Panagariya launches India Energy Security Scenarios

New Delhi, Aug.28 (ANI): Dr. Arvind Panagariya, Vice Chairman, NITI Aayog, has launched the India Energy Security Scenarios (IESS) 2047 Version 2.0 and unveiled the IESS website along with the documents at a conference organized by FICCI in partnership with NITI Aayog.

Why Saudi Arabia won't cut oil production

Nine months after OPEC decided to leave its production target unchanged and pursue market share instead of trying to prop up prices, the group is facing a set of complex problems and decisions going forward.

Australia's Pollution Level Seen Rising Beyond Abbott's Target

Australia’s greenhouse gas emissions are likely to rise in the next 15 years, missing by a wide margin a target proposed for United Nations talks on global warming, a team of researchers said.

Barack Obama singles out Koch brothers over fossil fuel lobbying

Barack Obama has railed against US political and business figures who oppose the expansion of wind and solar power in a speech where he singled out the influential Koch brothers for criticism.

Russian Security Service Said to Stall Schlumberger Deal

Russia’s Federal Security Service, the main successor to the KGB, is holding up Schlumberger Ltd.’s acquisition of a 46 percent stake in Eurasia Drilling Co., according to two people with knowledge of the matter.

Gas Golden Age Fades as Supply Boom Meets Japan Nuclear Rebirth

The golden age of natural gas lost some of its luster this month. Japan, the world’s biggest buyer of the fuel in liquid form, restarted a nuclear reactor on the island of Kyushu Aug. 11, re-embracing atomic power to shrink energy-import costs.

Victoria to fast-track the construction of 50 new wind turbines worth $200m

The Victorian government has set itself against the Coalition government over renewable energy by fast-tracking plans to build 50 new wind turbines worth $200m.

Barrel of US crude drops below $40

NEW YORK (AP) — A barrel of U.S. crude oil fell below $40 per barrel for the first time since the end of the global economic crisis.Friday's fall, to $39.86, was just the latest indicator of a vast shift in the energy landscape over the past year.

Japan switches on first nuclear reactor since Fukushima disaster

TOKYO — Japan switched on a nuclear reactor Tuesday on the southern island of Kyushu, marking a first, tentative return to nuclear energy after catastrophic meltdowns four years ago at the Fukushima plant.

'Tony Abbott’s hubris is staggering': UK's climate adviser on emissions target

Australia’s “pathetic” 2030 emissions reduction target shows the country has opted out of the global effort to limit warming, according to the head of the British government’s climate change advisory body.

Slip sliding oil and inflation data

Producer price inflation data, consumer sentiment and industrial production are on tap for Friday, but traders may be diverted more by other factors, such as whether oil continues to slide.

Fracking bids to be fast-tracked

Shale gas planning applications are to be fast-tracked under new government measures to crack down on councils that delay on making a decision.

Oil at $30 Is No Problem for Some Cost-Cutting Bakken Drillers

The lowest crude prices since 2009 might still not be enough to end the U.S. energy renaissance.

For Norway, Oil at $50 Is Worse Than the Global Financial Crisis

When the financial crisis brought the global economy to its knees, Norway was largely unscathed. But oil under $50? That's another story.

U.S. vs. Saudi Arabia: The Oil War

Saudi Arabia leads the Organization of the Petroleum Exporting Countries (OPEC), launched an economic oil war with the United States in November last year when it decided not to cut its production despite the declining oil prices.

Coal is not the answer to India's energy poverty, whatever Tony Abbott says

Adani’s huge Carmichael coal mine – the biggest in Australian history – has been overturned by the federal court, causing much consternation for coal advocates, chief among them Australian prime minister Tony Abbott.

Russia lays claim to vast areas of Arctic

Russia has submitted a bid to the UN claiming vast territories in the Arctic, the country’s foreign ministry said on Tuesday.

Kerry Meets Arab Gulf Ministers to Ease Concerns Over Iran Deal

Secretary of State John Kerry is meeting Gulf foreign ministers Monday to provide assurances that the U.S. commitment to the oil-rich region isn’t wavering after last month’s landmark nuclear agreement with Iran.

