British Gas offers free electricity at weekendsBritish Gas is to offer free electricity for eight hours at weekends to two million customers who have smart meters installed.Customers will be able to choose to use the free power either on Saturday or Sunday, between 9am and 5pm.British Gas said consumers should see savings of about £ 60 a ...
OPEC fails to agree policy but Saudis pledge no shocksOPEC failed to agree a clear oil-output strategy on Thursday as Iran insisted on steeply raising its own production, though Tehran`s arch-rival Saudi Arabia promised not to flood the market and sought to mend fences within the organization.Tensions between the Sunni-led kingdom and the Shi`ite ...
Canada wildfire: Oil workers urged to leave Fort McMurray campsAround 12,000 people have been urged to leave Canada`s oil sands camps near the fire-hit town of Fort McMurray as a resurgent wildfire heads towards them.A regional official told the BBC that 8,000 people were given precautionary evacuation orders late on Monday, in addition to some 4,000 who had ...
Oil prices rise on Nigeria outages, Goldman forecastOil prices jumped over 2 percent on Monday to their highest since November 2015 on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit.Brent crude futures were trading at $48.83 per barrel ...
Tesla Powerwalls for Home Energy Storage Are Hitting U.S. MarketTo Steve Yates, the best thing about his new Tesla Powerwall is that he doesn&rsquo t have to worry anymore about the lights going out during a storm. Or maybe it&rsquo s how cool an addition it is to the entryway of his house in Monkton, Vermont. I&rsquo ve always wanted to have a backup power ...
Oil jumps to 2016 highs as dollar drops on Fed decisionOil prices jumped about 3 percent on Wednesday, hitting new highs for 2016 as the dollar weakened after the Federal Reserve announced it would leave U.S. interest rates unchanged.Oil had risen early, the day after an industry group said U.S. crude inventories had dropped in the latest week. But ...
Should we be regulating energy pricesThe UK`s competition watchdog has detailed how it intends to fix our energy market.It has published its "provisional decision on remedies" - the details of how it will put right what has gone wrong for consumers in recent years.It`s a huge moment for an industry that has been in the firing line ...
Energy price slump keeps eurozone in deflationConsumer prices in the eurozone fell for the second month running in March thanks again to falling energy prices.Prices were 0.1% lower than a year ago.The figure was a small improvement on February, when deflation was running at 0.2%, but it maintains pressure on the European Central Bank (ECB) to ...
Oil price `may have bottomed out`There is evidence that oil prices are stabilising and could even begin to rise again, the International Energy Agency (IEA) has said.It said lower oil output in the US and other countries was helping to curb the glut in the supply of oil.The increase in supply from Iran has also been less dramatic ...
Shell shares up as it confirms 10,000 job cuts and falling profitsRoyal Dutch Shell shares rose after it confirmed it would cut 10,000 jobs and a sharp fall in annual profits.Shell extended gains to 7% as it said it made $1.8bn (£ 1.23bn) for the fourth quarter, compared with a $4.2bn profit for the same period the year before.Full-year earnings have seen ...
Oil rises after Russia says open to OPEC meetingOil rose on Wednesday after Russia repeated its willingness to take part in talks with OPEC producers to cut output and boost prices, although analysts said rising U.S. crude inventories could put a brake on a bigger rally.Russian Foreign Minister Sergei Lavrov said if there is consensus among the ...
BP shares plunge as profits halveShares in BP have ended the day almost 9% lower after it reported that annual profits had more than halved.The oil giant said its profits had fallen by 51% to $5.9bn (£ 4.1bn), compared with $12.1bn in 2014 following a dramatic slide in oil prices.BP was the biggest faller on the FTSE 100, ...
Oil prices fall 5% on China data, OPEC uncertaintyOil fell about 5 percent on Monday as weak economic data from China, the world`s largest energy consumer, weighed on prices and an OPEC source played down talk of an emergency meeting to stem the decline.China`s manufacturing sector contracted at the fastest pace since 2012 in January, adding to ...
No Saudi proposal to cut oil production 5%: DJ, citing Gulf OPEC sourcesSaudi Arabia has not proposed a 5 percent oil production cut, according to Thursday reports, after earlier headlines indicated it would do so in order to support weak oil prices.Russian Energy Minister Alexander Novak said on Thursday that Saudi Arabia had proposed oil production cuts of up to 5 ...
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