As the energy transition quickens, global carbon capture, utilization and storage (CCUS) projects are on track to pull more than 550 million tonnes of CO2 out of the atmosphere every year by 2030, Rystad Energy research shows. This capacity growth represents a more than tenfold increase over today’s 45 million tonnes per annum (tpa) of

The Biden administration will offer oil and gas companies drilling rights on federal acreage in at least eight states in June, according to sale notices published on Monday. The announcements come days after the U.S. Department of Interior said it would resume oil and gas lease sales on public lands, a move that clashes with

The latest report from the Intergovernmental Panel on Climate Change (IPCC) released last week says it’s “now or never” for governments to start staving off emissions to save the planet from irreversible climate disaster. Rich countries seem to be choosing never, as governments approve multiple oil and projects across the globe. “We are at a

The urgency needed to start implementing the principles of the net-zero goal came up for debate between regional and global experts at a session during the Global Energy Forum. The forum took ‘The Geopolitics of Energy Transition’ as the theme to explore the challenges of ‘Oil and Gas in a Net Zero World’ and to

Annual oil and gas contracts activity rose 51 percent in disclosed contract value and nine percent in the number of contracts in 2021, GlobalData has revealed. According to a new GlobalData report, the disclosed contract value increased from $115.42 billion in 2020 to $174.21 billion in 2021 and the number of contracts rose from 5,750

Kemp: diesel fuel stocks in Europe are at their lowest since 2008. A further rise in diesel prices is expected as production still has to catch up. A crude oil shortage is invariably bad news for those that consume oil products. But when it comes to these products, a diesel shortage has the potential to

Global energy-related carbon dioxide (CO2) emissions rose by 6% in 2021 to 36.3 billion tonnes, their highest ever level, as the world economy rebounded from the pandemic and relied heavily on coal to power that growth, according to new IEA analysis. The increase in global CO2 emissions of over 2 billion tonnes was the largest

U.S. oil demand rose in December to its highest level since before the coronavirus pandemic began, the U.S. Energy Information Administration (EIA) said on Monday, with product supplied nearing 21 million barrels per day (bpd). Overall fuel demand was up 10% year-on-year in December at 20.8 million bpd, its highest since August 2019. Product supplied

62 percent of oil and gas companies are currently either unprofitable or just breaking even. That’s according to the 2022 BDO Energy CFO Outlook Survey, which noted that 2020 represented the costliest year in Chapter 11 bankruptcy filings for oil and gas, surpassing $100 billion of debt from more than 100 companies. The survey found

With global leaders in search of energy solutions that help achieve decarbonisation and enhance energy security, the global hydrogen energy transition market seems to be on track to becoming a major global energy source in its own right with the fuels use gathering momentum. Interest in low carbon hydrogen as a way to accelerate the