James Fontanella-Khan Spot News

- Raw materials rises fuel hedging
Move follows sharp rise in commodity prices (FT)

- Venezuela soldiers seize oil service companies
Opens door to takeovers of major oil contractors (Reuters)

- 3i shows interest in EDF unit
Fund seeks targets for its $580m cash pile (FT)

- ‘Green’ review attacks Severn power plans
Activist say shortlisted projects are ‘flawed’ (FT)

- Tumbling metal prices dent Vedanta profits
Pre-tax profits fell 57% to £1.18bn (FT)

- Randgold boosts production and profits
Gold miner grows in spite of rising costs (FT)

- Canadian Natural profit falls, but beats Street
Revenue falls 45 pct to C$2.2 billion (Reuters)

- Gas billionaire claims fraud over lost unit
Latest row erupts in the murky east European gas trade (FT)

- All must play a part in fighting climate change
But only the US can spearhead the effort, says James Baker (FT)

- Budget omits Gulf drilling tax, for now
Obama administration planned to raise $5bn (WSJ)

- Venezuela oil group gears up for $2bn issue
PDVSA is expected to issue a bond this month (FT)

- Veolia jumps after Q1 earnings meet target
Share rose 21% valuing it at $13.8bn (Bloomberg)

- British Gas cuts electricity prices by 10%
Energy bills are set to fall for most UK consumers (FT)