Coalition's energy policy blamed for insulation job losses

More than 800 jobs have already been lost in the insulation industry as a direct result of the government's flagship energy efficiency policy, a business group has claimed.

Japan's new government sticks to three-year nuclear safety goal

TOKYO (Reuters) - Japan's new government said on Friday it hoped to stick to a three year deadline to decide whether to restart all nuclear reactors after safety checks, despite the country's newly formed nuclear regulator saying the deadline was impossible to meet.

Brent holds near $111 on US fiscal uncertainty; Japan supports

SINGAPORE (Reuters) - Brent crude held near $111 per barrel on Thursday as jittery investors stayed on the sidelines with a deadline to avert a U.S. fiscal crisis approaching, while hopes the new Japanese government's policies will spur demand supported prices.

Chevron to buy stake in Kitimat LNG from Encana, EOG

CALGARY, Alberta (Reuters) - Chevron Corp said on Monday it will enter the Canadian liquefied natural gas business with the acquisition of the 50 percent stake in the Kitimat LNG project held by Encana Corp and EOG Resources Inc.

Russia unveils $25 bn oil link to Pacific

MOSCOW: Russian President Vladimir Putin unveiled the final extension of a new $25 billion oil pipeline to the Pacific that underscores the energy power's gradual shift away from stagnant European markets.

Is nuclear power necessary for solving climate change?

The relative costs and benefits of nuclear energy have been the subject of heated debate in recent years thanks to a combination of factors, including the need to cut carbon emissions and the 2011 accident at Fukushima, Japan.

Russia clashes over energy with Belarus, Ukraine, EU

MINSK/MOSCOW (Reuters) - Russia plunged back into the disputes over energy with Ukraine and Belarus that have repeatedly disrupted oil and gas supplies to European Union countries, and it also termed EU energy policy as "uncivilized".

BP and Rosneft plan TNK integration

Bob Dudley, BP’s chief executive, is to join a steering committee to mastermind the integration of TNK-BP (LSE: BP.L - news) into Rosneft, the companies announced on Thursday.

Asian buyers to deepen Iranian crude import cuts in 2013

BEIJING/SINGAPORE: Asian buyers of Iranian crude will deepen import cuts in 2013 and struggle to send cash to Tehran to pay for oil as tightening Western sanctions choke the flow of hard currency to Iran's coffers.

YPF, Chevron sign Argentina shale pact

BUENOS AIRES, Argentina (AP) — Argentina's cash-strapped state energy company signed a partnership deal Wednesday with Chevron Corp. for a "massive development" of the South American country's vast nonconventional oil and gas resources.

EU declares no winner in carbon capture competition

The first round of a European commission contest to fund carbon capture and storage (CCS) projects failed to find a winner, the EU's executive said on Tuesday, deepening concerns that the technology will not be emerging soon to help cut emissions.

Climate Change Pits Sioux Against Barges for Scarce Water

For the Standing Rock Sioux Tribe, whose lands straddle the North and South Dakota border, river water means drinking supplies.

Fracking splits coalition over future for British energy

Cuadrilla Resources, the tiny company pioneering shale gas exploration in Britain, caused two minor earthquakes with its drilling near Blackpool.

Consumers get break on lower gas prices

Relief at the pump meant a drop in overall prices in November, according to the government's latest inflation reading.

Gas fracking: Ministers approve shale gas extraction

The government has given the go-ahead for a firm to resume the controversial technique known as fracking to exploit gas in Lancashire.

Exelon Skips Utility Fly-In to Lobby on Wind Tax Credit

A CEO of a major utility is skipping an industry-wide fly-in on dividend taxes to instead lobby lawmakers to oppose the production tax credit for wind energy.

Nexen Approval Paves Way for More Foreign Deals in Gas

Canada’s approval of two Asian takeovers valued at $20 billion may spark more foreign acquisitions of natural gas producers in the country while capping state-owned control of Alberta’s oil sands.

Fracking laws needed 'to control UK's dash for gas', says MEP

Brussels will move to regulate the shale gas industry, a senior member of the European parliament has warned, claiming the UK cannot be sure it knows what it is doing in embarking headlong on a "dash for gas".

Climate Talks Yield Commitment to Ambitious, but Unclear, Actions

DOHA, Qatar — The annual United Nations climate change negotiations concluded here late Saturday after the customary all-night negotiating session and recriminations over who must bear the costs and burdens of a warming planet.

BP partner Rosneft and Exxon to drill in Siberia

BP has been forced to take a backseat in its drive to expand its Russian operation after its joint venture partner Rosneft confirmed it was to explore for oil in Western Siberia with US rival ExxonMobil.

U.S. closer to being major natural gas exporter

The United States is one step closer to becoming a major exporter of natural gas.A long awaited report from the Energy Department issued Wednesday said the benefits of exporting the gas far outweigh the costs.

North Sea oil production 'could rise in short-term'

With high oil prices of at least $90 per barrel, output from the UK could rise to 1.4m barrels per day (bpd) in 2017 as large new fields are developed, the University of Aberdeen study found.

South African Company to Build U.S. Plant to Convert Gas to Liquid Fuels

WESTLAKE, La. — In an ambitious bet that the glut of cheap natural gas in the United States will last for many years, a South African energy company announced on Monday that it would build America’s first commercial plant to convert natural gas to diesel and other liquid fuels.

Dash for gas sees 30 new gas power plants by 2030

Britain could have 30 new gas-fired power stations running by 2030 under a dramatic expansion of generation plans to be unveiled this week.

Exclusive: Chevron, Transocean agree to change offshore Brazil procedures

RIO DE JANEIRO (Reuters) - Chevron Corp and Transocean Ltd have agreed to change offshore safety and operating procedures as part of a lawsuit seeking nearly $20 billion in damages from the companies for a November 2011 oil spill, Brazilian public prosecutors told Reuters on Friday.

Energy Bill to create 'low carbon economy', says Davey

Energy minister Ed Davey has unveiled the government's much-trailed Energy Bill, setting out the roadmap for the UK's switch to "a low-carbon economy".

China's emissions expected to rise until 2030, despite ambitious green policies

China's position on its rising greenhouse gas emissions may seem contradictory. While the country flaunts ambitious green-tech investments and energy consumption targets, its officials continue to prioritise GDP growth over many environmental concerns.

BP Sells $1.1 Billion of U.K. Oil Assets to Abu Dhabi’s Taqa

BP Plc (BP/), the energy producer that’s disposing of assets in the wake of the 2010 Gulf of Mexico oil spill, sold stakes in North Sea fields to Abu Dhabi National Energy Co. (TAQA) for $1.1 billion.

Renewable energy will help diversify economy

German Ambassador Dieter Haller opened the three-day “Renewables made in Germany” exhibition yesterday at the InterContinental Hotel in Riyadh.

Oil Fall as European Finance Ministers Meet on Greece

Oil dropped as euro-area finance ministers meet to negotiate a bailout payment for Greece and as American leaders prepared to wrestle with a budget agreement.

Time is running out: the Doha climate talks must put an end to excuses

Last month was the 333rd consecutive month that global temperatures were above the 20th century average, and 2012 will almost certainly be the hottest ever recorded in the US.

UK energy deal triples renewable subsidy by 2020

LONDON: British government support for low-carbon electricity generation will triple by 2020 after the energy and finance ministries reached a deal to end months of wrangling over costly reforms.

Ofgem 'failed to act' on gas price-fixing warning

The energy regulator, Ofgem, failed to implement its own consultants' recommendation a year ago to tighten up the way energy companies report trading activities – and admits it may now have to revisit the issue.

Oil Prices Stay Steady Despite Mideast Conflict

HOUSTON — American drivers filling their tanks for the Thanksgiving weekend can forget the impact of the Middle East on oil prices for a day or two.

Middle East violence pushes oil prices up

NEW YORK (CNNMoney) -- Oil prices rose further Monday as violence between Israelis and Palestinians ignited fears that that the conflict could spread throughout the region.

