Geared turbines said to be cheaper than direct drive rivals and the wind power industry is facing severe cost pressures. Vestas is betting on geared wind turbine technology to meet the ambitious profit-margin target it promised when it reported quarterly results on Wednesday…
Oil and gas driller Patterson-UTI Energy Inc, dealing with the fallout of a drilling accident that killed five workers last month, reported a bigger-than-expected quarterly loss on Thursday as expenses more than doubled.The accident at an…
Two employees of Brightoil Petroleum (Singapore) Pte Ltd were charged in court in the city-state this week for their alleged involvement in the theft of marine fuel on board a company barge, a company executive said in a statement on Thursday…
Statoil's U.S. operations have turned the corner and could deliver up to $5 billion in net cash flow over the 2018-2020 period at an oil price of around $70 a barrel, Torgrim Reitan, Statoil's head of U.S. operations said on Wednesday.'As…
India will auction 60 discovered small oil and gas fields with the potential to produce 194.65 million tonnes of oil and oil equivalent gas, the government said in a tweet after a cabinet meeting.Blocks that will be auctioned were originally…
International oil major Royal Dutch Shell's Russian business felt minimal impact from Western sanctions on Russia, the branch's head Sergey Starodubtsev said on Wednesday, adding the firm was fully compliant with international law. Shell Neft…
British oil and gas company BP will increase investment in the United States after the lowering of tax rates under President Donald Trump, Chief Executive Bob Dudley said on Tuesday. 'It is important for us, there is no doubt we will increase investments…
Sweden will invest 146 million crowns ($18 million) in a multibillion-euro project to build Europe's biggest battery cell plant in the north of the country, its Energy Agency said on Monday. Swedish company Northvolt, whose CEO Peter Carlsson used to work for Tesla…
China's support for Venezuela has benefited ordinary people and been broadly welcomed, the foreign ministry said on Monday after the U.S. Treasury accused China of aiding Venezuelan President Nicolas Maduro's government with murky oil-for-loan investments…
Exxon Mobil Corp and Chevron Corp posted rare quarterly earnings misses on Friday as cost cuts and rising oil prices failed to offset weakness in international refining operations, sending shares of both companies plunging. Investors were…
Unipec, the trading arm of Asia's largest refiner Sinopec, has hired veteran crude oil trader Lee Yee Meng, who will join its office in Hong Kong in May, trade sources familiar with the matter said on Friday. Lee left Trafigura Singapore…
Japanese LNG imports reach 8.7 mln T in January, pressuring regional LNG market with China also hoovering up cargoes. Japanese imports of liquefied natural gas (LNG) hit their highest in at least five years in January, with shipments expected…
Saudi Aramco, the state oil company of Saudi Arabia, is considering entering India as part of its Asian expansion, Nikkei said on Tuesday, citing Aramco's CEO who said that plans for an Indian refinery are crystallising. 'Saudi Aramco is looking at additional investments in China…
Engie has closed a deal to acquire Brazilian energy efficiency company ACS, the French energy group told Reuters on Friday without specifying the value. ACS offers services like remote monitoring of energy consumption, as well as water, temperature and gas monitoring…
U.S. crude, gasoline inventories climb as traders take put options to sell crude. Brent oil prices eased on Wednesday, under pressure from a rise in U.S. crude and gasoline inventories although crude prices remained near three-year highs…
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