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TransCanada Corp. says the long-delayed Keystone XL pipeline will be in service months later than expected and cost more than its current $5.3 billion price-tag as it continues to await U.S. government approval. TransCanada had been sticking to its late 2014 or early 2015 start-up target, but the regulatory process has dragged on. It is now looking at a late-2015 start-up.

A sharp decline in the price of oil this month is making gasoline cheaper at a time of year when it typically gets more expensive. It's a relief to motorists and business owners and a positive development for the economy. Over the past three weeks, the price of oil has fallen by 9 percent to $89 a barrel.

Africa's wealthiest man, Aliko Dangote, says he aims to invest up to $8bn in a major new oil refinery that would double Nigeria's current oil output.

Exxon Mobil said CEO Rex Tillerson's total compensation rose 15% last year to $40.2 million.

The next time you drive past a farm and smell cow manure, here's something to think about while you're holding your nose. The stinky stuff could someday be an inexpensive source for fueling your car and powering your home... The process of turning the waste into natural gas by using what are called anaerobic digesters, has become much more efficient. "We take the manure from the cows and put it into sealed digester vessels, the manure is heated to 100 degrees at which the bacteria produces methane and CO2, which is called biogas. The Biogas is cleaned to remove the CO2, using water and pressure to create biomethane, which is then odorized to create renewable natural gas" explains Mark Stoermann of AMP Americas, an energy company partnering with Fair Oaks Farm to create the fuel.

General Electric Co is buying oilfield pump maker Lufkin Industries Inc for $2.98 billion, sharply increasing its presence in the fast-growing market to extract oil and natural gas from shale rock, the conglomerate said on Monday.

Suntech, one of the world's biggest solar panel manufacturers, was forced in bankruptcy court Wednesday, becoming the latest casualty of a painful slump in the global solar industry.

Barack Obama will use a visit to a Chicago-area lab on Friday to call on Congress to set aside $2bn over the next decade to fund research into a next generation of electric cars. The White House said the Energy Security Trust, which Obama first proposed in his state of the union address, would use royalties from offshore oil and gas drilling in public waters and would not add to the deficit.

If the extraction process is successful, it could provide enough energy to meet the country’s gas consumption needs for 14 years, experts say.

The State Department gave a mixed review Friday to a controversial Canada-to-U.S. pipeline, neither endorsing nor rejecting the project but noting that it would not significantly alter the development of Canada's tar sands.