(Bloomberg) At the world’s most important climate summit, the Organization of the Petroleum Exporting Countries — whose members supply almost 30% of the world’s oil — has a pavilion for the first time. There, staff were giving out a children’s book about oil. A grey-haired cartoon Professor named Riggs takes young readers through topics as …
Oil Is Everywhere at COP28, Vexing Those Seeking Its Demise Read More »
Summary Some members balk at fossil fuel phase-out inclusion Saudi, Russia push for focus on emissions not fuels Nations most affected by climate change demand its inclusion DUBAI, Dec 9 (Reuters) – Some countries are resisting a proposed pledge to phase-out fossil fuels in a COP28 climate deal, jeopardising attempts for U.N. climate talks to deliver a …
COP28 Clashes Over Fossil Fuel Phase-Out After OPEC Pushback Read More »
Endeavor Energy Partners is exploring a sale that could value the largest privately-held oil and gas producer in the Permian basin of the United States at between $25 billion and $30 billion, according to people familiar with the matter. The sale would come almost 45 years after Texas oilman Autry Stephens started the company that …
Endeavor Energy Explores Sale for as Much as $30 Billion Read More »
U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row for the first time since November 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by one to 626 …
U.S. Drillers Add Oil and Gas Rigs for Fourth Week in a Row – Baker Hughes Read More »
U.S. natural gas futures eased about 1% to a three-month low on Friday on forecasts for milder weather and lower heating demand through late December than previously expected. The combination of mild weather and near record output should keep the amount of gas utilities pull from storage lower than usual in coming weeks. Analysts forecast …
U.S. Natgas Prices Ease to 3-Month Low on Mild Weather Forecasts Read More »
(Reuters) – More than 250 environmental and community groups on Thursday called on the administration of U.S. President Joe Biden to halt its support for liquefied natural gas (LNG) due to the super-cooled fuel’s contribution to climate change. The groups, led by Friends of the Earth, released a letter to Biden at the COP28 United …
More Activist Nonsense – Green Groups at COP28 Demand U.S. Halt Support for LNG Read More »
(Bloomberg) The OPEC+ coalition’s grip on global oil markets is looking less secure by the day. Crude traders have shrugged off the Nov. 30 pledge from Saudi Arabia and its allies to slash supplies by a further 900,000 barrels a day, remaining skeptical of its implementation. Despite the group’s multiple attempts to shore up sentiment in …
How OPEC+ Saw Its Hold on Global Oil Markets Fray Despite Extra Production Cuts Read More »
(Bloomberg) Saudi Arabia has delayed past 2030 some of the projects launched as part of its economic transformation plan, in the first admission that the kingdom is having to shift the timeline for meeting the goals of the multi-trillion dollar program. The government, which is forecasting budget deficits every year out to 2026, has decided …
Saudi Arabia Says for First Time Some 2030 Projects Delayed Read More »
Flip to the glossary of any climate report and it will look like a cat ran over a keyboard. That’s particularly true when it comes to talking about carbon capture. The acronyms — DAC, MRV and EOR, to name just a few — are head-spinning. Throw in phrases like “enhanced rock weathering” and “carbon sink” and it’s enough …
Carbon Capture Is Confusing. Here Are 14 Terms to Help Understand It Read More »
(Reuters) – The global nuclear industry got a morale boost at the COP28 climate summit in Dubai after more than 20 nations vowed to triple capacity by 2050. But reaching that goal will require the industry to overcome regulatory hurdles, financing obstacles, fuel bottlenecks, and public safety concerns that have contributed to a long history of …
