Latest Energy industry News

Live updates | NATO to boost reaction force, Ukraine support

Jun. 27, 2022 07:59 AM EDT

ELMAU, Germany (AP) — The Latest on the G-7 summit, the annual meeting of the leading democratic economies, which this year is being held in the Bavarian Alps in Germany; and on the summit of NATO leaders that will start on Tuesday in Madrid: NATO secretary general Jens Stoltenberg...

Sri Lanka sends 2 ministers to Russia for oil amid crisis

Jun. 27, 2022 06:14 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka is sending two government ministers to Russia to negotiate for fuel — one of the necessities nearly exhausted amid the Indian Ocean island nation's economic collapse. The development comes as Washington and its allies aim to cut off energy...

EU countries adopt mandatory gas storage amid Russia's cuts

Jun. 27, 2022 06:09 AM EDT

BRUSSELS (AP) — European Union countries agreed Monday that all natural gas storage in the 27-nation bloc should be topped up to at least 80% capacity for next winter as they prepare for the possibility of Russia further reducing deliveries. The EU is trying to slash its use of...

Cyberattack forces Iran steel company to halt production

Jun. 27, 2022 05:11 AM EDT

DUBAI, United Arab Emirates (AP) — One of Iran's major steel companies said on Monday it was forced to halt production after being hit by a cyberattack, apparently marking one of the biggest such assaults on the country's strategic industrial sector in recent memory. The...

Tokyo warned of power crunch as Japan endures heat wave

Jun. 27, 2022 04:56 AM EDT

TOKYO (AP) — People in Tokyo are sweating it out as the government warns of possible power shortages and urges greater efforts to conserve energy while Japan endures unseasonably hot temperatures. Weather officials announced the earliest end to the annual summer rainy season since...

Australian data: Greenhouse gas emissions rose in 2021

Jun. 27, 2022 03:48 AM EDT

CANBERRA, Australia (AP) — Australia’s new government on Monday blamed the previous administration’s inaction on climate change for an increase in the nation’s greenhouse gas emissions last year. Australia emitted 488 million metric tons (538 million U.S. tons) of carbon...

Ecuador president cuts gasoline price amid Indigenous strike

Jun. 27, 2022 00:24 AM EDT

QUITO, Ecuador (AP) — Ecuadorian President Guillermo Lasso announced a cut in gasoline prices Sunday that appeared to fall short of the reduction demanded by Indigenous leaders to end a strike that has paralyzed parts of the country for two weeks. The reduction cuts the price of...

French energy giants: Reduce fuel and electricity use now

Jun. 26, 2022 20:48 PM EDT

PARIS (AP) — Leaders of three French energy companies called on the French public Sunday to immediately reduce consumption of fuel, oil, electricity and gas amid shortages and soaring prices due to Russia’s supply cuts and the war in Ukraine. “The effort must be immediate,...

Biden urges Western unity on Ukraine amid war fatigue

Jun. 26, 2022 16:41 PM EDT

ELMAU, Germany (AP) — President Joe Biden and Western allies opened a three-day summit in the Bavarian Alps on Sunday intent on keeping economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russia’s aggression. Britain’s Boris Johnson warned the...

Average US gasoline price drops 4 cents to $5.05 per gallon

Jun. 26, 2022 16:15 PM EDT

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline fell by 4 cents per gallon in the past two weeks to $5.05 for regular grade, it was reported Sunday. It was the first drop in nine weeks and came with a drop in oil prices amid deepening global inflation...