Bloomberg China’s biggest oil refiner posted increased profits for the first quarter even as the country’s worst pandemic outbreak threatens a pullback in fuel demand. Sinopec reported 23.3 billion yuan ($3.6 billion) in net income, an increase of 24% from the same period last year, according to an exchange filing. The Chinese oil giant, officially known as China Petroleum & ...

  Bloomberg Liquefied natural gas importers in Asia are bracing for higher spot prices as Russia’s move to cut some supply to Europe is poised to further tighten the global market. Moscow is cutting off gas to Poland and Bulgaria, making good on a threat to halt flows to countries that refuse President Vladimir Putin’s new demand to pay for ...

Call it poor judgment or bad luck, but India’s expansion of natural gas coverage to more than 90% of its population couldn’t have come at a worse time. In January, Adani Total Gas Ltd and others won keenly contested licenses to add new areas to city gas networks; in February, Vladimir Putin invaded Ukraine. Suddenly, billions of dollars in investment ...