Wednesday, December 25, 2024
What are they saying at the COP29 climate summit?- oil and gas 360

What are they saying at the COP29 climate summit?

(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

Oil & Gas Decarbonization Charter publishes baseline report to track progress on emissions reductions- oil and gas 360

Oil & Gas Decarbonization Charter publishes baseline report to track progress on emissions reductions

(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

Trump worries and leader absences cloud COP29 climate summit in Baku- oil and gas 360

Trump worries and leader absences cloud COP29 climate summit in Baku

(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

COP29: What are the key issues at the UN climate summit in Baku?- oil and gas 360

COP29: What are the key issues at the UN climate summit in Baku?

(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

The TotalEnergies French connection-U.S. LNG- oil and gas 360

The TotalEnergies French connection-U.S. LNG

( 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

California gasoline prices set for another hike- oil and gas 360

California gasoline prices set for another hike

(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

Washington state vote a harbinger for wider carbon markets- oil and gas 360

Washington state vote a harbinger for wider carbon markets

(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

Energy majors team up with Techouse to cut emissions from offshore installations-oil and gas 360

Energy majors team up with Techouse to cut emissions from offshore installations

(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

Eni agrees to sell 25% stake in Enilive share capital to KKR- oil and gas 360

Eni agrees to sell 25% stake in Enilive share capital to KKR

(World Oil) –  Eni and KKR have signed an agreement under which KKR will take a 25% stake in Enilive’s share capital, for a total agreed consideration of €2.938 billion. The transaction will be funded through: 1) the subscription of a capital increase in Enilive reserved to KKR amounting to €500 million; 2) the purchase of Enilive’s shares from Eni

Oil industry clashes with California's regulatory environment- oil and gas 360

Oil industry clashes with California’s regulatory environment

(Oil Price) – On October 16, 2024, the refiner Phillips 66 announced that it will cease operations at its Los Angeles-area refinery in the fourth quarter of 2025. This announcement came a few days after California Governor Gavin Newsom signed a new law placing additional regulations on refineries. The closure will affect approximately 600 employees and 300 contractors that currently work at the

FREE MONEY WORKS! Majors, independents diverge on Inflation Reduction Act - oil and gas 360

FREE MONEY WORKS! Majors, independents diverge on Inflation Reduction Act

(Oil & Gas 360) – After two years of industry opposition to the $740 billion Inflation Reduction Act (IRA),  touted by its proponents as the single largest effort by the U.S. government to promulgate a federal-level climate change investments and tax credit policy, several of the country’s largest oil companies are finding elements of the law so attractive that they are