Analysis: Oil price rise raises specter of global recession

LONDON (Reuters) - A jump in energy prices is jamming the slow-turning cogs of an economic recovery in the West, but that may be nothing compared to the economic shock an Israeli attack on Iran would cause.

Oil producers tell G20 they will help avoid price pain: Italy

MEXICO CITY: Oil-producing members of the Group of 20 leading economies said on Saturday they would take measures to avoid a rise in petroleum prices from hurting the world economy, an Italian government official said.

Oil may breach $150 a barrel on mounting Iran crisis

MUMBAI: Oil, which touched $124 a barrel mark on Friday, appears set to touch a new record and breach the $150 mark on mounting Iran crisis. Analysts feel that the government is holding back from hiking fuel prices because of the ongoing elections and a steep hike is likely next month.

Germany to cut solar subsidies faster than expected

(Reuters) - Germany plans to bring forward cuts in solar power subsidies of up to 30 percent by almost a month to March 9, spelling further trouble for companies selling solar panels in the world's No.2 market.

Oil price highest for nine months

The price of oil has reached its highest level since May last year as concerns mount over Iran's nuclear programme.

Energy companies revisiting gas, oil deposits in NW Ohio

Energy companies are revisiting gas and oil deposits left under ground in past years, when oil pumps were a common sight on northwest Ohio farms.

Japan posts record trade deficit as energy costs climb

(CNN) -- Japan -- battered by a strong yen, slowing global demand and increased oil and gas imports due to last year's Fukushima nuclear disaster -- posted a record trade deficit of $18.7 billion in January, according to official figures released Monday.

Gas prices are highest ever for this time of year

NEW YORK (AP) — Gasoline prices have never been higher this time of the year.

Energy watchdog tells big firms: cut prices or else

A cap on fuel bills could be introduced for the first time in more than a decade amid rising concern that customers are being ripped off by the Big Six energy firms, the regulator Ofgem has told The Independent.

Cenovus profit soars as partner search extended

(Reuters) - Cenovus Energy Inc , Canada's No. 2 independent oil producer, said on Wednesday its quarterly profit tripled on production gains as it again extended its hunt for a joint-venture partner for a planned Alberta oil sands development.

Iran oil ministry denies ending exports to EU states

Iran's oil ministry has denied state media reports saying it had stopped oil exports to six European countries in retaliation for the EU's oil embargo.

Petrol prices may rise by Rs 3 soon after UP polls

NEW DELHI: Petrol prices are expected to rise by about Rs 3 per litre early next month after the crucial assembly election in Uttar Pradesh, industry executives said on Monday.

First Solar-to-Vestas Wind Profit Crash Deters New CEOs: Energy

Feb. 13 (Bloomberg) -- Renewable energy companies are losing their allure with top executives after profits and stock prices collapsed across the industry, making it more difficult for boards to replace underperforming managers.

Iraq Opens Offshore Oil Facility to Boost Export Capacity

Iraq, seeking to maximize crude oil exports, opened the first of four planned offshore mooring facilities in the Persian Gulf and intends by March to add 200,000 barrels a day to its capacity for loading tankers there.

Nigeria naira hits 5-week high on ample dollar supply

LAGOS (Reuters) - The Nigerian naira strengthened to a 5-week high against the U.S dollar on the interbank market on Wednesday, supported by increased dollar supply from oil companies.

BP increases dividend as profits hit £15bn

The 14pc dividend rise - taking payments to 8 cents (5.1p) per share - was the first increase since BP reinstated the payments it suspended during the oil spill.

Canada PM in China to discuss oil and energy issues

The Canadian Prime Minister, Stephen Harper, is visiting China for talks that will focus on oil sales, energy and other economic ties.

Gas prices could spike 60 cents or more by May

Get ready for another round of pain at the pump: $4 (or higher) gasoline.After rising 19 cents a gallon in the past four weeks, regular unleaded gasoline now averages $3.48 a gallon, vs. $3.12 a year ago and $2.67 in February 2010.

Oil near $97 amid signs US economy improving

SINGAPORE (AP) — Oil prices fell slightly to near $97 a barrel Monday in Asia despite signs U.S. economic growth is improving.

Three States to Require Insurers to Disclose Climate-Change Response Plans

Insurance commissioners in California, New York and Washington State will require that companies disclose how they intend to respond to the risks their businesses and customers face from increasingly severe storms and wildfires, rising sea levels and other consequences of climate change, California’s commissioner said Wednesday.

Shell profits up 54% on firm oil prices

Concerns about corporate profiteering in the energy sector are likely to be reignited again on Thursday with Shell reporting a 54% increase in annual earnings to $28.6bn (£18bn) - £2.2m an hour.

With Approval, Malaysia Refinery Expects to Open This Year

HONG KONG — Malaysian regulators granted an initial operating license late Wednesday for a giant rare earth metals refinery that has been at the center of a dispute over radioactive waste management.

Exxon profits rise on oil prices

The the world's largest oil company, Exxon Mobil, has seen its profits rise due to the higher oil price, despite producing less oil.