Environmental groups say the event in Perth to court the biggest polluting oil company of all time is ‘akin to a joint trade show with a tobacco major’Continue readingAustrade forum to promote links with oil giant Saudi Aramco condemned by activists
Tag: oil
About 19 million leisure journeys by car are expected on Britain’s roads over the next four days, and more than 3,000 planes are scheduled to take off on Friday.Continue readingBusy roads and airports expected over late-May UK bank holiday weekend
Oil from the Fenja field is transported through a 36km long electrically trace-heated (ETH) pipe-in-pipe solution to the Njord A platform for processing and subsequently for transport.Continue readingNeptune Energy and partners begin production from Fenja oil and gas field
“The world will need these vital oil resources to meet future energy demand and help ensure an affordable, just and secure energy transition.” The Uaru field development project, which…Continue readingExxonMobil, Hess take FID on $12.7bn Uaru oil project offshore Guyana
Equinor Energy and its partners have started production from the Bauge oil and gas field in the southern Norwegian Sea, which has been developed with an investment of NOK4.6bn…Continue readingEquinor begins production from Bauge oil and gas field in Norwegian Sea
An annual report on fossil fuel financing by a coalition of campaign groups organised by the Rainforest Action Network found that RBC extended $42.1bn in funding to fossil fuel…Continue readingRoyal Bank of Canada becomes top financier for fossil fuel industry
Starlee Sykes, head of BP’s Gulf of Mexico business, told the Financial Times in an interview that the company had responded to Biden’s call and planned to continue exploration…Continue readingBP commits to Gulf of Mexico as $9bn platform comes online
Under the MOU, PETRONAS and Phoenix Petroleum will conduct a joint feasibility study to take the collaboration to the next phase of execution.Continue readingPetronas partners with Phoenix Petroleum to explore opportunity in the Phillipines
Prime Minister Shri Narendra Modi and Prime Minister of Bangladesh, Sheikh Hasina jointly inaugurated the India-Bangladesh Friendship Pipeline (IBFP) today in a virtual mode. The foundation stone for the…Continue readingPM Modi and Sheikh Hasina inaugurate India-Bangladesh Friendship Pipeline
“As we look to the province’s future, it is reasonable to look at the assets of the province and determine their potential. That is why we have decided to…Continue readingNewfoundland and Labrador proceeds with phase II review of current offshore oil and gas interests
Following the expansion through the addition of a third crude unit, the total crude refining processing capacity of the Beaumont refinery in Texas, US has gone up by over…Continue readingExxonMobil starts operations at $2bn Beaumont refinery expansion project
The project partners have decided to move ahead with a concept that calls for the installation of four electrical liquefaction trains with a combined capacity of four million tons…Continue readingTotalEnergies and partners launch FEED for Papua LNG project in PNG
Rise of 53% came as oil group’s profits hit record $40bn in tumultuous year for energy markets. It brings van Beurden’s total compensation from Shell since becoming chief executive…Continue readingEx-Shell chief Ben van Beurden’s pay jumped to £9.7mn last year
Oil companies plan to pump crude oil from Lake Albert, Uganda to the coast of neighbouring Tanzania, with the goal of producing 1.4bn barrels over the next two decades.…Continue readingCounting the cost of Uganda’s east Africa oil pipeline – in pictures
Preliminary estimates indicate that the discovery holds 17-47 million barrels of recoverable oil equivalent, with the majority being oil.Continue readingEquinor makes oil and gas discovery near Troll field in Norwegian North Sea
“Shell can’t claim to be in transition as long as investments in fossil fuels dwarf investments in renewables,” said Mark van Baal, founder of Follow This, an activist shareholder…Continue readingShell profits more than double to record $40bn
CEO, Looney, said BP would spend $8bn more on its “transition” businesses — biofuels, convenience, charging, renewables and hydrogen — between now and 2030 than previously planned, and $8bn…Continue readingBP slows oil and gas retreat after record $28bn profit
Oil and Natural Gas Corporation Limited (ONGC, owned by the Ministry of Petroleum and Natural Gas, Government of India) is in talks with global oil majors to infuse state…Continue readingONGC invest $3.5bn to keep up production
Results show scale of windfall from high oil prices following invasion of Ukraine.Continue readingExxonMobil posts record $56bn profit
Crude production from the Permian Basin has soared to a record high.Continue readingUS jobs boom in the ‘busiest spot in the busiest oilfield’
Sovereign wealth fund has gained 5% so far this year but chief executive warns of ‘uncertain’ 2023.Continue readingNorway’s $1.3tn oil fund bounces back after worst year since 2008
The first contract from Total Energies pertains to the LAPA SW development project in in the Santos Basin in Brazil, while the second contract from Equinor is for the…Continue readingSaipem wins $900m worth contracts from Total Energies and Equinor
Financial institutions signed up to GFANZ initiative accused of acting as ‘climate arsonists’.Continue readingBanks still investing heavily in fossil fuels despite net zero pledges – study
“New gas volumes will be key to enabling the development of new value chains for hydrogen for Europe.”Continue readingNorway offers 47 new offshore production licences to 25 oil companies
