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…
Tag: oil
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.…
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…
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…
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…
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…
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…
In recent years, Wall Street firms have tried to talk up their commitment to the environment and social justice. Now they are singing a different…
Temperatures have soared up to nearly 50˚C (122˚F) in Baghdad almost daily, and in the southern city of Basra, temperatures have come close to 53˚C…
Coal – France, Italy, Austria and the Netherlands have all announced plans to reactivate old coal power plants. But nowhere are the plans as extensive…
Moscow-based integrated energy company Rosneft has started production drilling at the Payakhskoye field on the Taimyr Peninsula in Russia. The field is part of Rosneft’s…
Wintershall Dea and its partners Sval Energi and Pandion Energy Norge have started production from the Nova oil field (previously Skarfjell) located in the Norwegian…
BP reported a profit of $8.5 billion for its second quarter on Tuesday, its biggest windfall in 14 years. Just days earlier, the two largest…
The nation’s biggest oil companies — ExxonMobil and Chevron — saw their profits roughly triple in the second-quarter. On Friday, Exxon reported net income of…
The UK-headquartered group, Europe’s largest oil company, reported adjusted earnings of $11.5 billion in the second three months of the year, breaking the record $9.1…
US president Joe Biden said he expected Saudi Arabia to take “further steps” to increase the supply of oil in the “coming weeks” following a…
In 2015, French oil giant TotalEnergies and the China National Offshore Oil Corporation (CNOOC) signed a memorandum of understanding (MOU) with the governments of Uganda…
The proposed program for offshore drilling between 2023 and 2028 would ban exploration off the Atlantic and Pacific coasts. But by leaving the possibility for…
Alberta’s producers — forced to contend with sub-zero oil prices just a couple of years ago — are using the windfall from $100 a barrel…
Oil and gas is back in fashion — at least on the stock market. Soaring fossil fuel prices, pushed higher by Russia’s invasion of Ukraine,…
The outgoing head of Australia’s offshore oil and gas regulator has helped hand out awards to fossil fuel companies, including Santos, Inpex and Beach Energy,…
Gautam Adani and Mukesh Ambani are profiting from a surge in global commodity prices triggered by Russia’s invasion of Ukraine, burnishing their fossil-fuel credentials even…
America’s shale oil companies are enjoying a cash bonanza, as soaring oil prices and months of capital restraint transform the fortunes and balance sheets of…
Saudi Aramco has overtaken Apple as the world’s most valuable company after higher oil prices pushed shares of the world’s biggest crude exporter to record…
Indonesian state-owned oil and natural gas company Pertamina has reportedly received approval for the $2.41 billion investment plan to expand the Rokan oil block. Pertamina…
The Guanabara floating production storage and offloading unit (FPSO) has been designed to process up to 180,000 barrels of oil per day and 12 million…
The Biden administration announced on Friday that it would resume selling leases for new oil and gas drilling on public lands. The Interior Department said…
As one of the world’s most famous game reserves, Murchison Falls National Park is home to some of the largest populations of elephants, giraffes, lions…
Canada’s environment minister approved Wednesday a controversial offshore oil project expected to see 300 million barrels of oil extracted over 30 years This is equivalent…
From the U.S. to China, in Europe, India and Japan, fossil fuels are staging a comeback, clean energy stocks are taking a hammering, and the…
For the past 15 years the world has been using more oil than the primary monitoring agency thought. The changes aren’t small. At 2.9 billion barrels,…
25 European banks have provided $US33 billion (£24 billion) in loans and other financing to 50 companies with large oil and gas expansion plans, less…
TotalEnergies & China’s CNOOC will drill more than 431 wells in Uganda and pump the crude in a pipeline heated to 50˚C 1,450km (900 miles)…
Total Energies is leaving it to others to meet the carbon reduction goals in the Paris agreement, after the Paris-based colossal fossil predicted the world…
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A minority coalition of the Labour Party and the rural Centre Party will take power after defeating the Conservative-led government in last month’s election. “The…
“We will supply energy to the world as long as the demand exists.”
