LONDON / Reuters Global oil demand is expected to pick up this year but supply is growing at a faster pace, leading to a rise in inventories in the first quarter of 2018, the International Energy Agency (IEA) said. The IEA raised its forecast for oil demand this year to 99.3 million barrels per day (bpd) from 97.8 million bpd …

SINGAPORE / Reuters Asian spot liquefied natural gas (LNG) prices fell this week as demand eased in North Asia on expectations for higher temperatures in the region and as nuclear reactors restart in Japan, limiting the need for gas for power generation. Spot prices for May delivery slipped to around $7.70 per million British thermal units (mmBtu), said several trade …

LONDON / Reuters BP is seeking buyers for its stake in a 50-year-old oil and gas business in Egypt as it focusses on newer deepwater gas fields off the country’s Mediterranean coast, banking sources said. The London-based company has in recent weeks pitched to potential buyers its stake in Gulf of Suez Oil Company (GUPCO), a joint venture with the …