 billion of debt and a checkered past said it won’t be able to meet its payment obligation on Monday. CEFC Shanghai International Group Ltd., a unit of the privately-held CEFC China Energy Co., failed to repay 2 billion yuan ($313 …

Bloomberg Oil advanced towards $72 a barrel as Venezuela’s election results escalated the risk of US sanctions against the OPEC nation, adding to mounting concerns about supply following curbs against Iran. Futures in New York rose as much as 0.9 percent. President Nicolas Maduro won the elections in Venezuela, increasing the prospect of US sanctions that could curb the nation’s …

Bloomberg Ghana sees the country’s state-owned gas-station operator as the leading bidder to partner Exxon Mobil Corp. to explore for crude at an offshore field, according to two people familiar with the matter. Exxon was awarded exploration and production rights for the Deepwater Cape Three Points block in January and must choose a local partner for a 5 percent stake …

Bloomberg Total SA said it will not risk investing in Iran following the return of US sanctions, unless it can secure a waiver. Continuing to do business in Iran would be too great a risk as the company has large operations in the US and depends on the country’s banks for financing its operations, Total said in a statement. So …