Energy

  Bloomberg RWE AG, with some of its legacy coal plants dating back to the 1950s, is this year outperforming new green rivals that are supposed to be the future of the energy industry — as well as every other company on Germany’s main stock index. With investors brushing aside news of a scrapped dividend to most shareholders for a ...

  Bloomberg The cost of power generated from wind turbines plunged in Asia’s first auction for contracts to deploy the technology, a victory for India’s effort to reduce pollution and ensure supplies. Solar Energy Corp. of India Ltd., which conducted the auction for the government, said late on Friday that it received bids to supply wind power for 3.46 rupees ...

  Bloomberg Oil retreated from the highest close since July 2015 in New York as record US crude inventories offset OPEC production curbs. Futures dropped 0.8 percent. US government data showed stockpiles rose 564,000 barrels to 518.7 million last week, the highest level in weekly data going back to 1982. Still, it was the smallest gain this year and coincided ...

  Bloomberg European oil majors given a taste of Brazil may soon be ready for more. Norway’s Statoil ASA, Anglo-Dutch company Royal Dutch Shell Plc and France’s Total SA have paid billions since 2013 to gain access to Brazil’s fertile offshore oil riches. They’re now seen as having the best chance to expand when Brazil later this year auctions four ...

  Bloomberg OPEC officials this week hailed the “excellent” and “unprecedented” implementation of their agreement to cut oil production, but were still waiting for solid evidence that the deal was fulfilling their key measure of success and shrinking the global glut. A reduction in the amount of oil held in storage around the world is the most important factor for ...

  Bloomberg Oil fell from the highest price in more than a week amid specul- ation about the effectiveness of OPEC’s supply curbs and forecasts for another expansion in US crude stockpiles. Futures dropped 0.6 percent in London, ending three days of gains. The Organization of Petroleum Exporting Countries is confident members will continue to cut production and reduce global ...

  Bloomberg Chesapeake Energy Corp., the No. 2 US natural gas producer, thinks it has a one-word answer to its debt issues: Oil. Chief Executive Officer Doug Lawler is focusing 60 percent of the Oklahoma City-based driller’s 2017 budget on crude oil projects, mostly in South Texas, Oklahoma and Wyoming shale fields. The company plans about 320 new crude wells ...

  Bloomberg Saudi Arabia is kicking off its $50 billion renewable-energy push as the world’s top crude exporter turns to solar and wind power to temper domestic oil use in meeting growing energy demand. Bidders seeking to qualify to build 700 megawatts of wind and solar power plants should submit documents by March 20, and those selected will be announced ...

  Bloomberg China’s decision to approve its first new nuclear reactors in two years may need to wait for its success starting up the world’s first next-generation units. Plans to green-light eight reactors this year in the world’s fastest-growing nuclear market, announced last week, could depend on whether it’s able to complete some of the world’s most-advanced facilities, including Westinghouse ...

  Bloomberg Brent oil extended gains toward $57 a barrel as Citigroup Inc. raised its price outlook citing strong OPEC compliance with agreed output cuts and growing demand in Asia. Futures rose 1.3 percent in London. Brent will average $55 this quarter, Citigroup said in a note, an increase of $5 from its previous forecast. The North Sea price benchmark ...