Gazprom feels the chill as its dominance is weakened

A vast northern energy project frozen, billions of dollars in lost profit, legal disputes and investigations – the creeping shale gas revolution has left Gazprom, Russia's state gas monopoly, reeling.

John Hayes: 'windfarms will not replace gas or nuclear'

Windfarms are "extremely inefficient and costly" and will not be able to replace gas or nuclear power generation, according to a letter sent by the Conservative energy minister, John Hayes, which reveals the extent of his antipathy to the technology.

Crude Oil Rises on Concern Mideast Tension Will Disrupt Supplies

Oil rose in New York on concern that the clash between Israel and Hamas may escalate into a wider conflict that would endanger Middle East crude exports.

China Cuts Fuel Prices 1st Time Since July as Crude Drops

China will cut gasoline and diesel prices tomorrow for the first time since July, threatening to reduce refiners’ processing margins in the world’s second- biggest oil-consuming nation.

BP 'to admit criminal misconduct over Deepwater Horizon in plea agreement'

BP is expected to plead guilty to criminal misconduct over the 2010 Deepwater Horizon disaster through a plea agreement it has reached with the US department of justice that may be announced as soon as Thursday, according to two sources familiar with discussions.

George Osborne: make UK a world leader in energy storage

Chancellor George Osborne has said the UK must take a global lead in developing a series of low carbon technologies, including energy efficient computing and energy storage, in his first major speech on scientific issues.

Alaska to collect $255m for BP pipeline leaks

The US state of Alaska will collect $255m related to BP's pipeline leaks and a resulting shutdown in 2006 in the Prudhoe Bay oilfield, drawing a line under an accident that contributed to the British company's US troubles.

Oil Rises as Consumer Sentiment Gains

Oil advanced as data showing U.S. consumer confidence climbed to a five-year high, helping ease concern that a political stalemate in Washington will lead to a fiscal crisis.

EU, China spar again over solar trade

HONG KONG (CNNMoney) -- The European Commission has launched an investigation into solar panels and components imported from China, the latest skirmish in a row that could raise tensions between the trading partners.

Duke Energy 3Q earnings hurt by mild weather

NEW YORK (AP) — Duke Energy, the nation's largest electric utility by market value, reported stronger-than-expected earnings for the third quarter but company executives said the outlook for strong economic growth in the U.S. is dim.

Climate change is back on the table

NEW YORK (CNNMoney) -- Climate change is once again a hot topic in the Untied States.

Government 'prepared to walk away’ from EDF nuclear talks

Britain will walk away from talks with French giant EDF Energy over its planned UK nuclear plant if the burden for the consumer is too high, says John Hayes, the energy minister.

China files EU solar subsidy complaint with WTO

China has filed a complaint with the World Trade Organization (WTO) against subsidies provided by some European governments to solar panel makers.

New nuclear reactors could be eligible for subsidies, says minister

The nuclear industry could get subsidies from the taxpayer to build new reactors, the new energy minister has said, despite opposition in the coalition agreement and repeated assurances to the contrary.

Germany Discusses National Energy Plan

BERLIN — Chancellor Angela Merkel held talks on developing a nationwide strategy on renewable energy with the governors of Germany’s 16 states on Friday, at a time when energy prices are rising and the opposition is critical of her government’s efforts.

Questor share tip: Shell's aggressive strategy makes sense and its dividend is attractive

Royal Dutch Shell has ambitious plans to increase production over the next few years, but some investors fear that the level of investment needed will crimp returns.

After Sandy, gas lines stretch for miles

NEW YORK (CNNMoney) -- Motorists in New York and New Jersey are lining up for gas in queues that are miles long in the wake of Superstorm Sandy.

BG Group sees £6bn wiped off its value after production warning

BG Group suffered the biggest one-day share price fall in its history on Wednesday, wiping about £6bn off the value of the company, after warning it would see no growth in its oil and gas production next year.

BP Returns to Profitability and Raises Dividend

LONDON — BP returned to profitability with a better-than-expected third-quarter profit, prompting the oil giant to raise its dividend.

French supermarket uses Paris canals to reduce fuel costs

Franprix has become the first French supermarket to reinstate waterway deliveries to the heart of Paris, with the aim of bypassing traffic-choked roads and saving costs.

EDF to raise gas and electricity prices by 10.8%

EDF Energy customers will see a 10.8% rise in gas and electricity prices from 7 December, the company has announced.

Solar islands floated as clean energy source for crowded continents

Global consultancy and certification firm DNV has unveiled designs for floating solar arrays that could rival offshore wind farms.

Oil Set for Second Weekly Drop on Demand Outlook, Supply

Oil in New York rebounded after better-than-forecast U.S. economic figures fueled speculation that energy demand in the world’s largest crude user will increase. Futures rose as much as 0.3 percent after earlier dropping as much as 1.2 percent.

Good News Britain: North Sea tax break helps UK energy security

Industry body Oil & Gas UK on Talisman Energy's decision to invest £1.6bn in extending the life of fields in the North Sea.Oil & Gas UK is delighted to hear that the Government has approved Talisman's £1.6bn MonArb Area Redevelopment Project.

Russia's energy giant Gazprom launches production at world's largest natural gas fields in Arctic

Russia's energy giant Gazprom launched production on Tuesday at one of the world's largest natural gas fields originally discovered some 40 years ago in the frozen and hitherto inaccessible Arctic.

Renewables industry says projects displacing CO2 emissions

The renewable energy industry has published figures which, it claims, show Scotland is producing enough low carbon electricity to offset emissions from Longannet power station in Fife.

Rosneft to Buy TNK-BP in $55 Billion Deal

The Russian state-owned energy company Rosneft reached agreements on Monday worth a combined $55 billion that will give it control of TNK-BP, a joint venture parted owned by the British energy giant BP.

Energy policy negotiated as coalition leaders meet to discuss green agenda

Senior coalition figures meet on Wednesday for crisis talks about the UK's stalling energy investment program amid growing political concern about the rising cost of customer bills and threats by power station companies to pull out of the UK because of delays.

Colombia Bets on Shale as Peace Talks Open Oil Frontiers

Colombia, the fastest-growing major oil producer in Latin America in the past five years, is looking to join the global shale boom as it expands exploration in areas once dominated by guerrilla groups.

U.N. nuclear chief rejects Iran "saboteurs" accusation

LONDON (Reuters) - The U.N. nuclear chief said on Wednesday that Iran's allegation his agency may have been infiltrated by saboteurs was baseless and voiced concern about "intensive activities" at the Parchin military installation that his inspectors want to examine.

Oil giant may need EGM over TNK-BP sale

BP could be forced to hold its first extraordinary general meeting in more than a decade to gain approval for selling out of TNK-BP.

Germans face hefty bill to end nuclear power

BERLIN (AP) — There were cheers around Germany when Chancellor Angela Merkel announced last year, in the wake of the Fukushima disaster in Japan, a swift end to nuclear power in favor of renewable energy sources like wind and solar.

Business bosses attack George Osborne's policy of 'dash for gas'

George Osborne was increasingly isolated over energy policy last night, after the head of the CBI said that too much reliance on gas as a future source of energy would leave consumers and businesses dangerously exposed to further sharp price rises on global markets.

Nigerian villagers sue Shell in landmark pollution case

THE HAGUE: Four Nigerian villagers took Royal Dutch Shell to court on Thursday in a landmark pollution case that campaigners said could open the door to more compensation claims against international companies.

Delay in signing Hull Green Port wind turbine factory deal

The signing of a deal to build a £210m wind turbine factory in a Hull dock has been delayed until 2013.

Mitt Romney champions coal – but Americans turned on by natural gas

Mitt Romney hit the campaign trail in Ohio and Virginia this week accusing Barack Obama of waging war on coal.

Gas power 'is undermining energy sector'

Businesses have urged the Government to set a target of slashing carbon emissions from the power sector by 2030 to stimulate investment that will drive growth.

Government warned that investors could pull plug on green energy

LONDON/PARIS (Reuters) - A group of seven multinational companies has told the British government that they could halt their investment in the UK green energy sector if state support for renewable energy wanes.

