Bloomberg BP Plc will sell a stake in an Omani gas block to Thailand’s national energy firm for $2.6 billion, part of a push to divest billions of dollars of assets and focus more on renewable energy. PTT Exploration and Production Public Co Ltd has agreed to pay the sum for 20% of Block 61, according to statements from both …

Bloomberg NextEnergy Renewables Ltd plans to raise 300 million pounds ($412 million) in an initial public offering in London, capitalising on growing demand for sustainable investments. The company will invest in renewable power assets and other infrastructure that enables the transition away from fossil fuels, the latest example of asset managers trying to match investors increasing concerns about environmental, social …

Bloomberg A unit of GCL-Poly Energy Holdings Ltd defaulted on a $500 million bond after ending an exchange offer with existing bondholders. GCL New Energy Holdings Ltd announced the default in a Monday exchange filing. The firm, which operates solar power plants, is majority owned by GCL-Poly, one of the world’s leading makers of solar-grade polysilicon, and whose shares have …

Bloomberg Indian firms are returning to the liquefied natural gas (LNG) spot market as prices for the fuel recede from record-high levels. Importers including Indian Oil Corp and Petronet LNG Ltd have issued at least eight tenders seeking supplies for February to March delivery in the last two weeks. So far, four of them have been awarded. Most end-users stopped …

Bloomberg UK lenders approved more mortgages in 2020 than in any year since before the financial crisis, as house hunters sought to take advantage of a temporary tax cut. The stamp duty holiday, which allows buyers to save as much as 15,000 pounds propelled the housing market into high gear even as the coronavirus crisis sent the wider economy into …

Bloomberg Global stocks and US futures climbed as concern over volatile retail trading receded and China took steps to ease a cash crunch. Silver crossed $30 an ounce for the first time since 2013 in a Reddit-fuelled frenzy. Europe’s Stoxx 600 Index rallied 1%, led by silver mining companies. The MSCI Asia Pacific Index added 1.7%, the biggest gain in …

Bloomberg South African stocks have made their best start to the year since 2012, even after last-week’s pullback, and JPMorgan Chase & Co. and Bank of America are among those predicting further gains. A global appetite for riskier assets has propelled emerging market inflows and the Johannesburg exchange is set to benefit from its heavy weighting in mining stocks as …

Bloomberg Chemicals maker Saudi Basic Industries Corp (Sabic) expects sales and earnings to increase this year after it beat analysts’ estimates by making a profit in 2020. The Riyadh-based firm, controlled by Saudi Aramco, said it sees the global rollout of coronavirus vaccines leading to a 2% to 5% gain in revenue this year. Pretax income will be “moderately higher” …

Bloomberg Chevron Corp slumped after posting a surprise loss and failing to increase its dividend, signaling that the aftermath of 2020’s pandemic-driven petroleum demand crash will linger for the world’s biggest oil companies for some time to come. The California oil titan lost a penny per share during the fourth quarter, compared with the Bloomberg Consensus for a 7-cent profit …

Bloomberg Europe needs to double the share of electricity produced from renewable sources by the end of the decade to be in with a chance of meeting a stricter emissions-reduction target that would put the region’s economy on track to climate-neutrality, according to a report. Europe wants to become the world’s first continent to zero-out greenhouse gases by the middle …