The days of the internal combustion engine are numbered. General Motors said Thursday that it would phase out petroleum-powered cars and trucks and sell only vehicles that have zero tailpipe Continue Reading
Efforts to curtail financing of international fossil fuel infrastructure development received a substantial boost from the Biden administration’s broad climate executive order rolled out Jan. 28. Receive daily email alerts, Continue Reading
President Joe Biden’s temporary halt to drilling on federal lands leaves the vast majority of U.S. crude production untouched, though it may be the death knell for the Gulf of Continue Reading
The “supermajor” oil companies collectively known as Big Oil are having a time of it , in large part because of the pandemic, obviously, but also because we are swiftly Continue Reading
The EU’s Covid-19 vaccination plan is nearing crisis point after several regions suspended inoculations over the shortage of jabs and Brussels moved to restrict exports of vaccines to conserve stocks. The Continue Reading
Germany’s government has been criticised for its vaccine programme’s slow start Germany’s vaccine committee has said AstraZeneca’s Covid jab should only be given to people aged under 65. The committee Continue Reading
Three of the euro area’s four largest economies rounded off the pandemic year suggesting the region can avoid a deeper recession, while still facing headwinds from extended coronavirus lockdowns. Gross domestic Continue Reading
Crude oil futures declined in mid-morning trade in Asia Jan. 28, despite a fall in US inventories, as worries over global growth recovery came back to the fore after the Continue Reading
Oil declined as a slide across financial markets overshadowed the positive signal from the biggest draw in U.S. crude stockpiles in six months. Futures in New York slid 0.4% as negative Continue Reading
Crude prices lack direction Jan. 27 as the market weighed a bullish US crude draw against pandemic -dimmed demand outlooks. NYMEX March WTI settled up 24 cents at $52.85/b, and Continue Reading
Oil erased most of its gains as futures traded in tandem with broader markets, with demand concerns prevailing over the biggest drop in U.S. crude supplies since last summer. While futures in Continue Reading
S&P Global Ratings warned this week it could very soon downgrade the ratings on some of the world’s biggest oil firms, citing increased risks coming from the energy transition, price Continue Reading
Massive investment in renewable energy in the developing economies, which are set to produce most of the global emissions in the coming years and decades, will be necessary to achieve Continue Reading
Russia’s gas giant Gazprom believes that pipeline natural gas could be compatible with the global climate goals of greenhouse gas reduction and Europe’s commitment to net-zero emissions by 2050, according Continue Reading
Stability in the oil market will be critical to the energy transition, OPEC Secretary General Mohammed Barkindo said Jan. 27, arguing that volatile prices would harm the global economy and Continue Reading
Massive investment in renewable energy in the developing economies, which are set to produce most of the global emissions in the coming years and decades, will be necessary to achieve Continue Reading
The following is Richard Heinberg’s contribution to a two-way discussion with Adam Dorr , an environmental social scientist at the nonprofit think tank Rethinkx . The exchange was hosted by Continue Reading
The Biden administration has imposed a temporary freeze on U.S. arms sales to Saudi Arabia and is scrutinizing purchases by the United Arab Emirates as it reviews billions of dollars Continue Reading
After years of turbulence, Libya’s oil industry is finally starting to bounce back, with the production increase that started in December showing no signs of stopping. Ever since the end Continue Reading
Saudi Arabia’s “brilliant move” to unilaterally reduce oil output additionally by 1 million b/d has been a great contribution to the stabilization of the global oil market, Kirill Dmitriev, the Continue Reading
Iran has threatened to block nuclear inspections next month, and further increased production of fuel that could be enriched for use in bombs. It has seized an American ally’s cargo Continue Reading
Near the beginning of December, Bloomberg sources suggested that the French oil major Total SA was looking to rid itself of its 18% stake in the Sarsang exploration block in Continue Reading
China’s plans to achieve carbon neutrality by 2060 lack clarity and appear to be undermined by the country’s financing of coal-fired power station construction around the world, the US’ new Continue Reading
An increase in Iranian oil exports to China has received some unwanted attention in recent days and is now prompting fears of a clampdown. Indonesia seized two vessels — one of which was Continue Reading
China has been betting big on developing its shale gas resources, driven by surging natural gas demand and efforts to boost energy security. State oil and gas majors have been Continue Reading
