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Canadian Banks’ Fossil-Fuel Exposure Outpaces U.S., European Peers

CDN and International News, Finance, Latest / By

Climate change group’s report highlights Canadian exposure About 5% of the country’s GDP stems from oil and gas sector Canada’s biggest banks are more than twice as exposed to the fossil-fuel business as their European and US counterparts, according to a report from climate change think tank InfluenceMap. The country’s largest lenders — Royal Bank of Canada, Toronto-Dominion …

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Cenovus Blasts Canadian Government Over Lack of Support for Carbon Capture

Carbon Capture, CDN and International News, Energy Topics & Technology, Latest / By

‘Stick-based approach with some carrots thrown in’ Bloomberg News Robert Tuttle Cenovus Energy Inc. blasted the Canadian government for not providing enough financial support for the oilsands industry’s proposed $16.5-billion carbon capture system. The federal government has proposed tax credits covering about half of the capital costs for the project, and Alberta has offered a 12 per …

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China Sets Tougher Energy Efficiency Goal After Falling Behind on 2025 Targets

CDN and International News, Latest, Renewable Energy, Solar / By

Summary China vows to cut energy intensity 2.5% in 2024 2023 intensity only fell by 0.5%, less than 2% target 2024 target won’t meet five-year plan goals, analysts say BEIJING, March 5 (Reuters) – China on Tuesday set more stringent energy intensity targets for 2024 after missing last year’s goal, as the world’s biggest energy …

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EU Wants Fossil Fuel Sector to Help Pay to Combat Climate Change, Draft Shows

CDN and International News, Latest / By

The European Union is set to call for the fossil fuel industry to help pay for fighting climate change in poorer countries under a United Nations target, a draft document shows, as nations prepare for talks this year on a global finance goal. This year’s U.N. climate negotiations in Baku, Azerbaijan, in November, are the …

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Qatar’s Gas Push Has a Hidden Motive – Murdering Coal

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, LNG / By

The nation is seeking to exploit the energy transition by boosting LNG production. By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” The energy transition will eventually be a zero-sum game — for …

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Qatar’s Gas Boost Will Bring Energy Dominance – and Lots of Cash

CDN and International News, Conventional Energy, Latest, LNG / By

The small Gulf nation plans to snag an even bigger share of the global natural gas trade, adding more than $30 billion to its annual revenue in the process. With a two-phase mega-expansion already underway and an enormous new buildout now on the horizon, the small Gulf nation of Qatar is setting itself up to control about …

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OPEC+ Members Extend Oil Output Cuts to Second Quarter

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

Summary OPEC+ producers to continue cuts of 2.2 million bpd Russia to deepen oil output cuts, ease export limits Oil seen opening stronger when trading resumes – PVM DUBAI, March 3 (Reuters) – OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend voluntary oil output cuts of 2.2 million barrels per …

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Energy Firms Boost Gas Exploration in Southeast Asia to Meet Growing Demand

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas / By

(Reuters) – Energy companies are ramping up exploration activities in Southeast Asia to boost natural gas output and meet long-term demand growth, drawn by recent discoveries and improved investment policies, company executives and analysts said. Malaysia and Indonesia have recently seen successful upstream discoveries, including a major discovery by Mubadala Energy in the South Andaman Block, following years …

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OPEC Oil Output Rises by 90,000 Bpd in February, Survey Finds

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

OPEC oil output rises by 90,000 bpd in February, survey finds (Reuters) – The following table shows crude output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in February and January, according to a Reuters survey published on Thursday. OPEC and allies, together known as OPEC+, announced …

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Record Year for Wind Farms Raises Hope for EU Green Energy Goals

CDN and International News, Latest, Renewable Energy, Wind / By

(Reuters) – A record year for building new wind farms and a rebound in investments in the sector have raised hopes that the EU may achieve its clean energy targets, industry group WindEurope said on Wednesday. In an annual report, WindEurope described 2023 as a year of “significant improvements” in key areas of Europe’s wind …

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