Energy

  Bloomberg German utilities from RWE AG to EON SE may struggle to convince investors they can adapt to the renewable energy revolution even after the industry’s unprecedented shakeup in 2016. Headwinds range from a power price rally that’s forecast to fade this year to a multi billion-euro nuclear clean-up bill. While planned spending curbs and thousands of job cuts ...

  Bloomberg From the rivers criss-crossing eastern Europe to the Mediterranean ports of Greece and France, everyone is hunting for energy supplies. Blizzards, gale force winds, arctic temperatures and river ice thicker than a house has left the stewards of the European energy business frenzied. Prices of natural gas, primarily a heating fuel, has soared to the highest in more ...

  Bloomberg About 50,000 lives a year could be saved by 2030 if no new coal-fired power plants are built in Southeast Asia, South Korea, Japan and Taiwan, according to a study from researchers at Harvard University and Greenpeace International. If coal plants currently planned or under construction in the region are actually built, some 70,000 deaths could result annually, ...

  Bloomberg Oil posted the biggest weekly decline since November as traders await proof that OPEC and other producers are following through on promises to cut production. Futures declined 1.2 percent in New York on Friday and slid 3 percent this week. Saudi Arabia reduced output to less than 10 million barrels a day and will consider renewing its pledge ...

  Bloomberg MEG Energy Corp. is boosting production at its Christina Lake project in Alberta and tapped debt and equity markets for financing, further signs of a rebound in Canada’s oil patch as crude prices stabilize. The expansion at Christina Lake Phase 2B will increase output from the site by about 25 percent to 100,000 barrels a day by 2019, ...

  Bloomberg Saudi Arabia will consider renewing its pledge to cut crude output in six months and has already reduced production by more than its targeted level, Energy Minister Khalid Al-Falih said. The world’s biggest oil exporter agreed to cut 486,000 barrels a day from Jan. 1 for six months as part of a global deal to reduce output to ...

  Bloomberg The price paid for solar power in India at auction is set to fall below last year’s record lows for the South Asia nation, driven by plummeting panel prices, falling interest rates and competition among developers seeking a slice of the country’s renewables market. Prices could dip lower than the 4.34 rupees (6 cents) a kilowatt-hour offered in ...

  Bloomberg Russia and Kazakhstan said they’ve met or exceeded their initial goals for trimming oil output, bringing cuts by non-OPEC nations in the first 10 days of this year to more than a quarter of the total pledged a month ago in Vienna. Russia’s oil production has shrunk by around 130,000 barrels a day in the first week of ...

  Bloomberg Oil held gains after advancing the most in almost six weeks as US refiners processed a record amount of crude, while OPEC and other producing nations trim output to stabilize the market. Oil has been unable to sustain its rally above $55, driven by the deal between the Organization of Petroleum Exporting Countries and 11 other nations to ...

  Bloomberg The oil industry will shake off the effects of the biggest downturn in a generation this year as they more than double project approvals and increase exploration spending for the first time in three years, according to Wood Mackenzie Ltd. Companies will green-light more than 20 oil and gas fields for development compared with nine in 2016, the ...