July 23, 2024

UN task force rejects carbon credits as emission reduction tool

July 23, 2024

Oil Price A United Nations task force is opposing the idea that companies use carbon credits and offsets outside government-regulated emissions markets to claim emissions reductions, according to a draft document seen by the Financial Times. As many companies, including the biggest oil and gas producers and technology giants, are vowing to slash emissions and emission intensity, some of them have

China and rare earth minerals-lower for longer

July 23, 2024

Oil and Gas 360 (Wall Street Journal)-The three-year bear market for rare earth minerals shows little sign of abating as market-dominant China continues to meet rising state-run production quotas despite falling prices. The intentional glutting is a long-used strategy to quell competition and investment in rivals. Feeling the brunt is one of the world’s biggest rare earth miners

Stock market’s short-term focus threatens energy transition goals

July 23, 2024

Oil Price The energy transition would need a major change in the mentality of stock market investors to succeed. Investors’ focus on relatively fast returns and immediate financial performance right now makes them reluctant to invest in transition companies. And this could become the death knell of that transition. “Public markets are probably the cheapest cost of capital,” KKR partner

Shell to sell Scottish offshore wind leases to refocus on oil and gas

July 23, 2024

World Oil (Bloomberg) – Shell Plc plans to sell leases it won to develop floating offshore wind farms off the coast of Scotland, as the oil major continues to roll back a once-ambitious expansion into renewable power. The company wants to sell its share of projects in a joint venture with Iberdrola SA’s Scottish Power to develop as much as

US senators introduce bill to speed approvals of energy projects

July 23, 2024

U.S. News WASHINGTON – The top two lawmakers on the Senate energy committee on Monday introduced long-awaited legislation to speed permitting of power transmission, mining and liquefied natural gas export projects. Senators Joe Manchin, an independent who caucuses with Democrats, and John Barrasso, a Republican, said their bill would strengthen the power grid and help keep power prices low. WHY

Oil sinks as signs of tepid crude demand in Asia multiply

July 23, 2024

Oil Price A supertanker-load of one of the key North Sea crudes has recently sold in Asia at a very low price – below the spot North Sea price and below the price of a Middle Eastern grade – in a sign that Asian demand for crude continues to be softer than anticipated. A cargo of 2 million barrels of

UN task force rejects carbon credits as emission reduction tool

China and rare earth minerals-lower for longer

Stock market’s short-term focus threatens energy transition goals

Shell to sell Scottish offshore wind leases to refocus on oil and gas

US senators introduce bill to speed approvals of energy projects

Oil sinks as signs of tepid crude demand in Asia multiply

Premium Content