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Bloomberg For US shale drillers who have seen prices climb almost 50 percent in six months, it’s been largely a rig-less recovery, a conundrum for traders seeking to forecast the future. Normally, you’d expect the rigs to return to the field in significant numbers as producers flush with added cash looked to boost output. But the weekly Baker Hughes tally ...

Bloomberg A BP Plc unit will pay $102 million to settle a lawsuit accusing the company of overcharging California for natural gas, the state’s attorney general said. The accord spared BP from facing a jury trial that was scheduled to start this week in San Francisco. A lawyer for the ex-employee who initially filed the complaint as a whistle blower ...

Bloomberg Eskom Holdings SOC Ltd., the South African power utility battling to maintain liquidity, said there will be a “major impact” from the regulator’s decision last month to grant only a quarter of its requested tariff increase. The National Energy Regulator of South Africa gave the cash-strapped utility permission to raise prices by 5.2 percent from April 1, far short ...

Bloomberg Japan’s plans to develop its renewable energy industry are lagging much of the world, as the nation has “prioritised keeping the status quo for fear of change,” Foreign Minister Taro Kono said. Japan wants renewable energy to account for 22 percent to 24 percent of its overall energy mix by 2030, while the global average today is already 24 ...

SINGAPORE / Reuters Singapore posted record sales volumes of marine fuels for the third straight year in 2017, even as the city state reva-mped the market last year leading to stiff competition and margin erosion. Singapore last year sold an all-time high 50.6 million tonnes of marine fuels, a 4.2 percent increase over the 48.6 million tonnes sold in 2016, ...

Bloomberg Morocco, which depends on imports for almost all of its energy needs, will soon tender for companies to build a $4.6 billion natural gas project, Energy Minister Aziz Rabbah said. The project will process gas for power and provide gas to industry, Rabbah said on Sunday in an interview in Abu Dhabi. With the financial and technical consultants chosen, ...

Bloomberg Tunisia’s main opposition parties derided a government pledge to increase aid for low-income families, urging Tunisians to step up protests over IMF-backed austerity measures as the country marks the seventh anniversary of the revolt that inspired the Arab Spring uprisings. “Government actions are just painkillers and cannot deal with the situation,” Ahmed Nejib Chebbi, head of the opposition Democratic ...

Reuters An Iranian oil tanker has sunk after burning for more than a week following a collision on Jan. 6 in the East China Sea, Chinese state media said on Sunday, adding that large amounts of oil are burning in the surrounding waters. Iranian officials said the remaining 29 crew members and passengers of the tanker were presumed dead. Iranian ...

ANKARA / Reuters Iran’s president said on Sunday the United States had failed to undermine a nuclear deal between Tehran and major powers, and hailed the accord as a “long-lasting victory” for Iran, state television reported. US President Donald Trump delivered an ultimatum to European signatories of the deal to fix the “terrible flaws” of the agreement with Iran, or ...

BAGHDAD / Reuters Iraqi Prime Minister Haider al-Abadi announced on Sunday his candidacy for the May 12 parliamentary elections to choose a prime minister. Abadi, a Shi’ite Muslim who led the country in the four-year war against IS, said he will seek to form a cross-sectarian block called ‘’the victory alliance’’ to contest the parliamentary elections, with candidates from other ...