Oil and Gas

               
Oklahoma sues two energy companies, accusing them of…
According to a press release from the Oklahoma Attorney General's office on Wednesday, the state has filed a lawsuit against two energy companies, alleging manipulation…
               
EU lawmakers pass law to limit methane emissions…
On Wednesday, European Union lawmakers approved a groundbreaking law aimed at curbing methane emissions from Europe’s oil and gas imports starting in 2030. This move…
               
China’s power firm revamps natural gas business post…
GCL Holdings, a privately owned Chinese energy company, is shifting its focus to developing a natural gas business. According to company executives interviewed by Reuters,…
               
BlackRock CEO reaffirms investment in oil and gas…
BlackRock CEO Larry Fink reiterated the firm's commitment to investing in oil and gas companies, emphasizing that they have never supported divesting from traditional energy…
               
Activists urge major banks to halt financing for…
Over 80 organizations, including Make My Money Matter, Greenpeace UK, and Global Witness, have collectively penned letters to the chief executives of 12 major banks,…
               
Biden administration reassures oil and gas executives amid…
The Biden administration aims to ease concerns among oil and gas executives regarding a pause on liquefied natural gas (LNG) exports from new projects, assuring…
               
Fossil fuel firms could face homicide charges for…
A groundbreaking legal theory is gaining traction among researchers, suggesting that fossil fuel companies, identified as the primary contributors to planet-warming emissions, could be held…
               
HSBC, NatWest face allegations of funding North Sea…
Two prominent UK high street banks stand accused of continuing to finance the expansion of fossil fuels in the North Sea despite having pledged to…
               
Chevron resolves Kern County oil spills with $13…
According to the California natural resources agency on Wednesday, Chevron has agreed to settle with two California state agencies for previous oil spills in Kern…
               
US-China take proactive steps in methane emission reduction,…
According to the deputy US special envoy on climate change, cooperation between the United States and China regarding methane reduction is progressing. He highlighted an…
               
UAE strikes 15-year LNG deal with Germany
In a significant move consolidating Europe's dependence on fossil fuels, the United Arab Emirates (UAE) has inked a deal to supply liquefied natural gas (LNG)…
               
Global oil and gas industry poised for $125…
The international oil and gas sector, alongside the Middle East's national oil companies, is gearing up to greenlight an impressive array of projects this year,…
               
Exxon CEO takes aggressive climate stance amid industry…
Darren Woods, the CEO of Exxon Mobil Corp., is fighting back after facing criticism from both environmentalists and investors during his seven years in charge. 
               
Top oil executives & ministers arrive at the…
This week, oil industry leaders and government officials gather in Houston for a significant energy conference, encouraged by major mergers, stable oil prices, and less…
               
Study finds US oil and gas industry methane…
A comprehensive study published in the journal Nature reveals that methane emissions from US oil and natural gas operations are three times higher than previously…
               
Shell revises 2030 carbon emissions reduction target 
Shell announced on Thursday that it had revised its target to reduce the intensity of its overall carbon emissions by 2030, attributing this adjustment to…
               
Texas pushes back against EPA’s new methane rule
In a move against federal regulations, Texas, the largest energy-producing state in the nation, lodged a complaint urging a court to halt a recent rule…
               
Biden EPA trims power-plant rule, eyes future gas…
The Biden administration is refining its plan to reduce greenhouse gases from electricity and will set stricter pollution limits for natural gas plants. 
               
EPA targets oil and gas industry with new…
The Environmental Protection Agency (EPA) is set to introduce a new rule aimed at curbing methane emissions from the oil and gas industry. The rule,…
               
DOE and EPA to offer $1 billion in…
In a joint effort, the US Department of Energy (DOE) and the US Environmental Protection Agency (EPA) have announced plans to issue a Funding Opportunity…
               
EU eases gas consumption rules as energy crisis…
The European Commission urges EU nations to continue reducing gas usage but has made the policy voluntary, showing optimism that the worst of Europe's energy…
               
Glencore to buy Shell’s Singapore assets as earlier…
Glencore, a Swiss miner and commodities trader, is considering purchasing Shell's oil refinery and petrochemical units in Singapore. 
               
Braya completes conversion of refinery, starts renewable diesel…
On Thursday, Braya Renewable Fuels started producing renewable diesel at Canada's Come-by-Chance refinery post its transition.
               
