Bloomberg Oil declined below $53 a barrel as the US continued to ramp up drilling, stoking concern that the nation’s surge in output this year will offset OPEC-led efforts to cut a global supply surplus. Futures fell as much as 1 percent in New York, paring last week’s 1.8 percent advance. US explorers added 11 rigs last week, capping ...

  Bloomberg Iran, holder of the world’s biggest natural gas reserves, boosted output by inaugurating six projects at the giant South Pars offshore field. The country raised total production capacity at South Pars to 570 million cubic meters a day of gas, putting it almost on par with neighboring Qatar, which produces from an adjacent portion of the same deposit, ...

  Bloomberg China’s natural gas production surged to a record last month and coal output rebounded as economic growth accelerated power use in the world’s largest energy user. Natural gas production in March rose 8.2 percent from the average of the first two months of the year to a record 13.6 billion cubic meters, according to data Monday from the ...

  Reuters Iraq plans to build three new plants to process natural gas currently being flared at southern oil fields, and use the fuel for power generation and to increase the nation’s income from energy exports, Oil Minister Jabar al-Luaibi said on Monday. Iraq is forced to flare some of the gas produced alongside crude oil as it lacks the ...

  Bloomberg South Korea’s National Pension Service agreed to restructure 1.55 trillion won ($1.4 billion) of bonds issued by Daewoo Shipbuilding & Marine Engineering Co., helping the world’s largest shipbuilder tide over a payment crisis that had threatened to almost shut the company. An agreement came after Daewoo, the Korea Development Bank and Export-Import Bank of Korea took steps to ...

  Bloomberg Singapore home sales surged to the highest monthly total for nearly four years in March, a month in which the government rolled back some property curbs following a three-year slide in prices. Developers sold 1,780 units in March, the most in a month since June 2013 and more than double the 843 sold in the same period last ...

  Bloomberg Tokyo’s skyline is set to welcome 45 new skyscrapers by the time city hosts the Olympics in 2020, as a surge of buildings planned in the early years of Abenomics near completion. Japan’s capital will see nearly 50 percent more new high-rise space in the next three years than it did in the preceding three, Toyokazu Imazeki, chief ...

  Bloomberg Ant Financial raised its agreed offer for MoneyGram International Inc. by 36 percent as the financial-services company controlled by Chinese billionaire Jack Ma tries to top a competing offer and overcome security concerns. The revised bid is worth $18 a share in cash, up from a previous offer of $13.25, the companies said in a joint statement. The ...

  Bloomberg India, the world’s second-biggest consumer of urea, is boosting production of the crop nutrient seeking to end imports in the next five years. The South Asian nation, where agriculture makes up about 14 percent of the economy, produced 24.5 million tons of urea in the year ended March 2016, compared with consumption of around 32 million tons during ...

  Bloomberg Bain Capital agreed to invest about $816 million in Hugel Inc. to gain control of the South Korea-based maker of beauty products, including botox. Hugel shares rose by the most this year, pacing gains by a rival maker of the anti-wrinkle treatment. Bain will pay 354.7 billion won ($312 million) for 985,217 new shares in Hugel and 100 ...