Regional News

Bloomberg Less than two weeks in, 2018 is shaping up to be the year of the fracker. The world’s two biggest oilfield service providers, Schlumberger Ltd. and Baker Hughes, are the best performers in the Standard & Poor’s 500 Energy Index this year. Even smaller rivals are cashing in on investor enthusiasm over a 50 percent rise in oil prices ...

Bloomberg Royal Dutch Shell Plc is taking small steps towards a future dominated by electric cars, renewable energy and carbon constraints, demonstrating its intent not to remain solely an oil and gas company. The energy giant agreed last month to purchase First Utility Ltd., the UK’s seventh-largest power provider. Its offshore-wind partnership with Eneco may expand further, with newspaper Telegraaf ...

Dubai / Reuters Oil’s price rally this year to its highest since May 2015 may seem a source of glee for OPEC, but some in the producer group fear the gains could prompt shale companies to crank open their spigots and flood the market. Benchmark Brent crude rose further above $68 a barrel, supported by oil output cuts led by ...

Dubai / Reuters Saudi Aramco is working to secure billions of dollars in cheap loans from banks seeking to strengthen their ties with the oil giant before its stock listing, banking and export credit agency (ECA) sources said. Citigroup (Citi), Standard Chartered and Sumitomo Mitsui Banking Corporation were advising on the transactions, which two sources said could raise at least ...

Bloomberg European natural gas traders stand to lose about $1 billion in sales to Ukraine this year. Companies from Eni SpA to Uniper SE will see combined gas shipments to the east European nation fall by about that amount after a Stockholm court ordered Ukraine to resume some imports from Russia after a break of more than two years. European ...

Bloomberg The Trump administration is ruling out plans to sell new drilling rights off the coast of Florida, including eastern Gulf of Mexico waters coveted by oil companies, amid pressure from Republican Governor Rick Scott. The about-face came just five days after the Interior Department said it was considering selling oil and gas leases in more than 90 percent of ...

LONDON / Reuters Gasoline exports from Europe to the Middle East have surged in recent months to record highs as traders seek to fill a gap due to particularly heavy refinery maintenance in the region in the coming months, according to shipping data and trading sources. So far this month, at least a dozen tankers have been confirmed or placed ...

Bloomberg India, the largest importer of Chinese solar equipment, proposed a 70 percent safeguard duty on cells and modules shipped from China and Malaysia, citing “threat of serious injury” to the domestic industry. Acting on an application by five local cell and module makers, the Directorate General of Safeguards, Customs and Central Excise made the proposal in a document dated ...

Bloomberg Saudi Arabian Oil Co. is set to appoint banks including Goldman Sachs Group Inc. and Citigroup Inc. to help manage its initial public offering, people familiar with the matter said, as the state-owned crude producer pushes ahead with what could be the world’s largest share sale. JPMorgan Chase & Co., HSBC Holdings Plc and Morgan Sta- nley, which have ...

Bloomberg Oil steadied near $62 a barrel on estimates that US crude stockpiles declined for an eighth week as the rebalancing of global markets continues. Futures added as much as 1.3 percent in New York to the highest intraday level in almost three years. US inventories probably fell by 3.75 million barrels last week, according to a Bloomberg survey before ...