The UN Principles for Responsible Investment estimates that some 42 companies announced net-zero targets in 2019 and 2020. More than half of those plan to plant trees, preserve forests or capture CO₂ in order to get there, even as their own businesses continue to warm the atmosphere. SourceContinue Reading
Efforts by Canada’s government to hire a firm to do a financial analysis of its Trans Mountain pipeline and a facilitator to help indigenous communities have rankled at least one group in British Columbia. SourceContinue Reading
The latest setback for exporters is the expiry of a 2017 accord between U.S. LNG developer NextDecade Corp. and the Port of Cork to build an import terminal in Ireland. SourceContinue Reading
The OPEC member’s output has fallen to around 1 million barrels daily in the wake of Waha Oil Co.’s decision to shut a key pipeline taking crude to Libya’s largest oil port, Es Sider. SourceContinue Reading
Mubadala Investment Co., Abu Dhabi National Oil Co. and ADQ have formed an alliance to produce hydrogen using natural gas and renewable energy and market it overseas as well as in the United Arab Emirates, ADQ said in a statement. SourceContinue Reading
The probe may cast a shadow over Exxon’s efforts to turn a corner after its shares posted their worst annual performance in 40 years in 2020 amid a collapse in oil prices. CEO Darren Woods has been forced to slash spending, and last month the company said it will write down the value of North...Continue Reading
Total announced that it would not renew its membership in the American Petroleum Institute in 2021, saying that the company’s stances on climate change and political affiliations are no longer in line with the U.S.-based energy group. SourceContinue Reading
Marubeni Corp. could all but exit the UK North Sea as it looks to sell its main oil and gas fields in the region, according to people with knowledge of the matter. SourceContinue Reading
China National Offshore Oil Corp. has for years drilled in waters far from its borders, and within 200 miles of countries including Vietnam and the Philippines. The activity amounts to the oil giant acting like a “bully” for China’s military to intimidate its neighbors, U.S. Commerce Secretary Wilbur Ross said in a statement Thursday announcing...Continue Reading
The world’s biggest fracking services provider, Halliburton has deployed the industry’s first grid-powered fracking operation on behalf of Cimarex Energy Co. To date, it’s completed almost 340 stages across multiple wells. SourceContinue Reading