Brazil’s state run oil firm to invest $1.5…
Petrobras and its partners plan to invest about $1.5 billion to introduce decarbonization technology in one of their oilfields, according to the firm's CEO Jean…
               
Protest at PM Sunak’s residence lands climate activists…
Three Greenpeace activists will face charges for climbing onto Prime Minister Rishi Sunak's home in protest against the government's plan to grant numerous North Sea…
               
Asia pioneers in sustainable aviation fuel projects
Sustainable Aviation Fuel (SAF) are alternative fuels made from renewable sources for airplanes, which is essential for the aviation sector to achieve its goal of…
               
Wall Street gives seal of approval to the…
The recent $26 billion merger of two Texas oil companies marks the latest in a series of deals propelling the era of Big Shale. Wall…
               
European ethanol producers challenge EU’s Aviation Biofuel Regulation…
European renewable ethanol producers have initiated legal action against the EU's RefuelEU Aviation Regulation, arguing that it unfairly excludes crop-based biofuels from efforts to mitigate…
               
Google to help track methane polluters from space 
Tech giant Google will partner with the Environmental Defense Fund (EDF) to track methane emissions using the MethaneSAT satellite scheduled to take off into orbit…
               
Three COP summit hosts come together to accelerate…
The United Arab Emirates, which hosted COP28 last year, along with Azerbaijan and Brazil, hosts of the upcoming UN climate summits, announced on Tuesday their…
               
New analysis raises concerns over Woodside Energy’s net-zero…
An in-depth analysis by the Australian Conservation Foundation has found that Woodside Energy Group, Australia’s largest oil and gas producer, does not have a robust…
               
US Government to fund methane reduction projects 
On Friday, the US Environmental Protection Agency (EPA) and the Department of Energy (DOE) released a notice of intent to fund projects that aim to…
               
Barclays to stop financing oil & gas industry 
Barclays, Britain's largest lender to the oil and gas sector, told Reuters that it would stop directly financing new oil and gas fields and limit…
               
Dutch healthcare pension fund divests from fossil fuels…
The Dutch healthcare workers' pension fund PFZW announced on Thursday that it had sold nearly all its investments in fossil fuel companies, including major players…
               
ITFC signs $2.1 billion deal with Bangladesh for…
According to energy officials, the International Islamic Trade Finance Corporation (ITFC) has inked a significant $2.1 billion financing plan with Bangladesh to support the nation's…
               
India Energy Week 2024: PM Modi propels $67…
Indian Prime Minister Narendra Modi, inaugurating the second edition of India Energy Week 2024 in Goa on February 6, said India offers opportunities for $67…
               
ONGC joins hands with TotalEnergies to detect and…
During India Energy Week 2024 (February 6-9 in Goa), ONGC signed a cooperation agreement with TotalEnergies for methane emissions detection and measurement campaigns. TotalEnergies’ AUSEA…
               
Environmental Agency to review complaint on emissions from…
On Tuesday, the Commission for Environmental Cooperation (CEC), responsible for environmental matters in the US, Mexico, and Canada, announced that it would assess a complaint…
               
BP will explore potential partnerships for solar business:…
Oil giant BP is considering getting other companies involved with Lightsource BP, a solar development company, to profit more from its rapidly growing business, CEO…
               
Gasum to build a new biogas plant in…
Energy company Gasum announced its decision to invest in a new biogas plant in Borlänge, Sweden. The project has been granted a subsidy of 15…
               
Indian Oil and Gas PSUs unveil ambitious investment…
In a strategic move to bolster the country's energy infrastructure, major players in India's oil and natural gas sector, including the Oil and Natural Gas…
               
Activist investors withdraw Exxon’s climate proposal 
Exxon Mobil stated in a court filing on Thursday that activist investors are backing down from a climate proposal. 
               
