Bloomberg Indonesia is hiring tankers to store refined fuels at sea as it seeks to take advantage of plunging prices of oil products such as gasoline and diesel. State-owned PT Pertamina has provisionally chartered at least three long-range tankers to store clean fuels, said people with knowledge of the matter. The move comes as Indonesia, one of Asia’s biggest refined …

Bloomberg Sasol Ltd’s shares, down more than 80% in 2020, are trading as if the market expects years of bad news around oil and that the South African fuel and chemicals giant will struggle to escape its balance sheet constraints. Old Mutual Investment Group doesn’t share that pessimism, said Meryl Pick, a money manager who helps oversee the firm’s 10 …

Bloomberg Germany’s solar panels produced record amounts of electricity, exacerbating market forces that were already hammering the profitability of the country’s remaining coal plants. Gin-clear skies over central Europe helped photovoltaic plants produce 32,227 megawatts on April 20, beating the previous record on March 23. Bright conditions are expected to continue this week, according to Germany’s DWD federal weather service. …

Bloomberg The oil and gas industry shed nearly 51,000 drilling and refining jobs in March, a 9% reduction that is likely to get worse as futures prices fell into negative territory Monday. March’s job losses rose by 15,000 when ancillary jobs such as construction, manufacturing of drilling equipment and shipping are included, according to BW Research Partnership, a research consultancy, …

Bloomberg Clean energy is gaining a greater share of India’s energy mix, a silver lining amid the country’s prolonged virus lockdown that has cut power demand by about a quarter. Electricity generated from renewable sources, nuclear and hydropower made up 27% of India’s total generation as of April 15, data from grid operator National Load Despatch Centre show. That’s up …

Bloomberg Stocks in Europe and Asia retreated while US equity-index futures edged lower on Tuesday as concern about the health of North Korea’s dictator introduced more uncertainty into markets roiled by an unprecedented oil collapse and the coronavirus epidemic. The Stoxx Europe 600 index fell for the first time in four days, with energy companies leading the decline. Contracts on …

Bloomberg India’s benchmark stock gauge and currency fell, as a plunge in oil prices heightened investor concerns about global growth. The S&P BSE Sensex Index fell 3% to 30,692.12 as of 11:41 am in Mumbai, while rupee drop 0.3% to 76.7450 per US dollar, near a record low touched mid-April. Asia’s third-largest economy is near a standstill amid a prologued …

Bloomberg Japanese lenders must brace for rising bad-loan costs and investment losses even as the financial system shows resilience to the coronavirus-fuelled economic slump, according to the central bank. If the downturn is prolonged, more companies at home at abroad could face solvency problems, raising credit costs, the Bank of Japan said on Tuesday in its semiannual Financial System Report. …

Bloomberg Data on about 3,000 UniCredit SpA employees was put up for sale on cybercrime forums after a hacking attack. The data went on sale on April 19 and contained what the hacker said was information on UniCredit workers, including emails, phone numbers, encrypted passwords and names, Telsy, a unit of Telecom Italia SpA, wrote on its website. “The database …

Bloomberg Chinese banks lowered borrowing costs and the government promised to sell another 1 trillion yuan ($141.3 billion) in bonds to pay for stimulus spending after the economy had its first contraction in decades due to the coronavirus outbreak. The one-year loan prime rate was set at 3.85% versus 4.05% in March, according to a statement from the People’s Bank …