A cap on revenue and the lack of the kind of incentives offered to oil explorers are blocking the development of renewable energy in Britain, say industry officials who are pressing for changes ahead of this week's budget.The British government has set targets for major increases in wind generation…
Oil and gas companies Energean and Shell have signed a memorandum of understanding to explore a decarbonization solution in Egypt involving Shell's LNG plant and Energean's offshore CO2 storage. The proposed partnership is addressing a major CCS feasibility challenge…
The United Nations has purchased a large tanker to store about 1.1 million barrels of oil that will be transferred from a decaying vessel off Yemen's coast in a bid to avert an environmental disaster, officials said on Thursday.U.N. officials…
The chief executive of Saudi Arabian state oil company Aramco will not attend an energy conference organized by S&P Global [this] week, the event's updated schedule showed.Amin Nasser, head of the world's largest oil company, had been listed as delivering a keynote address at CERAWeek…
Oil and gas producer Wintershall Dea swung to a loss last year, hit by significant impairments and losses related to Russia's war in Ukraine, it said on Thursday.Wintershall reported a group net loss of 4.8 billion euros ($5.1 billion), including 7 billion euros in one-off…
Europe will struggle over the next two winters to replace Russian natural gas supplies as China's appetite for the fuel recovers, the chief executive of Norwegian energy giant Equinor told Reuters on Tuesday.Equinor became Europe's top natural…
The U.S. government is not planning a systematic easing of sanctions on Venezuela after an initial round allowed partners of state-run oil firm PDVSA to resume taking oil for past debts, a State Department official said.In November, Washington issued a six-month license allowing Chevron Corp…
BP hasn't fallen out of love with renewables. It just wants to have more power. CEO Bernard Looney's pursuit of green energy outstripped all rivals three years ago when he outlined a radical blueprint to move away from fossil fuels. Last month he applied the brakes…
Big Oil more than doubled its profits in 2022 to $219 billion, smashing previous records in a year of volatile energy prices where Russia's invasion of Ukraine reshaped global energy markets and, in some cases, the industry's climate ambitions…
Shell has reportedly threatened legal action against Greenpeace activists who last week boarded a heavy load carrier carrying Shell's Penguins FPSO, destined for deployment in the UK North Sea.Last Tuesday, four activists climbed aboard the…
Oil prices slumped on Friday after the Wall Street Journal reported that the United Arab Emirates had an internal debate about leaving the Organization of the Petroleum Exporting Countries and pumping more oil.Brent crude futures fell $1.57…
France and Spain announced a breakthrough on Thursday in a long-running impasse over what would be their first undersea electricity link.Spanish competition watchdog CNMC and French energy regulator CRE gave the go-ahead to a new cost-sharing…
Russia will seek to gather more intelligence about Norway's oil and gas infrastructure as part of an effort to put pressure on European energy supplies, the Nordic country's police security agency (PST) said in its annual threat assessment on Monday…
Offshore seismic survey firm PXGEO said Wednesday it had secured work with oil major Shell.The company said it had secured a vessel commitment from Shell to provide 12 months of high-end marine towed streamer seismic acquisition services.PXGEO will be providing the services over a two-year period…
Shell's recent discovery at the Pensacola prospect could be 'one of the largest natural gas discoveries in the Southern North Sea in over a decade.' This is according to Deltic Energy, Shell's partner in the project, which said that Deltic pre…
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