Energy News

LONDON/NEW YORK (Reuters) - BP will pay $7 billion to Devon Energy for assets that will extend its reach into Brazil and bulk up its position in the Gulf of Mexico, as the world's top oil companies look to acquisitions to refill depleting reserves.

MOSCOW (Reuters) - Russia is considering inviting India's state-run Oil and Natural Gas Corp to develop oil and gas fields in Russia, the government said on Thursday, ahead of Prime Minister Vladimir Putin's visit to India.

LONDON (AFP) - Oil giant BP said Thursday it will pay US firm Devon Energy $7 billion (£4.7 billion) for assets in Brazil, Azerbaijan and the Gulf of Mexico.

LONDON (AFP) - Oil giant BP said Thursday it will pay US firm Devon Energy $7 billion (£4.7 billion) for assets in Brazil, Azerbaijan and the Gulf of Mexico.

WASHINGTON (AFP) - The United States could source 10 percent of its electricity from solar power by 2030, a report said Tuesday, winning support from a US lawmaker who wants to boost the number of US solar panels.

NEW DELHI (Reuters) - The government has no immediate plans to sell stake in state-run Oil and Natural Gas Corp (ONGC) and Indian Oil Corp (IOC), Oil Secretary S. Sundareshan told reporters on Wednesday.

The fate of President Obama's plan to shift America toward renewable energy and away from fossil fuels may depend on the outcome of a crucial White House meeting Tuesday with 14 key senators, many from coal- and oil-producing states, who have long opposed curbs on carbon emissions.

MOSCOW (Reuters) - Russian Premier Vladimir Putin will offer a traditional cocktail of arms and oil deals when he travels to India on Thursday to persuade a Cold War ally to buy new weapons amid rising competition with the United States.

MUMBAI (AFP) - Indian energy giant Reliance Industries will look for other global acquisitions after being snubbed by Rotterdam-based takeover target LyondellBasell, a company source told AFP Tuesday.

SYDNEY (AFP) - Royal Dutch Shell and PetroChina joined forces for a 2.96 billion US dollar bid for Australia's Arrow Energy on Monday, hoping for a bigger slice of the country's booming liquefied natural gas (LNG) sector.

SANTA FE, N.M. - Two national laboratories, the state of New Mexico and a Japanese agency are developing smart grid technology to give homeowners and businesses more access to renewable energy sources by controlling the supply and demand of electric power.

CHEYENNE, Wyo. - An Interior Department announcement Friday that it won't list sage grouse as an endangered or threatened species opens the way for continued development of the West's wind energy and oil and gas industries.

WASHINGTON (AFP) - US officials Friday stopped short of giving endangered species status to the sage grouse, an iconic bird that is at the center of a dispute over oil drilling in the western United States.

SAVANNAH, Georgia (AFP) - President Barack Obama on Tuesday unveiled plans to give hefty reimbursements to US homeowners who make home improvements designed to conserve energy.

The last best hope to get a climate-energy bill through Congress this year may be to drop long-held "cap-and-trade" plans for an economy-wide price on carbon emissions and instead target just the utility, transportation, and industry sectors of the economy.

TEL AVIV, Israel - A U.S. energy company announced Tuesday that a project it is developing off the Israeli coast could soon end the country's longtime dependence on natural gas imports.

LONDON (AFP) - BP said on Tuesday it will aim to cut more costs to improve its profitability over the next two or three years.

TOKYO (AFP) - Iraqi Oil Minister Hussein al-Shahristani has said that talks over a huge oil development deal with a Japanese energy consortium had broken down, a leading Japanese newspaper reported Tuesday.

RIYADH (AFP) - Prime Minister Manmohan Singh's visit to oil and regional powerhouse Saudi Arabia has been underpinned by India's thirst for energy, and its need to battle radical Islamists.

RIYADH (Reuters) - India said it expects its economy to rebound to 9-percent annual growth rates within two years and wants to expand its energy ties with top OPEC exporter Saudi Arabia to help fuel the recovery.

TAIPEI (AFP) - Germany-based InfraVest, the largest private wind power company in Taiwan, said Friday it will withdraw from the island because it does not have confidence in the government's energy policies.

Just prior to an explosion that killed six workers and injured 27 at a Kleen Energy power plant in Middletown, Conn., earlier this month, a huge amount of natural gas was vented out of doors, but into a “congested area” between buildings.

KOROR (AFP) - Leaders of eight Pacific nations responsible for a quarter of the world's tuna catch vowed Thursday to conserve stocks of the fish and increase their own financial return from the lucrative industry.

KIEL, Germany (AFP) - A skipper hoping to become the first to sail round the world using solar power said his catamaran could carve a wake for pollution-free shipping as he unveiled the record-breaking yacht Thursday.

SAN JOSE, California (AFP) - Stealth start-up Bloom Energy on Wednesday publicly unveiled an innovative fuel cell that promises to deliver affordable, clean energy to even remote corners of the world.

UNITED NATIONS (AFP) - Argentine Foreign Minister Jorge Taiana pressed UN chief Ban Ki-moon to intervene in an ongoing row over oil drilling by a British firm in waters off the disputed Falkland Islands.

San Francisco - The veil has been lifted on Bloom Energy, the secretive energy start-up that has been quietly installing its fuel-cell servers that promise cleaner and cheaper energy at some of Silicon Valley’s biggest businesses

ABU DHABI (AFP) - China has surpassed the United States, long the top importer of Saudi oil, in short-term average daily imports from the petroleum-rich Gulf kingdom, US Secretary of Energy Steven Chu said Wednesday in Abu Dhabi.

NEW DELHI (Reuters) - The state-run Oil and Natural Gas Corp (ONGC) is pushing to strengthen its presence in Africa and Latin America but is less interested in Canadian oil sands for now, its chairman said.