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Fosil Fuels
ExxonMobil Signs Deal to Explore 28,000 sq km in Offshore Namibia
ExxonMobil has signed a deal for new oil and gas exploration across 28,000 square kilometres in Namibia. The energy giant made the agreement with the Namibian Government and the National Petroleum Corporation of Namibia (NAMCOR) for blocks 1710, 1810, 1711…
Planned $4.9tn Oil and Gas Investment ‘Not Compatible with Climate Goals’
A planned investment of $4.9 trillion (£3.8tn) in new oil and gas exploration and extraction over the next decade is incompatible with international climate obligations. That’s according to new analysis by Global Witness, which claims any fossil fuel production and…
Shell to Invest $300m to Offset Carbon Emissions
Royal Dutch Shell has committed to invest $300 million (£230m) over the next three years in projects that help offset carbon emissions. It will fund large-scale forest projects in Indonesia, Peru and the US as part of its strategy to…
Coal Prices Continue to Rise, Becoming More Costly Than Solar and Wind Alternatives
Around three-quarters of US coal production is now more expensive than solar and wind energy in providing electricity to American households, according to a new study. “Even without major policy shift we will continue to see coal retire pretty rapidly,”…
IEA: Global Carbon Emissions Hit Record High in 2018
Global energy-related carbon dioxide (CO2) emissions hit a new record last year, with an increase of 1.7% globally. That was a result of higher energy consumption, which grew by 2.3% – nearly twice the average rate of growth since 2010,…
UK Offshore Oil and Gas Production up by a Fifth over past Five Years
UK offshore oil and gas production has increased by a fifth over the past five years, following 14 years of decline. That’s according to a new report from Oil and Gas UK (OGUK), which suggests momentum is again building around…
Could US Overtake Saudi Arabia as World’s Top Oil Exporter?
The US will start exporting more oil than Russia and could potentially overtake Saudi Arabia as the world’s top exporter in the next five years. The forecast from the International Energy Agency (IEA) comes after a “spectacular growth” of 2.2…