Energy

  Reuters An OPEC-led production cut may well be accelerating a drawdown in global oil stocks that began last year, but implementing the reduction for just six months means the producer group will fall short of achieving its objective of rebalancing the market. The Organization of the Petroleum Exporting Countries and non-OPEC producers in December reached their first deal since ...

  Bloomberg When oil topped $100 a barrel three years ago, the tiny village of Norman Wells in Canada’s high arctic was gearing up to be the “Dubai of the Mackenzie River,” with oil revenue bringing prosperity to all. Now, with oil at half that price and one of Canada’s oldest wells set to close, the future is less certain ...

  Bloomberg Oil was pulled higher by a surge in gasoline after US motor fuel supplies unexpectedly fell last week, shrugging off the biggest crude supply gain since October. Gasoline stockpiles fell 869,000 barrels, pushing refining margins more than $2 a barrel higher. Demand climbed the most in a year. Crude inventories climbed 13.8 million barrels in the week ended ...

  Bloomberg China installed almost three times more wind power than the US last year, continu- ing its clean-energy investment blitz to reduce greenhouse gas emissions and increase air quality. China led new global wind-power installations with 23.3 gigawatts, compared with 8.2 gigawatts in second-place US, according to a report published by the Global Wind Energy Council. About 54.6 gigawatts ...

  Bloomberg As freezing weather triggered energy shortages across southeast Europe at the start of the year, Bulgaria’s refusal to export power was typical in a region where everyone had to fend for themselves. Nations from Greece to Hungary hoarded power last month in response to the coldest winter in a decade, exposing the weakness of the region’s power markets, ...

  Bloomberg The quest to supply everyt- hing from data server halls, insurance companies to large furniture stores with green electricity has flooded the Nordic region with wind power and crashed a $100 million renewable-certificates market. While that’s good for the environment and the image of companies from Google Inc. to Ikea Group, the growth in renewable energy has been ...

  Bloomberg Suncor Energy Inc.’s production rose to a record last quarter after the oil-sands giant took control of the Syncrude processing unit and put it at full throttle. Canada’s biggest energy company produced 738,500 barrels of oil equivalent a day in the period, up from 582,900 in the previous quarter, according to an earnings report. The jump was largely ...

  Bloomberg Boosted by higher prices and presidential promises of aid, US coal is having a comeback season. Yet a looming quandary remains: Demand continues to shrink. In the boom-bust cycles of old, the fuel’s use grew relentlessly as a fleet of coal-fired power plants fed America’s hunger for electricity. Now, a new age of clean, cheap natural gas and ...

  Bloomberg Brexit has brightened the outlook for UK solar funds, with higher power prices lifting earnings for the industry and burnishing its attraction for investors seeking to insulate themselves from political upheaval. Trading volumes at three London-listed UK solar funds more than doubled in the six months after June’s referendum calling on Britain to exit the European Union, compared ...

  Reuters Qatar hasn’t made a decision on whether to sell debt, with current oil prices close to the level the country needs to finance spending, according to Finance Minister Ali Al Emadi. “We feel very comfortable,” Al Emadi told reporters in Doha, adding that Qatar is spending about $500 million a week on capital projects. The economy will grow ...