OFT says UK petrol market is working well

Motoring organisations have expressed disappointment after a study found drivers are paying fair fuel prices.

Falkland Islands liquid gas find commercially viable say explorers

British oil explorer Borders and Southern Petroleum said on Monday the development of its gas condensate discovery in the Falkland Islands was commercially viable.

Wall Street executives fret about talent drain

Jan 27 (Reuters) - As the titans of Wall Street banks gathered to network, gossip and consider the future of their beleaguered industry in Davos over the past week, one common worry emerged: who is going to take over when we leave?

Iraq Warns Exxon on Kurdish Deals Amid Plans for BP Development

Iraq’s oil minister asked Exxon Mobil Corp. (XOM) to stop dealing with Kurds if it wants to work with the central government even as he proceeded with plans for BP Plc (BP/) to develop fields in northern areas claimed by the Kurdish authorities.

Northeast Deep Freeze Causes Skyrocketing Natural Gas Prices

According to the U.S. Energy Information Administration , though the cold snap in the Northeastern United States is expected to ease over the weekend, the price of natural gas in New England and New York City is at its highest level all winter.

Exxon Mobil regains market-value crown from slumping Apple

NEW YORK (Reuters) - Exxon Mobil Corp has reclaimed its place as the largest U.S. publicly traded company by market value one year after losing it to Apple Inc, as shares of the technology giant extended their recent fall on Friday.

China firms to invest $2bn exploring shale gas reserves

China has stepped up its efforts to explore shale gas reserves as it looks to meet growing energy demand at home. It has awarded exploration rights on 19 shale gas areas to 16 firms.

China and Australia top list of 'carbon bomb' projects

China and Australia top a global list of planned oil, gas and coal projects that will act as "carbon bombs" and push the planet towards catastrophic climate change, a Greenpeace report warned on Tuesday.

UK scientists bid to mimic plant energy creation

Scientists are attempting to mimic the way plants harness energy from the sun in order to make a more efficient renewable fuel.

Japanese nuclear regulators present new safety measures

TOKYO: Japan's nuclear regulators today presented a draft outline of new safety measures to prevent or minimise the consequences of severe accidents like Fukushima nuclear disaster.

Backing energy efficiency would help stave off a triple-dip recession

New figures from Britain's leading economists suggest the UK could be heading for a triple-dip recession.

Iran president: Sanctions fight requires oil shift

TEHRAN, Iran (AP) — President Mahmoud Ahmadinejad said Wednesday Iran must move away from dependence on oil revenue to overcome Western sanctions that have slowed the economy and disrupted foreign trade.

ConocoPhillips selling some assets for $1.05B

HOUSTON (AP) -- ConocoPhillips is selling some properties in North Dakota and Montana to a subsidiary of Denbury Resources Inc. for $1.05 billion.

Oil and gas 'jobs boom' forecast for North Sea

A new forecast for the UK's oil and gas industry has suggested a "boom" this year in offshore jobs as North Sea oil continues to experience growth.

Biofuel production threatens air quality and crop yields, study finds

Fighting climate change by producing more biofuels could actually worsen a little-known type of air pollution and cause almost 1,400 premature deaths a year in Europe by 2020, according to a new study.

Oil Falls on Chinese Inflation Data

Oil dropped as accelerating Chinese inflation bolstered concern that economic stimulus may be curbed. The spread between crude in New York and London narrowed to the least in almost four months.

Asian oil companies make record buys in 2012

National oil companies from China, India, Malaysia and elsewhere in Asia snapped up international energy properties at a record rate in 2012, buying or partnering in nearly $50 billion worth of deals.

OPEC to Boost Supply for Final Winter Demand, Oil Movements Says

The Organization of Petroleum Exporting Countries will increase crude shipments this month to meet the final phase of peak winter demand in the northern hemisphere, according to tanker tracker Oil Movements.

Shell’s Drilling ‘Went Wrong’ in 2012, Salazar Says

U.S. Interior Secretary Ken Salazar said “things went wrong” in Royal Dutch Shell Plc (RDSA)’s oil exploration off Alaska’s Arctic coast in 2012 and the company might be unable to continue its work this year.

Iran oil exports down 40% in 9 months: Minister Story Comments

TEHRAN: Iran's oil exports have been slashed 40 per cent in the past nine months because of tough Western sanctions, Oil Minister Rostam Qasemi was quoted as saying on Monday, in a reversal of his previous denials of any decline at all.

Tax break extension breathes new life into U.S. wind power

LOS ANGELES (Reuters) - The U.S. wind industry is powering up once again after Congress extended a critical tax credit that wind companies say will save tens of thousands of domestic jobs and allow more clean energy projects to ramp up this year.

Congressmen attack Shell over 'alarming blunders' in Arctic

Royal Dutch Shell should be investigated for a “series of alarming blunders” in its Arctic drilling campaign, a group of US congressmen said, as salvage workers battled the weather to try to reach the oil major’s grounded drilling rig off Alaska.

Turkey inks $12 billion energy project with UAE Story Comments

ANKARA: Turkey signed on Thursday an agreement with the United Arab Emirates for the development of coal fields in southern Turkey to generate electricity.

Oil-rig maker Lamprell leaps 20pc on support from lenders

Shares in troubled oil-rig maker Lamprell jumped 20pc on Wednesday after it announced that its lenders had agreed to waive key banking covenants and that it had won a $40m North Sea contract.

Rig Runs Aground in Alaska, Reviving Fears About Arctic Drilling

WASHINGTON — One of Shell Oil’s two Arctic drilling rigs is beached on an island in the Gulf of Alaska, threatening environmental damage from a fuel spill and calling into question Shell’s plans to resume drilling in the treacherous waters north of Alaska in the summer.