Bloomberg China’s independent refiners burst onto the international oil market scene only a couple of years ago and lifted the nation past the US as the world’s No. 1 crude buyer. Now, a new generation of firms building some of the globe’s biggest plants are threatening to eclipse them. The original set of private processors, known as teapots, is clustered …

Bloomberg State-run generator NLC India Ltd is offering to reduce tariffs from two of its power plants after its main buyer asked the company to lower prices or shelve the projects, according to two officials with knowledge of the matter. NLC has offered to bring tariffs down by about Rs0.5 per kilowatt hour, taking a hit of 1.5 percentage point …

BENGHAZI / Reuters Libya’s giant Sharara oil field has been closed since late on Sunday, shutting off the production of more than 230,000 barrels per day (bpd), an engineer at the field and a Libyan oil source said. Libya’s National Oil Corporation (NOC) said in a statement on Monday that it was “working towards a swift restart of production. At …