Magellan Petroleum Corporation (Nasdaq: MPET - News; ASX: MGN - News) reported a consolidated net loss of $1.3 million (loss of $0.03 per share) on gross revenues of $8.9 million for its fiscal first quarter ended September 30, 2009, as compared to net income of $1.5 million ($0.04 per share) on revenues of $10.4 million [...]

LONDON, April 24 (Reuters) - This week’s UK budget has revived hopes wind energy could become sufficiently cost effective to generate around a fifth of Britain’s power and put the nation on course to meet its carbon reduction targets.
While the government is relying almost entirely on the growth of offshore wind farms to reduce [...]

By Jurjen van de Pol and Ben Sills
Feb. 3 (Bloomberg) — European producer prices declined more than economists expected in December on lower oil prices, adding to arguments that the region’s central bank should reduce interest rates more to combat the deepening recession.
Factory-gate prices in the euro region fell 1.3 percent from the previous month [...]

Exxon Mobil finished a roller-coaster year in the oil markets with an all-time record $45.2 billion in profits, despite fourth-quarter earnings that were a third lower than the same period a year before.
With oil prices slumping, Exxon Mobil suffered a sharp drop in profits from producing oil and gas but higher profit margins at refueling [...]

Falling oil prices will spur a recovery in demand for crude, according to Tony Hayward, chief executive officer of BP Plc, Europe’s second-biggest oil company.
Oil’s 54 percent drop from its July record in New York was caused by higher OPEC output, slower economic growth and lower U.S. consumption, Hayward said in a speech to the [...]

By Anthony DiPaola and Fred Pals
Nov. 3 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company, signed a memorandum of understanding with Abu Dhabi that may lead to deep-offshore gas exploration.
It’s too early to estimate potential reserves, Shell’s Head of Exploration Malcolm Brinded said today in an interview in Abu Dhabi. “Shell hopes [...]

Oil prices have been dropping and could go as low as $45 per barrel next year, according to some projections.
That could ease the inflation burden on economically hammered consumers and businesses and help further retreat gasoline prices, which spiked above $4 per gallon this summer.
Dennis Hoffman, an economist at the Arizona State University’s W.P. Carey [...]