Iran denies offering new '9-step plan' on nuclear programme impasse

DUBAI: Iran denied on Saturday a US media report that it had offered a " nine-step plan" aimed at solving its stand-off with the West over its disputed nuclear programme.

Power shortage risks by 2015, Ofgem warns

Britain risks running out of energy generating capacity in the winter of 2015-16, according to the energy regulator Ofgem.

Glut of Solar Panels Poses a New Threat to China

BEIJING — China in recent years established global dominance in renewable energy, its solar panel and wind turbine factories forcing many foreign rivals out of business and its policy makers hailed by environmentalists around the world as visionaries.

UK is haring off down the wrong path on new nuclear power plants

Sir Bernard is an avid supporter of new nuclear build, so the answer he invites – no – is all the more significant.

Oil up slightly after positive US economic reports

BANGKOK (AP) — Oil prices rose slightly Thursday after positive U.S. economic reports offset some of the pessimism about global growth prospects.

Overcoming challenges of Arctic oil drilling

Energy giants are investigating the potential riches in the Arctic region, but one has already broken ranks.

Analysis: Threatened duties push China solar firms offshore

(Reuters) - Chinese solar companies are being forced to speed up plans to move a big chunk of their manufacturing offshore as Europe looks increasingly likely to join the United States in implementing duties on imports of Chinese-made solar equipment.

Barack Obama blocks Chinese bid for US windfarm on national security grounds

President Barack Obama has blocked a privately-owned Chinese company from building wind turbines close to a Navy military site in Oregon due to national security concerns.

Shell rejects Total warning over Arctic oil search

Shell has rejected a plea from its French rival Total that the energy industry should abandon its search for oil in the Arctic on the grounds that a spill would ruin the reputation of any company involved.

Nigeria's Jonathan Says Oil Industry Needs Overhaul

Oil companies' objections to Nigeria's proposed overhaul of its petroleum sector are expected, but the reforms are necessary, President Goodluck Jonathan said in an interview Thursday.

Oil Rises on China Stimulus Speculation and Spain Budget

Oil advanced from an eight-week low on speculation China’s government will bolster stimulus efforts and as Spain’s cabinet met to approve a 2013 austerity budget.

US lawmakers seek to delay nuclear relicensing requests

HOUSTON: Applications to relicense aging US nuclear reactors would be delayed until the power plants are closer to retirement age and safety conditions are better known, under legislation introduced on Wednesday by two US congressmen.

Chevron says Richmond repair time unknown

RICHMOND, California (Reuters) - Chevron Corp needs a few more weeks to assess damage at its plant in Richmond, California, and does not yet know how long it will need to repair its crude unit after an early August fire damaged the state's second-biggest refinery, its general manager said on Monday.

Crude Declines for Fifth Time in Six Days

Oil dropped for the fifth time in six days as discord over the handling of Europe’s debt crisis and a decline in German business sentiment renewed concern that the European crisis will reduce oil demand.

'Switch and save' option for energy customers

Tens of thousands of struggling households who owe money to their energy supplier will be freed up to switch to cheaper deals as part of a raft of measures announced on Sunday.

BP plans to buy major stake in Russia's Rosneft

BP plans to acquire a major shareholding in Rosneft if it can sell its stake in troubled venture TNK-BP, but played down hopes it would secure a wider partnership with the Russian state-controlled oil giant.

Brazil oil agency ANP appeals Transocean, Chevron oil spill ban

RIO DE JANEIRO (Reuters) - Brazil's petroleum regulator ANP appealed an injunction on Monday banning Transocean Ltd and Chevron Corp from operating in Brazil on the grounds the ban would harm oil exploration in the country, ANP chief Magda Chambriard said.

Shell postpones plans to start Arctic drilling until next year

Shell has abandoned controversial plans to start drilling for oil in the Arctic this year after a final test of its environmental protection equipment failed to meet the standards required to gain a full drilling permit.

Oil price near four-month high after Fed move

Oil prices rose for the eighth session in a row, with Brent crude trading near a four-month high, boosted by the Federal Reserve's move last week to stimulate the US economy.

Saudi Arabia Not at Risk of Becoming Oil Importer, Analyst Says

Saudi Arabia, the world’s No. 1 crude exporter, can boost its output capacity and isn’t at risk of becoming a net importer of oil, an energy analyst who advises the government said, rebutting a report by Citigroup Inc.

Japan to phase out nuclear energy by 2040

Japan on Friday said it planned to phase out nuclear power over three decades in an apparent bow to public pressure after last year's Fukushima disaster, the worst atomic accident in a generation.

Rising gas prices crimp Americans' spending

WASHINGTON (AP) — Higher gas prices are crimping consumer spending and slowing the already-weak U.S. economy. And they could get worse in the coming months.

The Growing Might of Solar Power

From California to New Jersey, the summer sun was hot this year — and so was the solar industry.While the business of solar energy is still small enough and young enough to record firsts at the fearsome pace that a toddler does, the milestones are getting more substantial.

Japan energy deadlock deepens; government fails to announce policy mix

TOKYO (Reuters) - Deadlock in Japan between anti-nuclear activists and advocates of atomic power deepened on Monday as the government failed to produce an expected proposal to reduce the role of nuclear power in the country's energy portfolio after the Fukushima disaster.

Oil Falls on Signs Global Economy Is Weakening

Oil declined for the first time in four days as Greece struggled to qualify for aid payments and economic data indicated that global demand may weaken.

Climate change expert calls for nuclear power 'binge' to avert global warming

A leading British academic has called for accelerated research into futuristic geo-engineering and a worldwide nuclear power station "binge" to avoid runaway global warming.

George Osborne's North Sea oil tax breaks show Britain is open for business

In times of economic hardship, the UK oil and gas industry has been – and can continue to be – a key engine for growth.

Japan utility: No money to develop renewables

TOKYO (AP) — The head of the Japanese utility that owns the tsunami-hit Fukushima nuclear power plant says last year's meltdowns sapped away money it might have used to switch to alternative energy, making it all the more important for the company to stick with nuclear.

Saudis 'may run out of oil to export by 2030’

A report by Citigroup has warned that Saudi Arabia could run out of oil to export by 2030, raising fears that oil prices may rise significantly in coming years.

Deepwater Horizon: BP accused of gross negligence

The US Justice Department has accused BP of "gross negligence and wilful misconduct" over the Deepwater Horizon disaster, claims which BP denies.

High global oil prices cause for concern: IEA's Maria van der Hoeven

NEW DELHI: High global oil prices are a cause of concern for the International Energy Agency, the head of the body which represents 28 importing countries said, although crude markets were better supplied than those for refined fuels.

Russian oil production hits post-Soviet record

Russian leaders have hailed their powerful energy industry as the country posted a post-Soviet record high rate of oil production that should boost coffers in uncertain global economic times.

Iraq oil exports highest in more than 30 years

BAGHDAD: Iraq's oil exports reached their highest level in more than three decades last month as the country's output has continued to increase, oil ministy officials said on Saturday.

Total insists Shtokman Russian Arctic gas project not delayed 'indefinitely'

Total sparked confusion over plans for Russia’s giant Shtokman Arctic gas field, denying the project, in which the French company has a stake, had been delayed indefinitely.

Shell gets OK for Arctic drilling prep

NEW YORK (CNNMoney) -- The Obama administration has granted Royal Dutch Shell permission to begin drilling preparations off the coast of Alaska, bringing the region a step closer to offshore oil production.

Oil Set for First Weekly Drop Since July as Gulf Output R

Oil is heading for the first weekly decline since July in New York as producers work to restore Gulf of Mexico output and refiners prepare to resume operations after Hurricane Isaac passed.

Alternative Energy And Global Energy Security In Aftermath Of Rio+20

By Alexander Mirtchev, Contributor

 

“Life always gets harder toward the summit–the cold increases, the responsibility increases.” These words by Friedrich Nietzsche aptly characterize the atmosphere among global leaders at June’s international summits.

