ENERGY

A Shell spokesman told Reuters Iraq's cabinet had authorized the project on Jan 13.

A fair oil price is what would ultimately balance supply and demand, Aramco's CEO said Tuesday.

Some OPEC members, including Venezuela, have continued to call for output cuts.

Production and supply of crude has to slow down to halt the decline in global oil prices, analysts say.

Global financial markets reacted to the Greek election on Monday with the euro dropping to near an 11-year low against the dollar.

Some 80 percent of Pakistan was affected by a blackout Sunday, officials said power was restored by midmorning.

Though global prices jumped on the news of Abdullah's death, experts expect a smooth transition and no big policy changes.

The two countries are looking at activating a civil nuclear agreement that has been in limbo since it came into effect in 2008.

Rosatom said that cooperation between the two nations "cannot and should not depend on situational changes of political environment."

"Closing the Climate Deal" panelists in Davos said politicians should capitalize on falling oil prices and slap a fee on carbon emissions.

India's imports from Iran rose 41 percent to 250,200 bpd in April-December compared with the same period a year ago.

Suzlon and the U.S. private equity firm Centerbridge Partners have signed a binding agreement.

President Obama's India visit next week will focus more on renewable energy than on slowing coal and oil consumption.

At this week's Arctic Frontiers gathering, debate turns to shipping and oil extraction as China and Russia express growing interest in Arctic affairs.

One-day, six-continent event is designed to pressure negotiators at the U.N.'s upcoming climate change conference in Paris.

The former NYC mayor's initiative will support states trying to slash power plant emissions and expand renewable energy.

India may have to work around its stringent civil nuclear liability laws to facilitate U.S. investment.

The debate in Congress comes as Nebraska landowners launch a new legal challenge against the pipeline's proposed route in the state.

The ratings agency this week lowered the credit ratings of eight oil and gas companies as crude oil prices plunge past $50 a barrel.

The number of accidents, including heat strokes, at the Fukushima Daiichi plant has nearly doubled to 55 in this fiscal year.

Iraqi Oil Minister Adel Abdel Mehdi said on Sunday Iraq pumped 4 million barrels per day (bpd) of oil in December, its highest ever.

According to the deal, the government may now merge mines with state-controlled energy firms.

As U.S. gasoline prices slip below $2 a gallon at many pumps, pressure is increasing on Congress to raise federal taxes on gasoline and diesel.

The Clean Water Act penalties would come on top of more than $42 billion BP has set aside or spent for clean-up, compensation and fines.

Lower prices would eventually start to curb output and boost demand, according to the International Energy Agency.

After the Dow dropped more than 100 points Thursday as oil prices decline, analysts are looking ahead to Intel's earnings.

For Russia, oil revenue pays for half of its budget; for Venezuela, it's 96 percent.

The White House initiatives unveiled this week to rein in dangerous methane emissions don't go far enough, critics say.

Both Brent and U.S. crude oil dropping around $1 toward near six-year lows, almost wiping out gains made the previous day.