Tullow Oil Plc, a U.K. explorer operating mostly in Africa, suspended work at a project off Guinea as its partner at the site is investigated.
EON SE, Germany’s biggest utility, expects profit to fall as much as 33 percent this year on asset sales and lower earnings in Russia and at its commodities unit.
Enel SpA, Italy’s largest utility, said it will continue cost reductions and asset sales that helped boost 2013 profit by 10 percent and will allow a greater dividend payout to shareholders.
Crimea’s hastily organized vote this weekend on whether to leave Ukraine to join Russia is threatening Black Sea oil and natural gas drilling prospects coveted by Exxon Mobil Corp. and Eni SpA.
OAO Lukoil may turn to Russia for future renewable energy projects as its units in Bulgaria and Romania are hurt by subsidy reductions.
ThyssenKrupp AG, Germany’s largest steelmaker, halted the sale of its railway and construction division after bids failed to meet expectations.
Total SA, Europe’s third-largest oil producer, plans to sell a stake in Norway’s Gina Krog field development as it scales back spending, RS Platou Markets said.
In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world’s fourth-largest commodity trader with revenue topping $100 billion last year.
Ukraine is risking a “return to the start of 2009,” when Russia cut off its natural gas for more than two weeks, if it doesn’t pay for previously received supplies, according to OAO Gazprom.
Energie Baden-Wuerttemberg AG, Germany’s third-largest electricity supplier, said full-year profit slumped 89 percent as wholesale power prices declined.