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Oil jumps 2.0pc on Russian plan to cut output

LONDON, Feb 10 (Reuters): Oil prices jumped more than 2% on Friday, heading for weekly gains, as Russia announced plans to reduce oil production next month after the West imposed price caps on the country's oil and oil products.Brent crude futures rose $1.71, or 2.02%, to $86.21 a barrel by...

US Dec consumer prices revised higher

WASHINGTON, Feb 10 (Reuters): U.S. monthly consumer prices rose in December instead of falling as previously estimated, revised government data showed on Friday.The consumer price index edged up 0.1% in December rather than dipping 0.1% as reported last month, the Labor Department's annual benchmark revisions of CPI data showed. Data...

Change to BP climate goal a concern for emissions-focused investors

LONDON, Feb 10 (Reuters): A member of a major climate-focused investor group leading engagement with BP (BP.L) has voiced concern the company may stray from commitments to cut greenhouse gas emissions after its CEO this week rowed back on plans to cut oil and gas output.Chief Executive Bernard Looney's strategy...

US diesel prices drop as Europe's ban on Russian imports begins

U.S. diesel prices have dropped this month and could go lower, analysts said, an unexpected swoon that coincided with the start of a British and European Union ban on Russian fuel imports, reports Reuters.The falling demand behind the price drop has allowed the United States to rebuild stocks, especially along...

Price falls, red tape curb demand from businesses for German energy subsidy

BERLIN, Feb 10 (Reuters): Take-up by German companies of a government scheme to help with energy costs this winter is likely to be lower than projected due to falling spot prices for gas and electricity and what some business owners say is a daunting application process.The government had earmarked 83...

Philippines' Citicore prepares for IPO, to invest $4b in renewable energy

MANILA, Feb 10 (Reuters): Citicore Renewable Energy Corp, one of the Philippines' biggest solar power producers, is planning to go public this year to fund a $4 billion investment in new solar projects over the next five years, its CEO said on Friday."For a country such as ours with limited...