Oil and Industry

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.
Climate change 28-09-2020

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.

Why the European Green Deal needs strong methane regulations

Oil and gas companies throughout the supply chain need to do much more to bring down methane emissions immediately. And they can, writes Maarten Wetselaar.
Energy 16-03-2020

US shale will be first casualty of oil price war

Although the oil price war was triggered by the Russia-Saudi fall-out, US shale will be the first casualty, writes Robin Mills. In the process, the US will learn that producing a lot of oil at high prices is not the “energy dominance” it has made a centrepiece of foreign policy, he argues.
Energy 19-11-2019

China’s growing interest in Saudi Aramco is part of a long game

The Aramco public offering gives China an opportunity to gain a foothold at the center of the global oil industry. According to Joseph Dana, the move is part of a longer-term attempt by Beijing to challenge the dollar’s dominance as the world’s universal currency.
Energy 17-09-2019

The attack on Saudi Arabia’s Abqaiq refinery and the realpolitik of oil

After a Saudi oil processing facility came under attack, attention turned on the immediate effect this could have on oil prices. But the worry should be more over the medium term than the short term, writes Robin Mills.
Energy 21-08-2019

As the sun sets on oil, the sun will rise on solar power

When shares in Saudi Aramco eventually go public, there will doubtless be a feeding frenzy on what promises to be the largest initial public offering ever seen. More significantly, the move would also signal Saudi Arabia’s recognition that sunset for fossil fuel is just over the horizon, writes Jonathan Gornall.
Energy 06-06-2019

Watad: The oil company that came from nowhere and became a key player in Syria

Life in rebel-held northwest Syria has, without a doubt,  been made easier by Watad Petroleum’s presence. But with no information available publicly about who owns or runs it, there is a persistent suspicion about it, writes Haid Haid.
Energy 23-05-2019

The US isn’t protecting oil supplies from the Middle East, it wants to control prices as foreign policy

America’s extensive use of military and economic coercion in the Middle East and other oil-producing countries around the world reflects the US’s new position as an exporter of oil and liquefied natural gas, argues Robin Mills. Robin Mills is the...
Energy 16-05-2019

Iran seeks to prove it can disrupt oil and gas exports from Arab Gulf States

A recent attack on Saudi oil facilities west of Riyadh were designed to demonstrate Tehran’s ability to target all of the region’s oil and gas exports and raise exponentially the cost of military conflict for the US and its allies in the Gulf region, writes Hasan Alhasan.
Batteries 13-05-2019

What Daimler’s move on carbon-neutral cars says about the industry

Daimler, one of the world’s leading producers of premium cars and commercial vehicles, has announced new commitments to make its entire passenger car fleet carbon neutral by the close of 2039. This is the most ambitious timeline among any of the leading automakers and signals a rapid acceleration in the shift towards zero-carbon transport, writes Nigel Topping.

Iran and the US are inching toward war

There can be little doubt now that Iran and the US are inching toward full-scale war. All attempts by either to force a change in the other’s behavior have come to nothing. Conflict now seems inevitable, writes Dnyanesh Kamat.
Climate change 30-04-2019

Methane: Europe’s chronic climate blind spot

Europe has long led the global charge against greenhouse gas pollution. But it has been chronically reluctant to address the climate impact of methane emissions from the oil and gas sector, writes Poppy Kalesi.
Climate change 09-04-2019

ExxonMobil misled the public. Now they’re trying to mislead the European Parliament

Last month, US oil giant ExxonMobil was invited by the European Parliament to testify publicly about the history of climate change denial. But instead of responding transparently, they tried behind the scenes to discredit the peer-reviewed research conducted by Harvard University researchers, writes Geoffrey Supran.
Energy 25-02-2019

Time for EU bank to comply with EU’s climate objectives

As the European Investment Bank (EIB) holds a meeting in Brussels today (25 February) to consult the public on its new energy policy, Wendel Trio reflects on the role the EU’s bank should have in tackling the climate crisis.

Embracing the power of cheap renewables to deliver a carbon exit

Green steel, green ammonium, green plastics, green aluminium and green shipping can be within reach in a world with renewables at 3$ct/kilowatt hour and a carbon price of $50+/ton CO2, with limited costs to the global economy, argue Auke Lont...

How will oil producing countries meet the challenge of climate change?

As the United Nations COP24 gets underway in Poland, leading oil and gas players – countries and companies – are confronted with the challenge of mapping out their share of the new energy economy, writes Robin Mills.
Energy 22-03-2018

Energy efficiency – a game changer for Europe, a responsibility for industry

EU efforts to increase energy efficiency are now entering the sharp end of the legislative process, as trilateral talks ramp up. Nadezda Kokotovic explains what role industry should play in energy saving.
Energy 14-03-2018

Europe must regain the lead in clean automotive innovation

The EU must adopt policies that put European manufacturers on the right track to compete with the global shift to low carbon transport, writes Andrey Kovatchev.

Electric vehicles 12-03-2018

Are electric vehicles cleaner? The evidence points firmly in one direction

Opponents of electrification will continue to misuse lifecycle analyses to discredit battery electric vehicles. But they need to be increasingly ‘creative’ to do so, writes Julia Poliscanova.
Circular economy 07-03-2018

Is deep-sea mining worth the risk?

There is no evidence that deep-sea mining will reduce our dependency on land-based mining. We need to end business as usual and act to reduce the demand for these raw materials by making the transition towards a circular economy, write a group of Greens/EFA MEPs.
Energy 19-01-2018

EU need not fear new Russian gas pipeline

Europe’s continuing need for Russian gas – for reasons of proximity and price – is a reality, but it need not leave the EU over a barrel, writes Noah Gordon.

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LUKOIL

LUKOIL is one of the largest publicly traded, vertically integrated energy companies in the World. The corporate mission of LUKOIL is to make the energy of natural resources serve the interests of mankind. Every day millions of consumers worldwide buy LUKOIL products, energy and heat, improving the quality of their life.

LUKOIL’s main activities are exploration and production of oil and gas, refining and marketing of petroleum products and petrochemicals, as well as power generation. In order to reduce environmental impact and make efficient use of resources, LUKOIL has developed renewable energy solutions including hydroelectric, solar and wind generation.

LUKOIL conducts its business in a responsible and sustainable way, seeking to strike a balance between socio-economic and environmental development by supporting communities, contributing to the economy and preserving the environment. The company stringently abides by the highest global environmental standards and shares the principles of the United Nations Global Compact ensuring high levels of occupational safety and health. 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 LUKOIL pursues the sustainable development principles and seeks to achieve a good balance between socio-economic and environmental development.

LUKOIL corporate governance system is based on international best practices and fully incorporates the principles of openness, regulatory requirements, fair competition, and transparency.

LUKOIL ordinary shares are admitted to the Moscow Exchange. LUKOIL depositary receipts are listed on the London and Frankfurt Stock Exchanges, as well as on the US OTC market.

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