OIL

10,863 articles

OPEC sees oil demand growth continuing until 2045
Oct 09, 2023 (AFP)
In its 2023 annual report, the Organization of the Petroleum Exporting Countries forecasts demand for crude to reach 116 million barrels per day (mbd) by 2045 u...
Saudi announces domestic greenhouse gas credit scheme
Oct 09, 2023 (AFP)
The Greenhouse Gas Crediting and Offsetting Mechanism (GCOM), set to launch in early 2024, "aims to increase cooperation among national entities seeking to fulf...
World can't 'unplug' existing energy system: COP28 head
Oct 08, 2023 (AFP)
"We cannot unplug the energy system of today before we build the new system of tomorrow. It is simply not practical or possible," Sultan Al Jaber said during th...
Iraq signs 'preliminary' gas deal with Turkmenistan
Oct 06, 2023 (AFP)
They added that talks are still needed to arrange transport through Iran. Iraq, ravaged by decades of conflict and international sanctions, relies on gas import...
UAE approves mega gas project weeks ahead of COP28
Oct 05, 2023 (AFP)
The company said it would invest in the Hail and Ghasha offshore fields, pledging that it would be the "world's first project that aims to operate with net zero...
'Fertile ground': Baghdad sees timid revival with investment drive
Oct 04, 2023 (AFP)
"Iraq is fertile ground for investments," said Falah Hassan, the executive director of the complex of restaurants and shops built on the grounds of one of Sadda...
UAE's ADNOC eyes major project for air capture of C02
Oct 03, 2023 (AFP)
The "preliminary engineering study" by the state-owned firm and Occidental Petroleum is the product of a deal signed earlier this year to explore carbon capture...
Green groups target TotalEnergies over Tanzania, Uganda projects
Oct 02, 2023 (AFP)
The groups -- Darwin Climax Coalitions, Sea Shepherd France, Wild Legal and Stop EACOP-Stop Total -- filed their action on September 22, saying that TotalEnergi...
'Geopolitical tension' a major threat to climate action: IEA chief
Oct 02, 2023 (AFP)
"The 1.5C target" agreed in Paris in 2015 is "still within reach" but it faces "many challenges" the energy watchdog's boss Fatih Birol told an international cl...
Climate goal reliant on massive new private sector investment: IMF
Oct 02, 2023 (AFP)
To attain the 2050 goal, $2 trillion would need to be invested annually by 2030, according data from the International Energy Agency (IEA) cited in the report. ...
Oil industry 'central' to climate solutions: COP28 head
Oct 02, 2023 (AFP)
"For too long, this industry has been viewed as part of the problem, that it's not doing enough and in some cases even blocking progress," said Sultan Al Jaber,...
Turkey says Iraq oil pipeline will resume 'this week'
Oct 02, 2023 (AFP)
Turkey closed the pipeline after an arbitration court ordered Ankara to pay about $1.5 billion in damages to Baghdad for transporting oil from the Kurdistan reg...
California's green drive leaves its oil towns behind
Oct 01, 2023 (AFP)
But he knows the state's ambitious environmental policies will put an end to the practice much sooner than that. Oil extraction "could continue for another 100 ...
Netherlands halts extraction from Europe's biggest gas field
Oct 01, 2023 (AFP)
Authorities are keeping 11 extraction wells open at the Groningen gas field for another year, however, in case of a severe winter, before shutting its gates for...
Quake-hit locals relieved Europe's biggest gas plant to close
Sep 29, 2023 (AFP)
The Netherlands is poised to end production at the massive Groningen gas field in the north of the country on October 1, but keep the wells open for one more ye...
Biden announces more offshore drilling, angering environmentalists
Sep 29, 2023 (AFP)
Biden, who faces re-election next year, has repeatedly broken his promise made as a candidate to end new drilling on federal land and water, and the issue could...
Germany bets on hydrogen to help cut trucking emissions
Sep 29, 2023 (AFP)
But in the race to decarbonise long-haul trucking, the niche technology is still stuck in the slow lane. The Mercedes-Benz GenH2 truck started its demonstration...
IEA, ECB urge Europe to move faster on energy transition
Sep 29, 2023 (AFP)
The plea was made at a conference on the clean energy transition hosted by the International Energy Agency, the European Central Bank and the European Investmen...
Britain approves $9.85B Rosebank oilfield development project
Sep 27, 2023 (UPI)
The go-ahead for the Rosebank project 80 miles northwest of the Shetland Islands was granted after Equinor and Ithaca satisfied regulators' concerns regarding i...
UK grants controversial North Sea oil and gas output
Sep 27, 2023 (AFP)
Norwegian oil and gas producer Equinor and Ithaca Energy, a subsidiary of Israeli group Delek, will together invest $3.8 billion in developing the field situate...
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