BP Plc failed to buy North Sea Forties crude at a lower price than a previous bid. While OAO Surgutneftegas awarded Russian Urals crude in a tender, there were no bids or offers for the grade in the trading window for a sixth session.
Edison SpA will seek arbitration as the Italian natural-gas arm of Electricite de France SA failed to renegotiate long-term deals with OAO Gazprom on Russia supply and Eni SpA over Libyan supply to better reflect market prices.
U.K. stocks climbed for a fifth day as Barclays Plc posted quarterly profit that met estimates while investors awaited a U.S. private-payrolls report and the outcome of a two-day Federal Reserve policy meeting.
Anadarko Petroleum Corp. has looked at seizing the foreign assets of Sonatrach, its state-owned partner in Algeria, to enforce judgment if it wins a $3 billion claim over an Algerian windfall tax on oil, the Financial Times reported, citing diplomatic cables obtained by WikiLeaks that it’s reviewed.
Algeria’s state-run Sonatrach and Russia’s OAO Gazprom have agreed to maximize their LNG sales worldwide through swaps, El Khabar reported, citing Sonatrach Chief Executive Officer Abdelhamid Zerguine.
Spain’s Industry Ministry has made provisions to cover a fine deriving from a tariff dispute between Gas Natural SDG SA and Algeria’s Sonatrach, Cinco Dias reported, citing unidentified people with knowledge of the matter.