More than 400 oil and gas projects were approved globally in the last two years despite calls to abandon all new hydrocarbon development, new figures showed as the UN…Continue readingHundreds of new oil and gas projects approved despite climate crisis
Tag: oil
Fine particulate matter, or PM2.5, is a term for fine particulates that are typically the by-product of car exhausts or coal-fired power plants. Their tiny size enables them to…Continue readingAir pollution behind over 250,000 deaths in Europe in 2021: agency
The UK government presented the Offshore Petroleum Licensing Bill to Parliament with the aim of enhancing the country’s economy, ensuring energy security, and facilitating the transition to a net-zero…Continue readingUK Government tables Offshore Petroleum Licensing Bill in parliament
The world’s fossil fuel producers are planning expansions that would blow the planet’s carbon budget twice over, a UN report has found. Experts called the plans “insanity” which “throw…Continue reading‘Insanity’: petrostates planning huge expansion of fossil fuels
British oil and gas company BP, together with its partners Neptune Energy and JAPEX, has started production from the Seagull oil and gas field in the UK North Sea.…Continue readingBP, Neptune, JAPEX start production from Seagull field in UK North Sea
Saudi Aramco’s net profits surpassed analyst expectations as it revealed the impact of deeper production cuts this summer after the kingdom moved to prop up the oil price. The…Continue readingSaudi Aramco profits exceed expectations on back of buoyed oil price
ExxonMobil has signed an all-stock deal worth $59.5bn to acquire Pioneer Natural Resources, an American publicly listed company focused on upstream operations in the Permian shale basin. The merger…Continue readingExxonMobil signs $60bn all-stock deal to acquire Pioneer Natural Resources
Chevron has agreed to acquire rival American publicly listed oil and gas company Hess in an all-stock deal worth $53bn in a move to upgrade and diversify its portfolio.…Continue readingChevron signs $53bn all-stock deal to acquire rival oil and gas firm Hess
Seatrium Limited announced the successful delivery of the Floating Production Unit (FPU), Whale, for deployment in the Gulf of Mexico, in accordance with the contract secured in November 2019…Continue readingSeatrium delivers floating production unit for Gulf of Mexico project
ExxonMobil is buying itsoil and gas rival Pioneer Natural Resources in a $59.5 billion megadeal. The latest ExxonMobil deal creates a shale-drilling behemoth in the U.S. Permian Basin, where…Continue readingExxonMobil doubles down on fossil fuels with $59.5 billion Pioneer deal
There is “no contradiction” between Brazil’s plans to step up oil and gas exploration, including in waters off the Amazon rainforest, and its aspiration to lead the world’s transition…Continue readingBrazil minister says oil and green ambitions are not contradictory
Australian oil and gas company Woodside Energy announced that its Shenzi North project has commenced production in the deepwater US Gulf of Mexico. Discovered in 2002, the Shenzi platform…Continue readingWoodside announces start of production at Shenzi North project
Urgewald, a campaign group that tracks global fossil fuel finance, found that the World Bank supplied about $3.7bn (£2.95bn) in trade finance in 2022 that was likely to have…Continue readingWorld Bank spent billions of dollars backing fossil fuels in 2022
The Baleine field will see a multi-phase development to exploit the estimated 2.5 billion barrels of oil and 3.3 trillion cubic feet of associated gas in place.Continue readingEni starts production from Baleine oil and gas field in Côte d’Ivoire
The intent of the project is to boost production by 26 million barrels of oil equivalents from the satellite field of the Statfjord oil and gas field. The oil…Continue readingEquinor begins production from Statfjord Øst expansion project in North Sea
U.S. oil production — already the highest in the world — is on track to set a new record this year, and will probably rise even more in 2024.…Continue readingThe U.S. is pumping oil faster than ever. Republicans don’t care.
