Regional News

Bloomberg While the Trump administration’s efforts to bolster money-losing nuclear plants have hit a potential hitch, New Jersey may press ahead with a rescue plan of its own. Lawmakers are exploring legislation after the state’s biggest utility warned that its reactors are at risk of being shut down in the next two years without a “safety net” because they’ll be ...

TRIPOLI / Reuters The head of Libya’s UN-backed government held a rare meeting with the head of the National Oil Corporation (NOC) and the governor of Tripoli’s central bank to discuss funding to raise oil production. Relations between the three institutions have been fractious over the past two years due to stand-offs over public spending and funding for NOC. Ties ...

Bloomberg Almost all coal plants in the European Union will be outspending their income by the end of the next decade, relying on subsidies to stay open to back up wind and solar generation. About 54 percent of the region’s plants already fail to break even, according to a report by London-based Carbon Tracker Initiative. The facilities are kept online ...

Bloomberg Exxon Mobil Corp is joining Chevron Corp and other US refiners to supply the newly free Mexican fuel market. Exxon sent two cargoes totalling 120,000 barrel of diesel and gasoline from its refinery in Beaumont, Texas, to a private terminal in San Luis Potosi. The company is moving cargoes along Kansas City Southern Railway Co.’s network and plans to ...

SABETTA / Reuters President Vladimir Putin said that Russia was ready to sell gas to Saudi Arabia after he launched the first loading of liquefied natural gas (LNG) at the Novatek-led Yamal LNG project in the Arctic. Russia is the world’s biggest gas producer, but most of its exports are via pipeline rather than LNG, a super-cooled fuel that can ...

Bloomberg Crude edged higher as near-record Chinese orders for foreign crude signaled stronger demand in the world’s second-largest economy. Futures climbed 1.2 percent in New York. A rebound in China’s crude imports last month from a one-year low defused some of the pessimism among investors fanned by a US government report earlier this week showing bearish increases in fuel inventories ...

Bloomberg After spending years building up its gas-power business, General Electric Co. is trying to figure out how to keep pace in a world that’s no longer all that interested in fossil fuels. The plan to cut 12,000 jobs, or almost one-fifth of the power division’s global workforce, underscores GE’s bad bet on an old-school industry as natural gas loses ...

Bloomberg Cheniere Energy Inc., looking to help global customers meet climate goals under the Paris Accord, is turning to a former Obama administration energy expert as it expands its liquified natural gas exports. Christopher Smith, who helped develop the US Energy Department’s so-called life cycle emissions analysis for natural gas and coal, has joined Cheniere’s Washington office. The analysis was ...

Bloomberg A 1,000-foot ship will likely pull up to a buoy floating in the Gulf of Mexico next year, hook up its hoses and usher the US into a new era as a major oil exporter. The Louisiana Offshore Oil Port, which already handles imports from similar large ships known as Very Large Crude Carriers, or VLCCs, will likely be ...

Bloomberg Investor exhaustion with poor returns from the oil and gas industry may mean less financing to expand the US shale boom next year, and less of a drive for consolidation. After nearing a record in 2016, equity issues from US oil and gas companies are on pace for an eight-year low this year, amid doubts about the stability of ...