A ambitious new Arctic oil project led by Russia’s top oil producer Rosneft will require about 10 trillion roubles ($157 billion) of investment, Russia’s deputy energy minister Pavel Sorokin told reporters.
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.
Oil majors have steadily reduced exploration investment since the 2014 oil price collapse. Now exploration is ticking up again, even if the oil price isn’t. Meanwhile, investment in renewables remains small among oil and gas companies.
Oil and gas infrastructure as well as electric power stations could suffer major failures in the coming years if they are not adapted to withstand extreme weather caused by climate change, EU officials have warned.
An overwhelming vote in favour of climate action at BP's annual meeting yesterday (21 May) shows how activist investors have started to move the oil and gas industry. But it also showed the limits to their appetite for change.
Representatives of Poland, Russia, Belarus and Ukraine will meet on Friday (26 April) in Minsk, the capital of Belarus, to discuss how to solve the problem of polluted Russian oil, Poland’s pipeline operator PERN said on Thursday night.
Ethanol will have a very important role in decarbonising the transport sector globally, the executive director of the International Energy Agency (IEA) told EURACTIV.com. Another energy expert said electrification will play a major role in transport but is not applicable to all sectors, which is where biofuels come in.
China, seeking to skirt US sanctions, will use oil tankers from Iran for its purchases of that country's crude, throwing Tehran a lifeline while European companies such as France's Total are walking away due to fear of reprisals from Washington.
The EU Council's proposal for double or even multiple counting of advanced biofuels and green electricity consumption will increase Europe's dependency on fossil fuels to cover "real" energy needs, something which conflicts with the principal objective of the RED II legislation.
Europe is hardly the first place that springs to mind when thinking about the world's major oil producing regions, and there is a perception that the domestic industry has already seen its heyday, particularly in the North Sea.
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.
Former German Chancellor Gerhard Schröder hit back at criticism of his planned new job at Russian oil producer Rosneft on Thursday (17 August), accusing his foes of political manoeuvring to help get Angela Merkel re-elected.
EXCLUSIVE/ Energy guru Igor Yusufov shared his views with EURACTIV.com on the first bilateral meeting between Russian President Vladimir Putin and his US President Donald Trump at the G20 summit, as well as on the global gas and oil business.
Turkey, a country poor in energy resources, has voiced its ambitions to leverage its geographic position by becoming an even more important crossroads of supply routes and a giant energy hub, saying this would “improve” the EU’s energy security.
Saudi Arabia and Russia, the world's two top oil producers, agreed today (15 May) to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up prices.
Oil extracted from tar sands is far more polluting than conventional hydrocarbons. But the EU’s decision to change the way it classifies the fuel is good news for Canadian exports and bad news for the environment. EURACTIV’s partner Ouest-France reports.