A $600 million coal mine just sold for less than $1

On Thursday, Bloomberg reported that the biggest American producer of coking coal, Alpha Natural Resources, could file for bankruptcy as soon as Monday.

Putin's Energy Giant Falls on Hard Times

Years of mismanagement and politically driven expansion are catching up to the Russian state-owned natural gas company Gazprom.

BP warns on oil price after reporting $6.3B loss

BP (London Stock Exchange: BP.-GB), one of the world's biggest oil companies, announced a second-quarter replacement cost loss of $6.3 billion Tuesday, and warned that low oil prices are here to stay.

Libya Crude Output Drops as Conflict Cuts Power at Oil Fields

Libya’s crude production dropped below 400,000 barrels a day as the conflict in the divided North African country cut electricity supply at oil fields, according to the state-run National Oil Corp.

Investors could lose $4.2tn due to impact of climate change, report warns

Private investors stand to lose $4.2tn (£2.7tn) on the value of their holdings from the impact of climate change by 2100 even if global warming is held at plus 2C, a report from the Economist Intelligence Unit (EIU) has warned.

GE Books $2.5 Billion African Orders From Oil to Locomotives

General Electric Co. has booked $2.5 billion of orders from sub-Saharan Africa in the past 11 months, including oil and gas equipment for Eni SpA in Ghana and locomotives for Angola.

Small scale solar energy subsidies set to end

Subsidies for many new solar farms are to end under plans being published by the government. The Department of Energy and Climate Change (DECC) is consulting on plans that would see subsidies for some new solar farms close by 2016.

British Gas falls short on promised £35 savings

British Gas said this week that it is cutting the average annual energy bill by £35 – but you could save much more by switching to a cheaper tariff.

Will Asia disrupt energy financing?

Faced with a yawning energy deficit in years ahead and the need to protect against climate change, Asia is looking for fresh ways to finance its shift toward renewables.

Saudi Arabia Crude Exports Fall to Five-Month Low on China

Saudi Arabia’s crude oil exports slumped to a five-month low in May as local refineries used more supplies and some plants in China closed for maintenance.

U.K. Proposes Rules to Let Fracking Under National Parks

The U.K. proposed new rules for hydraulic fracturing that would allow drillers to frack for oil and gas under national parks and UNESCO sites, drawing criticism from environmentalists who called the plan “outrageous.”

Lira Rises to Seven-Week High as Oil Drops on Iran Nuclear Deal

Turkey’s lira advanced the most in emerging markets as sliding oil prices boosted the outlook for the nation that imports most of its energy.

Why Big Oil Deals Are Ready for an Explosion, in Three Charts

As oil began crashing late last year, many prepared for a buying spree. Shale was going on sale. That sale has yet to show up.

Oil prices could keep falling due to oversupply, says IEA

Oil prices have not reached rock bottom and could continue falling well into next year, according to the west’s energy watchdog.

U.S. Oil Drillers Add Rigs for Second Straight Week

Drillers put rigs in U.S. oil fields back to work for a second straight week, suggesting the end of an unprecedented retreat from the country’s prolific shale formations.

Tory 'blue crap' means UK is falling behind in global switch to clean energy

The government says that it wants a sustainable, secure and affordable energy system. Unfortunately, week-by-week since the general election, and now with the budget, it has made statements or policy changes that take us further away from that goal, and put us increasingly out of step with the rest of the world.

Iran nuclear talks extended by three days

Nuclear talks in Vienna have been extended by three more days amid disagreements between Russia and the west over lifting an arms embargo on Iran.

Commodities Stumble as Greece Sends Investors to ‘Safety First’

Oil, metals and grains tumbled as Greece’s vote against further austerity and China’s emergency measures to support domestic stocks shook confidence in global economic growth, sending investors to haven assets.

New coal plants 'most urgent' threat to the planet, warns OECD head

Governments must rethink plans for new coal-fired power plants around the world, as these are now the “most urgent” threat to the future of the planet, the head of the OECD has warned.

