Oil and Gas
Uk power charges to increase by 80% in Oct as regulator announces hike
LONDON — Britain’s vitality regulator introduced Friday it will raise its cap on client electricity costs to an typical £3,549 from £1,971 a calendar year, as marketing campaign teams, think tanks and politicians call on the authorities to tackle a value-of-living- crisis. The cost cap boundaries the standard charge vitality suppliers can bill domestic clients […]
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Fortum 2nd-quarter internet loss deepens as Uniper drags
Finnish utility Fortum on Thursday posted a second-quarter net decline of 7.4 billion euros ($7.4 billion) Image by RONI REKOMAA/Lehtikuva/AFP through Getty Photographs Finnish utility Fortum on Thursday posted a 2nd-quarter net loss of 7.4 billion euros ($7.4 billion), strike by losses at its German subsidiary Uniper, and reported it may perhaps have to improve […]
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‘Dangerous territory’: Investor Peter Boockvar warns recession is spreading to other parts of economy
There may be no escape from recession. The latest reports on housing and manufacturing, according to investor Peter Boockvar, suggest it’s rapidly spreading to other parts of the economy. “People are not being sensitive enough to this economic slowdown and what it’s going to be mean for corporate earnings and profit margins,” the Bleakley Advisory […]
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German energy giant RWE to burn extra coal as Russian gas supplies dwindle
An excavator photographed at a lignite mine operated by RWE on April 8, 2022. RWE says it wants to be carbon neutral by 2040. Alex Kraus | Bloomberg | Getty Images The chief financial officer of German energy firm RWE told CNBC Thursday that it will burn more coal in the short term — but […]
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Gas prices are falling — Here’s why it’s happening and whether it can continue
A customer pumps gas at an Exxon gas station on July 29, 2022 in Houston, Texas. Brandon Bell | Getty Images Gas prices are below $4 for the first time since March, but the market remains precarious and experts said it’s too early to know if the move lower will hold. The national average for […]
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Oil companies are giving back tons of cash — and other things we’ve learned this earnings season
A trader works at the New York Stock Exchange NYSE in New York, the United States, May 18, 2022. U.S. stocks plummeted on Wednesday as weak earnings from major retailers stoked concerns about the impact of inflation. Michael Nagle | Xinhua News Agency | Getty Images Source
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The price of a pint is going through the roof. Here’s why UK beer costs are far outpacing inflation
LONDON — The average cost of a pint of beer in the U.K. has soared by 70% since 2008 — well ahead of inflation — and some Londoners are parting with as much as £8 ($9.70) for 568ml of the amber nectar. According to figures from consultancy firm CGA, the average cost of a pint […]
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Chevron, Exxon post record quarterly profits as commodity prices boom
A floorhand operates a Chevron oil drilling rig near Taft, California. Chip Chipman | Bloomberg | Getty Images Exxon and Chevron posted record profits during the second quarter of 2022 as high commodity prices boost operations, and as the oil giants keep their spending in check. Chevron reported earnings of $11.62 billion during the three-month […]
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Poland’s leader seeks to assure public of energy security
Poland’s Prime Minister Mateusz Morawiecki speaks during a news conference near the gas installation at a Gaz-System gas compressor station in Rembelszczyzna, outside Warsaw, Poland, April 27, 2022. Kacper Pempel | Reuters At a time of rising discontent with high inflation and shortages of coal for heating, Poland’s prime minister sought to reassure the public […]
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Top travel tips: 5 ways to save money on flights and hotels as prices rise
1. Finding cheaper flights Those who are strategic about saving spend 23% less on flights than those who aren’t, according to a survey of budget travelers by the booking site VacationRenter. Top strategies include booking with a budget carrier (52%), sticking to one carry-on bag (48%), using credit card points or rewards (39%) and tracking […]
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