Energy

Bloomberg The stage has been set for a European natural gas price war that will help boost demand and enable both Russia and the US to increase sales to the region. The battle won’t brutalize earnings too much because gas supply is just so profitable in Europe, where prices are more than double the prevailing level in the US. And …

Bloomberg India is feasting on Venezuelan oil, after the US imposed a de facto ban on crude imports from the Latin American nation. While flows to the US came to a halt, India became the No. 1 buyer of Venezuelan crude in the first half of February, with imports jumping 66 percent to 620,000 barrels a day. Indian refiners Reliance …

Bloomberg Warren Buffett’s Berkshire Hathaway Inc. is wading into the struggling Canadian energy industry, taking a stake in oil-sands producer Suncor Energy Inc. The purchase of 10.8 million shares, disclosed in a filing, was valued at $300.9 million. That marks at least the second time the Omaha-based firm has owned Suncor’s stock; Berkshire previously held a 22.3 million-share stake, which …

Bloomberg A $7.5 billion liquefied natural gas (LNG) project in East Canada focussed on Europe is seeking to get the go-ahead this year. Pieridae Energy Ltd is targeting the milestone known as a final investment decision after having lined up buyers for the fuel, mainly in Europe. If approved it would add to LNG supplies into northwest Europe, which has …

Bloomberg There’s only so much you can do to make oil and gas production cleaner. That was a key realization behind Royal Dutch Shell Plc’s decision to set targets to reduce greenhouse-gas emissions not just from its own operations, but also from the products it sells which are consumed by others. So far, it’s the only oil major to do …

Bloomberg For Mike Wirth, the future of Big Oil lies at home, under the dusty fields of West Texas. As he celebrates his first year as chief executive of Chevron Corp., Wirth sees the Permian Basin as a plentiful source of high-quality crude for years to come, but that’s not all. The low break-even costs to pump in the Permian …

Bloomberg India is presenting a potential investment opportunity of $50 billion in battery storage facilities that could help integrate renewable energy into the grid, replace polluting diesel-fueled power and boost electric mobility, the head of American energy firm AES Corp. said. “We think India is going to be a big market for energy storage,” Chief Executive Officer Andres Gluski said. …

Bloomberg US solar jobs fell for a second straight year as companies delayed projects in anticipation of President Donald Trump’s import tariffs. The good news: Employment is set to bounce back in 2019. The sector lost about 8,000 jobs in 2018, a 3.2 percent drop, as uncertainty over the tariffs announced early that year slowed large-scale projects, according to a …

Bloomberg Venezuela’s oil minister made a surprise appearance at an energy event in India, as the embattled Opec producer seeks closer ties with major crude customers in the face of crippling US sanctions. Manuel Quevedo said on Monday his nation wants to sell more crude to India, and that US measures have resulted in a $20 billion loss to the …

Bloomberg Total SA said it has opened up a new “world-class” oil and gas province off the coast of South Africa after making a significant gas-condensate discovery there. Success in the nation’s first deep-water well is a potential boon for a country that imports most of its oil, processing the remainder of its fuels from coal and natural gas. “We …