Energy

Reliance Urged to Pay Less Than $12 Billion for LyondellBasell Industries Reliance Industries Ltd.’s bid for bankrupt chemicals and fuels maker LyondellBasell Industries AF will be “positive” if India’s largest company pays less than $12 billion, brokerage CLSA Asia-Pacific Markets said.

Iranian Military Tests Air Defense System for Protecting Nuclear Plants Iran is testing an air defense system in the country’s largest military exercises to assess the ability to protect its nuclear plants, the government said.

Husky Energy Finds Up to 85 Million Barrels of Oil at Canada's White Rose Husky Energy Inc., the oil producer controlled by Hong Kong billionaire Li Ka-shing, said it found as much as 85 million barrels of crude after drilling a new well in the White Rose field off the coast of Canada.

Colonial Pipeline to Limit Shipments by Gasoline Pipeline on Excess Orders Colonial Pipeline Co., which operates the largest pipeline linking U.S. Gulf Coast refiners and East Coast markets, will limit shipments of gasoline because orders exceed the company’s ability to deliver fuel on time.

Eni to Buy Ugandan Production Assets From Heritage for Up to $1.5 Billion Eni SpA, Italy’s biggest energy company, agreed to buy Ugandan oil assets from Heritage Oil Plc, the U.K. explorer that said this month it was in talks with potential investors in the region, for as much as $1.5 billion.