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Oil giant Shell on Thursday announced that CEO Ben van Beurden will step down at the end of the year after nearly a decade at the helm. Wael Sawan, currently Shell’s director of integrated gas, renewables and energy solutions, will become its next chief executive on Jan. 1.
The U.N. secretary general said Tuesday that developed economies should impose an extra tax on the profits of fossil fuel firms, with the funds diverted to countries affected by climate change and households struggling with the cost-of-living crisis.
North America added 10 rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on September 16. Six of the 10 weekly additions came from Canada, with the remaining four coming from the U.S., the rig count highlighted. Canada added six oil rigs week on week, whereas the U.S. added eight oil rigs, and dropped four gas rigs, week on week, Baker Hughes’ count showed.
As the world increases efforts to transition to a low-carbon economy, the issue of carbon management has become urgent for the oil and gas sector, which faces the dual challenge of meeting growing energy needs with fewer emissions. From new technologies to cleaner energy sources, Aramco has sought to tackle this challenge by investing in key areas that advance sustainability.
Production has restarted and liquefied natural gas cargoes have resumed from Shell’s Prelude foating LNG facility offshore Western Australia following a near three-month outage.The outage was due to a workers' industrial action that lasted 76 days, with Shell halting the loading of LNG cargoes on 28 June.
Australian LNG producer Origin Energy has agreed to sell its interest in the high-potential shale gas play of the Beetaloo sub-basin as part of a process of exiting the upstream exploration business.The move is part of a strategic shift to grow cleaner energy and customer solutions, and deliver reliable energy through the transition, Origin said today.
U.S. Secretary Jennifer M. Granholm has announced a new Department of Energy goal to make enhanced geothermal systems (EGS) a widespread renewable energy option in the U.S. by cutting its cost by 90 percent to $45 per megawatt hour by 2035.
The Greek coastguard confirmed that it fired ‘warning shots’ as the captain of the cargo vessel refused to allow an inspection after it was observed ‘moving suspiciously’ in Greek territorial waters off the island of Lesbos, the MSTA noted.
Gas prices could jump again this winter following a months-long decline in the United States, Treasury Secretary Janet Yellen warned Sunday, as the European Union plans to largely stop buying Russian oil in December over the war in Ukraine.
Modern societies are still very much dependent on oil and gas resources for their smooth functioning. However, natural oil and gas resources are limited and non-renewable. In order to keep up with the growing demand for hydrocarbons, we need to find and secure alternate sources of natural oil and gas. Fortunately, a massive and mostly untapped reserve of oil and gas waits beneath us.
Saudi Aramco, the world’s largest oil exporter, has fired the starting gun for the expansion of its giant Manifa offshore oilfield. Two people familiar with the bid process told Upstream that Aramco recently issued tender documents for the Manifa project to its select group of long-term agreement (LTA) players, which together compete for all of the country’s offshore brownfield and expansion projects.
As carbon capture and storage (CCS) becomes an increasing focal point for governments’ energy transition plans around the world, there is growing optimism that the UK’s first two industrial decarbonisation schemes will be in place by the mid-2020s.
Petrobras is considering the potential of offering carbon capture and storage solutions for third-party industrial emissions in its native Brazil as part of a potential diversification strategy from the company’s key upstream oil and gas operations.
European economies are facing an energy crisis and soaring prices over the coming months. There have been concerns in some quarters that the increasing cost of charging an EV will disincentivize uptake among consumers. “The cost advantage for electric vehicles versus a gasoline car is fast diminishing here in Europe, and I’m really wondering to what degree that will begin to impact sales for EVs,” Saxo Bank’s Peter Garnry tells CNBC. Recent comments from Elon Musk about the need for more oil and gas reflect a broader concern that the uptake of electric vehicles will be hampered by rising electricity prices, according to the head of equity strategy at Saxo Bank.
The water energy nexus refers to the close relationship between the two resources. This link has been thrown into sharp relief over recent months, especially in Europe. In an interview with CNBC last week, the CEO of Snam spoke about why it was important to value water. The link between energy production and water is of crucial importance and we need to value the latter resource far more going forward, according to the CEO of a leading gas infrastructure firm.
Contractors Dinesh Pai, Dawood, Selvam, Yogish and Prathap told reporters here on Saturday that a sum of Rs 2.56 crore is due and is yet to be paid to contractors, whose services were utilised for various work as part of the project
European governments have been seeking alternatives to gas from main supplier Russia since Moscow ordered troops into Ukraine in late February, with Europe's power costs surging as Russian flows dropped