At the 27th Saint Petersburg International Economic Forum, Rosneft CEO Igor Sechin delivered a compelling speech on the energy panel, focusing on the ongoing energy transition. Sechin highlighted the Organisation of Petroleum Exporting Countries’ (OPEC) recent forecast which suggests that oil demand is set to increase by nearly 20% to reach 116 million barrels per day by 2045, with oil maintaining a 30% share of the global energy mix.
Oil and gas will be “pillars of global energy for many decades to come”, the closing statement of a meeting of Arab energy ministers said on Tuesday, as the issue of ending the use of fossil fuels sent COP28 into overtime in pursuit of a deal, Reuters reports.
The Church of England is divesting from fossil fuels in its multibillion pound endowment and pension funds over climate concerns and what the church claims are recent U-turns by oil and gas companies.
Redirecting the $577 billion in government subsidies for fossil fuels could unlock at least half a trillion dollars that could be put to more sustainable uses, the World Bank said in a new report.
Oil giant Shell plans to boost fossil fuel production even as the company says it still aims to zero out greenhouse gas emissions by 2050. Critics concerned about climate change say to meet that target, the company should be cutting production, not increasing drilling for oil and gas.
Global Energy Monitor analysis shows 30 companies, including UAE’s Abu Dhabi National Oil, contribute to nearly half of the energy industries’ methane emissions.
Oil and gas workers are planning to hit fossil fuel firms with a ‘tsunami’ of strikes, unions have announced.
The Legislature has shifted into high gear, and it is at this moment – as work and priorities unfold – that lawmakers and the public must remain focused on addressing New Mexico’s budgetary over-dependence on fossil fuels.
On Sunday, the European Union enacted its latest embargo against Russia, banning the import of the country’s diesel fuel and other oil products amid their ongoing invasion of Ukraine.
BP is the only fossil fuel firm planning to cut down on oil and gas production by 2030, in spite of efforts to wean the world off the polluting fuels.