Peru's finance minister said on Wednesday the country's leftist government has no plans to take over the natural gas industry, in an attempt to calm fears after President Pedro Castillo talked about nationalization earlier in the week. "To nationalize the gas means to put it in the service of all Peruvians," Finance Minister Pedro Francke said in a tweet.
The U.K. energy sector on Wednesday committed to deliver a net zero power generation system in the 2030 s. A few days before the COP26 climate change conference starts in Glasgow, British companies represented by industry association Energy UK have pledged to tackle the remaining 12% share of the U.K.' s emissions that come from generating electricity. According to the British government, power stations generated 50.1 million metric tons out of the total 414.1 million tons of...
Peru's socialist president, Pedro Castillo, urged Congress on Monday to draft a bill for the "nationalization" of Peru's natural gas sector, undoing previous statements in which he said he would not seek to nationalize parts of the economy. In remarks broadcast on government-owned TV Peru, Castillo said he wanted "to draft a joint bill with Congress regarding the nationalization of."
TOKYO--Japanese oil-and-gas industry executives on Thursday called on the government to support further investment in the industry, citing short supplies. The Japanese government said it has secured additional power supplies for January and February but has a slim buffer if the winter is colder than usual. The Tokyo area's capacity margin is projected at above 3% in the first two months of 2022, the tightest projection in a decade, according to Japan's Organization for...
Big oil is back. After enduring a near-death experience during the COVID crisis when demand plummeted and being distinctly off-trend as the sustainable investing wave engulfed Wall Street, cash-rich oil companies are again a sweet spot for fund managers.
- Dealmaking in the U.S. oil and gas industry in the third quarter of 2021 fell from a two-year high in the previous quarter, according to data analytics firm Enverus on Tuesday, as the industry cools from post-pandemic consolidations and focuses on selling off non-core assets.
China said on Tuesday it will allow coal-fired power plants to charge some customers market-driven prices for electricity, as a worsening energy crisis persuaded authorities to rush through their boldest reform of the power sector in decades.
* U.S. stocks firm as surging oil leads materials, energy shares higher, stokes inflation risk. * Dollar reaches highest on yen since late 2018. By Koh Gui Qing. Oil prices surged on Monday to multi-year peaks, boosting U.S. materials and energy stocks, but fears that rising prices would exacerbate supply-chain snags caused Wall Street to give up early gains.
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E. * Oil leads energy complex higher, stokes inflation risk. * Dollar reaches highest on yen since late 2018. By Koh Gui Qing and Tom Arnold. Oil prices surged again on Monday to multi-year peaks, giving a fillip to materials and energy shares and helping U.S. stocks to reverse early declines as investors looked past stagflation risks for now.
Oil prices surged on Monday to multi-year peaks, boosting U.S. materials and energy stocks, but fears that rising prices would exacerbate supply-chain snags caused Wall Street to give up early gains. Higher vaccination rates against the coronavirus have supported a revival in economic activity, helping Brent prices to gain for five weeks and U.S. crude for seven.
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