LONDON (Reuters) – A rise in oil prices to four-year highs is heaping pressure on big emerging-market crude consumers such as Turkey, India, Indonesia and South Africa that are already grappling with current account deficits, weak currencies and rising inflation. Emerging markets worldwide have been buffeted in recent months by the strong dollar, climbing U.S. … Read moreRising oil turns up heat on vulnerable emerging economies

Oct 16, 2018, by Lorcan Roche Kelly (Bloomberg) Saudi crisis U.S. Secretary of State Michael Pompeo arrived in Saudi Arabia this morning as the kingdom remains under pressure to explain the disappearance of writer Jamal Khashoggi after entering its embassy in Turkey. Media reports suggest that authorities in Riyadh are considering saying that the journalist died … Read moreFive Things to Know in World Business Today

Oct 15, 2018, by Lin Noueihed, Zainab Fattah, Anthony DiPaola and Mark Niquette (Bloomberg)  President Donald Trump threatened his most important Arab ally with “severe punishment” if it was shown to have killed a top regime critic. Saudi Arabia hit back with a not-so-veiled threat of its own to weaponize its vast oil exports. The … Read moreOil, Debt and Iran: Weapons in Any U.S.-Saudi Row Over Khashoggi

Oct 15, 2018, by Niclas Rolander, Jesper Starn and Elisabeth Behrmann (Bloomberg) Beneath the hoods of millions of the clean electric cars rolling onto the world’s roads in the next few years will be a dirty battery. Every major carmaker has plans for electric vehicles to cut greenhouse gas emissions, yet their manufacturers are, by … Read moreThe Dirt on Clean Electric Cars Is Just Under the Hood

Oct 15, 2018, by Lorcan Roche Kelly (Bloomberg) Down  Hopes Friday’s bounce in U.S. equities would lead to a positive start to the trading week were dashed in the Asia session. Overnight, the MSCI Asia Pacific Index dropped 1.1 percent with China’s Shanghai Composite Index closing at the weakest level since November 2014. In Europe, the Stoxx … Read moreFive Things to Know in World Business Today

FRANKFURT (Reuters) – Germany will cut a green energy surcharge on consumers’ electricity bills by 5.7 percent next year, but savings for households will be limited as other fees are expected to rise. Germans pay the highest electricity bills in Europe as state-induced taxes and fees account for over 50 percent of power bills. German … Read moreGermans to pay slightly lower levy for renewable energy in 2019

Oct 15, 2018, by Grant Smith (Bloomberg) Oil rose as traders assessed a threat by Saudi Arabia, the world’s biggest crude exporter, to retaliate against any punishment over the disappearance of a government critic. Futures climbed as much as 1.9 percent in New York as the market viewed the Saudi Foreign Ministry statement as a … Read moreOil Rises as Saudi Arabia Vows to Hit Back Against Any Sanctions

LONDON (Reuters) – Britain has asked its climate change experts to advise on whether it should set a date to meet a net zero emissions target, the government said on Monday. Britain has a target to cut its greenhouse gas emissions by 80 percent compared with 1990 levels by 2050, but campaigners have warned this … Read moreBritain asks experts to advise on net zero emissions climate target

Oct 12, 2018, by Dan Murtaugh (Bloomberg) The world is pumping out more oil and other petroleum liquids than ever before. Global supply rose to 100.3 million barrels a day in the third quarter, the International Energy Agency said Friday in its monthly oil market report. Output, which includes crude oil, natural gas liquids, biofuels … Read more100 Million Barrels: The World Hit a Daily Oil & Liquids Record

Oct 12, 2018, by Grant Smith (Bloomberg) The International Energy Agency cut forecasts for oil demand this year and next because of growing threats to global economic growth, yet warned that dwindling spare oil supplies will keep prices high. Reduced growth estimates from the International Monetary Fund, trade disputes and the strain of high oil … Read moreIEA Cuts Oil Demand Forecasts But Sees Prices Staying High

Oct 12, 2018, by Lorcan Roche Kelly (Bloomberg) Pause The market rout that saw the S&P 500 Index enter its longest slide since 2016 and gauges in Asia and Europe plunge so far isn’t extending into a third day. Overnight, markets in Asia were boosted by robust China export figures with the MSCI Asia Pacific Index climbing … Read moreFive Things to Know in World Business Today

