Tag Archives: Bloomberg News Agency

Saudi Aramco signed a letter of intent to potentially acquire a minority stake in Renault SA and Zhejiang Geely Holding Group Co.’s planned combustion-engine venture as the oil behemoth seeks to expand into transport technologies. French carmaker Renault and China-based Geely would retain equal equity stakes in the new project, …

The United Arab Emirates’ national oil company wants to raise up to $2 billion from its natural gas business in what is set to be the largest initial public offering so far this year. Abu Dhabi National Oil Co. is selling a 4% stake in ADNOC Gas, with each off …

Saudi Arabia’s receipts from oil sales abroad fell for a sixth straight month but still capped a year that saw the kingdom rack up the highest annual income during Mohammed bin Salman’s time as crown prince and de facto ruler. The second-biggest windfall in Saudi history gives the crown prince …

OPEC remains flexible and can alter its oil-production strategy if market conditions change, according to Saudi Arabia’s energy minister. “We are flexible enough to adjust OPEC decisions if needed,” Prince Abdulaziz bin Salman said at a conference in the kingdom on Monday. He reiterated that the group’s policies are determined …

European natural gas prices are set to move higher through the rest of the year, futures contracts show, a sign that the energy crunch isn’t over yet. Benchmark Dutch futures for December are currently priced above €60 per megawatt-hour, compared with about €54 for March. Both are elevated for their …

India’s love for discounted Russia oil is widening its trade deficit with Moscow and the casualty is their much-touted rupee trade plan. The gap between their exports and imports is rising and that’s making the local currency payment mechanism futile, people familiar with the matter said, asking not to be …

European natural gas prices fell to the lowest level in almost four weeks as confidence grows for stable power generation through the remainder of winter. Benchmark futures slid as much as 4.5% before paring some of the loss. Sweden downgraded its power-cut risk to “low” from “real” in a sign …

European natural gas slipped with the end of a short-lived cold spell in sight while healthy stockpiles are helping tackle any boost in demand. Benchmark futures fell as much as 2.3%, after two days of modest gains. The ongoing chilly weather in parts of western and central Europe, coupled with …

Turkey ordered the resumption of crude-oil flows to the Ceyhan export terminal on the Mediterranean coast, according to an official with direct knowledge of the matter. State pipeline operator Botas had halted flows to the facility as a precaution on Monday morning, after the first of two massive earthquakes shook …

Turkey has halted crude-oil flows to the Ceyhan export terminal on the Mediterranean coast as a precaution following a devastating earthquake, according to an official with knowledge of the matter. State pipeline operator Botas made the decision on Monday morning after an earthquake in eastern Turkey, which was followed hours …