Bloomberg Mexican President Andres Manuel Lopez Obrador is boosting Petroleos Mexicanos’ budget to 464.6 billion pesos ($23 billion) next year to reverse flagging oil production and increase domestic fuel output. The proposal sent to the lower house of congress would increase Pemex’s total budget, including capital investments, by 14 percent in 2019 compared with 407 billion pesos this year, according ...

Bloomberg Dominion Energy Inc.’s $7.9 billion takeover of a troubled South Carolina utility was approved by state regulators, clearing way for a deal that nearly collapsed over costs from a failed nuclear project. The unanimous vote comes nearly a year after Dominion proposed buying Scana Corp, which spent about $4.9 billion to expand the V.C. Summer nuclear plant then walked ...

Bloomberg Occidental Petroleum Corp will look for ways to cut costs other than dropping rigs, in response to the recent slump in oil prices, according to Chief Executive Officer Vicki Hollub. “We’re going to keep our rigs running and we’re going to figure out how to reduce costs in some other way that’s not impacting people who are depending on ...