Energy

Bloomberg The world’s biggest oil companies are pumping out cash like crude’s at $100 a barrel again, and investors love it. Exxon Mobil Corp, Royal Dutch Shell Plc, Chevron Corp and BP Plc smashed analysts’ earnings estimates for the fourth quarter, giving investors assurance that their dividends and buybacks are secure even with oil trading near $60. Those companies together …

Bloomberg BP Plc joined its Big Oil peers by giving investors a positive surprise, exceeding profit estimates and earning better returns than its closest European rival. Shares surged by the most in almost three years. New projects delivered an increase in oil and gas output, while the company also worked its existing fields and refineries more efficiently than ever. That …

Bloomberg French oil giant Total SA is working with advisers as it weighs an offer for Eneco Groep NV, joining a number of financial and industry bidders for the Dutch utility, including rival Royal Dutch Shell Plc, people familiar with the matter said. The firm, which is owned by dozens of Dutch municipalities and is due to be auctioned this …

Bloomberg The three largest automakers in US suspended some operations on the coldest day of the year after a fire at a Southeast Michigan natural gas facility drastically reduced their supply of the heating fuel. Energy prices soared as freezing weather spread into the Northeast and closed a nuclear reactor in New Jersey. CMS Energy Corp.’s Consumers Energy utility sends …

Bloomberg For the thousands of energy traders, utility executives and analysts descending on Essen and the E-world fair in Germany this week the impact of a relatively mild winter on the power and gas markets will be a main topic of conversation. The warmer-than-usual temperatures for most of the heating season so far, along with concern about climate change, is …

Bloomberg The Gulf of Mexico is turning into a parking lot for Venezuelan crude, as the US sanctions on Petroleos de Venezuela SA essentially stop the flow of oil from the Latin America country. Tankers holding about 6 million barrels of Venezuelan oil are floating in the US Gulf Coast or heading there, according to data from cargo-tracking and intelligence …

Bloomberg Russia’s crude producers removed their first 42,000 barrels per day from the market in January under the OPEC+ output-cut agreement, slightly below earlier estimates of Energy Minister Alexander Novak. Russia produced 48.11 million tons of crude oil, according to data from the Energy Ministry’s CDU-TEK unit. This equals 11.376 million barrels per day compared to the October baseline of …

Bloomberg Chancellor Angela Merkel’s government is set to hold more auctions for offshore wind power, plugging a current gap in tenders for the next three years that the industry has said would harm turbine makers and hamper green targets. Germany will probably add about 5 gigawatts in capacity in the coming years, bringing the total capacity envisaged by the end …

Bloomberg Laden with 400,000 barrels of Venezuelan oil, the Icaro sits in the azure waters of the Caribbean just off the Dutch island of Curacao. It’s been there more than a month, and it’s not going anywhere until state-owned oil company PDVSA pays its bills. The Icaro has become an unlikely but telling symbol of Venezuela’s woes. And it shows …

Bloomberg Adani Gas Ltd surged the most in nearly two months after India’s top court nullified orders restricting its network expansion. Shares jumped as much as 6.8 percent to 94.55 rupees, the biggest intraday gain since December 5, before paring its advance to 3.4 percent in Mumbai. The benchmark NSE Nifty 50 index was little changed. A two-judge Supreme Court …