Italy’s Eni signs $8 billion Libya gas deal as PM Meloni visits Tripoli

ROME/TRIPOLI, Jan 28 (Reuters) – Italian energy company Eni and Libya’s National Oil Corporation (NOC) signed an $8 billion gas production deal on Saturday aimed at boosting energy supplies to Europe despite the insecurity and political chaos in the North African country. The deal, signed during a visit to Tripoli by Italy’s Prime Minister Giorgia … Read more

NYSE glitch leads to busted trades, prompts investigation

NEW YORK, Jan 24 (Reuters) – A glitch at the New York Stock Exchange prevented the opening auctions for a slew of stocks on Tuesday, prompting widespread trading halts, confusion over whether orders were being filled at correct prices, and trades in more than 250 securities being busted. The NYSE, which is owned by Intercontinental … Read more

Oil prices firm on China demand optimism

LONDON, Jan 26 (Reuters) – Oil prices rose 1% on Thursday on expectations that demand will strengthen as top oil importer China reopens its economy and on news US crude inventories have risen less than expected. Brent crude futures rose 78 cents, or 0.9%, to $86.90 a barrel by 1046 GMT. US West Texas Intermediate … Read more

Europe Inc earnings offer market optimists more hope

LONDON, Jan 25 (Reuters) – Earnings from major European companies on Wednesday offered some reasons for optimism about the region’s corporate health, even as investors worry about the slowing global economy. Fourth-quarter earnings from ASML Holding NV (ASML.AS) exceeded expectations and the Dutch technology company, Europe’s largest, forecast a rise of more than 25% in … Read more

Wall Street surges, powered by tech rebound

Baker Hughes falls on missing Q4 profit estimates Activist investor Elliott Management takes stake in Salesforce Chips on track for biggest daily gain since Nov Indexes up: Dow 0.98%, S&P 1.41%, Nasdaq 2.09%, NEW YORK, Jan 23 (Reuters) – Wall Street surged on Monday, led higher by technology stocks as investors embarked on an earnings-heavy … Read more

Oil prices hit 7-week high on stronger China outlook

Brent, US crude hit highest since early December G7 seeks two price caps for Russian oil products India’s crude imports hit 5-month high in December NEW YORK, Jan 23 (Reuters) – Oil prices rose by around 1% on Monday to a seven-week high, extending last week’s gains on the back of a stronger outlook thanks … Read more

The EU’s planned reforms aim to better protect power bills from market swings

The EU Commission opens public consultation ahead of reform Seeks to avoid link to expensive gas as price setter Analysts think reform is going in the right direction Proof will be in implementation, uptake by operators BRUSSELS, Jan 23 (Reuters) – European Union proposals to overhaul its electricity market will attempt to better protect consumer … Read more

Canada’s energy jobs transition bill sparks discord in oil heartland

Jan 22 (Reuters) – In Canada’s western oil patch, controversy is raging over federal government legislation intended to help the fossil fuel labor force transition to a greener economy, but union and community leaders are warning politicization of the Just Transition bill obscures the needs of workers. Prime Minister Justin Trudeau’s Liberal government is expected … Read more

Pakistan suffers big power outage after second grid failure in three months

ISLAMABAD, Jan 23 (Reuters) – Pakistan’s national grid suffered a major breakdown on Monday, the power ministry said, leaving millions of people without electricity for the second time in three months and highlighting the infrastructural weakness of this heavily indebted nation. Energy Minister Khurrum Dastagir told Reuters the outage was caused by a large voltage … Read more

UK’s National Grid to pay people to use less power amid cold snap

LONDON, Jan 23 (Reuters) – Britain’s National Grid (NG.L) said it would pay customers to use less power on Monday evening and that it had asked for three coal-powered generators to be warmed up in case they are needed as the country faces a snap of cold weather. The group said that it would activate … Read more