(Oil Price) – Global investments in green energy solutions topped $2 trillion last year, for the first time ever, but the world needs to pour in $5.6 trillion each year into low-carbon energy to get on track for global net zero by 2050, in line with the Paris Agreement, BloombergNEF said in a new report on Thursday. Last year, green energy investments reached a record
(Oil Price) – Poor returns prompted investors to withdraw record amount of money from the EU’s funds with the strictest ESG standards, a report by market research firm Morningstar has shown. The EU’s Sustainable Finance Disclosure Regulation (SFDR), adopted in 2021, regulates and classifies funds according to their sustainability. The so-called Article 8 funds are registered as “promoting” ESG goals,
(Oil Price) – BlackRock, the world’s largest asset manager, is quitting the Net Zero Asset Managers initiative in the latest exit of a major financial institution from a climate finance alliance since Donald Trump was elected U.S. President in November. BlackRock has decided to leave the voluntary Net Zero Asset Managers initiative, which launched in December 2020 and aims to “support the
(Investing) – LONDON – A turbulent year for sustainable finance is set to continue in 2025 as the return of Donald Trump as U.S. president heralds more regional divergence on everything from fund flows to legal cases and market regulations. Despite record high temperatures and more extreme weather events across the planet last year, the policy response by governments still remains
(Oil Price) – Texas is not only the biggest oil and gas producing state in the U.S.—it leads America’s renewable energy and battery capacity additions, outshining California, Florida, Arizona, and Colorado. Abundant wind and solar resources have made Texas a powerhouse in renewable energy installations, while battery storage capacity has also surged in recent years to support the clean energy rollout
(World Oil) – Pioneer Energy announced today they have been selected by the U.S. Department of Energy for four different awards which collectively total $27 million. Three of these are intended to advance the company’s Emission Control Treater™ (ECT), a breakthrough near zero emissions well pad production technology that can increase crude yield by 5-10%. The ECT is a closed
(World Oil) – China Petroleum & Chemical Corporation (Sinopec) has released the first sustainability report published by a Chinese company in Algeria, detailing its achievement in fulfilling economic, safety, environmental, and social responsibilities in the region and advancing the vision of New Algeria. Algeria is the largest country in Africa with the fourth largest economic output. Sinopec adheres to the vision
(Oil Price) – Following the recent election of Donald Trump as the next president of the U.S., the Biden administration is racing to approve huge quantities of green funding to ensure the U.S. gets the best chance possible at a green transition. The Biden government’s far-reaching climate policy, the Inflation Reduction Act (IRA), is under threat as President-elect Trump has repeatedly
(World Oil) – Diamondback Energy, Halliburton Energy Services and VoltaGrid LLC have entered into a landmark agreement to deploy four advanced electric simul-frac fleets across the Permian basin. This collaboration represents a significant investment in clean and efficient energy solutions, with VoltaGrid delivering approximately 200 megawatts (MW) of electric power to support Diamondback Energy’s field operations. This marks a continuation of
(Investing) – Biden administration officials will not finalize highly anticipated guidelines on new clean fuel production tax credits aimed at the airline and biofuel industries before they leave in January, three sources told Reuters, casting doubt on the future of a key piece of the U.S. president’s climate agenda. The tax credit, the engine behind President Joe Biden’s ambitious plan to
(Investing) – BUSAN, South Korea -Countries negotiating a global treaty to curb plastic pollution failed to reach agreement on Monday, with more than 100 nations wanting to cap production while a handful of oil-producers were prepared only to target plastic waste. The fifth U.N. Intergovernmental Negotiating Committee (INC-5) meeting intended to yield a legally binding global treaty in Busan, South Korea,
(Oil & Gas 360)– Jaguar just released an ad for their new electric vehicle which must rank as the new standard for weirdness. It just might exceed the Bud Light ad for brand destruction. Too bad. Another sacrifice on the woke altar. Did Jag not get the memo from Mercedes, Ford, and Volkswagen about sales volumes? The much-talked-about but not-much-done-about Energy
