Bloomberg Saudi Basic Industries Corp (Sabic), the Middle East’s biggest petrochemicals producer, posted a 5.4 percent increase in third-quarter pro-fit on higher prices and sales, meeting analysts’ estimates. Net income rose to 6.1 billion riyals ($1.63 billion) from 5.8 billion riyals a year ago, the Riyadh-based company said in a statement. The average estimate of analysts was for a profit …

Bloomberg China’s government has told at least two of its state oil companies to avoid purchasing Iranian oil as the US prepares to impose sanctions on the Persian Gulf state, according to people with knowledge of the matter. The freeze on imports by China National Petroleum Corp. (CNPC) and Sinopec is temporary and purchases may resume depending on the outcome …

Bloomberg Lawyers for Exxon Mobil Corp. stood before a New York judge and told the state’s attorney general to “put up or shut up” after spending three years investigating the company’s public disclosures about climate change, saying authorities should sue the energy giant or move on. Attorney General Barbara Underwood filed a fraud lawsuit against Exxon in state court in …