China’s government called on Indonesia on Wednesday to treat a group of detained Chinese sailors fairly but gave no indication what their oil tanker was doing when it was found Continue Reading
Chinese oil majors will struggle to extend fast growth in shale gas production beyond 2025, as complex geology and failure to draw in more investors make it expensive to develop Continue Reading
President Biden is preparing a slew of executive orders Wednesday building out the new administration’s agenda for tackling climate change, in what is being dubbed “Climate Day.” The moves on Continue Reading
President Joe Biden on Wednesday signed a raft of executive actions to combat climate change, including pausing new oil and gas leases on federal land and cutting fossil fuel subsidies, Continue Reading
President Joe Biden signed a series of directives to combat climate change that he presented as a boost for U.S. employment, arguing that improvements in infrastructure and technology to curb Continue Reading
President Joe Biden is aiming to green the country’s electrical grids by 2035 and everything else by 2050, ambitions requiring thousands of specific federal actions to set states, cities and Continue Reading
The clock is ticking for the Biden administration to nullify Donald Trump’s restrictions on retirement plan fiduciaries, rules by which the Republican sought to limit their ability to direct money into environmental, Continue Reading
Exxon Mobil Corp. XOM -1.13% is preparing to make changes to its board and adopt further measures to reduce its carbon footprint as the beleaguered energy giant faces pressure from a pair of activist investors. The Continue Reading
ExxonMobil is considering further cuts to capital expenditure, changes to its board and more investment in sustainable technologies after it held talks with activist investors engaged in a proxy battle Continue Reading
Biden Signs Executive Orders to Confront Climate Change On Wednesday, President Biden signed a series of executive orders aimed at combating climate change through job creation, and included a ‘pause’ Continue Reading
A week ago, President Joe Biden did what many in Alberta feared: he revoked the permit for the Keystone XL pipeline—on his first day as President, no less. The move Continue Reading
Engine No. 1, the new activist investor firm seeking long-term policy changes at Exxon, said on Wednesday it had formally nominated four independent director candidates to the supermajor’s board, continuing Continue Reading
Frigid temperatures settling across the western half of the US this week have the potential to prompt natural gas production freeze-offs, particularly in the Bakken Shale, and lower pipeline inflows Continue Reading
With the US Northeast cold snap forecast to deepen on Jan. 28, both gas and power prices were trading substantially higher on Jan. 27. Receive daily email alerts, subscriber notes Continue Reading
Highlights Commercial crude stocks fall 9.91 million barrels Exports up 49%, imports down 16% Gasoline stocks climb as demand slows New York — US crude oil inventories moved sharply lower Continue Reading
Oil and gas companies knew they would face a fight with President Joe Biden, who had campaigned on tackling climate change. Nobody expected fossil fuel to come under such an Continue Reading
The more your firms are seen to embrace the climate transition and the opportunities it brings, the more the market will reward your firms with higher valuations. – Larry Fink, Continue Reading
Customers of Duke Energy in the Carolinas could end up paying more than $4.8 billion for planned natural gas-fired capacity that could become stranded as part of the company’s pledge Continue Reading
Sumitomo Corporation of Americas (SCOA), the largest subsidiary of Sumitomo Corporation, one of the world’s largest traders of goods and services, has invested in OneH2, a hydrogen fuel company headquartered Continue Reading
Britain announced new measures to reduce travel in and out of the country on Wednesday, hoping that by tightening its borders it can reduce the risk of new variants of Continue Reading
The European Union and drugmaker AstraZeneca sparred Wednesday over a delay in coronavirus vaccine deliveries amid a deepening dispute that raises concerns about international competition for limited supplies of the Continue Reading
Only 36 percent of Russia’s recoverable crude oil reserves can turn a profit in the current market, Deputy Energy Minister Pavel Sorokin said in an article for Energy Policy magazine. Continue Reading
Germany’s health minister said on Thursday he expects the current shortage of coronavirus vaccines to continue well into April, as the government faced new criticism over the pace of its Continue Reading
The European Union has been besieged by problems since it approved its first coronavirus vaccine in December and rushed to begin a vast immunization campaign, but now its woes have Continue Reading
The H24All project, led by a consortium of fifteen partners, has presented an application for European Green Deal funding to develop Europe’s first 100 megawatt (MW) alkaline electrolyzer plant, which Continue Reading
