Energy

  Reuters Iran, holder of the world’s biggest natural gas reserves, says it will start exports to Iraq in the next month, more than a year later than it originally planned. Shipments will start at 7 million cubic meters a day to supply a power plant in Baghdad, Hamid Reza Araghi, director of the National Iranian Gas Co., said in ...

  Bloomberg All it took was a few words from OPEC to encourage oil bulls. Money managers increased wagers on rising crude prices by the most since January as futures rebounded from a three-month low. Prices jumped after OPEC’s president said August 8 the group will hold informal talks in Algiers next month. “The statement certainly achieved its purpose,” said ...

  SOROTI / AP In this electricity-starved rural part of Uganda, men ride bicycles several kilometers (miles) to the nearest market town simply to charge their phones. That should change with the construction nearby of one of the largest solar plants in sub-Saharan Africa, where two-thirds of the population is without electricity and countries increasingly explore alternative sources of power. ...

  Bloomberg The Latin American refinery bust has proved to be a boon for US fuel makers. From Brazil’s Petroleo Brasileiro SA to Mexico’s Petroleos Mexicanos, state oil companies have failed to complete nine projects worth at least $36.4 billion that would have supplied 1.2 million barrels of gasoline and diesel daily. U.S. refiners have stepped up to help fill ...

  Bloomberg The US oil producers added rigs for the seventh week in a row, the longest period of expansion since the final days of the drilling boom in early 2014. Rigs targeting crude in the US rose by 15 to 396, after seven were added last week, Baker Hughes Inc. said on its website Friday. Explorers have now added ...

  Bloomberg First, Brazil cancelled plans for one of its two planned energy auctions this year because the weak economy is dragging down demand for power. Now that event is back on the schedule and the government may organize a third, because the same economic factors are delaying power projects already under development. The size of the auctions hasn’t been ...

  Bloomberg The top two US solar manufacturers are shifting away from the biggest domestic market because utilities aren’t signing as many deals to buy electricity from their giant power plants. SunPower Corp. the No. 2 US panelmaker, said it’s turning its attention to rooftop power, while First Solar Inc., the biggest producer, now expects more of its growth to ...

  Bloomberg Oil held declines below $43 a barrel as weekly US industry data showed crude stockpiles expanded, keeping supplies at the highest seasonal level in at least two decades. Futures were little changed in New York after losing 0.6 percent on Tuesday. Inventories rose by 2.09 million barrels last week, the American Petroleum Institute was said to report. Government ...

  Bloomberg US electricity consumers could end up paying more than $2.5 billion for nuclear plants that never get built. Utilities including Duke Energy Corp., Dominion Resources Inc. and NextEra Energy Inc. are being allowed by regulators to charge $1.7 billion for reactors that exist only on paper, according to company disclosures and regulatory filings. Duke and Dominion could seek ...

  Bloomberg State Grid Corp. of China’s hopes of buying one of Australia’s biggest electricity distributors may be slipping away amid national security concerns and a protectionist backlash against foreign ownership of critical infrastructure. Government-owned State Grid, the world’s largest utility, and Hong Kong’s Cheung Kong Infrastructure Holdings Ltd. are vying to buy Ausgrid, which supplies 1.6 million homes in ...