BERLIN—Germany will restart coal-fired power plants and offer incentives for companies to curb natural gas consumption, marking a new step in the economic war between Europe and Russia. Berlin unveiled the measures Sunday after Russia cut gas supplies to Europe last week as it punched back against European sanctions and military support for Ukraine. The … Read more
ADELAIDE, Australia—The world’s largest mining company abandoned the sale of its last thermal coal mine, and said it would aim to close the Australian pit in 2030. Despite record-high coal prices, BHP Group Ltd. said it failed to find a buyer for the Mt Arthur mine, which is one of Australia’s biggest coal operations but … Read more
Viacom18 has won streaming rights to cricket’s Indian Premier League, according to people familiar with the situation, taking a valuable property away from Walt Disney Co. DIS -3.71% as competition in sports-streaming rights intensifies. The winning bid from Viacom18, a joint venture between Paramount Global, PARA -8.12% Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. 500325 … Read more
TotalEnergies CEO Patrick Pouyanné, wearing glasses, and Qatari Minister of Energy Saad Sherida Al-Kaabi met at QatarEnergy headquarters in Doha, Qatar, on Sunday. Photo: karim jaafar/Agence France-Presse/Getty Images Qatar tapped French oil giant TotalEnergies SE TTE -2.43% as its first foreign partner in a $30 billion liquefied natural gas project, as the Persian Gulf emirate … Read more
MONTERREY, Mexico—For the past 20 years, a 1,100-megawatt power plant owned by Spain’s Iberdrola SA outside Mexico’s industrial capital has kept the lights on for scores of companies such as brewing giant Heineken NV, despite winter freezes, a hurricane and the occasional brush fire. But since January, half the gas-fired plant has been forcibly shut … Read more
As U.S. gasoline prices approach a record average of $5 a gallon, fuel costs are rippling through almost every corner of business, with signs emerging that the rising expenses are beginning to alter consumer behavior. The price of regular gasoline averaged about $4.986 on Friday, up around 22 ½ cents from the prior week and … Read more
PARIS—French prosecutors are investigating disclosure of safety issues at a nuclear-power plant run by EDF SA, EDF 6.32% the latest setback for the electricity giant as Europe struggles with high energy prices in the wake of Russia’s invasion of Ukraine. Prosecutors in Marseille opened the investigation last month, following a complaint from a former top … Read more
Seeking to resolve a conflict in the solar industry, the White House plans to waive some tariffs on solar imports to ensure steady supplies while invoking the Defense Production Act to boost domestic manufacturing of solar parts. “It is going to put wind in the sails of construction projects all across the country,” a senior … Read more
Russia is still finding a home for much of its oil despite expanding sanctions, but its production likely will diminish following the departure of western oil companies, Chevron Corp. CVX 0.91% Chief Executive Mike Wirth said. In a meeting with Wall Street Journal reporters and editors this week, Mr. Wirth noted that many countries continued … Read more
WASHINGTON—The Biden administration on Friday retroactively reduced the amount of ethanol that must be blended into gasoline for 2020 and 2021 but raised the level for 2022, saying the changes are aimed at helping boost domestic fuel supplies. Environmental Protection Agency Administrator Michael S. Regan said that the decision will reduce U.S. reliance on oil … Read more