Energy providers Centrica and Shell both just booked record profits as fuel costs rise. Europe is experiencing a gas crisis, with one key benchmark doubling in two months. British households' energy bills could have tripled by the end of the year, according to the consultancy firm BFY. For more stories, go to www.BusinessInsider.co.za.  Soaring gas prices are bad news for consumers - but they're helping major energy companies to rake in…

Italian energy company Eni has made a second oil and gas discovery offshore from Ivory Coast in less than a year, raising the country’s profile as a producer and increasing the fossil fuel resources found in the area by about 25%. The Baleine field now holds an estimated 2.5 billion barrels of oil and 93.4 billion cubic metres of associated gas, following the drilling of an exploration well in block…

Fuel prices will see a large drop on Wednesday, thanks in part to a cooling oil price. Petrol prices will be cut by R1.32 a litre, for both 93 and 95 unleaded, while diesel prices will be lowered by 88 cents a litre (0.05% sulphur) and 91 cents (0.005% sulphur) a litre, the Department of Mineral Resources and Energy announced on Saturday evening. In Gauteng, the price of 95 unleaded…

German capital Berlin is turning off 1,400 spotlights highlighting historic monuments and buildings. Munich and Hanover are taking similar steps, including limiting heating ahead of winter. Germany is facing an energy crisis as major supplier Russia has cut natural-gas supply. Cities in Germany are turning off the lights and heating in an effort to save natural gas and build up reserves ahead of winter. Berlin, Germany's capital, started turning off 1,400…

Vehicle-recovery and fleet-intelligence company Netstar reports that the theft and hijacking of tankers are on an upward trend. The company says that from January to June, hijackings and thefts among their customers rose by 24%. Charles Morgan, the company’s operations executive, says fuel tankers belonging to Netstar’s fleet customers have seen a dramatic rise. Morgan says: There are indications that fuel tankers are becoming a target. “In a recent case,…