Energy

Paris / WAM After two years of unprecedented decline, global upstream oil and gas investment is expected to stabilise in 2017, according to a report issued by the International Energy Agency, (IEA). However, an upswing in US shale spending contrasts with stagnation in the rest of the world, signalling a two-speed oil market. At the same time, the oil and ...

Bloomberg Electricity drew in more investment than fossil fuel supply for the first time last year as the energy industry prepared for electrification of everything from cars to buildings and industrial processes. Power generation and electricity grid expansions took in $718 billion, 42 percent of the $1.7 trillion invested in energy last year, according to a report by the International ...

Bloomberg Everyone knows the rapidly shrinking energy sector has seen its influence on equity indexes wane. But oil-and-gas companies are also losing pull in a corner of the market they once dominated: value stocks. How far have they fallen? As recently as 2012, correlations between the S&P 500 Value Index and the benchmark’s energy companies were often close to 1, ...

Bloomberg Libya and Nigeria, which have both boosted oil production since they were exempt from global cuts this year, may be asked to cap their crude output soon in an effort to help re-balance the market, Kuwait Oil Minister Issam Almarzooq said. OPEC and non-OPEC producers have invited the two African nations to their committee meeting in St. Petersburg, Russia, ...

Bloomberg For the first time in more than 30 years, America’s nuclear plants have fallen behind wind farms, solar panels and other renewable energy suppliers as a source of electricity. In March and April, US power from utility-scale renewables topped output from reactors for the first time since July 1984, according to a US Energy Information Administration report. Supplies from ...

Bloomberg Hungary sees a new pipeline for Russian gas as the “only realistic” step toward energy diversification now, Foreign Minister Peter Szijjarto said on the same day Poland used a visit by US President Donald Trump to announce plans to wean itself off fuel supplies from its Soviet-era master. Hungary signed an agreement this week with Russian energy giant OAO ...

Bloomberg BlackRock Inc. exceeded a $1 billion fundraising target for wind and solar investments for its latest global clean energy fund, underscoring investor interest in renewable energy amid policy uncertainty in key markets. The second Global Renewable Power Fund, or GRP II, managed by BlackRock’s Real Assets closed after it raised $1.6 billion from 67 pension funds, insurance companies and ...

Bloomberg Hidden by pine forests near the deserted site of what was once East Germany’s biggest nuclear reactor, two shiny pipelines emerge from the Baltic Sea to mark the spot where Chancellor Angela Merkel is trying to secure the country’s energy future. Not far from the Hanseatic town of Greifswald — an area Merkel represents in parliament — the chancellor ...

Bloomberg Banks and energy producers led a broad rally in European stocks as investors kicked off the second half of the year. The Stoxx Europe 600 Index added 0.6 percent at 8:21 a.m. in London, rebounding from a two-month low. The benchmark on Friday extended its June declines to 2.7 percent, the worst in a year, halting its longest run ...

DUBAI­­­­ / Reuters Iran plans to sign a new contract to develop its giant South Pars gas field with France’s Total and China’s CNPC on Monday, the first major Western energy investment since sanctions against Tehran were lifted, an Iranian oil ministry official told Reuters. Total holds a 50.1 interest in the South Pars project with state-owned China National Petroleum ...