Dangling tax credits and rebates in his drive to fight climate change, United States (US) President Joe Biden wants you to trade your gas-burning car, truck or SUV for a zero-emissions electric vehicle (EV). Some buyers would find his offer persuasive. Yet Biden’s goal is a daunting one: Even if …
Read More »EU must Recognise Natural Gas as Key to Energy Transformation
The Gas Exporting Countries Forum (GECF) is supporting the EU’s intention to consider gas as a sustainable source of energy under the new green labelling system. This was announced by HE Yury Sentyurin, Secretary General of the association of 19 leading gas-exporting countries while speaking as a keynote at the …
Read More »Oil Industry Hit Hard by New Travel Restrictions
A slump in Europe’s travel industry could have a knock-on effect for oil and gas as lockdowns spread across Europe once again. European airline shares plunged this week as Germany, France and Italy all announced new lockdown measures to be introduced over and beyond the Easter period. Vacation travel is …
Read More »Oil Giant Bets Big On Expected $2 Trillion Carbon Capture Market
These are unprecedented times for the oil and natural gas industry as it navigates pandemic-driven demand destruction, investor calls to adapt to a carbon-constrained world, and new regulatory threats from the Biden administration. The dreadful outlook for oil and gas producers is why more consolidations are likely in the months …
Read More »Fossil Fuel Emissions in Danger of Surpassing Pre-Covid Levels
The world has only a few months to prevent the energy industry’s carbon emissions from surpassing pre-pandemic levels this year as economies begin to rebound from Covid-19 restrictions, according to the International Energy Agency. New figures from the global energy watchdog found that fossil fuel emissions climbed steadily over the …
Read More »Shell to Accelerate Net Zero Ambitions, Aims for 2050 Deadline
Shell is accelerating its commitment to reach net zero emissions, with the oil company now aiming to zero out its impact on the environment by 2050. The 2050 date isn’t exactly new for Shell, it had already promised that its energy business would achieve net zero by this date, although …
Read More »China’s Emissions of Ozone-Harming Gas Are Declining, Studies Find
Emissions from China of a banned gas that harms Earth’s ozone layer have sharply declined after increasing for several years, two teams of scientists said Wednesday, a sign that the Beijing government had made good on vows to crack down on illegal production of the industrial chemical. The findings ease …
Read More »Big Oil Is in Big Trouble. What will Happen Next?
The Covid-19 pandemic has caused a drop in demand and prices like never before. Here’s how global oil giants are dealing with the mounting losses. Global oil giants posted massive losses in 2020, as the coronavirus pandemic brought oil and gas demand to a grinding halt and caused already-weak prices …
Read More »Germany’s Merkel Stands by Backing for Russia Gas Pipeline
German Chancellor Angela Merkel on Friday stood by her backing for a German-Russian gas pipeline project despite the Navalny case and the threat of U.S. sanctions Merkel said her government’s position on Nord Stream 2 is still unaffected by tensions over Russian opposition leader Alexei Navalny who recovered in Germany …
Read More »ExxonMobil, Chevron Bosses Mulled Combining Operations amid Volatile Oil Markets
ExxonMobil and Chevron bosses last year discussed merging the two biggest oil producers in the U.S., Bloomberg News reported on Monday, citing unnamed sources with knowledge of the meeting. According to Bloomberg, ExxonMobil chief executive officer Darren Woods and Chevron CEO Michael Wirth discussed a potential consolidation of the oil …
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