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Excitment grows around Saudi Aramco IPO

Excitment grows around Saudi Aramco IPO

The upcoming public share offering of Saudi state-owned oil giant Aramco, considered to be one of the world’s largest and most-valuable companies, will have a significant impact on financial markets around the world, according to industry experts. The highly-anticipated part-privatisation, expected to take place by 2019, has become emblematic of […]

NEW DELHI, INDIA - NOVEMBER 6: Piyush Goyal, minister of state for power, coal, new and renewable energy, at the World Economic Forum, on November 6, 2014 in New Delhi, India. (Photo by Ramesh Pathania/MINT)

Piyush Goyal: Coal as important as renewables for India

Indian Energy Minister Piyush Goyal has spoken out on behalf of Indian coal and said that the fuel is just as important for India as the renewable energy sector – despite new research claiming India could be coal-free by 2050. A report from The Energy and Resources Institute (TERI) in […]

Exxon downgrades oil reserves estimates

Exxon downgrades oil reserves estimates

American multinational Exxon Mobil Corporation, one of the world’s largest oil and gas companies, has announced plans to remove around 15% of unprofitable oil reserves from its books. It is believed that the driving force behind Exxon’s lower reserves estimates are Canadian oil sands considered too expensive to extract at […]

Drilling at Marathon Oil Corp.'s operations in the Eagle Ford Shale formation in South Texas. (Photo courtesy of Marathon Oil)

US shale to peak in 2026

The US Energy Department believes that US shale oil production will begin to decline in less than a decade as reserves are drawn down and well output decreases. US shale and tight oil production, currently around 4.9 million barrels a day, is projected to peak at 6 million barrels in […]

Lords: climate change policies increase risk of blackouts

Lords: climate change policies increase risk of blackouts

A damning House of Lords report has attacked government climate change policies for increasing the risk of blackouts and pushing up household energy bills. The Lords’ Economic Affairs Committee (EAC) heard from energy analysts and experts as part of its inquiry into electricity market reform, with environmental regulations found to […]

A worker looks at a pump jack at the Rosneft company owned Samotlor oil field outside the West Siberian city of Nizhnevartovsk, Russia, January 26, 2016. Picture taken January 26, 2016. REUTERS/Sergei Karpukhin - RTX24D2A

Russian oil giant looks to return to peak production

The oil field which once supplied 40% of government revenue to the Soviet Union is set to increase production after years of reduction. The Samotler field is a sleeping giant which transformed Soviet oil production when it opened in 1969, as it marked a shift in regional focus to the […]

LONDON, ENGLAND - MARCH 26:  A general view of the Houses of Parliament on March 26, 2015 in London, England. Parliament is to dissolve on March 31st leaving six weeks of political party campaigning until the general election on May 7, 2015.  (Photo by Dan Kitwood/Getty Images)

Peers demand Government put energy security first

One of the UK’s leading parliamentary committees has released a scathing assessment of the country’s energy system, saying it must focus on energy security above all else. The Lords Economic Affairs Committee said that the Government’s pursuit of decarbonisation goals had put “unnecessary pressure on electricity supply”. The capacity margin […]

£450m in green subsidies to burn wood pellets at Drax

£450m in green subsidies to burn wood pellets at Drax

A leading British think tank, Chatham House, has today warned that the UK is wasting hundreds of millions of pounds on burning American wood pellets in biomass generators – and that the practice causes more pollution than the coal it replaced. The UK imported 7.5 million tonnes of wood pellets […]