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Bloomberg A ban on dirty fuels in areas surrounding one of the world’s most polluted cities is set to spur sales at India’s natural-gas retailers. India’s top court last week banned the use of petroleum coke and furnace oil in areas around the Indian capital, which is battling alarming levels of air pollution that’s risking human health. The ban, which ...

TOKYO / Reuters Japan’s Osaka Gas plans to raise its resales of liquefied natural gas (LNG) to third parties to 3 million tonnes a year by 2020, a top executive said on Wednesday, a move that would create more liquidity to Asia’s emerging natural gas markets. Most Asian LNG is supplied under fixed term contracts that include destination clauses that ...

Bloomberg Saudi Arabia, OPEC’s biggest oil producer, is also a leader when it comes to slashing the crude price the country needs to balance its budget. The kingdom will need oil to trade at $70 a barrel next year to break even, the Washington-based International Monetary Fund said in its Regional Economic Outlook for the Middle East and Central Asia. ...

Bloomberg Exxon Mobil Corp. agreed to pay more than $300 million to resolve air pollution violations tied to eight chemical plants in Texas and Louisiana, one of a pair of environmental settlements with oil companies announced by the Trump administration. Separately, Denver-based PDC Energy Inc. agreed to pay $22.2 million after storage tanks were found to be leaking smog-forming compounds. ...

Bloomberg Congressional Republicans counting on a $1 billion windfall from selling oil-drilling rights in the Arctic National Wildlife Refuge to help pay for tax cuts may be in for a disappointment. Data from previous Arctic oil lease sales suggest the US is likely to collect less than a fifth of that billion-dollar goal over the next decade— about $145.5 million ...

Bloomberg China Literature Ltd., the online reading unit helping Tencent Holdings Ltd. build an entertainment empire, raised $1.1 billion alongside existing investors in its Hong Kong initial public offering, according to people with knowledge of the matter. The first-time share sale priced at the very top of a marketed range, the people said, asking not to be identified because the ...

Bloomberg SouChe.com, a Chinese car trading site, raised $335 million in a funding round led by Alibaba Group Holding Ltd. as it expands in auto-financing and prepares for a potential US IPO. Alibaba will become the biggest backer of the site and integrate parts of the business with its own e-commerce services. Warburg Pincus, Primavera Capital and CMB International also ...

Bloomberg There’s another energy drink pouring out massive wealth in Thailand. Sathien Setthasit, chairman and chief executive officer of Red Bull challenger Carabao Group Pcl, has become a billionaire after the company’s shares rose 38 percent this year and lifted his net worth to $1.1 billion, according to the Bloomberg Billionaires Index. The surge has also boosted the fortunes of ...

Bloomberg Grab, Southeast Asia’s largest ride-hailing app, is kicking off a new digital wallet service in Singapore as it stakes a claim to the region’s burgeoning mobile payments sector. Grab will enable its 4 million users in the city-state to scan a quick response, or QR, code to pay for local dishes such as chicken rice and prawn noodles at ...

Bloomberg The UK signalled it’s preparing to compromise over money in its stand-off with the EU, as a new round of Brexit talks offered the chance to break the deadlock. The deal on the divorce terms will probably be better for the remaining 27 EU countries than for Britain on the financial settlement, Brexit Secretary David Davis said. The first ...