News Highlights : Top Energy News of the Day
Oil Prices Hit 2019 High as U.S. Sanctions Bite
U.S. oil prices rose to their highest level of the year as U.S. sanctions on both Venezuela and Iran begin to put a tighter squeeze on global oil supplies.
Royal Dutch Shell Sets First Short-Term CO2 Target
Royal Dutch Shell said it aims to cut its net carbon footprint by up to 3% by 2021, compared with 2016, as it works toward meeting its goal of halving its greenhouse gas emissions by 2050.
Natural Gas Prices Climb on Large Drop in U.S. Inventory
Natural-gas prices rose modestly after a gas storage report showed a large decline in U.S. inventories last week that was expected due to cold weather.
BNP Paribas Fund Arm to Limit Coal Investment
BNP Paribas Asset Management, the fund arm of BNP Paribas SA, will stop investing in companies that derive more than 10% of their revenue from mining thermal coal or account for more than 1% of total global coal production, it said.
OPEC Slows Pace of Production Cuts
OPEC continued to cut its crude-oil production in February but at a significantly reduced rate than the month prior and well-below the group's pledge to the market, the oil-cartel said.
Shipping Companies Banking on Gas Carriers as LNG Demand Grows
LNG business has been a small piece of the global tanker market for many years, but trade in natural gas is on a sharp upswing as energy producers look for cleaner sources of power to replace oil and coal.
RWE Cautious After Profit Drop
RWE reported a sharp drop in full-year net profit to EUR335 million and gave a muted outlook for the year ahead, but said it would raise its dividend.
PG&E Bankruptcy Financing Stumbles on Worries About More Fires
The judge presiding over the bankruptcy of PG&E Corp. is worried that another year of wildfires could upend the utility's efforts to pull out of massive financial and legal trouble.
BP Moves to Lower Methane Emissions in Supply Chain
BP said it will work with U.S. advocacy group Environmental Defense Fund to lower methane emissions in its supply chain over the next three years.
How GE Built Up and Wrote Down $22 Billion in Assets
After General Electric bought Alstom's power business in 2015, it made some puzzling decisions by adding and keeping some of the goodwill on its books that later was erased by the company's giant write-down.