Cairn steps up hunt for oil and gas in Morocco

British oil firm Cairn Energy has stepped up its hunt for oil and gas off the coast of Morocco, building on its strategy to balance its exploration portfolio beyond high-risk Greenland.

Isaac threatens Gulf oil production

NEW YORK (CNNMoney) -- Tropical Storm Isaac is curtailing oil production along the Gulf of Mexico and threatening refineries, which could send already rising gasoline prices up another 10 cents in the coming week.

Explosion kills 24 at Venezuela refinery

An explosion tore through Venezuela's biggest oil refinery on Saturday, killing at least 24 people, wounding more than 80 others and halting operations at the huge facility.

Spain to pass key energy reform in two phases

MADRID: Spain will pass a much awaited reform of the energy sector in two phases, first a new tax regime for the industry and later an overhaul of the energy market, two sources with knowledge of the matter said on Friday.

Australia's mining boom is over, says resources minister Martin Ferguson

Australia's resources minister, Martin Ferguson, has declared the nation's mining boom "over" after BHP Billiton, the world's biggest miner, delayed plans to build the largest open-pit mine in the world as the global economy slows.

Oil rises on stimulus hopes, supply disruption worries

NEW YORK (Reuters) - Oil prices rose a third straight day on Thursday on hints of a third round of monetary stimulus from the U.S. Federal Reserve and persistent worries that tensions in the Middle East could disrupt crude supplies.

Vestas to cut 1,400 more jobs as it reports quarterly pre-tax loss

Vestas is to shed another 1,400 jobs, bringing total redundancies for the year to more than 3,700, after the world's biggest wind turbine maker slumped to a quarterly pre-tax loss.

Keeping the lights on: Could the UK be plunged into darkness?

Will the lights go out? The very question gives politicians sleepless nights, alarms business and bewilders the householder. Could Britain, one of the wealthiest nations in the world, really be plunged into darkness?

Chevron appeals Brazil ban, seeks oil field restart

RIO DE JANEIRO (Reuters) - Chevron , the No. 2 U.S. oil company, has appealed against an injunction banning it and its drilling contractor Transocean Ltd from operating in Brazil while civil and criminal charges over an oil spill last November are judged.

Protecting porpoises' hearing adds millions to wind farm projects

Porpoises are adding millions of euros to costs for wind-turbine developers in waters off Germany, delaying the nation’s shift from nuclear energy.

Oil Reaches $95 a Barrel on Housing Permits, Middle East Tension

Oil climbed above $95 a barrel for the first time in three months as U.S. building permits reached a four-year high and on concern that Israel will strike Iran and disrupt supplies from the Middle East.

China's coal expansion may spark water crisis, warns Greenpeace

China's plan to rapidly expand large coal mines and power plants in its arid northern and western provinces threatens to drain precious water supply and could trigger a severe water crisis, a report by environmental activists Greenpeace said on Tuesday.

Brent steady above $113 ahead of key Europe, U.S. data

SINGAPORE (Reuters) - Brent crude held steady above $113 per barrel on Tuesday as investors awaited economic growth data out of Europe to gauge the region's energy demand outlook, while escalating tensions in the Middle East supported prices.

Questor shares tip: Genel is a speculative buy

Genel, the oil investment vehicle headed by Tony Hayward, the former chief executive of BP, has been unloved by the stock market.

Iraq oil production surpasses Iran

NEW YORK (CNNMoney) -- Oil production in Iraq surpassed that of its regional rival Iran last month, highlighting the impact of continued investment in Iraq and Western sanctions on Iran.

China oil, iron ore imports slow in July with economy

SHANGHAI (Reuters) - China's imports of crude oil sank in July to a nine-month low and those of iron ore fell for the fourth time in five months as refineries and steel mills cut output due to slackening demand as growth in the world's second-largest economy sputtered.

BP, Total to join TAP pipeline project

PARIS: Energy giants BP and Total and Azerbaijan's state company Socar have signed on to help fund a projected gas pipeline linking Greece with Italy, the Trans Adriatic Pipeline (TAP) consortium said Thursday.

Oil futures mixed after surge on U.S. stock draw

NEW YORK (Reuters) - Oil futures turned mixed in late trading on Wednesday after leaping to three-month highs on U.S. government data showing a sharp drawdown in domestic crude stockpiles last week and amid worries about lower North Sea oil production.

Nuclear energy wild card in Japan poll which Democrats likely to lose

(Reuters) - Growing Japanese opposition to nuclear energy after the Fukushima disaster will be a wild card in a general election many expect within months, but politicians on both sides of the aisle agree on one thing: the Democratic Party is likely to fall from power just three years after its historic landslide win.

Shale gas still an object lesson for miners

Supply and demand is at the heart of basic economics and that applies equally to commodities markets. Nowhere is that currently more apparent than in the gas market.

China National Offshore Oil Corp-Nexen deal to help South China sea thrust

WASHINGTON: The $15 billion bid by China National Offshore Oil Corp (CNOOC) to buy Canada's Nexen, Inc will help the Chinese state giant gain the expertise to drill in deep, disputed waters of the South China Sea without relying on risk-averse foreign firms.

India needs strict controls to avoid blackouts: power firm

MUMBAI (Reuters) - India needs a more cohesive energy policy and stringent grid management to avoid a recurrence of the power outages that hit hundreds of millions of people this week, the chief executive of Reliance Infrastructure Ltd said in an interview.

Israel Finds $240 Billion Gas Hoard Stranded by Politics: Energy

Israel, reliant on imported energy since the state’s foundation in 1948, now has more natural gas than it can handle.

Mitt Romney confirms he would end US wind power subsidies

Mitt Romney looks set to declare war on America's wind energy industry, further emphasising the dividing line between the presumptive Republican presidential candidate and President Barack Obama on energy issues.

Oil pares gains after Fed statement, EIA draw supports

NEW YORK (Reuters) - Oil futures ended off highs in choppy trading on Wednesday after the U.S. Federal Reserve said the economy had lost some momentum but offered no new stimulus, with support still coming from data showing a bigger-than-expected drawdown in U.S. crude stockpiles last week.

Premier Oil contract creates 350 jobs in Scotland

A total of 350 new jobs are to be created after a Scottish business won two new contracts with Premier Oil worth £140m.A total of 350 new jobs are to be created after a Scottish business won two new contracts worth £140m.

UBS downgrades Exxon; 'disappointing' production

NEW YORK (AP) — Exxon Mobil Corp. was downgraded Friday by UBS because of "disappointing" production trends, increasing reliance on asset sales to hit earnings numbers, and other factors.

Japan anti-nuclear groups protest at parliament

TOKYO (Reuters) - Tens of thousands of people protested against nuclear power outside Japan's parliament on Sunday, the same day a proponent of using renewable energy to replace nuclear following the Fukushima disaster was defeated in a local election.

Oil up fourth day as stimulus hopes support

NEW YORK (Reuters) - Oil prices rose a fourth day on Friday on hopes for more stimulus from the U.S. Federal Reserve after data showed U.S. economic growth slowed in the second quarter as expected.

Centrica defends 23pc leap in British Gas energy profits

Centrica defended a 23pc surge in profits at its British Gas household division, insisting the jump was due to the comparison with a “weak” 2011.

Japan PM atomic energy stance on trial in local poll

TOKYO (Reuters) - Japanese Prime Minister Yoshihiko Noda's post-Fukushima nuclear energy policy will be on trial in a local governor's election on Sunday, where an upset victory by a renewable energy candidate would deal Noda's wobbly administration a new blow.

Iraq blacklists Chevron for Kurdish oil deals

BAGHDAD (Reuters) - Iraq hit out at Chevron Corp over its just-signed oil contract with Kurdistan, barring it from any oil agreements with the central government in a move meant to deter other companies from dealing directly with the semi-autonomous northern region.

BP and Transocean 'dropped the ball' on safety ahead of Gulf disaster

BP and Transocean "dropped the ball" on safety ahead of the Gulf of Mexico disaster, failing to focus on the risks of major accidents on the Deepwater Horizon rig, US regulators said.

Treasury messing with UK clean energy policy, say MPs

MPs have accused the Treasury of making the government's clean energy revolution unworkable and creating the risk of higher household bills.

