Oil and Industry

Energy 05-12-2017

Refiners accuse EU lawmakers of ‘bias’ towards electric vehicles

EU policy on vehicle emissions is biased towards electrification, the trade association FuelsEurope argued on Monday (4 December), as it presented a study suggesting that a gradual switch from diesel to zero-emissions cars would have almost no impact on urban air quality by 2030.

Energy 05-12-2017

Common failures in predicting future oil demand

In a world where technologies are evolving at a blistering pace, many are struggling to make smart choices, especially in the area of transport, writes Pete Harrison.

Energy 30-11-2017

Think tanker: E-mobility push won’t affect EU oil demand significantly until 2040s

The IEA’s latest World Energy Outlook suggests the EU is set to wean itself off oil even as global consumption continues to rise. EURACTIV.com asked Georg Zachmann, a senior fellow at the Brussels-based think tank Bruegel, how he sees oil demand in the EU changing in the coming years.

Energy 30-11-2017

Fair fuel pricing: A test for Europe’s climate ambitions

Is the EU committed enough to increase taxes on fossil fuels? That is a question that needs to be raised now considering the long-running debate on the best measures, including energy taxation, to reduce greenhouse gas emissions, write Kai Schlegelmilch and Zoltán Szabó.

 

Energy 17-11-2017

World’s biggest sovereign wealth fund proposes ditching oil and gas holdings

The Norwegian central bank, which runs the country’s sovereign wealth fund – the world’s biggest – has told its government it should dump its shares in oil and gas companies, in a move that could have significant consequences for the sector. EURACTIV's media partner The Guardian reports.

Climate change 17-11-2017

Climate change fight is great opportunity for Europe’s labourers

For decades, labourers were presented with a false choice: good jobs or a clean environment. They were told that efforts to cut pollution would kill jobs—that they had to choose between clean air and the economy. Now we know better, insists Kathleen Van Brempt.

Climate change 10-11-2017

Civic groups want international carbon tax on overseas polluters

EXCLUSIVE: EU companies investing in oil and gas extraction overseas can reap hefty profits but also threaten global carbon targets. In reaction, a number of civic groups have jointly proposed a carbon tax on products and income derived from overseas extraction.

Energy 02-11-2017

Oil exploration continues unabated in Europe, despite Paris goals

As world leaders prepare to meet for UN climate talks in Bonn, it may come as a surprise that firms are lining up to drill, at great expense, in Europe’s northern waters where output has peaked years ago.

Energy 27-10-2017

Offshore drilling and environmental protection

In early offshore oil and gas activity, drilling wastes were generally discharged from the platforms directly to the sea. Until several decades ago, the seas and oceans were considered as limitless dumping grounds. Today apart from regulatory control, companies adopt voluntary measures to minimise the industry's impact on environment.

Energy 20-10-2017

Juncker: No EU unity for Russia Nord Stream 2 talks

The European Commission on Thursday (19 October) said that despite a lack of unity among member states over Russia's plans for a new gas pipeline to Germany, it would press ahead to seek support for talks with Russia on its objections.

Energy 17-10-2017

‘Black gold’ rush to peak in 2030 thanks to rise of electric car

World petrol demand will peak within 13 years thanks to the impact of electric cars and more efficient engines, energy experts have predicted. EURACTIV's partner The Guardian reports.

Energy 10-10-2017

OPEC Secretary General urges US shale oil producers to help cap global supply

OPEC’s Secretary General Mohammed Barkindo today (10 October) called on US shale oil producers to help curtail global oil supply, warning extraordinary measures might be needed next year to sustain the rebalanced market in the medium to long term.

Energy 03-10-2017

Giant Libyan oilfield closed as gunmen press demands

An armed group forced Libya’s massive el-Sharara oilfield to close late on Sunday (1 October), shutting off production of more than 230,000 barrels per day (bpd), the head of the state oil company said.

Climate change 03-10-2017

‘Thou shalt not burn coal’: Catholic institutions abandon fossil fuels en masse

Forty Catholic institutions from across the world will pull money out of fossil fuels this week, in the biggest single divestment made by religious institutions, including banks, universities and even the Italian town where Saint Francis of Assisi was born.

