Bloomberg Oil held near $56 a barrel as markets digested political uncertainty from Germany to the Middle East and anticipation about OPEC’s next move kept traders on the defensive. Futures slipped as much as 1.7 percent in New York after rising 2.6 percent. In Germany, the breakdown of talks to form a new government coalition raised questions about the future …
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Bloomberg Can Norway dump $35 billion in oil and gas investments, and simultaneously convince that same industry to throw money into the country’s own fossil-fuel future? After the initial shock of learning that Norway’s $1 trillion wealth fund wants nothing to do with it, the petroleum industry says both are in fact possible. But the mood is shifting. While the …
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Bloomberg BHP Billiton Ltd. is aiming to complete its exit from the US onshore oil and gas sector within two years after settling on asset sales ahead of alternatives such as an initial public offering. “We’re determined to divest these businesses,†Chief Executive Officer Andrew Mackenzie said at an annual meeting in Melbourne. “We have concluded with our shareholders that …
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Bloomberg Mexico is speeding up a countrywide liberalization of fuel prices by a month in a bid to kick-start lagging private investment. Mexico’s energy regulatory commission, CRE, approved bringing forward an end to government-set pump prices in the southeastern zone comprised of Campeche, Quintana Roo and the Yucatan, known as region five, to November 30 from December 30. Mexico will …
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Bloomberg A relentless flow of natural gas from America’s shale basins is drawing bears to the market — and that’s music to the ears of at least one Asia-backed investor. Kalnin Ventures LLC — an investment company with funding from Thailand’s largest coal miner, Banpu Public Company Ltd. — has spent about $417 million over the past two years snapping …
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MUMBAI / NEW DELHI / Reuters India’s state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi’s goal of making the fuel a bigger part of the country’s energy mix. State-owned oil companies – Indian Oil, Bharat Petroleum and Hindustan Petroleum – are planning to raise gas contributions to between …
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Bloomberg Short-selling is rearing its head in the oil market again. After bullish bets on Brent crude hit a record and futures surged to two-year highs, hedge funds are pulling back with a sense that the rally reached its limit for now. Wagers on lower prices rose by the most since June as Middle East tensions took a backseat, while …
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BEIJING / Reuters Chinese oil refiners are churning out record amounts of fuel in the last quarter of 2017, looking to cash in on the best refining profits in nearly two years after a rally in diesel and gasoline prices. Officials at five state-owned oil processors said they are refining and shipping as much product as possible after receiving generous …
Read More »BONN / Reuters The United States is expected to account for more than 80 percent of global oil production growth in the next 10 years and it will produce 30 percent more gas than Russia by that time, he International Energy Agency (IEA) said. “This has implications on the oil markets, prices, trade flows, investment trends and the geopolitics of …
Read More »LONDON / Reuters A consortium behind a liquefied natural gas (LNG) import project in Pakistan, including oil giant Exxon Mobil and France’s Total, has been dissolved, shipping company Hoegh LNG said. Hoegh LNG was due to supply the project’s ship-based import terminal, a floating storage and regasification unit (FSRU), where LNG brought in by tanker is converted back to gas …
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