Tag Archives: Bloomberg News Agency

U.S. crude futures hit their highest level in more than two years after the OPEC+ alliance forecast a tightening global market ahead of a production policy meeting. West Texas Intermediate rose as much as 2.6% from Friday’s close to $68.04 a barrel. Global benchmark Brent topped $70 earlier Tuesday. The …

Germany’s plans to phase out coal and nuclear power will leave a large gap in supplies of electricity that’s likely to be filled by natural gas. Germany will need to add about 18 gigawatts or 60% more gas-fired capacity to plug the hole left from shutting its six remaining nuclear …

BP Plc has started a recruitment campaign for the people who will drive its expanding clean energy ambitions. The London-based oil and gas company is looking to fill 100 offshore-wind jobs in the U.K. and the U.S., a figure which could double by the end of the year. The recruitment …

Ours is a global society accustomed to eternal debate and marginal change distributed over many years. But it won’t do in the era of climate change. That’s the message of the International Energy Agency’s “Net Zero by 2050” report. The energy transition, the historically staid body says, is an all-hands-on-deck …

North America’s biggest petroleum pipeline is in a race against time to overcome a cyberattack that’s frozen fuel shipments before regional reserves of gasoline, diesel and jet fuel run dry. Colonial Pipeline said segments of its Texas-to-New Jersey line are being brought back online in steps, and substantially all service …

Norway is trying to make its dirtiest industry as clean as possible. The multi-billion-dollar plan will do little to reduce the nation’s overall climate impact. The Nordic country will use land-based green hydropower to electrify dozens of offshore oil and gas platforms. That will help meet national climate targets, and …

Google’s moving forward with its goal of becoming carbon-free by the end of the decade after AES Corp. agreed to supply the tech giant with renewable energy to power its data centers in Virginia. AES, an international power plant developer, said the deal will result in the construction of 500 …

Oil rose toward $67 a barrel as weaker demand from virus-ravaged India partially offset optimism over the global economic recovery. Brent crude edged higher after most-active prices rose almost 6% last month. April sales of gasoline in India fell to the lowest since August, while those for diesel were the …

OPEC and its allies projected a strong recovery in global oil demand this year, but the outlook was clouded by a raging virus outbreak in India just days before the group’s next meeting. A committee of technical experts from the group forecast that world oil consumption will rebound by 6 …

China Three Gorges Renewables Group Co. is set for an initial public offering that could be the biggest in the country this year after securing regulatory approval. The unit of China Three Gorges Corp. plans to sell up to 8.57 billion shares in Shanghai, it said in a prospectus filed …