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.