Bloomberg Two of the world’s biggest energy producers have abandoned the sale of some of Australia’s oldest oil fields after running a 20-month sales process. Exxon Mobil Corp. and BHP Billiton Ltd. will retain ownership and operation of fields, licenses and associated infrastructure held in the Gippsland Basin Joint Venture after concluding a sale process, Exxon’s Esso Australia unit said …

Bloomberg The rollercoaster that drags liquefied natural gas prices higher as demand jumps in the northern hemisphere winter is going into overdrive. After a winter in which an unexpected boost in demand from China pushed prices to three-year highs, spot LNG in northeast Asia has plummeted about 30 percent from its mid-January peak. Summer plunges and winter spikes are the …

Bloomberg Fossil-fuel subsidies may actually rise in Europe because of the switch to green energy. European Union governments will have to pay out increased compensation for closing coal-fired plants, according to a report by Bloomberg New Energy Finance. Several countries are also rolling out programs that pay power plants to guarantee electricity supplies, mechanisms that often favor fossil-fuel generation. Renewables …