The Paris-based agency said failing to curb methane leaks from oil and gas projects was a “massive missed opportunity” to prevent losses and reduce emissions of the potent greenhouse gas. | Photo Credit: AP “Planet-heating methane released by the fossil fuel industry rose to near record highs in 2023 despite technology available to curb this … Read more
The CEO of Saudi Arabian oil giant Aramco on Monday pushed back against forecasts of peak oil demand, and said the narrative of the current energy transition was based on “unrealistic” assumptions and scenarios. Speaking at the World Petroleum Congress in Calgary, Aramco CEO Amin Nasser said talk of peak oil demand had come up … Read more
Oil prices rose on Friday on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand. Brent futures for March delivery gained 48 cents, or 0.6%, to $86.64 a barrel by 0113 GMT, while U.S. crude advanced 54 cents to $80.87 per barrel, a 0.7% gain. The … Read more
Oil prices dipped in early trade on Friday, extending the week’s losses as concern over tight supply was outweighed by escalating fear of sharp interest rate hikes slamming global growth and hitting fuel demand. Brent crude futures fell 22 cents, or 0.2%, to $90.62 a barrel as at 0052 GMT after sliding 3.5% to a … Read more
The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted a possible “global supply shock” in March. The IEA, after warning on March 16 that 3 million barrels per day (bpd) could be shut in … Read more
The United States and its allies are discussing a possible further coordinated release of oil from storage to help calm oil markets in the wake of Russia‘s invasion of Ukraine, U.S. energy secretary Jennifer Granholm said on Thursday. “With respect to the emergency stockpiles, these are ongoing discussions and all those tools are certainly on … Read more
Carbon emissions are set to hit an all-time high by 2023 as just two percent of pandemic recovery finance is being spent on clean energy, the International Energy Agency said on Tuesday. Countries have allocated more than $16 trillion (14 trillion euros) in fiscal support throughout the Covid-19 pandemic, mostly in the form of emergency … Read more
By William Mathis and Lars Paulsson A trio of Jack Dorsey, Cathie Wood and Elon Musk are promoting the idea that Bitcoin mining can be good for the planet actually. That’s not exactly true. The basis of the idea is that mining crypto currencies uses a lot of power and can be deployed at any … Read more
Global energy-related carbon dioxide emissions rose slightly in December compared with the same month of 2019, indicating the sharp drop seen due to the pandemic was short-lived. Figures released Tuesday by the International Energy Agency show emissions from the production and use of oil, gas and coal were 2% higher in December 2020 than a … Read more