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  Bloomberg Six months ago, UK North Sea oil and gas faced the bleakest outlook in its 50-year history. The government was focused on hosting the COP 26 climate talks and environmentalists were close to killing off one of the country’s largest oilfield developments, called Cambo. An industry that had excelled at prolonging its lifespan was at risk of sudden …

Bloomberg The Texas grid operator called on residents to conserve energy after six generation facilities tripped offline amid hot weather, prompting power prices to spike. The power-plant failures resulted in a loss of about 2,900 megawatts of electricity, the Electric Reliability Council of Texas (Ercot) said. That’s enough power for about 580,000 homes and businesses. Natural-gas fired plants make up …

  Bloomberg European natural gas prices jumped following disruptions to a key transit route through Ukraine, and as Germany said Russia was using energy as a weapon in an escalating clash over supply. The benchmark contract surged more than 22%, with shipments from Russia via Ukraine set to fall by about 30% following interruptions at a cross-border entry point as …

Bloomberg German utility Uniper SE is confident its next payment for Russian natural gas will comply with Kremlin demands without violating sanctions, in the latest sign that European companies and their Russian supplier are finding ways to keep the gas flowing. Uniper, one of Europe’s biggest buyers of the fuel from Russia, will pay in euros when its next bill …

Bloomberg Gazprom has written to its European clients seeking to reassure them that they can keep paying for gas without breaching sanctions, the latest indication that Russia may be trying to find a way to keep the gas flowing. European companies are scrambling to work out how they can keep buying Russian gas after Moscow demanded payments be made in …

Bloomberg Lawmakers in the European Parliament’s environment committee agreed a set of draft compromise changes to a sweeping overhaul of the European Union’s carbon market in a push to further strengthen the cap-and-trade program. Representatives of the biggest political groups in the ENVI committee signed off on joint proposals to toughen carbon permit supply controls and improve existing shields against …

  Bloomberg Germany signed contracts to charter four floating terminals to import liquefied natural gas in partnership with utilities RWE and Uniper as it races to reduce its energy dependence on Russia. Shipping companies Hoegh LNG and Dynagas will each provide two of the LNG terminals — which together have the capacity to convert at least 20 billion cubic meters …

  Bloomberg Exxon Mobil Corp tripled its share-buyback programme to as much as $30 billion after profits surged amid Russia’s invasion of Ukraine and a rally in worldwide energy prices. The repurchases will be made through the end of next year, Exxon said in a statement. The oil giant more than doubled first-quarter adjusted net income to $8.8 billion, or …

  Bloomberg KKR & Co agreed to acquire French solar and biomass power producer Albioma SA in a deal valued at about 1.6 billion euros ($1.7 billion), in the latest sign of investor demand for renewable energy assets. The buyout firm offered 50 euros per Albioma share, plus a cash dividend of 84 cents, according to a statement, confirming an …

Bloomberg Germany said it’s discussing the decision by Russia’s Gazprom PJSC to halt gas flows to Poland and Bulgaria with European Union partners, and although it views the move with concern, security of supply is currently guaranteed. “All in all, gas flows are currently at a stable level but we are monitoring the situation very closely,” the economy ministry in …