US House to vote on overturning Biden’s freeze…
The US House of Representatives, next week, will decide whether to cancel the Biden administration's temporary block on approving the export of liquefied natural gas…
               
Sustainable aviation fuel crunch can hamper airlines’ climate…
Airlines are finding it difficult to obtain and use lower-carbon fuels due to a shortage in supply and high costs, according to Cathay Pacific's head…
               
Exxon’s lawsuit concerns shareholders advocating environmental and social…
Shareholders who use resolutions to push companies on environmental and social matters are concerned that a lawsuit by Exxon Mobil, skipping the US securities regulator,…
               
California breaks century-old ties with Big Oil 
California, a big player in producing oil, is now breaking ties with the oil industry, a significant move to shift away from fossil fuels as…
               
Repsol chooses Vissim’s advanced oil spill detection for…
Repsol Norge, a Norwegian multi-energy company has entered into a contract with Vissim to deploy an advanced oil spill detection system at the Yme Field…
               
Worries rise over methane emissions as world’s largest…
As the world's largest cruise ship, Icon of Seas, began its maiden voyage on Saturday from Miami, environmental groups are concerned about the release of…
               
Trinidad and Tobago explores further gas deals with…
Trinidad and Tobago is set to enhance their natural gas supply by pursuing additional deals with Venezuela after receiving a license to extract from the…
               
Upcoming Biden policy to impact natural gas exports,…
The Biden administration is expected to announce plans in the coming days to increase environmental scrutiny on applications for natural gas exports. 
               
UAE’s Alpha MBM Investments emerges as preferred bidder…
The Ugandan government has chosen Alpha MBM Investments from the United Arab Emirates (UAE) as the preferred bidder for its ambitious $4 billion oil refinery…
               
US oil refiners urge Biden administration to reform…
US oil refiners, including Coffeyville Resources Refining and Marketing and Wynnewood Refining Company, are urging President Biden's administration to change the renewable fuel credit program. 
               
Brazil’s state-run oil firm to buy stakes in…
Brazil's state-owned oil company, Petrobras, plans to acquire shares in domestic onshore wind and solar projects this year, aiming to build a renewable energy portfolio…
               
Oil giant Exxon files lawsuit against climate activist…
Exxon Mobil Corp filed a complaint in a Texas court on Sunday to block a climate proposal by activist investors from being voted on during…
               
Norwegian oil and gas firms target Arctic Barents…
Oil and gas companies operating offshore Norway, including Equinor, Aker BP, and Vår Energi, are intensifying their exploration efforts in the Arctic Barents Sea to…
               
Shell to exit nearly a century of Nigerian…
Shell is set to conclude almost 100 years of onshore oil and gas operations in Nigeria by selling its subsidiary to a consortium of local…
               
BP, Sinopec sign MoU to strengthen cooperation in…
China’s oil major Sinopec and BP signed a memorandum of understanding (MoU) at the World Economic Forum in Davos. The agreement aims to enhance cooperation…
               
Climate advisors tell EU to revamp its existing…
Official advisors have told the European Union to revise its climate policies to promptly move towards the phase-out of fossil fuels and achieve climate targets…
               
Oil and Gas decarbonization: Here at the top…
The year 2024 has seen decarbonization as a prevailing buzzword, reflecting the emphasis by counties and industries on reducing carbon emissions and switching to sustainable…
               
27 major investors co-file climate resolution at Shell 
Twenty-seven major investors, who own around 5% of Shell’s stock have escalated pressure on Shell to take climate action. The shareholder resolution requests Shell to…
               
Countries are trying to opt out of COP28…
According to US Vice President Al Gore, some nations are trying to push out of the landmark agreement, made at the UN climate summit COP28,…
               
Methane drama: Republicans smash EPA; big oil’s involvement…
The US Environmental Protection Agency (EPA) has come under fire from House Republicans for its Methane Emissions Reduction Program. 
               
Dutch-Caribbean island files lawsuit, urges more measures over…
A lawsuit was filed by the residents of the Dutch-Caribbean island of Bonaire, on Thursday, against the Dutch state demanding the government take more effective…
               
Biden’s climate policy shift creates hurdles for LNG…
The Biden administration is reassessing the environmental standards applied in approving upcoming liquefied natural gas export facilities, potentially causing delays in ongoing projects as the…
               
US Supreme Court rejects Exxon Mobil’s bid for…
The US Supreme Court has declined the request for a crucial procedural boost sought by Exxon Mobil Corp., Koch Industries Inc., and the American Petroleum…
               
COP29 host Azerbaijan to ramp up fossil fuel…
Azerbaijan, the host of this year's UN climate talks, is planning to boost its fossil fuel production by a third over the next decade, as…
               
US clears $189 million loan to fund real-time…
The Department of Energy's loan office, on Friday, conditionally approved a $189 million loan to facilitate the establishment of a methane monitoring network in crucial…
               
