Regional News

Bloomberg After spending $50 billion on the world’s biggest bet on natural gas, Royal Dutch Shell Plc is at the forefront of Big Oil’s efforts to clean up its act. But what if the constant, insidious leaks of gas into the atmosphere actually make the fuel more polluting than coal? Methane, the main component in natural gas, can seep into ...

Bloomberg Russia’s natural gas exporter is channeling more money into its fight for market share as the US threatens its biggest European pipeline project with possible sanctions and looks to deliver more fuel to the region by tanker. Gazprom PJSC plans to spend 802 billion rubles ($13.7 billion) on routes to Europe and China in 2018, almost 41 percent more ...

Bloomberg Saudi Arabia announced its budget deficit narrowed in 2017 to below 10 percent of economic output for the first time since the collapse in oil pri- ces, as the kingdom prepared to unveil what is expected to be an expansionary budget for next year. The shortfall dropped to 8.9 percent of gross domestic product from almost 13 percent in ...

Bloomberg Crude lingered near $57 a barrel for a third day as oil workers in Nigeria suspended a strike and repairs to a crucial North Sea pipeline proceeded apace. Futures slipped 0.2 percent in New York, erasing gains from earlier in the session. Managerial workers in Africa’s second-largest crude-producing nation halted their strike and agreed to reopen talks next month. ...

Bloomberg Coal may have fallen out of favour in China, North America and Europe but India and other Asian nations will ensure the dirtiest fossil fuel continues to supply more than a quarter of the world’s energy. Rapid economic development in parts of Asia will rely on coal-fired plants, the International Energy Agency said in its Coal 2017 market report. ...

Bloomberg Oil extended gains toward $58 a barrel as US drillers targeting crude reduced the rig count for the first time in four weeks. Futures added 0.7 percent in New York after rising 0.5 percent. US explorers trimmed the number of rigs by four to 747 last week, according to Baker Hughes data. Hedge funds have boosted bets on rising ...

Bloomberg Nigeria’s rush to keep its citizens supplied with fuel is expected to boost purchases of European gasoline in December, offering a potential respite to European refineries and storage terminals threatened by an oversupply that has battered margins. Nigeria has been on a gasoline buying spree after fuel queues built up at filling stations this month, even as the government ...

Bloomberg China has ordered the country’s biggest explorers to cut their use of natural gas to divert more of the fuel to the north, where a harsh winter is causing shortages. China National Petroleum Corp., China Petrochemical Corp. and China National Offshore Oil Corp. should reduce the consumption of natural gas in their refineries, oil drilling and liquefied natural gas ...

Bloomberg Big Oil’s slump is over and industry domination beckons, according to Goldman Sachs Group Inc. In 2018, companies from Royal Dutch Shell Plc to Exxon Mobil Corp. will find themselves with a surplus of cash to fund dividends, ruling the world of deep water mega-projects and even coming out ahead in tax negotiations with oil-reliant governments around the globe, ...

Bloomberg New Jersey became the latest state to consider subsidizing nuclear power with a $320 million-a-year plan to keep struggling reactors from going out of business. The state’s two plants would get extra payments for providing emission-free power under legislation introduced in Trenton. The move follows similar efforts by New York and Illinois and comes amid pressure from Public Service ...