The proposed program for offshore drilling between 2023 and 2028 would ban exploration off the Atlantic and Pacific coasts. But by leaving the possibility for new drilling in parts of the…Continue readingBiden opens door to more offshore drilling, despite earlier climate vow
Tag: oil
Alberta’s producers — forced to contend with sub-zero oil prices just a couple of years ago — are using the windfall from $100 a barrel crude to repair their balance sheets…Continue readingCanada’s oil sands: why some of the world’s dirtiest fuel is now in hot demand
Oil and gas is back in fashion — at least on the stock market. Soaring fossil fuel prices, pushed higher by Russia’s invasion of Ukraine, have helped the shares of the…Continue readingOil and gas back in vogue for retail investors
The outgoing head of Australia’s offshore oil and gas regulator has helped hand out awards to fossil fuel companies, including Santos, Inpex and Beach Energy, prompting criticism the body could be…Continue readingAustralia’s oil and gas regulator criticised after chief hands out environmental ‘excellence’ awards at industry dinner
Gautam Adani and Mukesh Ambani are profiting from a surge in global commodity prices triggered by Russia’s invasion of Ukraine, burnishing their fossil-fuel credentials even as Asia’s richest men publicly push…Continue readingCoal, oil price surges on Ukraine war make Asia’s richest richer
America’s shale oil companies are enjoying a cash bonanza, as soaring oil prices and months of capital restraint transform the fortunes and balance sheets of a sector once notorious for debt-fuelled…Continue readingUS shale companies enjoy ‘tsunami of cash’ on high oil prices
Saudi Aramco has overtaken Apple as the world’s most valuable company after higher oil prices pushed shares of the world’s biggest crude exporter to record levels, while a broader tech stock…Continue readingSaudi Aramco overtakes Apple as the world’s most valuable company
Indonesian state-owned oil and natural gas company Pertamina has reportedly received approval for the $2.41 billion investment plan to expand the Rokan oil block. Pertamina has received the approval from the…Continue readingPertamina gets planning approval for $2.4 billion Rokan block development
The Guanabara floating production storage and offloading unit (FPSO) has been designed to process up to 180,000 barrels of oil per day and 12 million cubic metres of gas per day.…Continue readingPetrobras begins production from FPSO Guanabara in Mero field
The Biden administration announced on Friday that it would resume selling leases for new oil and gas drilling on public lands. The Interior Department said in a statement that it planned…Continue readingBiden Plans to Open More Public Land to Drilling
As one of the world’s most famous game reserves, Murchison Falls National Park is home to some of the largest populations of elephants, giraffes, lions and leopards anywhere on the planet.…Continue readingThe oil giants drilling among the giraffes in Uganda
Canada’s environment minister approved Wednesday a controversial offshore oil project expected to see 300 million barrels of oil extracted over 30 years This is equivalent to about 3 days of global…Continue readingCanada approves controversial Bay du Nord offshore oil project
From the U.S. to China, in Europe, India and Japan, fossil fuels are staging a comeback, clean energy stocks are taking a hammering, and the prospects for speeding the transition to…Continue readingThe great climate backslide: How governments are regressing worldwide
For the past 15 years the world has been using more oil than the primary monitoring agency thought. The changes aren’t small. At 2.9 billion barrels, the additional demand they’ve just found is…Continue readingThe World Has Been Using A Lot More Oil Than We Thought
25 European banks have provided $US33 billion (£24 billion) in loans and other financing to 50 companies with large oil and gas expansion plans, less than a year since pledging to…Continue readingEurope’s biggest banks provide £24 billion to oil and gas firms despite net zero pledges
TotalEnergies & China’s CNOOC will drill more than 431 wells in Uganda and pump the crude in a pipeline heated to 50˚C 1,450km (900 miles) to a port in Tanzania. The…Continue readingThe East African Pipeline
Total Energies is leaving it to others to meet the carbon reduction goals in the Paris agreement, after the Paris-based colossal fossil predicted the world will hit peak oil demand around…Continue readingColossal Fossil Total Projects Peak Oil by 2030, Still ‘Leaves it to Others’ to Meet Paris Targets
/cloudfront-us-east-2.images.arcpublishing.com/reuters/J4UIL5EZ3VNEJHP4YFCP53UFG4.jpg "Norway to keep searching for oil and gas")
A minority coalition of the Labour Party and the rural Centre Party will take power after defeating the Conservative-led government in last month’s election. “The Norwegian petroleum industry will be developed,…Continue readingNorway to keep searching for oil and gas
“We will supply energy to the world as long as the demand exists.”Continue readingNorway plans to continue oil exploration and drilling in coming decades
There is “no longer any realistic chance” for an orderly transition for global financial markets because political leaders will be forced to rely on “handbrake” policy interventions to cut emissions, according…Continue readingPrepare for DISORDERLY shift to low-carbon era