Bloomberg Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments. The world’s biggest energy firm kept its quarterly payout at $18.75 billion. The money is a vital source of cash for the kingdom. The bumper results follow those last week …

Bloomberg The cost of pollution in the European Union exceeded 50 euros ($60) per metric ton for the first time in the market underpinning the region’s energy transition. Carbon’s run of records in the past year has mirrored the EU’s resolve to ramp up its climate ambition. The bloc’s cap and trade system is a key tool to enact its …

Bloomberg Peabody Energy Corp, the biggest US coal producer, named James Grech to be its next chief executive officer as the industry faces a long-term decline in demand for the fuel. Grech, the CEO of the Utah-based coal company Wolverine Fuels, will take over at Peabody from June 1, according to a statement. Peabody said in March that its current …