Chevron Corp. expects its $10 billion of investment on low carbon technologies through 2028 to offer double digit returns that are competitive with its main oil and gas business, Chief Executive Officer Mike Wirth said. SourceContinue Reading
Russia’s crude oil and condensate output jumped in the first weeks of September as some of the nation’s key producers ramped up in line with the OPEC+ deal and Gazprom PJSC recovered from a fire at a facility in West Siberia. SourceContinue Reading
Norway’s opposition Labor Party is on course to oust the Conservative-led government after two consecutive terms in an election dominated by disputes over the Nordic economy’s dependence on fossil fuel. SourceContinue Reading
Barclays Plc and Deutsche Bank AG are among 17 banks accused by climate law activists of “hypocrisy” over work related to a controversial North Sea oil field. SourceContinue Reading
Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago. SourceContinue Reading
The world will have to wait until October for additional oil supplies as output losses from Hurricane Ida wipe out increases from OPEC+, the International Energy Agency said. SourceContinue Reading
West Virginia Senator Joe Manchin stands alone among his fellow Democrats, recognizing the long-term economic damage Biden’s $3.5T liberal wish list would inflict on America’s ability to meet its own energy needs, and compete in the global economic arena. SourceContinue Reading
Angola, which relies on oil for more than 90% of its exports, has been struggling to recover from the 2014-2016 collapse in prices. It has also not been able to boost investments, needed to increase production from its aging fields. SourceContinue Reading
“This bill is at fundamentally at odds with the president’s commitment to repeal fossil fuel subsidies,” said Erich Pica, president of Friends of the Earth. “This is a failure of climate leadership that will not soon be forgotten.” SourceContinue Reading
The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. SourceContinue Reading