Oct 12, 2018, by Michelle Jamrisko, Alexandra Stratton and Paul Wallace (Bloomberg) Oil prices have been creeping upwards for more than a year, quietly gaining ground as emerging-market investors fretted about trade and the end of cheap money. But now that crude is near the highest in four years, it’s suddenly a hot topic. For … Read more$85 Oil Opens Chasm Between Emerging Markets’ Winners and Losers

by Matt Chester (Renewable Energy World) When innovators come up with the idea for the next great technological breakthrough, the first roadblocks to seeing that idea to fruition are typically funding. Among renewable energy inventions, this need is typically filled through wealthy private investors, venture capital firms, or government grants. But today, in the age … Read moreKickstarting the Energy Revolution: How Crowdfunding is Pushing the Renewable Energy Transition

LONDON (Reuters) – Energy companies and investors are focused on profits and reluctant to boost spending even after crude prices surged to four-year highs, a senior Goldman Sachs banker said on Thursday. Rattled by the recent downturn in the sector and long-term concerns over oil demand and the switch to renewables, Big Oil is facing … Read moreBig Oil still reluctant to open spending taps: Goldman

LONDON (Reuters) – OPEC’s Secretary-General on Thursday criticized a report calling for radical action to fight climate change, saying the idea that renewable energy was the world’s only future was misguided and that a “bombardment” of green advocacy could be harmful. A U.N. panel this week called for unprecedented changes in how the world consumes … Read moreOPEC Secretary-General questions ‘misguided’ renewables debate after climate report

LONDON (Reuters) – OPEC cut its forecast of global demand growth for oil next year for a third straight month on Thursday, citing headwinds facing the broader economy, and key consuming countries in particular, from trade disputes and volatile emerging markets. In its monthly report, the Organization of the Petroleum Exporting Countries said world oil … Read moreOPEC cuts forecast for global oil demand growth in 2019

Oct 11, 2018, by Lorcan Roche Kelly (Bloomberg) Stock rout A selloff that sent U.S. stocks tumbling the most since February on Wednesday rolled across the globe. Overnight, the MSCI Asia Pacific Index dropped 3.4 percent, while China’s benchmark Shanghai Composite Index crashed 5.2 percent with more than 1,000 stocks falling by their daily limit. All but one stock … Read moreFive Things to Know in World Business Today

LONDON (Reuters) – Royal Dutch Shell expects a landmark corruption trial over a Nigerian oil deal to last many months, warning staff of continued critical media coverage in the $1.3 billion case, according to an internal memo seen by Reuters. Shell’s Legal Director Donny Ching encouraged employees to study an internal web page that the … Read moreShell sees Nigeria corruption trial lasting many months: memo

By Julie Gordon VANCOUVER, Oct 10 (Reuters) – Canada’s Enbridge Inc said on Wednesday it had approval to restart operations on a 30-inch natural gas pipeline in northern British Columbia, after a fire in an adjacent line led to disruptions for refineries in the U.S. state of Washington. The company isolated and depressurized a 36-inch … Read moreCanada’s Enbridge to resume operations in 30-inch gas line in British Columbia

SINGAPORE/NEW DELHI (Reuters) – Saudi Arabia, the world’s biggest oil exporter, will supply Indian buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday. The extra cargoes indicate a willingness by Saudi Arabia to increase crude supply to make up the shortfall once sanctions … Read moreSaudi Arabia to supply extra oil cargoes to India in November as Iran sanctions loom

OSLO (Reuters) – U.S. oil firm Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to a government letter. Oil majors, including Exxon Mobil, BP and Shell, have scaled down their presence in Norway by selling or merging … Read moreChevron becomes first oil major to exit Norway

LONDON (Reuters) – BP Chief Executive Bob Dudley said if the United States imposed sanctions on Russian energy firms Gazprom and Rosneft such as it did on aluminum producer Rusal, it would virtually shut down Europe’s energy systems. BP is the second-biggest shareholder in Rosneft at 19.75 percent. Speaking on Wednesday at an Oil and … Read moreBP CEO: Rusal-like sanctions on Rosneft would shut Europe energy system

PRINCE GEORGE, B.C. — About 100 members of a First Nation community in northern British Columbia were evacuated from their homes Tuesday evening after a gas pipeline ruptured, sparking a massive blaze. The rupture happened on a natural gas transmission pipeline owned and operated by Enbridge about 13.5 kilometres from Prince George on Tuesday evening, Enbridge spokesman … Read morePipeline ruptures, sparks massive fire north of Prince George, B.C.

