Oil and Industry
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).OpinionPromoted content
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.
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).
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).
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
European energy companies launch major carbon capture projects off UK coast
After decades spent extracting fossil fuels from the UK’s North Sea, a consortium of oil companies is preparing to pump Britain’s greenhouse gas emissions back beneath the seabed to help meet the government’s climate ambitions. EURACTIV's media partner partner, The Guardian, reports.
Major fossil fuel firms set to miss 2°C climate target, research shows
None of the world's major coal, oil and and gas companies are on track to limit climate warming to 2°C by 2050, according to new research released on Wednesday (7 October).
Growing momentum behind carbon capture can make it a new clean energy success story
Governments and companies have the chance today to turn carbon capture, utilisation and storage (CCUS) into a clean energy success story that will bring environmental and economic benefits worldwide. Without it, our energy and climate goals will become almost impossible to reach, write Erna Solberg and Fatih Birol.
Call it by its name: Synthetic gas and oil from old plastics is not ‘recycling’, it’s ‘recovery’
The term “chemical recycling” should only be used for plastic waste reconverted into new plastics. If those plastics are transformed into fuels or petrochemical products, the process should be called “recovery” instead, write Shanar Tabrizi and Fanny Rateau.