DUBAI – A draft of a potential climate deal at the COP28 summit on Monday offered various options to reduce greenhouse gas emissions, but stopped short of the full “phase out” of fossil fuels many nations have demanded.
U.N. …
LONDON – The chief executive of oil giant Saudi Aramco 2222.SE, said on Tuesday this year’s COP28 U.N. climate conference should focus on cutting emissions from hydrocarbons, rather than reducing their production.
CEO Amin Nasser was speaking at …
(Bloomberg) – Shell Plc Chief Executive Officer Wael Sawan will meet with employees later this month to discuss the decision to put a greater share of investment into fossil fuels. Sawan invited staff to join a virtual meeting …
Phasing out fossil fuels is unrealistic as oil, natural gas, and coal will continue to play a crucial role in global energy supply and energy security, China’s special climate envoy Xie Zhenhua said this week in a speech …
Warren Buffett and his investment conglomerate Berkshire Hathaway have been increasing stakes in oil and gas industry operators this year as cheap valuations and attractive returns make fossil fuels good investments amid the ongoing ESG considerations from many …
(Bloomberg) – Shell Plc is exploring options for its global renewable power operations, including a potential stake sale to outside investors, people with knowledge of the matter said. The UK energy giant is working with advisers to study …
BRUSSELS – Group of Seven rich nations must take the lead in phasing out fossil fuels, the leaders of seven countries including The Netherlands and Chile have said, attempting to build momentum for a global deal this year to …
(Bloomberg) – Prime Minister Rishi Sunak said the UK will need fossil fuels for the “next few decades” as the UK moves to eliminate net greenhouse gas emissions, after being urged to oppose Equinor ASA’s Rosebank oil field …
Are you familiar with Sam Bankman-Fried, the crypto-whiz kid that started crypto-exchange FTX, the 30-year-old worth $30 billion, some were hailing as the new Warren Buffett? His empire is now a pile of rubble, and against all legal …
Following the signing of the Paris Agreement by 193 states and the EU and after the COP27 climate summit in 2021, several major financial institutions came under fire for their continued support of fossil fuel companies.
As governments …
In Canada’s oil patch, controversy is raging over federal government legislation intended to help the fossil fuel labour force transition to a greener economy, but union and community leaders are warning politicization of the Just Transition bill obscures
(Bloomberg) — The top bosses of US oil and gas companies are speaking less and less about climate and carbon emissions, a signal that the industry’s public focus on ESG over the past couple of years may be …
Major economies sharply increased support for the production and consumption of coal, oil and natural gas, with many countries struggling to balance longstanding pledges to phase out inefficient fossil fuel subsidies with efforts to protect households from surging …
(Bloomberg) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of …
Amin Nasser, the chief executive of Saudi Aramco, the world’s biggest oil producer, urged global leaders on Monday to continue investing in planet-warming fossil fuels in the years ahead, arguing that the assumption the world could transition to clean …
HOUSTON -A global energy conference devoted to future technologies and low-carbon strategies kicked off in Houston on Monday with top executives from energy companies affirming the need for more oil for decades to come.
The World Petroleum Conference’s four …
It’s worth hanging onto traditional energy stocks despite the recent resurgence in solar names, two traders say.
The popular Invesco Solar ETF (TAN) is up nearly 10% this week, helped in part by Enphase Energy’s surge after reporting record …
LONDON (Reuters) – Breaking up oil major Royal Dutch Shell into separate fossil fuels and renewables companies might be financially compelling but would not work in real life, finance chief Jessica Uhl said on Thursday.
Activist hedge fund Third …
LONDON – World oil demand will rise back above 100 million barrels per day, a level last reached in 2019, as soon as the second quarter of next year, according to major forecasters, challenging views that the pandemic may …
Ramping up investment in policies and technologies to tackle climate change could play a significant role in the global economy’s recovery from the coronavirus pandemic.
In a recent note, Charles Dumas, chief economist at U.K.-based investment research firm TS
LONDON — Carbon capture technology is often held up as a source of hope in reducing global greenhouse gas emissions, featuring prominently in countries’ climate plans as well as the net-zero strategies of some of the world’s largest oil …
The planet’s demand for electricity is set for a strong rebound this year and next after dropping by approximately 1% in 2020, according to a new publication from the International Energy Agency.
Released Thursday, the IEA’s Electricity Market Report …
LONDON – The European Bank for Reconstruction and Development (EBRD) will stop investing in upstream oil and gas projects as part of plans to align its activities with the goals of the Paris Agreement on climate change by the …
MILAN – Last week’s Dutch court decision against Royal Dutch Shell RDSa.L is not the way to solve the global decarbonisation issue and risks shifting the problem to private firms, the head of the world’s largest money manager said …
LONDON – The transition from a fossil-fuel dominated energy system to one with zero emissions would require trillions of dollars of investment in new production, distribution and consumption equipment worldwide.
New investments could support millions of new jobs …
WASHINGTON – President Joe Biden’s vast infrastructure plan includes $174 billion to boost the markets for electric vehicles and billions more for renewable power – both provisions aimed at weaning the U.S. off of fossil fuels and combating climate …
MEXICO CITY – As oil majors and developed nations push for a faster transition to clean energy, much of Latin America is struggling just to cover its basic supply needs for fossil fuels, which is forcing some countries to …
NEW YORK – Oil demand is expected to rise over the next decade and the fossil fuel will remain to be a crucial part of the energy mix, even as renewables draw increasing attention, Hess Corp Chief Executive John …
LONDON – National oil companies (NOCs) risk squandering $400 billion on expensive oil and gas projects over the next decade that may only break even if the world fails to meet the Paris climate goals, a non-governmental organisation said …