Oct 9, 2018, by David Stringer and Martin Ritchie (Bloomberg) With a ruined 13th Century castle, the Irish town of Carlow is an unlikely staging post in the super-charged rise of a key player in China’s push to dominate the global electric-vehicle revolution. Ganfeng Lithium Co. sent a team to the town — a 90-minute … Read moreThe Battery Boom Created a New Lithium Superpower in China

Oct 10, 2018, by Lorcan Roche Kelly (Bloomberg) Category 4 Hurricane Michael strengthened to a “dangerous” Category 4 storm ahead of making landfall later today near Panama City, Florida. The fast-moving weather system has already cut oil production by 40 percent and natural gas output by 28 percent in the Gulf of Mexico. Wall Street will … Read moreFive Things to Know in World Business Today

By Ron Bousso and Shadia LONDON (Reuters) – Energy companies are betting demand for natural gas will rise at break-neck pace for decades, undermining warnings that tackling climate change would require a rapid switch to renewable energy. Top oil companies including Royal Dutch Shell (RDSa.AS), BP (BP.L) and Total (TOTF.PA) are adapting with growing urgency … Read moreNatural gas here to stay beyond energy transition, Big Oil says

Oct 8, 2018, by Kelly Gilblom (Bloomberg) Investors still haven’t forgiven oil companies for being ill-prepared for a crude-price collapse four years ago. Perhaps more than half a trillion dollars will change their minds. With oil above $80 a barrel as costs languish at an eight-year low, the industry is seeing green. In 2018 alone, … Read moreBig Oil Is About to Bury Skeptical Investors in Piles of Cash

Oct 9, 2018, by Lorcan Roche Kelly (Bloomberg) Yields rise  The U.S. Treasury selloff continues, with the yield on the 10-year benchmark hitting 3.25 percent, the highest since May 2011. The move comes as the market braces for $74 billion in new supply this week with sales of three-, 10- and 30-year bonds due. Morgan Stanley threw … Read moreFive Things to Know in World Business Today

Oct 9, 2018, by David Marino (Bloomberg) Irving Oil Corp.’s refinery in New Brunswick, a major supplier of fuel to the northeastern U.S., was shut after an explosion and fire in a diesel unit. The hydrotreater, which removes sulfur from diesel to make fuel that meets environmental standards, was in the part of the refinery … Read moreCanada’s Largest Oil Refinery Shut After Diesel Unit Blast

Oct 5, 2018 by Stephanie Flanders, Vivian Nereim, Donna Abu-Nasr, Nayla Razzouk, Alaa Shahine and Riad Hamade (Bloomberg)  Bloomberg’s Senior Executive Editor for Economics, Stephanie Flanders, and five other Bloomberg journalists spoke to Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud Wednesday night at a royal compound in Riyadh. In the wide-ranging interview, the … Read moreSaudi Crown Prince Discusses Trump, Aramco, Arrests: Transcript

Oct 4, 2018, by Saket Sundria (Bloomberg) Rising oil prices may hurt demand in some of the world’s fastest-growing nations unless producers take steps to boost supplies, according to the International Energy Agency. “I wouldn’t be surprised if we revise our numbers,” Fatih Birol, the executive director of the Paris-based adviser, said in a phone … Read moreOil Producers Need to Pump More or Put Demand Growth at Risk

Oct 5, 2018, by Lorcan Roche Kelly (Bloomberg) Payrolls Expectations are for employers in the U.S. to have added 185,000 positions in September when the number is published at 8:30 a.m. Eastern Time. That estimate does come with a big caveat. Hurricane Florence is likely to distort the data, which may mute market reaction to a lower-than-forecast … Read moreFive Things to Know in World Business Today

DUBAI (Reuters) – Saudi Arabia, Kuwait and the United Arab Emirates have agreed to give Bahrain $10 billion to support the country’s funding requirements as it embarks on a fiscal program aimed at eliminating its budget deficit by 2022. Bahrain’s finances have been hit hard by a slump in oil prices in 2014 and the … Read moreBahrain promised $10 billion of support from Gulf neighbors

