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North Sea oil and gas producers are merging and shifting overseas as Britain’s windfall tax slashes profits and as the opposition Labour Party threatens more tax if it wins the next general election. The change of strategy could accelerate the decline of domestic production, risking increased dependency on imports, greater vulnerability to higher consumer prices …
North Sea energy Firms Look Beyond UK After Tax Squeeze Read More »
By George Hay and Yawen Chen (Reuters Breakingviews) – The Middle East’s key generator of instability just got even harder to read. As demonstrated by its recent missile attacks on Israel, Iran is one of the main reasons why global investors hesitate to commit too much capital to the region. The death of President Ebrahim …
President’s Death Makes Iran Even Less Predictable Read More »
Shipping’s global regulator is pushing the industry to achieve net zero greenhouse gas emissions by mid-century. Getting there will mean transforming a sector that’s still largely powered by fossil fuels and accounts for about 3% of human-made carbon dioxide. 1. What’s the current state of play? Shipping carries more than 80% of world trade and in total emitted more …
How the Shipping Industry Is Trying to Cut Its Billion Tons of CO2 Emissions Read More »
New out-of-control blaze springs up north of Fort McMurray Earlier fire grew in size overnight and came closer to city The unofficial capital of Canada’s oil-sands industry is now facing a second wildfire that’s north of the city and closer to major energy operations. The new blaze near Fort McMurray, Alberta, is about 3 hectares …
Oil-Sands Capital of Canada Now Grappling With Second Wildfire Read More »
Bloomberg Qatar’s energy minister yesterday shared a stage with the bosses of Exxon Mobil Corp. and TotalEnergies SE — the second time in three weeks he’d joined Big Oil to discuss the green transition. But the main takeaway from the forum in Doha? Gas is here to stay. The outlook of the two supermajors and …
Big Bets on Gas Demand Show Fuel Is Far From Fading Read More »
Gas demand will keep growing as economies expand: minister Middle Eastern nation is already increasing its LNG capacity Demand for natural gas will keep growing and more supply projects will be required globally beyond 2030, Qatar’s energy minister said. The comments from one of the world’s biggest suppliers of liquefied natural gas come amid fears of a …
Qatar Says New Global LNG Projects Will Be Needed After 2030 Read More »
Ministers from the OPEC+ group of oil producers must agree to raise output when they meet June 1 if they really want to balance the market. That’s the implication of figures published by analysts at the Organization of Petroleum Exporting Countries and their counterparts at the International Energy Agency. OPEC published its monthly forecast Tuesday, …
OPEC+ Decision on Output Likely to Prioritize Dollars Over Demand Read More »
The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Wednesday, further expanding the chasm between it and oil producer group OPEC regarding the outlook for global oil demand this year. The Paris-based energy watchdog lowered its growth outlook for this year by 140,000 barrels per day (bpd) to 1.1 million …
IEA Trims 2024 Oil Demand Growth Forecast, Widening Gap with OPEC View Read More »
His company, Irving Oil, owns more than 900 gas stations ‘He’ll be considered one of the great oilmen in North America’ Arthur L. Irving, the Canadian billionaire who modernized the nation’s largest refinery, expanded a network of service stations bearing his family’s name and helped win support for a cross-country oil pipeline, has died. He …
Arthur L. Irving, Billionaire Canadian Oilman, Dies at 93 Read More »
Equinor now plays an outsized role in the ups and downs of the continent’s gas prices When the world’s top gas traders met in late April at a canal-side hotel on the outskirts of Amsterdam, the atmosphere was business-as-usual: coffee, croissants and wrangling over deals for the upcoming winter. Then came news of a leak …
Europe’s Gas Supply Once Again Hinges on One Company Read More »
