Energy

Climate envoy John Kerry outlined a carbon-credit plan that aims to pump billions of dollars into developing countries’ energy transition, while some businesses expressed caution over investing in the program.

Ukraine’s allies are preparing to hit Russian oil with the toughest restrictions to date, an attempt to stem President Vladimir Putin’s influx of fossil-fuel revenue.

Geopolitical and economic upheaval has stalled progress and led to backsliding by some measures over the past year, but countries are spending more to address climate change.

The operator of Ukraine’s electricity-transmission system said the temporary restrictions on all consumers in seven regions were necessary to reduce pressure on the network.

Utility company Dominion Energy intends to review its current business mix and capital allocation, and assess regulatory options to assist its customers with managing costs.

More than a third of Ukraine’s power-generation capacity has been knocked out by drone and missile strikes in the past month.

Geopolitical strife and energy market turmoil have upended prospects for reaching a global agreement to accelerate the fight against climate change.

Diplomats from the G-7 countries plan to denounce Russia’s nuclear threats and agree on fresh economic support for Ukraine’s energy infrastructure.

Engineers are exploring radical new designs for commercial planes that would use less energy and lower emissions. But will passengers be willing to board them?

The shipping giant reported another blockbuster quarter, but the water ahead looks far less inviting: The company sees trade volumes falling faster than previously expected.

The United Arab Emirates sent its national security adviser to Riyadh in September on a secret mission to dissuade Saudi Arabia’s crown prince from pushing an oil-production cut that would anger the U.S. and risk painting oil producers as Russian allies, people familiar with the trip said.

High natural gas prices in Europe and steeper discounts in sour crude oil are helping U.S. refiners squeeze out more profit.

London-based BP reported robust underlying profit for the third quarter and said it would buy back another $2.5 billion of shares, as a strong performance in natural-gas trading offset weaker refining margins.

The president said the energy companies should be punished if they don’t use their profits to help lower energy costs for consumers.

Discussions were preliminary and didn’t result in any deal. Tesla is already a customer of Glencore, a big cobalt producer.

The cartel called for trillions of dollars worth of investments in the oil industry over the next two decades to meet what it expects to be booming demand for fossil fuels stretching far into the middle of the century.

The U.K. Meteorological Office is set to make its seasonal three-month weather forecast, and everyone from energy traders to weather nerds is watching.

The world’s largest oil companies continue to reap rewards from sustained high commodity prices, with Exxon posting its most lucrative period ever, and Chevron reporting a slight dip from its record.

Russia’s central bank expects the economy to shrink by up to 3.5% this year, with economists forecasting a gloomy future as the country’s energy sector struggles to recover from the loss of its lucrative European markets.

Companies are developing technologies to store carbon underground and undersea for decades or longer.