Bloomberg The world’s hottest offshore prospect for oil companies is off the coast of Guyana, where a string of major discoveries has drawn hundreds of millions of dollars in a quest for crude. The Trump administration is hoping to lure some of that investment to the US with a proposal to sell leases in almost every inch of the nation’s ...

TIGUENTOURIN / Reuters Algeria’s state oil firm Sonatrach will exchange crude for refined products with the world’s largest oil trader Vitol, a Sonatrach official said of the rare move that aims to reduce a record fuel import bill. Vitol would receive up to 2 million barrels a month of the OPEC member’s light, sweet crude and would deliver gasoline and ...

Bloomberg Morocco attracted bids from France’s Engie SA and EDF Energies Nouvelles to build 800 megawatts of solar power as the North African country seeks to curb energy imports. The French utilities, as well as Riyadh-based ACWA Power International, led groups bidding last month for engineering, procurement and construction contracts, Obaid Amrane, a member of the Moroccan Agency for Sustainable ...

Bloomberg European car sales reached a 10-year high in 2017 as widening economic growth boosted consumer confidence, with SUVs from French manufacturers Peugeot and Renault, Italian competitor Alfa Romeo and Japanese rival Toyota propelling demand. Registrations in 2017 increased 3.3 percent to 15.6 million vehicles, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said in a statement. The figure was ...

Bloomberg European Commission President Jean-Claude Juncker offered a new twist in his campaign to keep Britain part of the EU. A day after urging British Prime Minister Theresa May to reverse Brexit before it happens in March 2019, the head of the European Union’s executive arm said the UK can always re-apply for membership after departing. Juncker cited the EU’s ...

Bloomberg Melrose Industries Plc made a hostile 7.4-billion-pound ($10.2 billion) bid for GKN Plc, which spurned the approach, setting up a battle to win shareholder support for the deal or the aviation supplier’s own plan to break itself up. The offer values GKN at 430.1 pence a share in cash and stock, Birmingham, England-based Melrose said in a statement. After ...

Bloomberg As more international travellers decide to skip America, ten business associations including the US Chamber of Commerce and the National Restaurant Association have created a travel industry group aimed at reversing the growing unpopularity of the US as a vacation destination. Historically, America only had to sit back and let foreign tourists and their money roll in. Over the ...

Bloomberg The US has told the United Nations agency that aids Palestinians that it will contribute only about half of a $125 million payment to the body, while demanding a “fundamental reexamination” of the social-service agency’s mission and funding before deciding whether to pay the rest. “It is time other countries, some of them quite wealthy, step in and do ...

LONDON­­­­ / Reuters US President Donald Trump and European Union leaders should increase pressure on President Bashar al-Assad and his allies Russia and Iran to return to talks to end Syria’s civil war, Syria’s chief opposition negotiator said. Nasr Hariri said that unless the West forced Assad and his big power allies to seek peace then Syrian civilians would continue ...

Bloomberg Germany’s deeply divided Social Democrats are starting to face up to political reality. Confronted with a crucial vote this weekend on whether to enter formal coalition talks with Angela Merkel’s bloc or cast themselves into the wilderness to rebuild the party, many SPD members are coming to the conclusion that a return to government carries the lesser risk. Senior ...