Bloomberg PetroChina Co isn’t seeking any discounted Russian oil and gas and is only purchasing fuel from the country through its existing contracts, company executives said. Deals with Russian counter-parties are operating normally, Chief Financial Officer Chai Shouping said on the company’s first-quarter earnings call. Transactions have continued to be settled in US dollars or euros despite international sanctions ...

  Bloomberg India’s government ordered coal-fired power plants that run on imported fuel to operate at full capacity to address an escalating energy crisis that’s threatening economic growth. The government took the unusual step of invoking a little-used provision in electricity laws to bridge a supply deficit that’s causing widespread blackouts. The order is valid until October 31, the power ...

  Bloomberg Petrobras posted strong first quarter results thanks to growing oil production during this year’s rally, prompting a rebuke from President Jair Bolsonaro who wants it to contain fuel prices ahead of an October election. Bolsonaro called on Petrobras to freeze gasoline and diesel prices, adding that its profits are unacceptable during a crisis. Recently elected Chief Executive Officer ...