China Wary of Closer Russia Energy Ties, Ex-Cnooc Economist Says

China is wary of expanding energy investments in Russia because closer ties with the Kremlin could harm its relations with the U.S., according to a former researcher at China’s biggest offshore explorer.

New oil bull market in sight as Brazil, Iraq cut output targets

LONDON (Reuters) - Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years, leading to a price spike that would give a new boost to the U.S. shale industry.

Rig Rout Puts Smaller Drillers in Front as Oil Majors Scale Back

Crude oil’s plunge is leaving drilling rigs idle from Africa to Latin America as the world’s biggest energy companies curtail spending and stall projects.

Britain's big six energy firms face moment of truth

Ed Miliband’s pledge in 2013 to freeze energy bills and “reset” the market may feel like ancient history, but next month the big six power suppliers will face a renewed test of their public reputation.

Oil markets soft as markets eye Greece, Iran uncertainty

NEW YORK (Reuters) - Brent futures were little changed on Friday while U.S. crude prices fell slightly as Greece's debt drama and Iran's bid to seal a nuclear deal by the month end led to uncertainties in oil markets.

Oil Majors Urged by UN to Plan for Phasing Out Fossil Fuels

The top United Nations climate diplomat urged the heads of six European oil majors to plan for phasing out fossil-fuel emissions by 2100 and to work with governments on cleaner forms of energy.

Climate change threatens 50 years of progress in global health, study says

Climate change threatens to undermine half a century of progress in global health, according to a major new report.

Catch them if you can: the pragmatic ways to cut carbon emissions

With an immense scientific consensus that manmade greenhouse gases cause climate change, there is pressure to reduce carbon emissions, but little sign that governments can reach a binding agreement to cut back sufficiently.

Never Mind the Pope, Australia Plans Czar to Police Windfarms

A day after Pope Francis urged world leaders to cut fossil-fuel emissions, Australia outlined plans to appoint a commissioner to crack down on windfarms.

U.S. Proposes 24% Increase in Fuel Economy of Trucks by 2027

Asking the trucking industry to do more to cut the emissions that add to climate change, the Obama administration on Friday proposed a 24 percent increase in fuel-economy requirements for tractor-trailers over a decade.

China’s Anti-Graft Investigator Keeps Oil Giants in Its Sights

China’s anti-corruption investigators continued to zero in on the nation’s oil giants, calling on two of its biggest state-owned companies to review their overseas investments and accusing them of nepotism.

U.S. oil prices edge up as Texas braces for storm

LONDON (Reuters) - U.S. crude oil prices edged up on Tuesday as a tropical storm headed towards the oil-producing state of Texas, but oversupply kept Brent lower.

Essar Oil Surges to Highest Price in 4 Years on Rosneft Report

Essar Oil Ltd., India’s second-biggest non-state oil refiner, jumped to the highest level in more than four years in Mumbai following reports OAO Rosneft may acquire a 50 percent stake.

Cash for Oil: China and Iran Strike New Oil Payment Plan

Oil and gas deals between China and Iran are set to change. Last week, several news agencies in the region, including the Iran Daily and Trend News Agency said that Iran and China have agreed that China would pay in cash for the oil and gas it buys from Iran.

BP: Demand for energy 'slowing'

The growth in global demand for energy slowed to levels not seen since the late 1990s, a new report suggests.

Court throws out lawsuits challenging climate plan before it was final

A federal appeals court on Tuesday threw out a pair of high-profile lawsuits challenging the Obama administration’s sweeping plan to address climate change, saying it’s too early to challenge a proposed rule that isn’t yet final.

G-7 Calls for Zero Fossil-Fuel Emissions by End of 21st Century

Some of the world’s richest nations threw their weight behind a plan to stamp out fossil-fuel emissions by the end of the century in an unprecedented show of unity on climate change.

Saudi Arabia Isn’t Trying to Curb U.S. Oil Firms, Petraeus Says

Saudi Arabia is trying to maintain its share of the global oil market rather than use its power in OPEC to curb U.S. producers, according to David Petraeus, former director of the Central Intelligence Agency.

