BP says oil spill compensation fund running out

LONDON: British energy giant BP admitted on Tuesday that its $20 billion (15 billion euro) fund to compensate victims of the 2010 US oil spill disaster has almost run out of cash.

Saudi Arabian 2012 Oil Export Revenue Gained 5% as Iran Fell 12%

Saudi Arabia’s revenue from exports of crude oil and other petroleum products in 2012 rose 5.3 percent from a year earlier while Iran’s income from sales abroad sank by 12 percent, OPEC reported.

U.S. Gasoline Rises to $3.6746 a Gallon in Lundberg Survey

The average price for regular gasoline at U.S. pumps rose 8.38 cents in the past two weeks to $3.6746 a gallon, according to Lundberg Survey Inc.

EU, China resolve solar dispute - their biggest trade row by far

(Reuters) - China and the European Union defused their biggest trade dispute by far on Saturday with a deal to regulate Chinese solar panel imports and avoid a wider war in goods from wine to steel.

Gulf oil spill: Halliburton to plead guilty to destroying evidence

Halliburton has agreed to plead guilty to destroying evidence related to the 2010 Gulf of Mexico oil spill, the US department of justice said on Thursday.

South Sudan Cuts Back Oil Output, Braces for Shutdown

South Sudan made further reductions in oil output as it prepares to halt pipeline exports through neighboring Sudan amid conspiracy recriminations between the former foes.

EU-China solar deal hinges on price as deadline nears: sources

(Reuters) - Beijing's envoys have agreed central elements of a deal with the European Union that may yet avert punitive duties on Chinese solar panels that the bloc plans to impose next month, Chinese and European sources said on Wednesday.

Five of 'big six' energy companies drop green tariffs

Five of the "big six" energy companies have dropped their policies of offering green tariffs to new customers, in a move which green campaigners fear could undermine the national drive to tackle climate change.

Let's go solar: How communities make energy together

Sizzling temperatures across the UK make most of us think of barbecues, swimming or sun-tan lotion.

Alaska North Slope Oil Weakens as Price of Foreign Imports Falls

Alaska North Slope crude on the spot market weakened as the price of foreign imports it competes against for space in West Coast refineries fell.

WTI Crude Exceeds Brent for First Time in Almost Three Years

West Texas Intermediate crude became more expensive than Brent for the first time in almost three years as pipeline and rail shipments helped clear a bottleneck that reduced the price of the U.S. benchmark.

George Osborne unveils 'most generous tax breaks in world' for fracking

George Osborne has infuriated environmentalists by announcing big tax breaks for the fracking industry in a bid to kickstart a shale gas revolution that could enhance Britain's energy security but also increase its carbon emissions.

Israel’s Deepest Well Targets 1.5 Billion Barrels of Oil

The deepest oil well drilled in Israel’s 65-year history may be the most important.Houston’s Noble Energy Inc (NBL). will probe 6,500 meters (4 miles) below the Mediterranean seabed later this year, targeting as much as 1.5 billion barrels of crude, equal to about 15 years of Israeli demand.

Drastic reduction in new home energy efficiency targets

Energy efficiency targets for all new homes built in Wales have been cut drastically by the Welsh government. Building regulations will require an 8% cut in carbon emissions from next year, rather than the planned 40%, saving £4,000 on the cost of building a house.

China in $5 bn drive to develop disputed East China Sea gas

BEIJING: Chinese state-run oil companies hope to develop seven new gas fields in the East China Sea, possibly siphoning gas from the seabed beneath waters claimed by Japan, a move that could further inflame tensions with Tokyo over the disputed area.

Gazprom sets aside £2.4m to buy tablet for chief executive Alexei Miller

Russian gas giant Gazprom has set aside 119.7m rubles (£2.4m) to buy a specially-made tablet for chief executive Alexei Miller.

Hollande rules out shale gas exploration

French president Francois Hollande has ruled out exploration for shale gas during his term on office, ending hopes that a ban on hydraulic fracturing could be reviewed following a legal challenge by a US firm.

Sudden Spike in Gas Prices, but Increases May Be Short-Lived

HOUSTON — With the summer vacation season picking up, gasoline prices at the pump are inching higher, a seasonal increase that was underscored by an unusual one-day bump on Friday of 3 cents a gallon.

More oil than ever shipping by rail

With U.S. oil production booming and pipelines operating at full capacity, the amount of oil shipped by rail car surged in the first six months of the year -- jumping 48%.

Biofuels plant opens to become UK's biggest buyer of wheat

A new biofuels plant that has opened today near Hull will be the UK's biggest buyer of wheat, and the biggest supplier of animal feed.

Iraq offers 3 discovered oil blocks to India

NEW DELHI: Iraq has offered three discovered oil blocks to India and agreed to meet country's growing energy demand by raising crude oil supplies, oil minister Veerappa Moily said.

Japan moves closer to restarting nuclear reactors

TOKYO: Japan moved a step closer to restarting nuclear reactors Monday as four utility companies applied for safety inspections of 10 idled plants, the clearest sign of a return to atomic energy nearly two and a half years after the Fukushima disaster.

Quebec Disaster Spurs Rail-Versus-Pipelines Debate on Oil

A Quebec train disaster that killed at least five people and left about 40 missing promises to touch off debate over the safety of shipping crude oil by rail or pipelines such as TransCanada Corp.(TRP)’s Keystone XL.

Oil prices escapes after affects of Egypt Crisis, lowers after a spike earlier in week

LONDON: West Texas Intermediate oil retreated from the highest level in 14 months as the ouster of Egypt's president without widespread violence and continued shipments through the Suez Canal eased concern of a supply disruption.

Japan utility hires nuclear safety advocate

TOKYO (AP) -- The Japanese utility still battling leaks of radiated water at the nuclear plant sent into meltdown by the 2011 tsunami thinks it has found the perfect person to oversee its safety campaign — a foreign woman.

Industry panning Obama's climate change push

BOW, N.H. (AP) -- President Barack Obama's push to fight global warming has triggered condemnation from the coal industry across the industrial Midwest, where state and local economies depend on the health of an energy sector facing strict new pollution limits.

Gasoline prices begin summer slide

NEW YORK (AP) -- Gasoline prices are on a summer slide, giving U.S. drivers a break as they set out for the beach and other vacation spots for the Fourth of July.

Feds: U.S. plutonium facility at risk of collapsing — “Potential for very high offsite dose consequences”

An earthquake could collapse the building at Los Alamos National Laboratory, N.M., where plutonium cores of nuclear bombs are produced, releasing deadly doses of radiation, the Department of Energy’s inspector general reported on Thursday.

Shale gas promises could just be hot air

The British Geological Survey estimates of huge potential reserves of shale gas in the north-west are being hailed as key to the UK's energy future (Report, 28 June).

Fukushima new ‘blueprint’ for terrorists? Harvard Professor: “All you need to do is cut off power for an extended period”

Japan’s Fukushima Dai-Ichi nuclear plant, whose 2011 meltdowns dislocated 160,000 people, may provide a new blueprint for terrorists seeking to inflict mass disruption, security analysts said at a United Nations meeting.