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Asian countries prioritising development over climate goals

Asian countries prioritising development over climate goals

Countries across Asia are increasingly finding themselves torn meeting emissions reductions targets and meeting economic development goals, and in many cases are prioritising development over limiting emission. Asia has 2,000GW of coal fired power plants that are either under construction or fully operational, with China and India increasing coal power […]

Chevron re-introduces capital spending budget

Chevron re-introduces capital spending budget

Chevron is set to spend $20 billion next year on oil and gas projects in its first increase in spending in four years, the second largest US producer has announced. Earlier this year, Chevron executives set its high end 2019 capital budget at between $18 billion to $20 billion through […]

Oil prices drop nearly 5% on concerns over size of OPEC cut

Oil prices drop nearly 5% on concerns over size of OPEC cut

Oil prices plummeted by nearly 5% on Thursday after Saudi Arabia said OPEC and its allies were working towards reduced cuts, causing concerns that the bloc is struggling to deal with the recent supply glut ahead of its meeting. Saudi energy minister Khalid al-Falih said OPEC and allies, including Russia, […]

Renewable sector concerned over Australia’s green energy push

Renewable sector concerned over Australia’s green energy push

Elon Musk has accepted that Australia must be cautious over its transition to renewables, stating that developers of wind and solar energy farms are not meeting industry standards. The French clean energy company Neoen, which has work alongside Musk’s Tesla on a battery farm in South Australia, has reiterated concerns […]

COP24 host Poland defends use of coal

COP24 host Poland defends use of coal

COP24 host and Polish President Andrzej Duda has told coal miners in the country that the industry will continue to play an important role in Poland. Speaking to miners in the southern town of Brzeszcze, Duda said Poland “will continue to rely on coal. Of course, we’ll achieve an energy […]

Faroe Petroleum in asset swap deal with Equinor

Faroe Petroleum in asset swap deal with Equinor

British firm Faroe Petroleum, which was subject to a hostile bid by DNO, has agreed a deal that will see it swap oil and gas assets with Norwegian state-owned company, Equinor. The non-cash deal will enhance Faroe’s output and cash flow while securing Equinor’s stakes in fields located in the […]

Exxon looks to sell Azeri stake

Exxon looks to sell Azeri stake

Exxon Mobile is looking to sell its stake in Azerbaijan’s biggest oil field as the US oil and gas giant re-focuses its global operations, according to industry and banking sources. Industry and banking sources told Reuters, the Texas based firm is hoping to raise $6 billion from its 6.8 percent […]

Russian oil dips ahead of OPEC meeting

Russian oil dips ahead of OPEC meeting

Russia’s oil production dipped last month according to new federal data which comes just days ahead of an OPEC summit that is expected to result in another production cut. Data from November shows Russian output had dropped to 11.369 million barrels per day from 11.41 million bpd in October. Prior […]