It is now the continent’s largest supplier of natural gas, and last year the country’s energy earnings jumped $100 billion.
Category: Natural Gas
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As Oil Companies Stay Lean, Workers Move to Renewable Energy
The New York Times – Business:Solar, wind, geothermal, battery and other alternative-energy businesses are adding workers from fossil fuel companies, where employment has fallen.
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BASF to Cut 2,600 Jobs After a Year of High Energy Costs
The New York Times – Business:The German chemical giant blamed a drop in profits on stubbornly high natural gas prices and shifting global demand.
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Europe Has Weathered an Energy Crisis, for Now
The New York Times – Business:Worries about gas and oil supplies have greatly eased. But reverberations from the war in Ukraine continue to cloud longer-term forecasts.
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European Natural Gas Price Falls to Lowest Level Since 2021
The New York Times – Business:Europe may have avoided the worst-case economic scenario envisioned after the invasion of Ukraine, thanks to a dramatic drop in energy prices.
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BP, in a Reversal, Says It Will Produce More Oil and Gas
The New York Times – Business:The company said global concerns about energy security prompted the change, as it reported record profits for 2022.
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Shell’s Profit Soared to $42 Billion in 2022
The New York Times – Business:The record haul, pushed by high energy prices and a hunger for liquefied natural gas, came as a new chief signaled a more “balanced approach” to renewable energy.
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Oil Giants, After Surge in Profits, Are Wary About Spending
The New York Times – Business:Economic and military uncertainty clouds the outlook for Exxon, Chevron and other energy companies, whose bonanza from high prices is already fading.
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China’s Oil and Gas Use Fell in 2022 for First Time in Decades
The New York Times – Business:Pandemic lockdowns curbed Chinese energy demand, but the International Energy Agency expects a rebound this year.
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Natural Gas Shortages Hit China as Temperatures Plunge
The New York Times – Business:Local governments starved for cash after enormous spending on costly “zero Covid” measures cannot afford to keep up adequate supplies of gas.
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Why Are Energy Prices So High? Some Experts Blame Deregulation.
The New York Times – Business:California and the 34 other states that have deregulated all or parts of their electricity system tend to have higher rates than the rest of the country.
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Natural Gas Prices in Europe Fall to Pre-Invasion Levels
The New York Times – Business:Warm weather, alternatives to Russian gas and a buildup of storage all help. But prices remain high for consumers and industry.