Bloomberg Santos Ltd. agreed to buy ConocoPhillips’ northern Australia business for $1.4 billion in a deal that will boost the Adelaide-based oil and gas producer’s position in the growing Asian liquefied natural gas market. The transaction may allow Santos to become the country’s largest independent energy producer and capitalise on a push by Asian consumers, including China, to switch to ...

Bloomberg China’s biggest refiner plans to reduce operations from next month after a surge in the cost of shipping crude eroded margins. Freight rates have skyrocketed since the US announced sanctions on Chinese shipowners in late-September, triggering a flight from vessels owned by affected companies and a bidding war for alternative tankers. That’s driven up the cost of importing crude ...

Bloomberg UK carmakers, already reeling from more than 500 million pounds ($628 million) in costs to prepare for Brexit, made an eleventh-hour call on the government to strike a deal with the European Union to safeguard the future of the industry. Crashing out of the EU would threaten jobs and the sector’s long-term survival, the Society for Motor Manufacturers and ...