Exxon sues EU in move to block new windfall tax on oil companies

Exxon sues EU in move to block new windfall tax on oil companies

Dec 29 (Reuters) – U.S. oil major Exxon Mobil Corp (XOM.N) is suing the European Union in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy. Record profits this year by oil companies benefiting from high energy prices have … Read more

Storm cuts U.S. oil, gas, power output, sending prices higher

Storm cuts U.S. oil, gas, power output, sending prices higher

Dec 23 (Reuters) – Frigid cold and blowing winds on Friday knocked out power and cut energy production across the United States, driving up heating and electricity prices as people prepared for holiday celebrations. Winter Storm Elliott brought sub-freezing temperatures and extreme weather alerts to about two-thirds of the United States, with cold and snow … Read more

Gazprom: gas supplied in full, bypassing damaged Russian export pipeline

Gazprom: gas supplied in full, bypassing damaged Russian export pipeline

This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. MOSCOW, Dec 20 (Reuters) – A local unit of the Russian energy giant Gazprom (GAZP.MM) said on Tuesday that gas was being supplied to customers in full via parallel pipelines following a fatal explosion in a section of … Read more

Keystone cleanup turns remote Kansas valley into a small town

Keystone cleanup turns remote Kansas valley into a small town

WASHINGTON, Kan., Dec 18 (Reuters) – Farmer Bill Pannbacker got a call earlier this month from a representative from TC Energy Corp , telling him that its Keystone Pipeline, which runs through his farmland in rural Kansas, had suffered an oil leak. But he was not prepared for what he saw on his land, which … Read more

California offshore wind auction bids top $460 mln on day two

California offshore wind auction bids top $460 mln on day two

Dec 7 (Reuters) – The first ever auction of offshore wind development rights off the coast of California entered its second day on Wednesday, with high bids topping $460 million. The Biden administration’s sale is a major milestone in the its goal to put turbines along every U.S. coastline and a critical test of developer … Read more

EU tentatively agrees $60 price cap on Russian seaborne oil

EU tentatively agrees $60 price cap on Russian seaborne oil

BRUSSELS, Dec 1 (Reuters) – European Union governments tentatively agreed on Thursday on a $60 a barrel price cap on Russian seaborne oil – an idea of the Group of Seven (G7) nations – with an adjustment mechanism to keep the cap at 5% below the market price, according to diplomats and a document seen … Read more

Qatar seals 27-year LNG deal with China as competition heats up

Qatar seals 27-year LNG deal with China as competition heats up

Talks with other Chinese, European buyers ongoing -Kaabi Says buyers may take up to a 5% stake in expansion Says deal signals importance of secure long-term supply DOHA, Nov 21 (Reuters) – QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas in the longest such LNG agreement to date as … Read more

Nord Stream leaks confirmed as sabotage, Sweden says

Nord Stream leaks confirmed as sabotage, Sweden says

Sweden says damage to Nord Stream pipes was “gross sabotage” Traces of explosives found at site during investigations Further probe will determine if any suspects can be identified STOCKHOLM, Nov 18 (Reuters) – Investigators have found traces of explosives at the site of the damaged Nord Stream gas pipelines, confirming sabotage had taken place, a … Read more

Lula’s honeymoon with Brazil markets ends amid spending plan fears

Lula’s honeymoon with Brazil markets ends amid spending plan fears

BRASILIA, Nov 10 (Reuters) – Brazilian President-elect Luiz Inacio Lula da Silva’s brief honeymoon with financial markets looked finished on Thursday, as he pushed for more room to grow social spending without setting long-term fiscal rules or naming his top economic policymakers. Brazil’s currency and benchmark Bovespa stock index (.BVSP), which rose last week as … Read more

Glencore employees moved bribes cash by private jet, London court told

Glencore employees moved bribes cash by private jet, London court told

LONDON, Nov 2 (Reuters) – Employees and agents of a British subsidiary of mining and trading group Glencore (GLEN.L) used private jets to transfer cash to pay bribes to oil officials in West Africa, prosecutors told a London court on Wednesday. Glencore Energy UK Limited paid – or failed to prevent the payment of – … Read more