OPEC agrees to keep pumping as oil glut fears persist

VIENNA (Reuters) - Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports.

EPA Study of Fracking Finds 'No Widespread, Systemic' Pollution

Hydraulic fracturing for oil and natural gas has contaminated some drinking wells but the impact is not widespread, according to three-year landmark U.S. study of water pollution risks released today.

'No shale gas revolution in Europe'

There will be no US-style shale gas revolution in Europe, the president of the International Gas Union (IGU) has told the BBC.

Angola says $80 might be right oil price

Vienna (AFP) - OPEC member Angola declared Tuesday that $80 might be the "right oil price" for the market, ahead of this week's key production meeting in Vienna."

Oil Slump Gives Calgary Tower-Building Opportunity, Mayor Says

The oil price downturn is creating a building opportunity for commercial real-estate developers in Calgary, home to Canada’s petroleum industry, rather than deterring investment, Mayor Naheed Nenshi said.

Nick Stern: Shell is asking us to bet against the world on climate change

Shell is asking investors to bet against the world taking action on climate change or in renewables displacing fossil fuels, says influential economist Nick Stern.

Alberta Fires Keep 10% of Oil Sands Offline for Third Day

Wildfires in northern Alberta kept about 10 percent of Canada’s oil sands production offline for a third day as Bank of America Corp. warned the blazes may slow the economy.

Top 4 Oil Companies For Dividend Investors

Investing in the energy industry right now can be scary. On the one hand, oil prices have been extremely volatile and look likely to stay that way.

UK fracking firm applies for licence in North Yorkshire

A small energy company has become the second firm to apply for a licence to frack for gas in Britain, submitting an application for a site in the Vale of Pickering in Yorkshire.

Saudi Oil Supply Outpaces Rivals in Grab for Record China Demand

Saudi Arabia expanded its share of China’s oil market last month, outpacing rival producers as they compete to meet record demand from the world’s biggest energy consumer.

Canada Stocks Rise as Energy Producers, Railroads Lead Gains

Canadian stocks rose the most in three weeks as energy producers jumped with the price of crude and railroad operators led industrials higher.

Norway’s PM Relieved as Nation Avoids Crisis of Sub-$45 Crude

Norwegian Prime Minister Erna Solberg is breathing easier now that western Europe’s biggest crude producer looks poised to avoid the peril of oil prices sinking below $45 per barrel.

Oil prices tank as oversupply worries dominate

New York (AFP) - Oil prices slumped Tuesday as resurgent worries about the global supply glut combined with a sharp dollar rally.US benchmark West Texas Intermediate for delivery in June shed $2.25 to finish at $57.99 a barrel on the New York Mercantile Exchange.

Big Oil Is About to Lose Control of the Auto Industry

While the U.S. pats itself on the back for the riches flowing from fracking wells, an upheaval in clean energy is quietly loosening the oil industry's grip on the automotive industry.

China and India call on rich countries to step up climate change efforts

China and India, the world’s first and third biggest greenhouse gas emitters, projected a united front on climate change on Friday with a rare joint statement that asked rich countries to step up efforts to reduce global carbon emissions.

Petrobras Shakes Off Bad News With $7.2 Billion Earnings

Petroleo Brasileiro SA, the state-run oil producer battered by months of bad publicity from a corruption probe and asset writeoffs, reported some surprising good news.

Canada to Regulate Oil and Gas Emissions to Meet New 30% Target

Canada has pledged to cut greenhouse-gas emissions by about a third by 2030, partly by introducing new regulations on its oil and gas sector.

Oil drops below $60 as market grapples with supply-glut worries

U.S. benchmark oil prices fell below $60 a barrel on Thursday, pressured by market worries over a glut of global crude supplies and indications that oil producers will continue to boost output.

Tory pledge to end wind subsidies risks green economy, say industry leaders

The Conservatives must not undermine the so-called green economy and cause job losses through their manifesto pledge to end subsidies for onshore windfarms, figures in the renewable energy industry have said.