Oil/Gas

ArcelorMittal and BHP Group will test a full-scale carbon capture operation in Belgium, in the latest sign of major steelmakers and miners working together to curb emissions. Steelmaking is one of the most polluting industries, approaching a 10th of all greenhouse gas emissions. That’s put it in the firing line of investors and environmentalists who want to see credible plans ...

The French government will spend 12 billion euros ($12 billion) to help small and mid-sized companies that are struggling to pay soaring energy bills. Prime Minister Elisabeth Borne said that the government will rely on three new mechanisms to help businesses, local authorities and associations, and to simplify access to aid. About 7 billion euros of the total cost will ...

European ministers pulled off what one diplomat called a miracle in July when they took just six days to agree to slash gas demand. Ever since, the bloc’s timelines have been slipping, and it now looks unlikely key new measures will be in place for winter. Ministers set another new deadline, and now aim to clinch a deal on the ...

Europe’s near-term natural gas supply glut means more fuel for Asia this winter. Liquefied natural gas (LNG) suppliers are already looking to redirect shipments to Asia for delivery from November onward due to more attractive prices. Asia LNG spot prices jumped above the European gas benchmark for the first time since June earlier this week. This is a reversal: For much ...

Germany is preparing for a worst-case scenario in which it needs to double financial aid to Uniper SE, the nation’s biggest gas supplier, to $60.14 billion. Uniper’s financial situation is worsening with an expected adjusted net loss of $3.2 billion for the first nine months of the year as it buys more expensive wholesale gas to meet supply contracts after ...

Halliburton Co. surpassed profit expectations amid a tight market for oilfield supplies as the world’s biggest provider of frack services gears up for increasing activity around the world. The company reported adjusted per-share profit of 60 cents in the three months through September, higher than the average estimate from analysts in a Bloomberg survey, and more than double the figure ...

Oil rises as the dollar tumbled, energising markets while investors continue to evaluate the potential for slowing commodities demand against near-term supply tightness. West Texas Intermediate traded near $86, temporarily finding direction from equity markets, which have been recently boosted by earnings reports. The dollar slid, providing an extra boost for commodities that are priced in the currency. Since late ...

Bloomberg Dana Gas has reached an agreement with key holders of $700 million of its Islamic bonds to restructure the securities, seeking to end a legal battle. A committee representing sukukholders, including BlackR ock Inc and Goldman Sachs Group Inc, have agreed to terms that include two options for creditors, the company said in a statement. Dana Gas and creditors ...

Bloomberg Oil had its strongest opening week for any year since 2013 as refiners and exporters whittled away at crude inventories tucked away in US storage tanks. Futures rose 1.7 percent this week in New York. The pull on oil stockpiles in the world’s biggest economy accelerated to 7.42 million barrels last week, a level last seen in early August. ...

DUBAI / Reuters The English Court of Appeal has refused an application by Dana Gas to appeal a decision allowing fund manager BlackRock to participate in English court proceedings over Dana’s $700 million of sukuk, Dana said on Monday. Dana is refusing to redeem its Islamic bonds on the grounds that they are no longer sharia-compliant and have therefore become ...