The future EU energy chief says he will speed up the end of Russian gas imports
Dan Jorgensen wants to end the EU's dependency on Russian fossil fuels as soon as possible, he said at a Tuesday parliamentary hearing. Ursula von der Leyen, President of the European Commission, has…
Germany allocates $3 billion to decarbonisation subsidies
According to the German economy ministry, the German government has allocated up to 2.8 billion euro ($3.1 billion) for 15 industrial companies to help them decarbonise their operations under its first "climate protection contract" round.
U.S. Oil Firms' Quarterly Reports to Show Depths of Slump
Investors are in for more bad news on the energy front in the coming weeks as a host of the sector's biggest companies report quarterly results following the historic collapse in oil prices.Forecasts for U.S.
Chevron Profit Surges 26%
Chevron Corp reported a 26.3% jump in quarterly profit on Friday, as higher oil and gas production and a one-time breakup fee from its failed bid for a rival more than offset lower energy prices and…
STATS Group Post 65% Profit Increase
Pipeline technology company STATS (UK) Ltd increased profits by 65 percent to £4.3 million ($6 million) while maintaining revenues of £30 million, ($41 million) according to its latest annual accounts…
Vitol's 2016 Profit Soars 25 pct
World's largest independent energy trader Vitol's profit rose 25 percent last year, the Financial Times reported on Monday, citing people familiar with the matter. The Swiss-based company had a net income of $2 billion in 2016…
Trump Picks Rick Perry for Top US Energy Job
President-elect Donald Trump on Wednesday named former Texas Governor Rick Perry to head the U.S. Department of Energy, handing the job to a climate change skeptic with close ties to the oil industry who once proposed abolishing the department.
Qatar to Merge LNG Producers Qatargas and RasGas
Qatar will merge state-owned liquefied natural gas producers Qatargas and RasGas Co Ltd, the chief executive of Qatar Petroleum (QP) said on Sunday, in the Gulf state's latest reaction to lower energy prices.
Energy Efficiency Gains Ground Despite Lower Energy Prices -IEA
As governments focus on implementing their commitments to save energy and reduce carbon emissions under the recently ratified Paris agreement, a new report from the International Energy Agency (IEA)…
Technip, FMC Target Oil Services 'Big League' with Merger Deal
France's Technip on Thursday announced an all-stock merger with U.S. rival FMC Technologies, as it seeks to offset weaker spending on exploration and production by cash-strapped oil companies. The new group…
Inpex to Cut Investment Due to Lower Energy Prices
Japan's biggest oil and gas explorer Inpex Corp said on Thursday it would reduce development expenditure by 24.2 percent to 667 billion yen ($6.11 billion) in the year that started in April, due to lower energy prices.
Petronas Still in Talks with Canada on LNG Deal
Malaysian energy firm Petroliam Nasional Bhd (Petronas) continues to hold talks with Canadian authorities on how it can move forward with its much-delayed liquefied natural gas (LNG) project, a company official said on Thursday.
South Africa to Start Shale Gas Exploration in Next Year
South Africa will give the green light in the next 12 months to companies looking to explore for shale gas under the semi-arid Karoo basin, the government said on Tuesday, more than six years after firms such as Shell applied for licences.
Technip Explores Sale; Talks with FMC Technologies
French oilfield services company Technip is exploring a sale and has held talks with U.S. peer FMC Technologies Inc about a potential combination, according to people familiar with the matter on Wednesday.
IMF: German Economy Benefiting from Weaker Euro
The weaker euro and lower energy prices are supporting the German economy, giving Berlin room to bolster medium-term growth and reduce external imbalances, the International Monetary Fund (IMF) said on Wednesday.
Siemens CEO Fears Impact of Oil Price Drop
German industrial group Siemens is worried that the slump in oil prices is discouraging oil-exporting countries from investing in infrastructure, Chief Executive Joe Kaeser said on Thursday. "That's something we are seeing already.
Shell Pulls Back from South African Shale
Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices although it is still seeking an exploration license for the onshore Karoo Basin, its country manager said on Monday.
Wells Fargo Examines Its Energy Loans After Oil Price Drop
Wells Fargo & Co, one of the biggest lenders to U.S. energy companies, is reviewing each of its loans to the sector in the wake of oil prices tumbling 60 percent since last summer, executives said Wednesday.
Central Banks React Differently to Oil Drop
The world's major central banks are scrambling to work through the implications of the near halving of the price of oil in the second half of 2014, and they are coming up with very different conclusions.
ECB's Draghi Seizes on Oil Price Drop in QE Calculus
The falling price of oil has crashed into the European Central Bank's policy considerations, with President Mario Draghi firmly focused on the drop as a problem for inflation rather than a potential fillip for growth.
