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OIL

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Oil spill in Ecuador Amazon region blamed on 'sabotage'
May 11, 2023 (AFP)
The "sabotage" on the Trans-Ecuadorian Pipeline System (SOTE) caused a leak of crude that was "intentionally near a body of water" on the outskirts of Lago Agri...
Top French bank BNP to stop funding new gas projects
May 11, 2023 (AFP)
Although the policy change is a break from the past, when BNP had pumped cash into gas projects, the group did not rule out continuing to finance firms doing su...
Shell wins legal case over Nigeria oil spill
May 10, 2023 (AFP)
The Supreme Court said in a statement that its five judges "unanimously" rejected an appeal over the 2011 spill, upholding prior rulings that claims were not ma...
Greenpeace sues Italian energy giant Eni
May 09, 2023 (AFP)
The environmental organisation and fellow green campaigners ReCommon filed the suit in a Rome court along with 12 citizens from areas of Italy severely affected...
Church of England joins shareholder revolt on Shell climate goals
May 09, 2023 (AFP)
The CoE Pensions Board made its position known ahead of Shell's annual general meeting (AGM) due May 23, noting its dissatisfaction also with BP, another Britis...
US needs $30bn to seal 14,000 unplugged offshore oil and gas wells: study
May 08, 2023 (AFP)
Researchers in the United States found there are some 14,000 unplugged oil and gas wells that are either officially idle or have been inactive for at least five...
Shell caps blazing profits season for energy majors
May 04, 2023 (AFP)
BP and Shell in Britain, ExxonMobil and Chevron in the United States, and TotalEnergies in France have together logged more than $40 billion in net profits for ...
UN short $24 mn to fund operation to prevent Yemen oil disaster
May 04, 2023 (AFP)
A virtual donor conference on Thursday raised $5.6 million in new contributions towards the $129 million unprecedented rescue operation, in which the UN purchas...
Fund managers thirsty for oil despite green vows: report
May 04, 2023 (AFP)
The analysis found that 25 members of the Net Zero Asset Managers' initiative have a combined $417 billion in holdings in 15 oil and gas firms, including ExxonM...
Shell Q1 profits jump despite lower energy prices
May 04, 2023 (AFP)
Profit after tax leapt 22 percent to $8.7 billion (6.7 billion euros) from a year earlier, when it had faced a large $3.9 billion charge over its exit from Russ...
TotalEnergies sues Greenpeace over claims it 'underreports' emissions
May 03, 2023 (AFP)
Greenpeace in a November report said TotalEnergies' carbon emissions in 2019 "could be almost four times higher" than what the company reported for that year. T...
New York becomes first US state to ban gas in new buildings
May 03, 2023 (AFP)
The legislation adopted by lawmakers in the Democratic-run state legislature late Tuesday will require newly built homes to be all-electric in three years' time...
Iran forces seize second oil tanker in six days: US Navy
May 03, 2023 (AFP)
The Greek-owned tanker, Niovi, was sailing from Dubai towards Fujairah, another port in the United Arab Emirates, when it was stopped by Iran's Islamic Revoluti...
Iraq eyes deal on Kurdistan oil exports within weeks
May 03, 2023 (AFP)
Ankara stopped importing oil from Iraqi Kurdistan in March after the International Chamber of Commerce ruled the federal government in Baghdad was the only enti...
COP28 chief says fossil fuels have role to play
May 03, 2023 (AFP)
"We know that fossil fuels will continue to play a role in the foreseeable future in helping meet global energy requirements," Sultan Al Jaber said at a press c...
Iran forces seize oil tanker in Strait of Hormuz: US Navy
May 03, 2023 (AFP)
The tanker, Niovi, was sailing from Dubai towards Fujairah, another port in the United Arab Emirates, when it was stopped by Iran's Islamic Revolutionary Guard ...
Yemen firm says oil sector must pay up to prevent spill
May 03, 2023 (AFP)
Hayel Saeed Anam Group (HSA), which in August contributed $1.2 million to a United Nations clean-up campaign, made the appeal hours before a virtual donor confe...
BP back in Q1 profit after record loss on Russia exit
May 02, 2023 (AFP)
The company had posted for the first three months of 2022 its biggest quarterly loss ever, at $20.4 billion after taxes, after Moscow's assault on Ukraine and s...
Sudan's conflict has its roots in three decades of elites fighting over oil and energy
Apr 30, 2023 (SPX)
Much of the international news coverage has focused on the clashing ambitions of the two generals. Specifically, that differences over the integration of the pa...
BP faces angry shareholders over climate plans
Apr 27, 2023 (AFP)
Activists from Fossil Free London disrupted the speeches of board chairman Helge Lund and chief executive Bernard Looney, deriding changes to the energy major's...
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