Energy

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UPDATE 1-Algeria to cut spending by 9 pct next year over oil price slump

ALGIERS, Aug 29 - Algeria's government said on Saturday it will cut spending by 9 percent next year due to the drastic fall in global oil prices as the OPEC petroleum and gas producer tries to counter the drop in energy revenues that account for 60 percent of its budget.

5:35pm BST

Hollande, Merkel, Putin back ceasefire plan for eastern Ukraine-France

PARIS, Aug 29 - France, Germany and Russia back plans for a complete ceasefire in eastern Ukraine from Sept. 1, the French presidency said after their respective leaders spoke by telephone on Saturday.

2:55pm BST

Obama heads north to Alaska, where drilling decision looms large

WASHINGTON, Aug 29 - President Barack Obama on Saturday defended his decision to allow Royal Dutch Shell to drill for oil in the Arctic Ocean under what he said were rigorous standards, fending off criticism by environmental groups.

11:00am BST

China passes new pollution law, sets sights on coal consumption cap

BEIJING, Aug 29 - Legislators have approved amendments to China's 15-year-old air pollution law that grant the state new powers to punish offenders and create a legal framework to cap coal consumption, the Asian giant's biggest source of smog.

10:25am BST

UPDATE 2-Alberta to keep oil, gas royalty framework to end-2016

CALGARY, Alberta, Aug 28 - Alberta's oil and gas royalty framework will remain in place until the end of 2016, Energy Minister Marg McCuaig-Boyd said on Friday, as she gave details on a review of the scheme for the province's new left-leaning New Democrat government.

28 Aug 2015
Energy
BP PLC 360.50p +2.65%
BG Group PLC 994.60p +3.41%
Ensco PLC $17.83 +4.70%

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