CDN and International News - Today in Oil and Gas

TotalEnergies Investors Back CEO at AGM, Weaker Support for Climate Strategy

Summary TotalEnergies holds AGM on Friday Vote to back company’s climate strategy weaker than last year Activists target both TotalEnergies and investor Amundi (Reuters) – Shareholders in French oil and gas major TotalEnergies largely backed the company’s strategy and its CEO on Friday, but support has weakened since last year as some investors called out its …

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Oil Posts Weekly Loss as Interest Rate Policy Spurs Fuel Demand Worries

Summary Brent settles 2.1% lower for the week Interest rate policy, rise in crude oil stocks weigh Oil rig count unchanged, Baker Hughes data Market awaits OPEC+ June 2 online meeting (Reuters) – Oil prices rose about 1% on Friday, but fell for the week on worries that strong U.S. economic data would keep interest …

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Saudi Arabia Plans Aramco Share Sale as Soon as June, Sources Say

CDN and International News, Energy Topics & Technology, Finance, Latest / By mark

(Reuters) – Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco as soon as June in what would be one of the region’s biggest stock deals, two people familiar with the matter said. The offering could raise around $10 billion, one of the people said. The preparations are ongoing and the details could …

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Guyana May Reallocate Gas Areas if Exxon Does Not Move Project Forward

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An Exxon Mobil-led oil consortium may need to decide by October whether it will go ahead and develop a large natural gas find off the coast of Guyana, the country’s vice president said on Thursday. The government has been pressing for a bonanza from mostly untapped gas reserves found by the Exxon-led group. The consortium, which …

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France Less Attractive for Renewable Investment than Other Countries, TotalEnergies Says

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PARIS, May 23 – Sluggish project approvals and the fact that wind power is sold to the government, rather than directly to customers, make France less attractive than some other countries for renewable investments, according to the director of TotalEnergies France. Isabelle Patrier was speaking ahead of TotalEnergies’ inauguration on Friday of a 63-megawatt wind …

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Shell Sees Emerging Asian Markets Taking More of World’s Growing LNG Supply

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(Reuters) – Shell expects its Australian supplies of liquefied natural gas (LNG) to help meet demand from emerging markets in south and southeast Asia, which are tipped to absorb some of the pick up in global supplies towards the end of this decade. Asian spot LNG prices rose last week to the highest levels since …

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Australia’s LNG Sector is Long-Term Bullish, but Needs a Carbon Price

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(Reuters) – Australia’s natural gas producers are increasingly confident that their fuel is vital to the energy transition and will play a role across Asia up to and beyond the 2050 net-zero emissions targets of companies and countries. This optimism was on full display at the industry’s annual gathering in the capital city of Western …

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Shell Investors Ok Weaker Emissions Targets at Meeting

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Chief executive Wael Sawan said he’s “very pleased” with the result Bloomberg News “I’m very pleased with what we’ve got” in support from investors, Shell chief executive Wael Sawan said on the sidelines of the meeting in London. “And I’m pleased that we have seen the Follow This resolution, get an even lower share of …

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Global Carbon Emissions Pricing Raised Record $104 Billion in 2023

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Countries raised a record $104 billion last year by charging firms for emitting carbon dioxide, but prices remain too low to drive changes needed to meet Paris climate accord targets, the World Bank said in a report on Tuesday. Several countries are using a price on carbon emissions to help meet their climate goals by …

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Oil Shipments at Risk From Rising Sea Levels, Think Tank Warns

CDN and International News, Conventional Energy, Latest, Oil / By mark

(Reuters) – Rising sea levels could severely disrupt crude oil shipments and erode energy security in import-dependent countries like China, South Korea and Japan, with many of the world’s biggest terminals vulnerable to flooding, researchers said on Tuesday. Melting ice and swelling seas caused by rising temperatures could “unleash unstoppable multi-metre (sea level rise) which …

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