Fossil fuels benefited from record subsidies of $13 million (£10.3m) a minute in 2022, according to the International Monetary Fund, despite being the primary cause of the climate crisis.…Continue readingFossil fuels being subsidised at rate of $13m a minute
Demand reached an all-time high of 103mn barrels a day in June driven by better than expected economic growth in OECD countries, strong summer air travel and surging oil…Continue readingGlobal oil demand hits record and may move higher, says International Energy Agency
Natural gas from the world’s second-largest shale gas reserve in Patagonia will reach Buenos Aires in the coming weeks through a new pipeline, marking a milestone in Argentina’s push…Continue readingArgentina hits milestone on path to gas export bonanza
Grant Shapps, energy minister, has insisted that the government will “max out” the UK’s remaining reserves of North Sea oil and gas, arguing this is compatible with Britain’s pledge…Continue readingGrant Shapps vows to ‘max out’ UK’s North Sea oil and gas reserves
Carbon emissions from China are growing faster now than before COVID-19 struck, data show, dashing hopes the pandemic may have put the world’s most polluting nation on a new…Continue readingChina is pumping out carbon emissions as if COVID never happened. That’s bad news for the climate crisis
Norway’s government gave the green light to 19 oil and gas projects worth more than 200 billion kroner ($18.6 billion). The 19 projects involve the opening of new fields,…Continue readingNorway approves fossil fuel projects
UN secretary-general António Guterres attacked oil and gas industry attempts to justify fossil fuel expansion with carbon capture technology as “proposals to become more efficient planet wreckers”, in a…Continue readingUN chief attacks oil and gas industry ‘planet wreckers’ over fossil fuel expansion
Trillions of dollars of subsidies for fossil fuels, farming and fishing are causing “environmental havoc”, according to the World Bank, severely harming people and the planet. The “toxic” subsidies…Continue readingVast fossil fuel and farming subsidies causing ‘environmental havoc’
Already, the Beijing office of Greenpeace is sounding the alarm. In the first three months of 2023, provincial governments in China approved more new coal-fired electricity generation than they…Continue readingChina ramps up coal power while pushing for renewables
Shell has abandoned plans to cut oil production each year for the rest of the decade, in a shift in approach to firmly target fossil fuels and increase payouts…Continue readingShell drops target to cut oil production as CEO aims for higher profits
Countries didn’t get around to talking about plastic until the third day out of five, stuck in a prolonged debate over voting rules and points of procedure — led…Continue readingGlobal plastic treaty talks limp on despite blockade by oil-rich countries
The United Arab Emirates’ state oil company has been able to read emails to and from the COP28 climate summit office and was consulted on how to respond to…Continue reading‘Absolute scandal’: UAE state oil firm able to read COP28 climate summit emails
After receiving the £430m loan, Wood grew its upstream oil and gas business by 17% so that it accounted for more than $3bn (£2.4bn) in revenue in 2022, up…Continue readingUK firm given £430m green transition loan then expanded oil and gas business
The UK government is under attack for investing taxpayers’ money in fossil fuel companies, a hospital in Kenya accused of imprisoning patients who couldn’t pay for treatment, and a…Continue readingUK government under fire for investing overseas aid in fossil fuel firms
United Nations climate chief says while the rapid end of burning coal, oil, and natural gas is urgently needed, the topic may not even reach crucial COP28 negotiations.Continue readingWill fossil fuel phase-out make it onto the UN’s climate agenda?
To help extract oil, companies pump large quantities of water into the ground. For each barrel of oil, many of which are later exported to Europe, up to three…Continue readingIraq’s oil boom blamed for worsening water crisis in drought-hit south
With a daily production capacity of up to 150,000 barrels of oil and six million m3 of gas, FPSO (Floating Production Storage and Offloading) Almirante Barroso is located 180km…Continue readingPetrobras starts production of FPSO Almirante Barroso in Búzios field
About USD 2.8 trillion is set to be invested in energy globally in 2023, USD 1.7 trillion of which will go to clean technologies. The remaining roughly USD 1…Continue readingHumanity still investing in fossil fuels
French oil and gas major TotalEnergies has announced a 20-year renewal of the production license of the offshore Nigerian block OML130 in the Gulf of Guinea. In December 2018,…Continue readingTotalEnergies renews offshore Nigerian block OML130 for 20 years
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
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
Communities around the world emitted more carbon dioxide in 2022 than in any other year on records dating to 1900, a result of air travel rebounding from the pandemic…Continue readingCarbon dioxide emissions reached a record high in 2022
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
Risks are cascading and underestimated, new climate extremes recorded, and the conclusion.Continue readingFaster, higher, hotter: What we learned about the climate system in 2022: Part 3
2°C degrees is not a point of system stability, we are heading towards 3°C or more, and system-level change and tipping points are happening faster than forecast.Continue readingFaster, higher, hotter: What we learned about the climate system in 2022: Part 2
Record emissions, the 1.5°C target, what about overshooting 1.5°C and cooling back to that level by 2100?, and the likelihood of achieving the 2°C target.Continue readingFaster, higher, hotter: What we learned about the climate system in 2022: Part 1
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