China to investigate U.S., South Korean solar materials imports

BEIJING/HONG KONG (Reuters) - China will open investigations into imported U.S. and South Korean solar-grade polysilicon, the country's trade ministry said on Friday, in the latest instance of growing tensions between major solar manufacturers.

U.S. missing out on Arctic land grab

NEW YORK (CNNMoney) -- There's an international race to divvy up the Arctic Ocean's oil and mineral bounty, but the United States could lose out on a big chunk of it because it hasn't signed a United Nations treaty governing the area.

Energy subsidy row 'may deter UK investment’

Delays and political interference in the setting of subsidies for wind farms may deter investment in the UK, energy companies have warned.

Nuclear issue puts increasing pressure on Japan government

TOKYO (Reuters) - Japan's government came under fire on Tuesday over its handling of public hearings on nuclear energy policy, threatening to dent already sagging support for the ruling party ahead of an election many expect to be this year.

Oil prices could be rigged by traders warns G20 report

A report commissioned by the G20 group of the world's biggest economies has warned oil prices could be vulnerable to a Libor-style rigging scandal.

Falkland Islands: Premier Oil plan leads UK and Argentina to new dispute

Britain put itself on a collision course with Argentina over the disputed sovereignty of the Falkland Islands when it gave explicit support to a £600m plan to develop oil reserves in the south Atlantic on Wednesday.

Oil prices fall to below $85 a barrel in Europe

Oil fell below $85 a barrel Thursday on expectations of just a small rise in global demand for crude in 2013 and as signs of slowing global economic growth offset hopes that central banks will soon implement stimulus measures.

Russian Oil Drilling Off Cuba Is Delayed by Old Embargo

MOSCOW — A Russian oil company will delay drilling its first exploratory well off the northern coast of Cuba, about 180 miles from Florida, after apparently struggling to find a drilling rig that would not violate a United States embargo.

Trade deficit narrows on exports, cheaper oil

(Reuters) - The trade deficit narrowed slightly in May as lower oil prices and a rise in exports, including those bound for Europe and China, eased the pain of a slowdown in the broader economy.

Norway Facing Shutdown of Oil and Gas Production

Norway, the largest producer of oil and gas in Western Europe, was on the brink of a large-scale industry shutdown on Monday that could cause an upturn in world petroleum prices, which lately have been softening because of slack economic demand.

Centrica criticises policy as seabirds block Docking Shoal wind farm

Centrica has criticised conflicting Government policies after ministers blocked plans for a wind farm to power 400,000 homes because of concerns about seabirds.

IMF urges Ukraine to hike gas prices for consumers

The International Monetary Fund again urged Ukraine Friday to raise gas prices for consumers, a sticking point in the resumption of an IMF bailout.

Renewable UK threatens legal action as Tory MPs call for wind policy U-turn

The government is under intensifying pressure over its wind energy policy with a lobby group threatening legal action and a key investor warning that a planned £200m facility could be at risk.

Oil down near $86 after Europe, China rate cuts

SINGAPORE (AP) — Oil fell to near $86 a barrel Friday in Asia amid doubts that Europe and China's interest rate cuts will be enough to halt an economic slowdown.

Japan nuclear disaster "clearly man-made," report says

TOKYO - Last year's crisis at the Fukushima nuclear plant was "a man-made disaster," and not only due to the tsunami, a Japanese parliamentary panel said in a report.

Oil and gas are the new African queens

When Royal Dutch Shell proposed a 195p-a-share, £992m offer for Mozambique-focused oil and gas explorer Cove Energy in February, many in the City regarded it as a “full” offer.

Offshore wind power cost 'could fall one-third by 2020'

The costs of offshore wind power generation could be brought down by one-third by the end of the decade, making this form of renewable energy commercially viable in the UK, according to new reports by the wind industry and government.

Oil slips on more signs of slowing economy

NEW YORK (Reuters) - Oil prices edged lower on Monday as weak manufacturing data from the United States, Europe and China reinforced concerns about slowing economic growth and its threat to demand for petroleum.

Government must resist new 'dash for gas', advisers say

The government needs to multiply investment in clean energy four-fold to avoid breaking laws on renewables and climate change, official advisers say.

BP considers Gazprom gas pipeline to UK

BP is considering building a pipeline to import Russian gas to the UK in tandem with state-controlled energy giant Gazprom.

Natural gas prices drop 3 percent

NEW YORK (AP) — The price of natural gas dropped more than 3 percent Thursday following reports of an unexpectedly large increase in U.S. supplies.

PM under pressure from own cabinet to boost green energy investment

Two Conservative cabinet members have asked the prime minister to do more to boost investment in low carbon energy and other green infrastructure.

A catastrophe if global warming falls off the international agenda

A month's rain fell in a day last week in parts of Britain. There were 140 flood warnings in the north of England, rain forcing the evacuation of Croston and Darwen in Lancashire; elsewhere, it washed out the Isle of Wight festival.

Oil slips below $79 on Europe's economic woes

The price of oil fell below $79 a barrel Monday due to concerns over Europe's economic and financial woes. The drop was limited somewhat by a supply disruption from a storm that shut down about a quarter of crude output in the Gulf of Mexico.

Gas prices could hit $3 by autumn

The darkening clouds of the slowing economy could provide a bright spot for consumers: gasoline at $3 a gallon — or less — by autumn.

U.S. cuts greenhouse gases despite do-nothing Congress

NEW YORK (CNNMoney) -- A curious thing is happening to the air in the United States. It's getting cleaner.

Risk of Greek blackouts increases as traders cut or halt power supplies

Power traders in at least four countries have reduced or halted electricity exports to Greece due to non-payments, helping to force market prices sharply higher in a potential blow to struggling industries and raising the risk of blackouts during the tourist season.

Renewables no fix for U.S. military fuel woes: study

WASHINGTON (Reuters) - Renewable fuels for U.S. military ships and jets are likely to remain "far more expensive" than petroleum products absent a technological breakthrough, a study for the U.S. Air Force found on Tuesday, questioning a Pentagon push for alternative energy.

RWE pulls plug on international nuclear power business

BERLIN: German power giant RWE, already hard hit by the government's decision to phase out nuclear power, said on Monday it is similarly abandoning its ambitions in the sector outside Germany.

Oil prices slide as Greece optimism fades

(Reuters) - Oil prices fell towards $96 a barrel on Monday, erasing early gains after a pro-bailout vote in Greece failed to ease concerns about the euro zone while analysts said oversupplied crude markets would cope with any loss of Iranian oil.

Oil sanctions on Iran loom despite talks

NEW YORK (CNNMoney) -- The latest round of talks over Iran's nuclear program are set to begin Monday in Moscow, but analysts are not expecting a breakthrough that would avoid sanctions in coming weeks.

Japan's LNG, oil demand to remain strong after reactor restarts

TOKYO (Reuters) - Japan's decision to restart two nuclear reactors idled for safety checks after the Fukushima catastrophe won't cut the country's spiraling fossil-fuel import bill unless more atomic units are brought back on line, traders and analysts said.

Climate change rate could be faster than thought, study suggests

China's carbon emissions could be nearly 20% higher than previously thought, a new analysis of official Chinese data showed on Sunday, suggesting the pace of global climate change could be even faster than currently predicted.

E.On seeks nuclear damages from German government

Energy group E.On is to seek damages of about 8bn euros ($10bn; £6.4bn) from the enforced shutdown of German nuclear power stations, it has said.

IEA calls for $36 trillion more in clean energy investments

NEW YORK (CNNMoney) -- The International Energy Agency said the world's clean energy investments are sorely lacking and this week called for an additional $36 trillion of funding by 2050.

Global investment in renewable energy at record high

Global investment in renewable energy surged to a new high last year, despite the widespread recession.

Gazprom leads the field in bids for EDF power station

Foreign bidders are heading the queue to buy a gas-fired power station being sold by EDF, the state-owned French utility.

