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LONDON / WAM The Executive Director of the International Energy Agency (IEA) said Europe saved $8 billion on its natural gas bill last year because surging US shale production and a shake-up in EU energy markets forced Russia to change its gas pricing mechanism. Fatih Birol, speaking as the IEA released its annual gas report, said 2018 was a “golden …

Bloomberg Texas drillers may have found a solution to the stubborn natural gas glut that’s forced them to either burn it off into the air, or pay others to take it away. At least five producers, led by EOG Resources Inc., are experimenting with shooting highly-pressurised natural gas into past-their-prime wells that have seen their output slip. The wells are …

Bloomberg Total SA is positioning itself as Angola’s top foreign operator in the country’s efforts to revive oil production from the lowest level in more than a decade. The French energy giant could one day operate about 40 percent of the nation’s production, and is considering an additional investment of as much as $10 billion, according to Chief Executive Officer …

Bloomberg Royal Dutch Shell Plc plans to shower its investors in money, pledging returns of $125 billion between 2021 and 2025 — twice as much as a decade earlier. The oil and gas major says it can pull off this feat with crude at $60 a barrel and only a small increase in capital spending, an aggressive move to keep …

Bloomberg China Three Gorges Corp. is weighing a deal to gain cont-rol of EDP-Energias de Portugal SA’s Brazilian business, people with knowledge of the matter said. State-owned Three Gorges is considering merging its own Brazilian assets with EDP’s operations in the South American country, which are run through publicly-traded EDP-Energias do Brasil SA, according to the people. Three Gorges may …

Bloomberg JinkoSolar Holding Co., the world’s biggest solar panel maker, sees China’s photovoltaic power additions slumping this year and a greater share of its revenue coming from overseas amid uncertainties over Beijing’s new policies. China may add 30 to 40 gigawatts of solar power in 2019, down from 44 gigawatts the previous year, Vice President Qian Jing said in an …

Bloomberg Singapore’s second-largest property developer is offering to buy out shareholders of Millenium & Copthorne Hotels Plc in a deal that would value the company at $2.84 billion. City Developments Ltd said in a statement that it has made a final offer for the London-traded hotel chain at 685 pence per share, representing a 37 percent premium to this week’s …

Bloomberg Amazon.com Inc has unveiled a revolutionary new drone — part helicopter and part science-fiction aircraft — that the company expects to use for test deliveries of toothpaste and other household goods starting within months. The new device takes off vertically, then tilts to fly horizontally like a plane. It also features artificial intelligence, using a suite of sensors the …

Bloomberg Apple Inc is preparing to buy startup Drive.ai in a small deal that will bring more engineers with experience in autonomous vehicle technology to the iPhone maker, according to people familiar with the matter. It’s unclear how much Apple is paying. Drive.ai has raised about $77 million in funding since it was founded in 2015, and was valued at …

Bloomberg Walmart Inc already sells more food than anyone else. Now it wants to put those groceries right in your fridge. Beginning this fall, about 1 million people in Pittsburgh, Kansas City, and Vero Beach, Florida, will be able to get cereal and celery while away from home. Walmart staffers — sporting wearable cameras — will arrive in company-owned cars …