Woodside Energy, Santos and BHP among companies who have sponsorship deals with Australian arts, sport, education and community organisationsContinue readingFossil fuel interests revealed to have sponsored more than 500 Australian community organisations
From Petrobras’ own platform portfolio, the P-71 is an FPSO (floating unit for the production, storage, and transfer of oil and gas) type with capacity to process up to…Continue readingPetrobras announces start of P-71 production
The phase II of Johan Sverdrup project entails an investment of NOK48bn ($4.8bn) and includes a new platform, five new subsea systems, 28 new wells, a new module for…Continue readingEquinor begins production from Johan Sverdrup Phase 2 project
Saudi Arabia posted a budget surplus of US$27 billion (SR102bn) this year and 8.5% economic growth as the kingdom enjoys a petrodollar windfall from high oil prices. Revenues are…Continue readingSaudi Arabia posts surplus of 27 billion US dollars with oil windfall
The analysis, by the Global Carbon Project, calculates Earth’s “carbon budget“, which is how much CO₂ humans have released, and how much has been removed from the atmosphere by…Continue readingGlobal carbon emissions at record levels with no signs of shrinking
The Venezuelan government and the opposition returned to political negotiations in Mexico — suspended for more than a year — and signed a rare humanitarian agreement that seeks to…Continue readingChevron to resume Venezuela oil production
BP’s US boss said Washington’s new climate law would put its green plans in the US “on steroids”, even as the oil supermajor says it will expand its shale…Continue readingBP praises Biden climate law while expanding US shale operations
Tens of thousands of delegates have descended on Sharm el-Sheikh, an Egyptian resort town, for COP27, the UN climate summit. Of the 33,000-odd that registered, about 16,000 represent the…Continue readingWhat is the fossil-fuel industry doing at COP27?
Before President Biden lambasted oil companies for excess profits and threatened to slap a “windfall tax” on them, several of his top energy advisers privately attempted to woo that…Continue readingBiden courted oil companies before threatening them with windfall tax
Greenhouse Gas Emissions on this site has been updated with newly published data from the Global Carbon Project.Continue readingUpdate to Greenhouse Gas Emissions
ExxonMobil’s Uaru development is targeting approximately 1.319 billion barrels of oil. MODEC has won a contract to undertake engineering and design for a floating production, storage, and offloading vessel…Continue readingMODEC wins contract for FPSO of ExxonMobil’s Uaru oil project
The Ugandan government has secured support from the African, Caribbean, Pacific -European Union (ACP-EU) for proceeding with the East African crude oil pipeline project (EACOP), a 1,443km (896 mile)…Continue readingUganda secures support from ACP-EU for East African crude oil pipeline
The fossil fuel industry is experiencing a remarkable rebound, with sudden momentum behind more than 80 projects that range from coal-fired power plants to hulking gas export terminals, many…Continue readingFossil fuel projects were stalled a year ago. Now they’re making a comeback.
ExxonMobil reported $19.7 billion in third-quarter net profit, or $4.68 a share, almost triple the $6.8 billion, or $1.57 a share, earned a year ago. The company was “driving…Continue readingExxon profit triples to record $20 billion
Norwegian oil and gas major Equinor said that Peregrino phase 2 was executed within the original cost estimate of $3 billion. The phase 2 project is aimed at extending…Continue readingEquinor begins production from $3 billion project in Brazil
Fracking and drilling for new oil and gas in the North Sea is green and good for the environment, Liz Truss’s new climate minister said on Wednesday. Graham Stuart…Continue readingUK fracking and oil drilling good for environment, claims climate minister
Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company (TAQA) have closed financing for a $3.8 billion project to decarbonise ADNOC’s offshore oil and gas extraction…Continue readingADNOC and TAQA close financing for 3.8 billion dollar decarbonisation of oil and gas extraction
The Biden administration on Wednesday reinstated $190 million worth of leases to companies bidding to explore for oil and gas in the Gulf of Mexico. The administration sought to…Continue readingU.S. administration awards Gulf of Mexico drilling leases to oil giants
Woodside Energy, Australia’s largest energy producer, on Tuesday capped a string of bumper results by oil, gas and coal producers. The Perth-based company said its net profit after tax…Continue readingHuge profits for fossil-fuel giants Woodside, Whitehaven and Santos
PetroChina Co., Sinopec and Cnooc Ltd. each said they made historic amounts of money in the January-to-June period. PetroChina’s chairman said government stimulus packages are bolstering oil demand, while…Continue readingChina’s oil giants post record profits on surging fuel prices
Global public subsidies for fossil fuels almost doubled to $700 billion in 2021. Despite the huge profits of fossil fuel companies, the subsidies soared as governments sought to shield…Continue readingGlobal fossil fuel subsidies almost doubled in 2021
State-owned oil and gas company Indian Oil has unveiled a $25 billion investment plan to achieve net-zero operational emissions by 2046. Indian Oil chairman S M Vaidya said: “IndianOil…Continue readingIndian Oil unveils $25 billion investment plan to achieve net zero by 2046
Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production. Revenue climbed 80% to $150 billion and free cash…Continue readingSaudi Aramco posts biggest quarterly profit of any listed company