(Oil Price) – Alterra, the world’s largest private climate investment fund of $30 billion launched by the United Arab Emirates (UAE) last year, sees a lack of investment opportunities in the energy transition and has only spent a small part of its money, the fund’s chief executive Majid Al Suwaidi told Bloomberg. There aren’t attractive investment deals in the clean energy sector
(World Oil) – Under increasing pressure to decarbonize and shift away from traditional fossil fuels, the world’s leading oil and gas companies are ramping up investments in the biofuels sector. Major players such as BP, Chevron, Shell, TotalEnergies, ExxonMobil and Eni are incorporating biofuels into their broader energy transition strategies, recognizing the growing global demand for sustainable fuel sources. According to
(Investing) – BAKU – Trade tensions are flaring at the COP29 climate summit, with China, Brazil and a host of developing countries complaining that perceived trade barriers, such as the European Union’s carbon border levy, will undermine climate efforts, according to U.N. documents and negotiators. Nearly 200 countries are wrangling at the climate talks over a deal to provide hundreds of
The Oil and Gas Decarbonisation Congress (DECARBON) unites decision makers to share their viewpoints and companies experience on using advanced tools to decarbonise the industry operations. Predictive
(Investing) – BAKU- World leaders are speaking at the U.N. climate summit in Baku on Wednesday. Here are the latest comments: ALBANIA PRIME MINISTER EDI RAMA “I decided to leave aside my well prepared speech because …yesterday I was watching the silent TV in the leaders’ lounge, where the organizers have thoughtfully added green plants above the comfortable couches. “People
(World Oil) – The Oil & Gas Decarbonization Charter (OGDC) has published its Baseline Report, setting a foundation to help prioritize and track progress on emissions reductions made by the 54 oil and gas companies — representing almost 45% of the global oil production, that have signed up to the Charter’s ambitions. These ambitions include to work toward net-zero operations by
(BOE Report) – The annual U.N. climate summit began on Monday with some prominent leaders planning to skip the event ahead of tough talks on finance and trade, after a year of weather disasters that have emboldened developing countries’ demands for cash. Delegates gathering in Azerbaijan’s capital, Baku, hope to resolve the COP29 summit’s top agenda item – a deal
(Investing) – This month’s U.N. climate summit – COP29 in Baku, Azerbaijan – has been dubbed the “climate finance COP” for its central goal: to agree on how much money should go each year to helping developing countries cope with climate-related costs. That discussion could be tough following Tuesday’s re-election of former U.S. President Donald Trump, a climate denier whose
( Oil & Gas 360) – TotalEnergies CEO Patrick Pouyanne has cautioned that Europe is facing a new energy reality and “must find a way to restore its energy competitiveness.” The head of the French oil giant based his assessment of the continent’s energy squeeze on the loss of Russian gas from its war with Ukraine and steep production drops from
(Oil Price) – California authorities are about to make gasoline even more expensive for local drivers following a further tightening of emission rules, scheduled to be voted on this week. The vote would amend the state’s Low Carbon Fuel Standard, a program that began back in 2011 with the aim of incentivizing fuel producers to make lower-emission products by creating a carbon credit
(Investing) – A ballot initiative to ax Washington state’s carbon market would, if passed next week, send an ominous signal to other U.S. states and Canadian regions looking to build markets aimed at cutting emissions that scientists blame for climate change. The carbon market, formed by the state’s Climate Commitment Act (CCA), has raised more than $2 billion for programs
(World Oil) – Technology company Techouse has teamed up with several energy companies, including TotalEnergies and Equinor, plus SINTEF Energy Research, to develop and test a compact, lightweight once-through steam generator (OTSG) that can enable substantial reduction in fuel consumption and CO2 emissions from power and heat production at offshore installations. “Previous research and development has proved that implementing gas turbine
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