Tweaking U.S. tax code could spur green energy: senator

WASHINGTON (Reuters) - A freshman Democratic senator thinks he may have found a way to encourage investment in wind, solar and biofuel projects without sapping too many taxpayer dollars or injecting new venom into a bitter partisan battle over energy incentives.

UK energy tie-up with Norway 'could create 1,600 jobs’

Britain could see more than 1,600 jobs created under a new energy partnership with Norway to be announced by David Cameron, according to Downing Street sources.

Russia probes BP venture on behalf of Rosneft

Russia's anti-monopoly service said Wednesday it was probing the British energy group BP's crisis-torn local joint venture TNK-BP on request from the state oil giant Rosneft.

Oil near $100 still a threat to global economy: IEA

KUALA LUMPUR: Oil prices near $100 a barrel are still a threat to a slowing global economy that is likely to consume less fuel than the International Energy Agency (IEA) had forecast, the IEA's executive director said on Tuesday.

Argentina to 'immediately launch' criminal proceedings against UK oil firms operating off Falklands Islands

The UK Government said it would support the country's oil companies operating around the Falkland Islands after Argentina announced it is taking steps to sue five British firms.

BP announces plans to sell stake in TNK-BP

BP has announced that it is going to try to sell its stake in the TNK-BP Russian oil joint venture. In a short statement, the oil company said it had received "unsolicited indications of interest" in acquiring its shares.

Oil drops below $100 on global growth fears

Oil fell to a 16-month low below $100 a barrel on Friday as weak US jobs data, poor manufacturing figures from China and a spiralling euro zone debt crisis deepened worries over the prospects for global economic growth.

Japan's crude imports from Iran fall in April, sanctions bite

TOKYO: Japan's crude oil imports from Iran fell 26.1 per cent in April from a year earlier, as the world's third-largest oil consumer stares at a complete halt in imports from the OPEC member from July due to tightening Western sanctions.

Distrust could hamper Green Deal

Public mistrust of the "big six" energy firms may undermine the UK government's planned Green Deal, according to the International Energy Agency.

Oil falls 3 percent on worries over euro zone, China

NEW YORK (Reuters) - Oil fell more than 3 percent on Wednesday, with worry mounting about the petroleum demand outlook as the euro zone debt crisis pushed the single currency down near a two-year low against the dollar and after China signaled it was not planning a large economic stimulus.

'Golden age of gas' threatens renewable energy, IEA warns

A "golden age of gas" spurred by a tripling of shale gas from fracking and other sources of unconventional gas by 2035 will stop renewable energy in its tracks if governments don't take action, the International Energy Agency has warned.

Senate panel reins in Pentagon on clean energy

WASHINGTON (AP) — The Pentagon's investment in green energy requires too much green paper for some in Congress.

Three-quarters of Japanese firms oppose nuclear power

TOKYO (Reuters) - Nearly three-quarters of Japanese companies support abandoning nuclear power after last year's Fukushima disaster, although a majority set the condition that alternative energy resources must be secured, a Reuters poll showed on Friday.

Analysis: Shale energy boom dangles prospect of leap in economic growth

WASHINGTON (Reuters) - America's reliance on fuel imports has sucked vigor from its economy for decades. Now an oil and natural gas boom holds out the prospect for a new era of stronger U.S. economic growth.

To avoid conflict, OPEC may keep oil target unchanged

LONDON: Saudi Arabia and its Gulf Arab allies are likely to try to avoid confrontation with Iran and recommend leaving OPEC's oil output target unchanged when producer countries gather next month.

Oil prices slide to 7-month low

NEW YORK (CNNMoney) -- Oil prices fell below $90 a barrel for the first time in seven months Wednesday as tumult in the eurozone, excess supply and positive news out of Iran weighed on prices.

Oil prices up on expectations for improving demand

Oil prices rose as encouraging signs about the economy in the United States and China tempered concerns about Greece's debt crisis.

Analysis: Germany's Merkel losing green battle to cheap coal

(Reuters) - To reach its strict climate targets and fulfill Chancellor Angela Merkel's nuclear exit plans, Germany needs to avoid coal and build a stack of gas power plants to secure clean energy supplies beyond 2020.

Repsol: Exploratory oil well off Cuba comes up dry

HAVANA (AP) — An exploratory oil well off the northern coast of Cuba has proved a failure and will be capped and abandoned, Spanish company Repsol said Friday, a disappointment for a cash-strapped nation hoping for an economic lifeline.

G-8 Leaders to Discuss Oil Market as Iran Embargo Nears

The impact on oil prices from sanctions on Iran will be on the agenda when President Barack Obama meets with other leaders of the Group of Eight nations, National Security Adviser Tom Donilon said.

U.S. Slaps High Tariffs on Chinese Solar Panels

A senior Chinese banker, who insisted on anonymity because of the political sensitivity of the solar panel issue, said that Chinese banks were not eager to lend heavily for another round of solar panel factory investments on the large scale needed to supply the American market.

India to cut Iran oil imports by 11% amid US pressure

India has said it will cut imports of Iranian oil by 11% in the current financial year as it continues to face pressure from the US.

Japan's firms fear summer meltdown in nuclear-free nation

TOKYO: Japan's hard-hit manufacturers are facing a long summer with businesses making everything from ice creams to crayons fretting production may be hampered as the now nuclear-free nation faces energy cuts.

Oil down to near $94 on China, Europe concerns

Oil prices dropped to near $94 a barrel Monday due to concerns that China's economy, the world's second-largest, is slowing faster than expected as well as speculation that Greece could abandon the euro currency bloc.

Centrica shareholders revolt against executive pay

Centrica has become the latest company to feel the force of the “shareholder spring” as more than 16pc of its investors failed to back its executive pay - on the same day it warned household bills were set to rise even further.

Oil prices fall on weak China data, Europe woes

Oil prices dropped Friday as traders worried about disappointing Chinese economic data and debt-wracked Greece, where an election was almost certain after austerity opponents blocked a new government.

Turning natural gas into diesel fuel

NEW YORK (CNNMoney) -- Near-record low natural gas prices have hurt the industry, but a technology that can turn cheap gas into more profitable diesel could keep demand high and mitigate the impact of falling costs.

Japan shuts down last nuclear reactor

Tokyo (CNN) -- As Japan began its workweek Monday morning, the trains ran exactly on time, the elevators in thousands of Tokyo high-rises efficiently moved between floors, and the lights turned on across cities with nary a glitch.

BP may get second chance in Arctic through Rosneft tie-up with TNK-BP

BP could be handed a second shot at exploring for oil offshore in the Arctic with Russia's Rosneft, in a possible tie-up through its joint venture TNK-BP.

Indian trade with energy starved Nepal under trouble

SILIGURI/DHULABARI( Nepal ): Severe power and oil shortage in Nepal is causing severe downfall in its own economic activities as well as bilateral trade with India, its largest trade partner.

Thousands march as Japan shuts off nuclear power

TOKYO (AP) — Thousands of Japanese marched to celebrate the switching off of the last of their nation's 50 nuclear reactors Saturday, waving banners shaped as giant fish that have become a potent anti-nuclear symbol.

Alaska gives TransCanada OK to shift attention

JUNEAU, Alaska — The state of Alaska on Wednesday gave TransCanada Corp. permission to shift its attention to a natural gas pipeline project that would be capable of overseas exports.

Japan seeks new energy supplies

The closure of Japan's nuclear reactors has prompted a hunt for alternative sources of energy in the resource-poor country.

BP profits slip as 'Gulf spill disposals' hit production

BP reported a bigger-than-expected drop in profits, despite higher oil prices, as production fell after it was forced to sell fields to pay for the Gulf of Mexico oil spill.

Oil under $119 as data worries

LONDON (Reuters) - Oil eased on Tuesday to trade under $119 a barrel due to worries that a sluggish economic recovery in Western economies together with below-expectations Chinese manufacturing data, could depress demand for fuel.

U.S. 'dirty oil' imports set to triple

NEW YORK (CNNMoney) -- U.S. imports of what environmentalists are calling "dirty oil" are set to triple over the next decade, raising concerns over the environmental impact of extracting it and whether pipelines can safely transport this Canadian oil.