India to cut energy transition by half to…
India is intending to reduce equity investment by half, amounting to $1.8 billion for the fiscal year 2023/24, to support the green energy initiatives of…
               
France aims to cut fossil fuel share to…
France is set to target a reduction in the proportion of fossil fuels in its energy consumption mix to 40%, down from over 60%, by…
               
Azerbaijan appoints Ecology Minister and Ex-Oil Executive as…
Azerbaijan has chosen Mukhtar Babayev, the current Ecology Minister, to lead the upcoming global climate talks, COP29, scheduled to take place later this year in…
               
Republicans target Biden’s $400 billion Green Bank, recalling…
Congressional Republicans are targeting President Joe Biden’s $400 billion green bank, aiming to replicate the political success they achieved in 2011 with the scandal surrounding…
               
Chevron to take a $4 billion hit from…
Oil giant Chevron Corp is set to incur a write-down of asset value ranging from $3.5 billion to $4 billion, citing restrictive government policies in…
               
West Texas earthquake rate plummets after crackdown on…
In 2023, West Texas witnessed a notable decrease in earthquake frequency, marking the first such decline in over five years. This shift followed regulatory actions…
               
ING faces public outcry as climate activists block…
The Amsterdam police detained around 300 climate activists on Saturday after they blocked a key highway in the Dutch capital for several hours. 
               
CCH health officials say PBF Energy faced 46…
Health officials from Contra Costa County (CCH) in California issued a letter to PBF Energy's Martinez refining company on Thursday, expressing their dissatisfaction with the…
               
QatarEnergy secures five-year crude sales deal with Shell…
QatarEnergy, the energy company of Qatar, has inked a landmark agreement with Shell International Eastern Trading Company, marking its inaugural five-year crude sales deal. 
               
California County conducts surprise check at PBF’s Martinez…
On Tuesday, health authorities in Contra Costa County, California, announced an impromptu inspection at PBF Energy's refinery in Martinez, with a capacity of 156,400 barrels…
               
US industry consolidation to give big oil players…
In 2023, the oil and gas industry went on a $250 billion buying spree. They took advantage of high stock prices to secure cheaper reserves…
               
Norway’s November oil production falls below forecasts, gas…
Norway's November oil production, natural gas liquids (NGL), and condensate production have been reported in the Norwegian Petroleum Directorate's (NPD) recent release, showing an average…
               
London’s High Court throws out $11billion damages bill…
In a landmark ruling, London's High Court has dismissed an $11 billion damages claim against Nigeria over a collapsed gas processing project, citing bribery allegations…
               
Uganda renews Nigerian firm’s oil exploration license by…
Uganda's Ministry of Oil has announced the approval of a two-year renewal for the oil exploration license granted to the Nigerian company Oranto Petroleum Limited. 
               
BP halts oil shipments through Red Sea amid…
BP Plc, a British oil giant, has hit pause on their oil tanker journeys through the Red Sea due to a surge in attacks by…
Woodside’s shareholder rejects climate plan

Woodside’s shareholders on Wednesday voted against the company’s climate plan, halting its plan for new fossil fuel projects and dealing a significant blow to Australia’s […]

Calls mount for accelerated action on sustainable finance taxonomy in Canada

In two separate open letters released recently, advocates have urged the Canadian federal government to expedite the development of a sustainable finance taxonomy aimed at […]

Australian securities regulator urges firms to prepare for mandatory climate disclosure rules

Joe Longo, Chair of the Australian Securities and Investments Commission (ASIC), has underscored the necessity for Australian businesses to ready themselves for forthcoming mandatory climate […]

Scotiabank’s 2024 Net Zero Research Fund calls out for grant submissions

Scotiabank, one of Canada’s largest multinational banking firms in Toronto, revealed its call for grant submissions. The Net-Zero Research Fund is open to organizations within […]

Biden administration announces $7 billion grants for residential solar projects on Earth Day

In a landmark move coinciding with Earth Day, the Joe Biden administration unveiled a $7 billion initiative aimed at facilitating the installation of residential solar […]

Climate bonds standard expands certification to promote deforestation-free agri-food chains

In response to the urgent need for sustainable agri-food systems amidst climate change and biodiversity loss, the Climate Bonds Standard has broadened its Certification to […]