Energy 02-10-2017

Oil refiners warn increased CO2 costs could force them out of Europe

Petroleum refiners have teamed up with other energy-intensive industries to warn about EU plans to hike the cost of emitting carbon dioxide, echoing previous warnings about "carbon leakage" which critics say have failed to materialise.

Electricity 29-09-2017

Smoke, mirrors and coal dust  

Making coal power look like a worthy candidate for taxpayer support in a Europe moving to low carbon generation is no easy trick. A recent study tried to pull off this illusion and failed miserably, explains Dave Jones.

Transport sucks up nearly half of Europe’s fossil fuel subsidies, report finds

European countries spend more than €112 billion per year subsidising oil, gas and coal production or consumption – including tax breaks on highly-polluting diesel – despite a pledge to phase out fossil fuels completely by 2020.

Electricity 26-09-2017

EU plan to cap fossil fuel subsidies will stymie renewables, power utilities warn

A European Commission proposal aimed at capping fossil fuel subsidies across the EU could have perverse effects by promoting investment in new gas-fired fossil fuel power instead of renewable energies, according to a new study.

Energy 22-09-2017

Will new EU buildings law help pave the way for an electro-mobile future?

The ongoing reform of the Energy Performance of Buildings Directive (EPBD) offers a once-in-a-decade opportunity to make European buildings and cities of today fit for the low pollution, electric transport of tomorrow, writes Teodora Serafimova.

Climate change 20-09-2017

Environmentalists find renewed hope in ‘industrial’ CCS

Considered almost dead and buried a few years ago, carbon capture and storage (CCS) is enjoying renewed support among environmentalists, providing fresh hopes that the much decried technology may finally be coming of age and play its part in the fight against climate change.

Emissions Trading System failures sour energy policy efforts

Doubts about the effectiveness of the European Union’s Emissions Trading System (ETS) resurfaced on Tuesday (19 September) at an energy conference in Estonia, as a low carbon price continues to stymie energy market efforts.

Climate change 18-09-2017

Trump told that Paris Agreement is ‘irreversible and non-negotiable’

The terms of the Paris Agreement are set in stone, the EU, China and Canada agreed at a summit in Montreal this weekend, while Washington was forced to deny that the US is planning to stay in the accord.

Energy 15-09-2017

Green groups say Greece granting illegal permits to polluting plants

Environmental activists have accused Greece of violating an international convention by directly granting permits to its national energy company and making it impossible for anyone to launch a legal challenge against them.

Energy 11-09-2017

John Cooper: On fossil fuels, the European public is ‘a little bit misled’

A lot is at stake for the energy security of Europe if political correctness was to dictate imposing one technology against the other, John Cooper, Director General of FuelsEurope told EURACTIV.com.

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25 Years of Sustainable Development

LUKOIL is one of the major international oil and gas companies that accounts for more than 2% of the world's oil production and around 1% of the proven hydrocarbon reserves. Every day millions of consumers in more than 30 countries worldwide buy LUKOIL’s products, energy and heat, improving the quality of their life.

While having the full production cycle, LUKOIL exercises full control over the whole production chain — from oil and gas production to petroleum product sales. LUKOIL's goal is to create new value, maintain high profitability and stability of its business, deliver high return on capital employed for its shareholders by increasing the value of the LUKOIL's assets and the payment of cash dividends.

To achieve these goals, LUKOIL shall use all available opportunities, including further efforts to reduce costs, increase the efficiency of its operations, improve the quality of its products and services and use new advanced technologies.

Taking social responsibility for the efficient use of natural resources in all its earnestness and maintaining favorable environmental conditions in its business, LUKOIL is guided by the highest HSE standards. In its operations the LUKOIL pursues the sustainable development principles and seeks to achieve a good balance between socio-economic and environmental development.

LUKOIL’s corporate mission is to make the energy of natural resources serve the interests of mankind, to efficiently and responsibly develop the unique hydrocarbon fields by providing Company growth, the wellbeing of its employees and community at large.

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