China makes new proposal on Russia gas deal

MOSCOW: Chinese energy officials signalled on Saturday they were keen to pursue a major gas deal with Russia despite a proliferation of alternative supplies, and said they had made a new proposal to overcome a price deadlock.

UK's Cameron sees North Sea as green energy hub

LONDON (Reuters) - Britain's North Sea has the potential to lead the world in offshore wind and carbon capture and storage technology, British Prime Minister David Cameron said as over 20 companies signed a deal to turn the region into a major renewable energy hub.

Shell profits rise on strong oil price

Oil giant Royal Dutch Shell has reported a rise in profits thanks in part to strong demand for energy which is keeping oil prices high.

Iran Considers Halting Nuclear Expansion to Avert EU Oil Ban

Iran is considering a Russian proposal to halt the expansion of its nuclear program in order to avert new sanctions, the country’s envoy in Moscow said.

Oil hovers near $103 amid EU economy worries

LONDON (AP) — Oil prices hovered above $103 a barrel Tuesday as financial markets stabilized after sharp losses the previous day, when investors worried Europe's debt crisis will undermine economic growth and energy consumption.

British Gas puts 550 jobs at risk

British Gas intends to close its Southampton call centre which could result in 550 job losses, in a "blow" to the local area.

Survey: Higher energy prices slowing rural growth

OMAHA, Neb. (AP) — Economic growth appears to be slowing in rural areas of 10 Midwest and Plains states because of higher fuel and energy prices, according to a new monthly survey released Thursday.

Brent oil rises on risk outlook, Spain auction

LONDON (Reuters) - Brent crude oil gained on Thursday, bouncing from a two-month low set the previous session, as a Spanish bond auction attracted strong investor demand, alleviating some concerns about the health of the euro zone economy.

Japan Is Asked to Insure Iran Oil Shipments as EU Sanctions Bite

Japan’s government may insure tankers carrying Iranian oil, joining China and India in responding to European sanctions blocking private providers.

US solar firm cuts 30% of global workforce

US solar energy firm First Solar said Tuesday it would cut 30 percent of its global workforce due to Europe's financial woes, scaling back operations in Germany and Malaysia.

Barack Obama cracks down on oil traders

Barack Obama pledged to put more "cops on the beat" to oversee the oil market, as he went on the offensive with a range of curbs to stop traders from driving the oil price higher.

US tops global clean energy investment rankings

The US has regained top spot from China as the biggest investor in clean energy in 2011, according to global rankings.

Falkland Oil and Gas shrugs off Argentine threats

The company on Friday reported an increased annual loss for 2011 of $6.64m, compared with $3.74m in 2010, but said it had more than enough cash to fund its exploratory drilling programme off the Falkland Islands this year.

Feds charge 3 in wind farm scam

CHEYENNE, Wyo. (AP) — The pitch on behalf of Mountain State Power sounded enticing: For $25,000 and with minimal risk, you could cash in on the green energy boom in Wyoming and South Dakota, taking advantage of a wind farm project partly funded by the federal government.

What is OPEC's oil output? Depends who you ask

LONDON: OPEC's crude oil production numbers are not easy to come by. Ask OPEC itself, and you will now get two answers.

Rising fuel costs cloud US economic outlook: Fed

Higher gasoline prices are muddying what is an otherwise improving outlook for the US economy, the Federal Reserve said in a keenly watched report, published Wednesday.

On Our Radar: Gas, Gas and More Gas

With a mild winter in much of the country having tamped down gas demand and with production of natural gas thriving due to the success of hydraulic fracturing technology, a.k.a. “fracking,” the country is running out of storage space and as a result some producers are slowing down, the Associated Press reports.

Iran can make nuclear weapons - but won't, says top politician

Iran has the technological capability to produce nuclear weapons but will never do so, a prominent politician in the Islamic republic has said.

Putin’s Port Project to Divert Russia Urals Oil to Baltic

A Baltic Sea oil terminal opened in March by President-Elect Vladimir Putin to boost Russia’s direct access to international markets may weaken the country’s crude price in northern Europe compared with the south.

Global oil production trouble - it's not just Iran

NEW YORK (CNNMoney) -- All the attention may be on a loss of oil from Iran these days, but production outages in a variety of spots worldwide is causing about one million barrels of oil a day to sit on the sidelines, helping push oil and gas prices to near record highs.

Nuclear industry dreams dashed by current economic reality

The news that nuclear giants RWE and E.ON are dropping plans to build any new UK reactors has sent a toxic cloud not only over Wales, but over the nuclear industry itself.

Obama Finds Oil in Markets Is Sufficient to Sideline Iran

WASHINGTON — After careful analysis of oil prices and months of negotiations, President Obama on Friday determined that there was sufficient oil in world markets to allow countries to significantly reduce their Iranian imports, clearing the way for Washington to impose severe new sanctions intended to slash Iran’s oil revenue and press Tehran to abandon its nuclear ambitions.

Oil above $103 amid signs China economy improving

SINGAPORE (AP) — Oil prices rose slightly above $103 a barrel Monday in Asia amid signs China's economic growth remains strong.

Iraq March Crude Exports Rise to Highest in Post-Hussein Era

Iraq’s crude oil exports and revenue rose in March to their highest levels in the nine years since the U.S.-led invasion that toppled former President Saddam Hussein, the head of the State Oil Marketing Organization said.

US, UK and France consider oil release to curb fuel prices

France is in talks with the United States and Britain on a possible release of strategic oil stocks to push fuel prices lower, French ministers said on Wednesday, four weeks before the country's presidential election.

Why the Keystone Pipeline Won't Ease Pain at the Pump

President Obama’s March 22 speech at the site of a TransCanada (TRP) pipe yard in Cushing, Okla., was an attempt to highlight his administration’s energy policies as both economically sensible and environmentally sustainable.

North Sea oil rig evacuated after gas leak

Shell is removing workers from two offshore installations close to a Total platform that was evacuated after a gas leak.

S&P warns over oil threat to Russian finances

Russia's finances would be severely damaged by a sustained fall in oil prices, according to the credit rating agency, Standard and Poor's.

Brazil oil regulator: Chevron leak not "negligence"

BRASILIA (Reuters) - An oil spill off the Brazilian coast in November was not the result of negligence by Chevron or drill-rig operator Transocean, Brazil's oil regulator said on Thursday, providing a boost to the companies and their executives as they face criminal charges.

Solar-Trade Fight Flares Up

U.S. trade officials slapped modest tariffs on imports of Chinese solar panels, giving a partial victory to solar-equipment manufacturers in the U.S. but stopping short of harsh duties that could spark a trade war.

IMF sees $160 oil risk despite Libyan boost

Libya's oil exports have rebounded much faster than expected and will exceed pre-Arab Spring levels as soon as April, plugging a crucial gap in world crude supply as the Iranian crisis comes to the boil.

The oil market is warming up

The global economy remains vulnerable to steep rise in crude oil prices, which would raise business costs and hammer consumers.

IMF chief Christine Lagarde fears oil spike poses serious threat to global recovery

The International Monetary Fund has warned that surging oil costs pose a serious risk to the global economy, threatening to smother expansion before a fresh cycle of growth is safely under way.

Brazil to charge Chevron executives over fresh oil leak

Brazilian prosecutors say they will bring criminal charges against 17 executives from the US oil company Chevron and drilling contractor Transocean after a new leak of crude.

Ireland's first oil well to yield 4,000 barrels per day

An Irish company says it has found the Republic's first viable oil well.

Oil rises above $107 amid improving US economy

SINGAPORE (AP) — Oil prices rose above $107 a barrel Tuesday in Asia as traders bet an improving U.S. economy will boost demand at a time when the ability to increase crude production is limited.

Sabine Pass natural gas plant, the next 'Keystone'

NEW YORK (CNNMoney) -- At the mouth of the Gulf of Mexico along the Texas-Louisiana border, Cheniere Energy could be just weeks away from breaking ground on the first natural gas exporting facility ever built in the lower 48 states.

