The bank brought forward its forecast for peak oil demand in the transportation sector by one year to 2026, if not sooner, largely due to the accelerating adoption of electric vehicles. Overall crude consumption will keep expanding this decade due to jet fuel and petrochemicals, but growth will be at an “anemic” pace past 2025....Continue Reading
The pick-up in activity across the key Asian market comes amid a flurry of signs that global oil consumption is improving as economies including the U.S. shake off the impact of the pandemic. So far in 2021, Brent futures have soared 30%, and last traded near $67 a barrel. SourceContinue Reading
Shell will team up with the UK’s biggest independent oil and gas producer Harbour Energy Plc, and the project’s developer Storegga Geotechnologies Ltd, a unit of the latter said Friday. The companies will be equal partners in the Acorn venture, it said, without disclosing potential investments from them. SourceContinue Reading
Oil industry officials have encouraged the administration to seek methane reductions across the economy, including from agriculture. While some independent oil producers oppose new methane-cutting mandates, the trade group American Petroleum Institute supports explicit regulation of methane. SourceContinue Reading
AFG Holdings, Inc. announced that its Board of Directors has appointed Michael Walter as Chief Executive Officer, effective immediately. Mike succeeds Curtis Samford following his unexpected passing in February. SourceContinue Reading
The process of taxonomy is crucial because it will keep the EU on track to meet its commitment to climate neutrality. The challenge for the EU is to ensure it gets the political and social support while avoiding the risk of greenwashing, or overstating the significance of emissions reductions. SourceContinue Reading
A new kind of power plant that doesn’t add greenhouse gases to the atmosphere is being built in the U.S., potentially providing a way for utilities to keep burning natural gas without contributing to global warming. SourceContinue Reading
Tenaris is pushing ahead with plans to increase its operations across the US, bringing its facilities in the Northeast back online. With the ongoing expansion, Tenaris is working to boost its employee base in the States by about 1,000. SourceContinue Reading
Mexican President Andres Manuel Lopez Obrador has sought to clamp down on private competition to state-owned companies, saying in October he intends to protect the interests of state oil producer Pemex and electricity firm Comision Federal de Electricidad. At the time, he accused foreign companies of ransacking the country. SourceContinue Reading
Iraq’s oil ministry took the unusual step of saying it’s in talks with U.S. companies about the possibility of them buying Exxon’s 32.7% stake in the field in southern Iraq, near the city of Basra. SourceContinue Reading
