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
Tag: oil
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
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
Exxon was expected to record more than $56bn in profits in 2022 and Chevron is set to top $37bn, record highs for both companies, according to Wall Street estimates…Continue readingExxon and Chevron share $100bn in profit after surge in oil prices
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