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Several international oil supermajors are planning to boost production while also promising to decrease their greenhouse gas emissions over the next decade and beyond. This seemingly counterintuitive strategy is the result of pressure from international organizations to decarbonize and the continued climb of energy demand around the world. Royal Dutch …

A record volume of renewable energy is expected to come online in 2021, with 290 gigawatts of new capacity. That surpasses 2020’s record, when renewables accounted for all of the new electricity capacity installed worldwide. Renewables have grown quickly in recent years, but are now entering a faster phase of …

Russian LNG exporter Novatek has signed a cooperation agreement with Vietnam’s PetroVietnam on developing potential liquefied natural gas (LNG) and power projects in the southeast Asian country. The agreement was struck during Vietnamese president Nguyen Xuan Phuc’s visit to Moscow, where he held a meeting with Novatek chairman Leonid Mikhelson …

Amazon announced its plans to scale up investment in renewable energy projects to power most of its business operations via renewable energy. At its AWS re:Invent 2021 event in Las Vegas, the company announced 18 new renewable energy projects, primarily wind and solar, across countries such as Finland, Germany, Italy, …

China’s industry ministry on Friday unveiled a five-year plan aimed at the green development of its industrial sectors, vowing to lower carbon emissions and pollutants and to promote emerging industries so as to meet a carbon peak commitment by 2030. The world’s top greenhouse gas emitter is aiming to bring …

OPEC+ ministers are likely to discuss pausing a planned oil output hike in January as one option during ministerial talks today, Dec. 2, Reuters reported, citing a source. The meeting will also discuss whether more oil will be released to the market as planned or supplies will be restricted after …

Major oil producers are due to meet Thursday to decide on output levels from January onwards, which could be frozen as the new Covid variant Omicron sparks turmoil. The OPEC+ alliance led by Saudi Arabia and Russia has so far resisted US-led pressure to significantly boost output to rein in …

The Ukrainian position is that since Nord Stream 2 is not compliant with EU rules, it should not be certified, the CEO of Ukraine’s gas and oil state company Naftogaz Yuriy Vitrenko told a conference in Brussels on Wednesday (1 December) organised by EURACTIV Bulgaria. The conference, titled “Nord Stream …

The Organization of the Petroleum Exporting Countries (OPEC) will meet on Wednesday, ahead of a meeting of OPEC+ on Thursday, to discuss a response to the threat of a hit to fuel demand from the Omicron variant. Some analysts expect OPEC+ to pause plans to add 400,000 barrels per day …

The tiny South American nation of Guyana has emerged as the hottest offshore drilling location on the continent over the last six years. The swathe of oil discoveries made by ExxonMobil and its partners, Hess and CNOOC, in the offshore Stabroek Block, since 2015, recently saw the energy supermajor upgrade …