Bloomberg Venezuela’s state-owned oil company is taking an unusual step to try and increase production: shut fields. From this month, Petroleos de Venezuela SA will prioritise 13 fields in the Faja, a 55,000 square-kilometer (21,235 square-mile) strip north of the Orinoco River containing heavy crude oil that former president Hugo Chavez turned into the nation’s oil flagship project, according to ...

Bloomberg South Africa is working on a policy to govern the development of oil and gas resources after calls by potential investors to shield the industry from a long-running debate over laws that apply to mining exploration. The finalising of oil legislation has become more urgent since Total SA announced the first significant deep-water oil find off the coast of ...

Bloomberg Hong Kong’s old Kai Tak airport was famed for its hair-raising landings, as planes skimmed apartment rooftops before touching down just minutes from bustling Kowloon. Now, the site is morphing into one of the city’s biggest real estate developments with multi-million dollar apartments slowly filling up even as new parcels of land go for record prices. China Resources Land ...