Talisman Energy Inc., the Canadian oil and natural gas producer being targeted by investor Carl Icahn, agreed to sell part of its Montney acreage to Malaysia’s Petroliam Nasional Bhd for C$1.5 billion ($1.4 billion).
Southwest Airlines Co. to United Continental Holdings Inc. are benefiting as jet fuel prices retreat from an eight-month high against diesel amid rising output and the lowest seasonal demand in more than two decades.
Royal Dutch Shell Plc failed to buy North Sea Forties and Oseberg crude grades at higher prices than deals yesterday. No bids or offers were made for Russian Urals in Europe. BP Plc sought to sell Nigerian Qua Iboe crude for a fourth day without success even after lowering the offer.
A convertible debt deal struck during the 2008 financial crisis led by billionaire Sheikh Mansour bin Zayed Al Nahyan of Abu Dhabi is set to trigger a contest for a slice of a $19 billion natural gas project.
The alleged fixing of oil prices is unlikely to sway traders from using Brent as a benchmark for buying and selling oil in the $5.7 trillion commodity market, according to analysts and brokers from London to Tokyo.