October 4, 2018, by Renewable Energy World Editors Rolls-Royce announced that it is investing in Berlin-based start-up company Qinous GmbH, a provider of what it calls plug and play energy storage and control systems. Qinous has gained experience in the integration of battery storage and energy systems in microgrids in more than 30 projects worldwide, … Read moreRolls-Royce Invests in Plug-and-Play Energy Storage Company to Expand Microgrid Offering

MOSCOW (Reuters) – Saudi Energy Minister Khalid al-Falih said OPEC is technically able to raise oil output by 1.3 million barrels per day (bpd), the TASS news agency reported on Thursday. The minister was attending an energy forum in Moscow. TASS had earlier incorrectly reported that Falih said his own country was able to increase … Read moreOPEC able to raise oil output by 1.3 million barrels per day: TASS cites Saudi’s Falih

LONDON, Oct 4 (Reuters) – Major oil producers must take “the right steps” to ease supply concerns that have lifted crude prices to a four year-high, the head of the International Energy Agency told Reuters on Thursday. “It is now high time for all the players, especially those key producers and oil exporters, to consider … Read moreIEA boss urges oil producers to ease supply concerns

Oct 4, 2018, by Lorcan Roche Kelly (Bloomberg) Slump A government bond rout that began yesterday in the Treasury market has gone global, gripping markets from Asia to Europe. The move began yesterday after stronger-than-expected data on the U.S. economy and was bolstered by comments from Fed Chair Jerome Powell in which he said the central … Read moreFive Things to Know in World Business Today

Oct 3, 2018, by Natalie Obiko Pearson (Bloomberg) Royal Dutch Shell Plc’s commitment to invest in the largest private-sector project in Canada’s history and a new trade deal with the U.S. and Mexico show the country is open for business again. But neither are likely to help Trans Mountain, the troubled oil pipeline project that … Read moreShell LNG, Trade Deal No Help to Stalled Trans Mountain Pipeline

By Dmitry Zhdannikov and Denis Pinchuk MOSCOW (Reuters) – Global energy bosses assembled in Moscow on Wednesday said the world needed Russian gas to keep the lights on, in a clear message to U.S. President Donald Trump who has warned he may impose sanctions on Russian gas export projects. Trump’s administration, citing what it calls … Read moreGlobal energy bosses send Trump a message: world needs Russian gas

MOSCOW (Reuters) – Russia is setting records in gas pipeline exports despite U.S. pressure on Europe to reduce imports, and aims to become the world’s leading liquefied gas exporter in the next decade thanks to technology it is developing at home. Russian government officials and executives told an industry conference on Wednesday they expect Russia … Read moreRussian gas exports to boom despite U.S. pressure and rivalry

MOSCOW (Reuters) – The global oil market is well supplied and Saudi Arabia has successfully met additional demand, Saudi Energy Minister Khalid al-Falih said on Wednesday. He was speaking to reporters in Moscow, where he is due to attend an energy conference with Russian President Vladimir Putin and other influential energy officials. Falih said Saudi … Read moreSaudi’s Falih says global oil market is well supplied

Oct 3, 2018, by Serene Cheong, Anthony DiPaola and Mohammed Aly Sergie (Bloomberg) The United Arab Emirates, which has a history of talking tough on Iran while still buying its oil, appears to be taking steps to comply with looming U.S. sanctions against the Islamic Republic’s energy industry. Dubai is the U.A.E.’s main importer of … Read moreIran’s Oil Buyer and Rival, U.A.E. May Be Cracking Down on Trade

Oct 3, 2018, by Lorcan Roche Kelly (Bloomberg) Probe The New York Times published a 15,000 word report saying President Donald Trump received at least $413 million from his father, contradicting Trump’s own claims that he is a self-made billionaire who started with just a $1 million loan. The claims, many of which date back … Read moreFive Things to Know in World Business Today

By Melanie Burton MELBOURNE (Reuters) – Australia’s government expects the nation’s resource and energy exports to hit a record of A$252 billion ($182 billion) in 2018-2019, buoyed by climbing prices for commodities such as natural gas and by a weaker Australian dollar. However, the country’s Department of Industry also said in a report that the … Read moreAustralia expects resource exports to hit record $182 billion in 2018-2019

