The American Petroleum Institute reported crude inventories dropped by 5.15 million barrels last week, with gasoline and diesel stockpiles also decreasing, according to people familiar with the data. SourceContinue Reading

The easing of direct regulation of methane emissions put the energy industry in a “backwards-facing position,” while the absence of carbon pricing makes it harder to incentivize new technologies like carbon capture, Shell U.S. President Gretchen Watkins said. SourceContinue Reading

“This is a sigh of relief to some extent by the market,” said Karim Fawaz, who leads the energy advisory service at consultant IHS Markit. “The short-term is still quite challenged, demand is looking quite weak. The second half of 2021 is when we expect to see that demand recovery start to take hold.” SourceContinue Reading

The Houston-based company announced a target to reach net zero emissions from its own operations by 2040 and an ambition to do the same from customers’ use of its products by 2050, CEO Vicki Hollub said during a conference call with analysts on Tuesday. SourceContinue Reading

This achievement marks a significant milestone towards future full field development and is an important step towards ADNOC’s target of producing 1 billion scfd of gas from the concession before 2030, ultimately enabling gas self-sufficiency for the UAE. SourceContinue Reading

The nation was producing about 1.2 million barrels a day before its energy sector was mostly shuttered in January when Khalifa Haftar, a Russian-backed commander based in the east, blockaded ports and fields. SourceContinue Reading

The potential shift from the U.S. will cap a pivotal year for global climate policy that has already seen the European Union, China and others deepen their commitments to fighting climate change. SourceContinue Reading

If it gets financial backing, the plant at the BP’s Lingen refinery in northwestern Germany would draw 50 megawatts of electricity from North Sea wind farms to make hydrogen. The gas would power 20% of the refinery’s energy needs and replace streams of hydrogen now made with fossil fuels. SourceContinue Reading

Abu Dhabi National Energy Co., as Taqa is formally known, will let outsiders hold 49% of its shares effective immediately, the board said in a statement on Tuesday. SourceContinue Reading

The 2020 ADIPEC conference, traditionally held in Abu Dhabi, is being conducted virtually this year. From oil price and demand projections to green energy outlooks, following are highlights from Monday’s proceedings. SourceContinue Reading