Oil Rally Continues Despite Bearish API Data
Crude futures continued to rally in Europe, although Tuesday's API data showed a far bigger increase in U.S. inventories than the market expected, highlighting the divergence between expectations for the market this year and next.
Big Oil's Lessons for the New Green Supermajors
The decline of oil and gas supermajors over the past two years has been matched by the rise of previously obscure utility companies. In Europe, Enel and Iberdrola have emerged as green-energy giants, in part by taking leaves out of the big-oil playbook.
Tullow Oil to Focus on West Africa
Tullow Oil said it will focus 90% of future investments on West Africa and expects its new strategy to generate around $7 billion of operating cash flow over the next decade.
Europe's Biggest Utility Company to Ramp Up Spending on Wind, Solar Power
Enel plans to spend around $83 billion expanding its presence in wind and solar power in the coming decade, seeking to cement its position as the world's largest renewable energy producer outside China and capitalize on the shift to green energy.
Analysts Expect Small Withdrawal From Natural-Gas Storage
Government data due Wednesday are expected to show that U.S. natural-gas inventories decreased last week by a smaller-than-normal 8 billion cubic feet as unseasonably warm weather hurt demand.
New Energy Capital Sees Renewable-Energy Incentives Gaining Under Biden
New Energy Capital Partners expects President-elect Joe Biden to give a boost to the renewable energy sector by extending incentives just as the private-equity firm seeks to invest a $500 million credit fund focused on the sector.
Sasol Divests Texas-Based Gemini
Sasol has agreed to sell its 50% stake in Texas-based polyethylene business Gemini for $404 million, in its latest move to focus on specialty chemicals and reduce debt.
CFTC Report on Negative Oil Prices Leaves Key Questions Unanswered
A long-awaited Commodity Futures Trading Commission report into the collapse of crude-oil futures to minus $40 a barrel in April has declined to identify a reason for the crash, prompting criticism from one of the agency's own commissioners.
GM Stops Backing White House in Emissions Fight With California
General Motors will no longer back the administration in its legal battle to strip California's authority to set its own fuel-efficiency regulations, saying GM's goals for green cars are aligned with the state and the new Biden administration.
Asia's Hydrogen Fuel Future May Be Coalescing
There is still a long way to go for hydrogen to justify the hype as the next big thing in transportation. But Asia may hold the key to any eventual success.
(END) Dow Jones Newswires