Oil Edges Lower as Pace of OPEC Supply Cuts Slows
Oil prices fell, pulling back from four-month highs as analysts weighed more signs that the pace of OPEC's production cuts is slowing as crude prices extend their 2019 rebound.
U.S. Oil-Rig Count Falls for Fourth Straight Week
The number of rigs drilling for oil in the U.S. edged down by one this week to a 10-month low of 833, Baker Hughes reported, marking the fourth week in a row that the number of oil rigs fell.
Russian Tycoon Deripaska Sues U.S.
Russian aluminum tycoon Oleg Deripaska sued the Trump administration over sanctions it imposed on him and his companies last year, claiming it made false allegations based on rumor to support the sanctions.
Fires in Venezuela's El Guri Complex Could Have Sparked Blackout
Fires within Venezuela's heavily-fortified El Guri hydroelectric complex could have triggered the massive blackout that plunged the nation into darkness last week, according to an analysis of thermal conditions along transmission lines by Venezuelan industry experts and U.S.-based researchers.
Equinor Raises Renewable Energy Production, Meets Intensity Goal
Equinor said that its production of renewable energy rose in 2018, while its carbon intensity was unchanged from 2017, in line with the company target.
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.
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.