(Investing) – ABU DHABI -Executives at two of Europe’s top gas suppliers, ExxonMobil and QatarEnergy, on Monday warned they could stop doing business with the European Union if it does not significantly loosen a sustainability law that could impose fines of 5% of their global revenue. Exxon CEO Darren Woods told Reuters on the sidelines of the ADIPEC meeting in Abu Dhabi
(Oil Price)– Energy prices for consumers across the UK rose again this month. Ofgem, the energy regulator, set the maximum annual rate for an average household for gas and electricity at £1,755 until the end of the year. The cap is now over £600 higher than when it was first introduced in 2019. Under the cap, the average price of
(Oil Price) – U.S. Energy Secretary Chris Wright blasted net-zero targets as a “colossal train wreck” ahead of his trip to Europe for a gas summit and meetings with EU officials, warning the push for climate policies could weaken energy security and derail a U.S.–EU trade deal. “Net zero 2050 is just a colossal train wreck,” Wright told the Financial Times
(World Oil)– The Trump administration and Environmental Protection Agency (EPA) Administrator Lee Zeldin have announced the agency will reverse the 2009 ‘endangerment finding’, which made greenhouse gases, including carbon dioxide (CO₂), pollutants subject to agency regulation. This finding provided the legal framework to regulate CO₂ and enabled the Net Zero movement to gain traction both in the U.S. and worldwide.
(Investing) – LONDON – U.S. Energy Secretary Chris Wright on Monday called a pledge to achieve net zero carbon emissions by 2050 a “sinister goal”, and criticised the British government’s attempts to hit clean energy targets. Former President Joe Biden set a target in 2021 for the United States to achieve net-zero emissions by 2050 to help fight climate change, in
(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
The Oil and Gas Decarbonisation Congress (DECARBON) unites decision makers to share their viewpoints and companies experience on using advanced tools to decarbonise the industry operations. Predictive
Oil Price Last year, several U.S. banks threatened to leave the Glasgow Financial Alliance for Net Zero – a group led by former Bank of England governor Mark Carney, aimed at facilitating the energy transition. The reason those banks threatened to leave was that commitments related to the transition process were becoming increasingly aggressive, and they worried that those commitments might end
Reuters Chevron Corp on Monday set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint. The move to cut upstream emissions from its own operations and indirect emissions such as those from power generation comes as investors and governments increase pressure on energy companies to
Reuters A Democrat in the U.S. House of Representatives introduced legislation on Tuesday extending tax credits to companies that domestically produce rare earth magnets, a sector currently dominated by China. The bill is the latest in a string of U.S. legislation attempting to cobble together a national strategy to produce more lithium, rare earths and other so-called strategic minerals used
Energy Voice Shell has opted to cut its dividend by two-thirds in response to the recent slump in oil prices and “significant” mid and long-term market uncertainty. The Anglo-Dutch giant will pay out 12.8p (16c) in the first quarter, down from 37.7p a year ago. Shell insisted shareholder returns were a “fundamental part” of its financial framework, but said it had
