Bloomberg British Airways is refusing to offer pilots and other staff a new three-year salary package, citing an uncertain post-Brexit outlook in proposing a 12-month agreement instead. “We can agree a one-year pay deal,” the IAG SA-owned airline said in a letter to unions obtained by Bloomberg News. “This gives certainty over pay for colleagues in what is anticipated to ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced, on Saturday, the signing of an agreement, awarding an onshore block — known as Onshore Block 3 — to US based international oil and gas exploration and production company Occidental Petroleum. The award has been endorsed by Abu Dhabi’s Supreme Petroleum Council (SPC). Onshore Block 3 covers an ...

Bloomberg Venezuela’s oil production will likely fall 18 percent to around 900,000 barrels per day due to pressure from US sanctions and lack of materials for workers, compared to a current output estimate of 1.1 million barrels per day, according to Ann-Louise Hittle, an oil analyst at Wood Mackenzie.