Wednesday, March 19, 2025
U.K. sets ‘World Leading’ 2035 climate target. But will actions match words?- oil and gas 360

U.K. sets ‘World Leading’ 2035 climate target. But will actions match words?

Forbes The U.K. government today announced it would adopt a much tougher climate target of slashing carbon emissions 78% by 2035, in a British bid to claim global leadership on climate action. Introducing the target as part of the U.K.’s Sixth Carbon Budget, Prime Minister Boris Johnson said: “We want to continue to raise the bar on tackling climate change,

Equinor makes small oil and gas discovery at Norway's Tyrihans field- oil and gas 360

Equinor makes small oil and gas discovery at Norway’s Tyrihans field

Reuters OSLO- Equinor has discovered more oil and gas at its Tyrihans field in the Norwegian Sea, the company said on Wednesday. The discovery contains between 19 million and 26 million barrels of oil equivalent (boe) of recoverable resources, which could be immediately put into production, it added. “It is encouraging to prove new resources that can extend the life

Factbox: Pandemic brings forward predictions for peak oil demand- oil and gas 360

Factbox: Pandemic brings forward predictions for peak oil demand

Reuters The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts by energy majors, producers and analysts for when the world’s demand for oil may peak. The rise of electric vehicles and a shift to renewable energy sources were already prompting downward revisions in forecasts for long-term oil demand. While there is no consensus on when oil

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 0.6 million barrels

Weekly Crude Oil Storage as of April 16, 2021   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.6 million barrels from the previous week. At 493.0 million barrels, U.S. crude oil inventories are about 1% above the five year average for this time of year, according to the EIA crude oil and petroleum