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  Bloomberg The companies that drill black gold are going a little bit green: taking stakes in renewable energies that are growing rapidly, enabling oil firms to diversify revenue and show commitment to fighting climate change. In the past, such swings have been written off by environmental campaigners as greenwash, and just as likely to be reversed once low oil ...

  Bloomberg Libya’s largest oil export terminal may re-open as early as next week in a move that would provide relief for the cash-strapped country holding Africa’s largest crude reserves. Tankers may be able to load at Es Sider port by next week as maintenance work at the terminal is almost complete, a National Oil Corp. official said by phone ...

  Bloomberg Iran boosted oil output at three western fields faster than it expected as rival OPEC producer Saudi Arabia called for a collective output cut later this month to help rebalance the market. Output at the fields west of the Karoun River, near Iran’s border with Iraq, rose to about 250,000 barrels per day from 65,000 barrels in 2013, ...

  AFP Saudi Arabia’s oil minister said it was “imperative” that OPEC nations finalise an agreement over a cut in oil production aimed at boosting crude prices, Algerian media said on Sunday. Khalid al-Falih met his Algerian counterpart Noureddine Boutarfa on Saturday and called on cartel members to stick to the surprise cut deal, reached in Algiers in September. “In ...

  Bloomberg Rich countries must close all their coal-fired power plants by 2030 to have a chance of holding global warming to tolerable levels, a report from an environmental research group said. China would have to phase out the most polluting fossil fuel by 2040 and the rest of the world by 2050, according to Climate Analytics, a Berlin-based non-profit ...

  Bloomberg Donald Trump’s rise is the latest setback for India’s ambition to become a factory for the world. Having missed the export-driven steam-boat that transformed China and fellow East Asian economies over the past several decades, India under Prime Minister Narendra Modi had pinned hopes on an ambitious “Make in India” campaign to make up lost ground. With the ...

  AP Pakistan’s top civilian and military leaders travelled to the country’s southwest on Sunday to open a new international trade route by seeing off a Chinese ship that’s exporting goods to the Middle East and Africa from the newly-built Gwadar port. The first convoy of Chinese trucks carrying goods for sale abroad has arrived in Pakistan amid tight security ...

  Bloomberg Vietnam expects economic growth to accelerate in 2017 as it boosts domestic businesses to shield the economy from worsening global uncertainty following the election of Donald Trump as US president. “Trump’s victory adds uncertainty to international financial markets and global trade would be affected,” Vu Viet Ngoan, chairman of the National Financial Supervisory Commission, which advises Prime Minister ...

  Bloomberg Fosun Group, the Chinese conglomerate that owns Club Med and Cirque du Soleil, is betting on new technology to boost its foray into the feature film industry, backing a Studio 8 Iraq war movie to be shown at five times the standard frame rate. Filmed at 120 frames-per-second, the $48 million “Billy Lynn’s Long Halftime Walk” is set ...

  Tokyo / AFP Some of the world’s top trading firms have agreed to build a faster data transmission network between Chicago and Tokyo, according to a person familiar with the matter, a move that would accelerate trading between two of the major centers of finance. The roster of firms in the joint venture — dubbed Go West — includes ...