Wednesday, May 14, 2025
Chicago City Council bans fossil-fuel investments- oil and gas 360

Chicago City Council bans fossil-fuel investments

World Oil (Bloomberg) — The Chicago City Council on Wednesday voted to ban city investments in coal, oil and gas companies in an effort to combat climate change. The measure was supported by Chicago Mayor Lori Lightfoot and Treasurer Melissa Conyears-Ervin, who manages investments for the city as well as its pension funds and oversees $9 billion in assets. The city plans

Occidental plans 70 plants to capture carbon from air by 2035- oil and gas 360

Occidental plans 70 plants to capture carbon from air by 2035

World Oil (Bloomberg) — Occidental Petroleum Corp., the shale giant backed by Warren Buffett, plans to build 70 carbon capture facilities around the world by 2035 that will each remove as much as 1 million tons per year of the greenhouse gas directly from the atmosphere. Construction on the first, $1 billion so-called direct air capture plant in the Permian

EXCLUSIVE OPEC officials tell EU of unease about proposed ban on Russian oil, sources say- oil and gas 360

EXCLUSIVE OPEC officials tell EU of unease about proposed ban on Russian oil, sources say

Reuters LONDON – OPEC officials believe a possible European Union ban on oil from its partner Russia would hurt consumers and the group has conveyed its concerns to Brussels, OPEC sources said. Major OPEC members, such as Saudi Arabia and the United Arab Emirates, have tried to navigate a neutral course between the West and Moscow, while OPEC+, a grouping

Shell to invest up to 25 bln pounds in UK's energy sector- oil and gas 360

Shell to invest up to 25 bln pounds in UK’s energy sector

Nasdaq March 24 – Shell SHEL.L will invest up to 25 billion pounds ($33 billion)into the energy system in Britain over the next decade, a senior executive at the oil major said, and over 75% of which will be funnelled into zero-carbon products and services. Shell plans to invest between 20 billion pounds and 25 billion pounds, David Bunch, head of the

Shale drillers foresee ‘world of hurt’ in Biden’s green economy- oil and gas 360

Shale drillers foresee ‘world of hurt’ in Biden’s green economy

World Oil (Bloomberg) — U.S. shale drillers are incurring record labor and equipment costs so they can cash in on the highest oil prices in 14 years. They say one of the reasons they’re not doing more is because of President Joe Biden’s perceived hostility to the traditional energy industry. Even as the Biden administration urges oil companies to boost