Saudi Arabia and its OPEC+ allies stunned the oil market with a decision to keep supply in check, sending prices surging and adding inflationary pressure to the global economy as it emerges from the pandemic. SourceContinue Reading

Providing more detail on Exxon’s recently-announced efforts to commercialize low-carbon technologies, CEO Darren Woods stressed that partnering with outside investors would be a key objective of. It would also mean Exxon would not need to fund large projects solely with its own cash. SourceContinue Reading

Oil surged to the highest in nearly two years after the OPEC+ alliance surprised traders with its decision to keep output unchanged, signaling a tighter crude market in the months ahead. SourceContinue Reading

Schlumberger New Energy, Chevron Corporation, Microsoft and Clean Energy Systems announced plans to develop a ground-breaking bioenergy with carbon capture and sequestration (BECCS) project designed to produce carbon negative power in Mendota, California. SourceContinue Reading

Secretary Granholm proposed a progressive agenda for energy research and innovation, to help the Biden Administration achieve net zero greenhouse gas emissions by 2050, and carbon/pollution-free energy generation by 2035. SourceContinue Reading

While the Biden administration promises to create millions of jobs on the march to carbon-neutral energy, the work that will be created won’t look, or pay, like that with which oil and gas crews are accustomed. SourceContinue Reading

To stop global temperatures from rising above 1.5 degree Celsius from pre-industrial levels, carbon prices must surge to $160 per ton of CO2 by 2030, up from a global average of $22 at the end of last year, Wood Mackenzie said in a report. SourceContinue Reading

Jennifer Granholm used her first speech as U.S. Energy Secretary to warn oil and gas companies they risk being left behind unless they embrace a transition to cleaner sources of energy, while also offering them an opportunity to partner with the new administration. SourceContinue Reading

A Libyan ship that sailed from Iran dumped oil into the sea off the coast of Israel in early February, Israel’s Minister of Environmental Protection Gila Gamliel told reporters on Wednesday. SourceContinue Reading

Speaking at CERAWeek, H.E. Dr. Al Jaber says the UAE has been preparing for the energy transition for over 15 years and views it as an opportunity to diversify its economy. ADNOC has stated that it will reduce its carbon intensity by a further 25% by 2030. SourceContinue Reading