World Oil (Bloomberg) –Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. “We have very serious concerns that the world could run short of energy if we are not careful in managing the transition,” Mohammed Al-Jadaan said. “In Saudi Arabia, we have an interest in
Nasdaq HOUSTON, Dec 8 – The COP 26 climate change conference largely excluded the oil and gas industry, OPEC Secretary General Mohammad Barkindo told a gathering of oil officials on Wednesday, arguing producers need to be included in planning for a transition to cleaner fuels. Speaking at the World Petroleum Congress, Barkindo took up the themes of several earlier speakers
CNBC LONDON — Larry Fink, chair and CEO of BlackRock, says the so-called energy transition toward greener power has to be radically rethought and blasted oil firms for selling out to private companies. Speaking at the Green Horizon Summit chaired by CNBC’s Julianna Tatelbaum during the COP26 climate conference in Glasgow, Scotland, Fink praised public companies for increasing their reporting of
World Oil (Bloomberg) –The world is living through the first major energy crisis of the clean-power transition. It won’t be the last. The shortages jolting natural gas and electricity markets from the UK to China are unfolding just as demand roars back from the pandemic. But the planet has faced volatile energy markets and supply squeezes for decades. What’s different
World Oil WASHINGTON (Bloomberg) – Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries. They offer quite different visions of the world 25 years from now. The European energy major sees a future driven by technology and policy; the cartel presents a vision that
CNBC The CEO of energy technology firm Baker Hughes has outlined what he feels are key points related to the energy transition amid deepening concern about rising gas prices and the knock-on effects this could have in the months ahead. In an interview with CNBC’s Dan Murphy at the Gastech conference in Dubai, United Arab Emirates earlier this week, Lorenzo Simonelli was
Reuters LONDON – Royal Dutch Shell shareholders overwhelmingly backed the company’s energy transition strategy on Tuesday, but increased support for a second climate resolution filed by an activist group pointed to growing pressure to tackle climate change. A non-binding resolution submitted by Shell with the support of a large group of investors to vote on its recently unveiled climate strategy
Reuters LONDON – Mining companies need to invest nearly $1.7 trillion in the next 15 years to help supply enough copper, cobalt, nickel and other metals needed for the shift to a low carbon world, according to consultancy Wood Mackenzie. The United States, Britain, Japan, Canada and others raised their targets on cutting carbon emissions to halt global
Oil and Gas 360 A recent whitepaper authored by Charles McConnell with the Center for Carbon Management in Energy at the University of Houston, in collaboration with the Gutierrez Energy Management Institute, focused on the new technologies required for an energy transition, none more critical than the broad commercial deployment of carbon capture, utilization and storage, or CCUS. The ability
CNBC LONDON — The world’s dependency on fossil fuels is likely to get even worse in the coming decades, exacerbating the risk of a climate catastrophe as world leaders and CEOs repeatedly tout their commitment to the so-called “energy transition.” Policymakers are under intensifying pressure to deliver on promises made as part of the Paris Agreement ahead of this year’s COP26,
Reuters LONDON – Phasing out consumption of fossil fuels in favour of zero-emission sources of energy will cause major social and economic disruption, creating a large number of losers as well as winners. Policymakers have begun to focus on the need for a just or equitable transition to address some of these impacts and broaden political support for ambitious decarbonisation.
Reuters LONDON – The transition towards green energy imperils oil-producing states that have lagged in diversifying their economies, United Kingdom-based risk consultancy Verisk Maplecroft warned in a report on Thursday. “Algeria, Iraq and Nigeria will be among the first casualties of a slow-motion wave of political instability that will engulf an array of oil producing countries over the next 3-20
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