Oil and Industry

Portugal’s Galp moves to green hydrogen at refinery, eyes €1bn investment

Portugal's Galp Energia plans to install a 100-megawatt electrolyser to power its refinery in Sines with green hydrogen by 2025, a project which could be expanded to up to 1,000 MW and be worth €1 billion, Chief Executive Andy Brown said on Monday (14 June).
Energy 08-06-2021

Study: Peak oil moves closer as energy majors shift to renewables

The world’s largest oil and gas companies increased investment in clean energy by 23% compared to 2018, despite a 6% fall in global energy demand last year caused by the coronavirus pandemic, according to new research published on Tuesday (8 June).
Global Europe 01-06-2021

OPEC, Russia seen gaining more power with Shell Dutch ruling

Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia.
Energy 27-05-2021

Shell ordered to slash emissions 45% by 2030 in historic court ruling

A Dutch court has ordered Royal Dutch Shell to cut its emissions 45% by 2030 compared to 2019 levels, in a landmark ruling. EURACTIV's media partner, Climate Home News, reports.
Climate change 07-05-2021

UN methane report ups pressure on EU to tackle the planet-warming gas

The world must urgently cut its emissions of methane to rein in climate change, a UN report said Thursday (6 May) raising pressure on European Union policymakers who are drafting the bloc's first methane regulations targeting fossil fuels.
Energy 31-03-2021

Fossil fuel shares drop in value compared with clean energy, think tank says

The value of share offerings in fossil fuel companies has dropped by almost 20% since 2012, while low-carbon companies gained ground in a shift towards clean energy, a report by think-tank Carbon Tracker showed on Wednesday (31 March).
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Energy 15-03-2021

LUKOIL developed four scenarios of how the climate agenda will affect on oil demand

LUKOIL has completed working out scenarios for changing global oil demand, which has been prepared as part of its climate strategy development. Vagit Alekperov, the co-owner and president of the company, announced it at a conference call on March 10....

Flying in the face of the ECB – Greenpeace paraglides onto bank to protest fossil fuel funding

Two climate activists from Greenpeace paraglided onto the roof of the European Central Bank (ECB) headquarters on Wednesday (10 March) and hung a banner accusing the bank of funding polluters on the eve of its governing board meeting.
Global Europe 10-03-2021

Snubbing Rosneft, Poland signs deal with ExxonMobil on oil supplies

Polish oil refiner PKN Orlen has signed a contract with US ExxonMobil under which it will import around 1 million tonnes of crude oil within a year, it said on Tuesday (9 March).
Energy 11-02-2021

Petrostates face $9trln income gap with energy transition: study

The world’s poorest oil-dependent countries are set to take the biggest hit in the transition away from fossil fuels, according to a new report published on Thursday (11 February).
Circular economy 03-02-2021

Dressed to kill – the environmental cost of fast fashion exposed

The EU needs to introduce strict measures to slow overconsumption in the fast fashion industry and increase the recyclability of textiles in order to reach a zero waste and net zero economy by 2050, according to a new report.
Energy 26-01-2021

BP’s oil exploration team swept aside in climate revolution

Nothing escapes the winds of change now sweeping through BP, not even the exploration team that for more than a century powered its profits by discovering billions of barrels of oil.
Climate change 20-01-2021

Competition or cooperation? EU, US enter new era of climate diplomacy

As Joe Biden takes the reins of a tumultuous America, analysts have tempered expectations about the ability of the new US administration to closely align with Europe on climate change.

EU price on pollution hits record high in early 2021

The price of permits on the European Union carbon market has soared to record levels in the first trading days of the year, hiking costs for polluters as the EU prepares measures to enforce deeper emissions cuts.
Energy 22-12-2020

Norway’s top court rejects climate challenge to Arctic oil exploration

Norway's Supreme Court struck down a challenge from environmental groups trying to stop oil exploration in the Arctic, after a historic battle over the country's climate change commitments on Tuesday (22 December).
Energy 02-12-2020

Fossil fuel production needs to fall 6% per year to avoid catastrophic warming: report

World governments need to reduce fossil fuel production by 6% every year over the next decade to reach a 1.5°C pathway and limit catastrophic warming, according to new research.

While coal premiums soar, insurance groups still supports oil and gas

Insurance companies have accelerated their withdrawal from coal this year, making it costlier to secure insurance for new projects. However, the insurance industry is still underwriting oil and gas companies, according to new research.
Energy 24-11-2020

Oil hits highest since March, but still drastically down from last year

The oil price has reached its highest point since it plummeted in March due to COVID-19 lockdowns, as market confidence grows in coronavirus vaccines.
Energy 23-11-2020

Oil and gas majors sign up to ‘gold standard’ of methane reporting

Sixty-two major oil and gas companies on Monday (23 November) agreed to a new framework for monitoring, reporting and reducing methane emissions as part of the Oil and Gas Methane Partnership 2.0.
Energy 16-11-2020

UK set to move petrol and diesel ban forward to 2030

Prime Minister Boris Johnson is expected to move the ban on sales of new petrol and diesel cars forward to 2030, as part of a raft of new policy announcements to drive the UK towards its net-zero target. EURACTIV's media partner edie.net reports.
Energy 09-11-2020

Norway plans heavy oil ban around Svalbard

The Norwegian government has announced plans to ban heavy fuel oil (HFO), a dirty marine fuel that propels most vessels, around its Svalbard archipelago in the Arctic Ocean. The effort comes as UN efforts have been deemed too slow.
Energy 05-11-2020

Emissions from energy sector likely to rebound from COVID-19, Capgemini warns

Emissions from the global energy sector will be 7-8% lower in 2020 than in 2019, but most nations are still failing to align their energy generation and consumption patterns with long-term climate targets, Capgemini is warning. EURACTIV's media partner, edie.net, reports.
Energy 05-11-2020

Oil and gas have been hit dramatically by COVID, speeding the transition out of them

COVID-19 has had a wide-ranging impact on oil and gas, with estimates showing that oil demand could peak as early as 2025, rather than 2040, and that gas will be a much shorter bridge into renewables, writes Simon Redmond and Elena Anankina.

Dangerous pipedream: how funding fossil gas risks blowing apart the EU Green Deal

MEPs should uphold the Green Deal and vote against subsidising gas in the upcoming Committee on Economic and Monetary Affairs vote, writes Jeremy Wates and Magda Stoczkiewicz.