Iran Power Declining in Oil Market as Explorers Spend $90 Billion: Energy

The Iran-driven run in oil prices to the highest since 2008 masks the Middle East producer’s diminishing importance to global oil supplies as record spending on drilling unearths reserves from Argentina to Angola.

U.S. mass transit use up with gas prices, economy

WASHINGTON (Reuters) - Americans took 10.4 billion trips on public transportation in 2011, the second-highest total since 1957, as gasoline prices rose and the economy improved, an industry group said on Monday.

Green Investment Bank: Welsh ministers disappointed as Scotland wins bid

Ministers in Wales and Westminster have expressed disappointment after Scotland won a bid to become the base for a new UK Green Investment Bank.

North Dakota becomes third-largest US oil producer

NEW YORK: North Dakota beat California to become the third-largest US oil-producing state in January after output in the Midwest state's Bakken and Three Forks prospects hit another record.

Japan reports record current account deficit

Japan has reported a record current account deficit because of rising energy imports, as the country's economic recovery remains fragile.

Oil Climbs From Two-Week Low on U.S. Gasoline Supplies, Economic Outlook

Oil climbed from the lowest price in more than two weeks on forecasts that gasoline supplies are falling and employment is increasing in the U.S., the world’s biggest consumer of crude.

Obama Has ‘Israel’s Back’ Preventing Iran Nuke

President Barack Obama said the U.S. won’t hesitate to use military force to stop Iran from developing a nuclear weapon, while asserting there is still time for diplomacy and sanctions to work.

Accord Reached Settling Lawsuit Over BP Oil Spill

BP and the lawyers for plaintiffs in the trial over the 2010 oil spill in the Gulf of Mexico have agreed to settle their case.Judge Carl J.

Oil price falls back from 43-month high

Oil prices have dipped from a 43-month high after Saudi Arabia denied reports that a key pipeline had exploded.

Chevron lobbies Russia for access to Arctic oil

US giant Chevron held Arctic oil exploration talks in Russia on Thursday after Prime Minister Vladimir Putin hinted that Moscow may let private firms access the fields to help boost development.

Oil hovers near $107 as US economy improves

SINGAPORE (AP) — Oil prices hovered near $107 a barrel Thursday in Asia as signs of an improving U.S. economy bolstered investor confidence.

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.

UN panel urges world at Rio to launch energy fixes

GENEVA (AP) — A high-profile U.N. panel headed by the presidents of Finland and South Africa hopes to spark an "ever-green" energy revolution later this year in Brazil using a general roadmap it presented Monday on how world leaders could wean the world off fossil fuels.

Oil industry sees China winning, West losing from Iran sanctions

DAVOS, SWITZERLAND: As the European Union prepares to ban Iranian oil and the United States turns the screw on payments, oil executives and policymakers say China and Russia stand to gain the most and Western oil firms and consumers may emerge the biggest losers.

Crude Oil Advances as Fed Commits to Low Rates, Durable Goods Orders Gain

Oil rose after the Federal Reserve announced it plans to keep U.S. interest rates near a record low through 2014 and a report showed durable goods orders in the world’s biggest crude-consuming country increased.

Kuwait Petroleum Selects Total as Partner in $9 Billion China Refinery

Kuwait chose Total (FP) SA as the third partner to build a $9 billion oil refinery in China, the head of Kuwait Petroleum Corp. said, as the Gulf state seeks a foothold in Asia’s biggest consumer of refined products.

ENERGY: Obama Pushes Forward on Clean Energy Without Congress

With Congress gridlocked and clean-energy policy stifled by solar-panel maker Solyndra's default on a federal loan, President Obama said on Tuesday evening in his State of the Union address that he is pressing forward with major initiatives in solar and wind energy that his administration can shepherd on its own.

Israeli Gas Find Tips Energy Balance

A popular quip in Israel's energy industry has it that when Moses left Egypt, he took a wrong turn on his way to the Promised Land: The Biblical figure should have veered right to Saudi Arabia rather than left to Israel, which has long been assumed to lack any petroleum reserves.

China says U.S. wind tower probe to hurt cooperation

(Reuters) - China's Ministry of Commerce said a U.S. investigation into wind towers from China could hurt bilateral clean energy cooperation, an area the White House has been eager to develop.

Bulgaria bans shale gas drilling with 'fracking' method

Bulgaria has become the second European country after France to ban exploratory drilling for shale gas using the extraction method called "fracking".

US rejects Keystone XL Canada oil sands pipeline

The US state department has formally recommended the rejection of a controversial crude oil pipeline.

Gas prices may get close to $5 in some spots

NEW YORK (CNNMoney) -- The new year has greeted Americans with the highest January gas prices ever, and some analysts say prices could get close to $5 a gallon in some areas during the warm-weather driving season.

Iran warns Gulf countries not to replace its oil: Mohammad Ali Khatibi

TEHRAN: Iran warned its Arab neighbours on Sunday not to raise crude output to replace Iranian oil in the event of an embargo by the European Union, Tehran's OPEC Governor Mohammad Ali Khatibi was quoted as saying.

Heating homes with gas gets cheaper

NEW YORK (CNNMoney) -- Good news for homeowners: Natural gas prices are the lowest they've been in years. And they're expected to fall even further, thanks to growing production and slack demand.

Pa. families get no quick answer from EPA on water

PHILADELPHIA (AP) — Residents of a small northeastern Pennsylvania town at the center of the political fight over natural gas drilling struck out Friday when they tried to take their complaints directly to the head of the U.S. Environmental Protection Agency.

Energy-hungry Japan in $34 bln Australia gas deal

Japanese energy firm Inpex and French giant Total on Friday announced a huge $34 billion gas project in Australia, as Tokyo looks for alternatives to nuclear power in the wake of the Fukushima disaster.

Wind and sunlight make Kenyan profits

Many things may be lacking in Africa but there are two which are abundant and free all over the continent - wind and sunlight - and Kenya's Anthony Kiptoo Ng'eno decided to turn them into a profit.

Fracking for oil, natural gas spurs sand mining in Midwest

CHIPPEWA FALLS, Wis. – The rolling hills and scenic bluffs of western Wisconsin and southeastern Minnesota hide a valuable resource that has sparked what's been called a modern-day gold rush.

Biomass and Electricity, Part One

Burning natural gas releases less heat-trapping carbon dioxide then burning coal does because it has only about half as much carbon per unit of energy.

Scotland set for renewable energy deal in Abu Dhabi

Scotland is poised to sign a renewable energy technology research deal in the Middle East.

A Coal-Fired Plant That Is Eager for U.S. Rules

BALTIMORE — As operators of coal-fired power plants around the country welcome a court-ordered delay on tighter pollution rules, the owner of a retrofitted plant here says that the rules cannot come too soon.The company, Constellation Energy, says it is an issue of fairness.

And Now, the Oil Industry Caucus

North America could be self-sufficient in gasoline and diesel fuel in 15 years if only the government would get out of the way, the president of the American Petroleum Institute said on Wednesday in a “state of American energy” address intended to raise the industry’s profile in the presidential election.

End of ethanol subsidy will raise the price of gas

Gasoline could cost 4.5 cents a gallon more starting as early as this week, and it's not because of rising oil prices.

Storehouses for Solar Energy Can Step In When the Sun Goes Down

If solar energy is eventually going to matter— that is, generate a significant portion of the nation’s electricity — the industry must overcome a major stumbling block, experts say: finding a way to store it for use when the sun isn’t shining.

Gulf deep drilling thrives, 18 month after BP spill

ALAMINOS CANYON, Gulf Of Mexico – Two hundred miles off the coast of Texas, ribbons of pipe are reaching for oil and natural gas deeper below the ocean's surface than ever before.

Washington Begins Building Its Part of the West Coast Electric Highway

Washington has started building its segment of the West Coast Electric Highway, a series of electric-charging stations that will extend along I-5 from the bottom of California to the top of Washington. Officials celebrated the ground breaking for the state’s first public DC fast-charging station in Bellingham, Wash., on Wednesday.