COPENHAGEN (Reuters) – Denmark has proposed a ban on the sale of new petrol and diesel cars from 2030 and hybrid from 2035, joining international efforts to promote electric-only vehicles to reduce air pollution and combat climate change. The government has previously come under fire for increasing tax on electric cars in 2016, sending sales … Read moreDenmark embraces electric car revolution with petrol and diesel ban plan

Oct 1, 2018, by Sungwoo Park, Sharon Cho and Dan Murtaugh (Bloomberg) The presence of female speakers at one of the world’s biggest gatherings of oil traders increased sharply this year. One in about five of the speakers at the annual Asia Pacific Petroleum Conference last week in Singapore was female, more than double the … Read moreMore Women, But Still Mostly Men on Podium at Top Oil Gathering

Oct 2, 2018, by Lorcan Roche Kelly (Bloomberg) Standing firm Deputy Prime Minister Luigi Di Maio said the Italian government will not retreat by even a “millimeter” (0.04 inches) from its 2.4 percent budget deficit target. His comments come after euro-area finance ministers gave the proposal a cool reception at a meeting yesterday, with head of … Read moreFive Things to Know in World Business Today

OSLO (Reuters) – Norway’s Equinor (EQNR.OL) confirmed on Monday it had agreed to buy Chevron’s (CVX.N) 40 percent stake in the Rosebank oilfield west of Scotland’s Shetland islands for an undisclosed sum, as Chevron shrinks its North Sea presence. Chevron is also looking into selling its other assets, most of which it operates, in the … Read moreEquinor buys Rosebank oilfield stake as Chevron shrinks in North Sea

MELBOURNE (Reuters) – U.S. oil and gas producer ConocoPhillips said on Monday it signed a deal to sell its 30 percent stake in the Greater Sunrise gas field to East Timor for $350 million. A delegation led by former East Timor president Xanana Gusmao and its proposed new petroleum minister Alfredo Pires signed a final … Read moreConocoPhillips sells stake in Sunrise gas field to East Timor

ALMATY (Reuters) – Energy majors developing the Karachaganak gas condensate field will pay $1.1 billion to Kazakhstan to settle a profit-sharing dispute, Kazakhstan’s Energy Ministry said on Monday. Kazakhstan and the consortium led by Shell and Eni will also amend the terms of their production-sharing agreement so that the former Soviet republic will receive a … Read moreEnergy majors to pay Kazakhstan $1.1 billion to settle Karachaganak row

(Reuters) – Canadian oil and gas producer Husky Energy Inc (HSE.TO) said on Sunday it has made an unsolicited bid to acquire rival MEG Energy Corp (MEG.TO) in a deal valued at C$6.4 billion ($5 billion) including debt. The combined company would have total production of more than 410,000 barrels of oil equivalent per day … Read moreCanada’s Husky Energy offers to buy MEG Energy in $5 billion deal

By Alex Lawler LONDON (Reuters) – OPEC delivered only a limited increase in oil production in September, a Reuters survey has found, as a cut in Iranian shipments due to U.S. sanctions offset higher output in Libya, Saudi Arabia and Angola. The 15-member Organization of the Petroleum Exporting Countries pumped 32.85 million barrels per day … Read moreOPEC oil output boost in September limited by Iran losses: Reuters survey

Sep 30, 2018, by Jared S. Hopkins and Javier Blas (Bloomberg) Donald Trump spoke on the phone Saturday with King Salman bin Abdulaziz of Saudi Arabia, days after the U.S. president’s latest criticism of OPEC over high oil prices. The pair discussed efforts to maintain supplies to ensure the stability of the oil market and … Read moreTrump Gets Oil Traders’ Attention Over Call With Saudi King

Oct 1, 2018, by Lorcan Roche Kelly and Sid Verma (Bloomberg) Not Nafta U.S. and Canadian negotiators secured agreement on a successor to the North American Free Trade Agreement ahead of a deadline at midnight yesterday. The new deal, which will be called the U.S.-Mexico-Canada Agreement, or USMCA, has few surprises in the details, and could be … Read moreFive Things to Know in World Business Today

By Bernd Debusmann Jr (Arabian Business) A report in US media said that Saudi officials are expected to unveil a broader renewable energy strategy later this month. Saudi Arabia has scrapped a $200 billion plan to build the world’s largest solar-generation project and will instead implement a broader renewable energy strategy, according to a report … Read moreSaudi Arabia said to scrap $200bn solar generation project