Bloomberg Malaysia is in discussions with China-based contractors for compensation relating to pipeline projects worth 9.4 billion ringgit ($2.24 billion). The government is negotiating with China Petroleum Pipeline Engineering Co. and Huanqiu Project Management Beijing Co. on the total compensation to be paid by Suria Strategic Energy Resources Sdn., which was overseeing the projects, for the termination of the work, …

Bloomberg A global shortage of heavy crude will create hurdles for America’s key refining belts just as they ramp up gasoline production for summer driving season. In the Gulf Coast, dwindling heavy oil supplies have suppressed refining margins, while Midwest refiners may not reach the high run rates seen last summer. Gulf Coast profits from coking — a process where …

Bloomberg Stocks extended their global retreat on Wednesday as investors fled to bonds, driving yields down to multi-year lows in a fresh wave of risk aversion. Gold advanced. US futures slumped for the S&P 500 and Nasdaq 100 indexes, signalling an opening drop in New York. Declines in miners and tech companies pulled the Stoxx Europe 600 Index lower, after …