MINEVILLE, N.Y. / AP Malaysia’s Petroliam Nasional Bhd. is seeking to move ahead with a proposed $27 billion liquefied natural gas project in western Canada after identifying a new site for shipping the fuel, a shift that may help reduce costs and quell local opposition. Petronas’s Pacific NorthWest LNG project would continue as planned with the liquefaction plant on …

  Bloomberg Oil traded near the highest closing level in 18 months amid conflicting signs on whether the supply surplus is diminishing in the US, the world’s largest fuel consumer. Futures slid as much as 1.1 percent in New York after climbing 6.2 percent the previous eight sessions, the longest run of gains in almost seven years. Traders faced mixed …

  Bloomberg Shale oil companies are ready to play chicken with supply and demand again. Roiled by a year that began with crude at a 12-year low and ended with a surprise OPEC agreement boosting prices, U.S. producers including Continental Resources Inc. and Pioneer Natural Resources Co. are promising not to overreact — or overspend. The temptation will be strong: …