(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 …

COP28’s Shinny New Toy: Nuclear Sector Must Overcome Decades of Stagnation to Meet COP28 tripling Goal Read More »

U.S. crude oil stockpiles fell last week with production falling for the first time since July, while gasoline and distillate inventories rose as refiners ramped up output, the Energy Information Administration said on Wednesday. Crude inventories fell by 4.6 million barrels in the week ending Dec. 1 to 445 million barrels, the EIA said, compared …

U.S. Crude Stockpiles Fall, Fuel Builds as Refining Ramps Up – EIA Read More »

The options in the draft on the future of fossil fuels range from a less-stringent ‘phasedown of unabated coal power’ to a simple but dramatic ‘orderly and just phase out of fossil fuels’ The Associated Press DUBAI, United Arab Emirates — After days of shaving off the edges of key warming issues, climate negotiators Tuesday …

COP28’s Burning “Core Document”: Should Fossil Fuels be Phased Out or Phased Down? Read More »

U.S. incentives, 45Q tax credit and project-level economics likely to yield favorable returns CALGARY, Alberta (Dec. 6, 2023) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, has released a new report that explores blue hydrogen production technologies and incentives available in the U.S. and models the resulting project-level …

Blue Hydrogen: Greening the Bottom Line – Enverus Read More »

On track to deliver ~$14 billion of further earnings and cash flow growth potential over the next four years Expecting capital investments to generate average returns of ~30%, with payback periods less than 10 years for greater than 90% of the capex2 Pursuing more than $20 billion in lower emissions opportunities, up $3 billion Generated $9 …

ExxonMobil Corporate Plan more than doubles earnings potential from 2019 to 2027; 18% compound annual earnings growth significantly outpaces peers Read More »

Since the dawn of the Industrial Revolution, carbon dioxide levels in the earth’s atmosphere have increased by 50%. This critical statistic — combined with rising temperatures and fears of a climate crisis — has made limiting greenhouse gas emissions the top priority of world governments and industries across sectors. Over the years, carbon capture and storage …

Carbon Capture and Storage – What Did We Learn in 2023? Read More »