Total Energies eliminates Canadian oil sands and increases production in a market with reduced prices

French oil and gas giant Total Energies announced on Thursday that it had accepted a $4.1 billion offer from Suncor Energy to buy its carbon-intensive Canadian oil sands operations. There could also be further payments of up to $450 million.

The corporation initially intended to spin of...

After a surprising cut by OPEC and allies, European markets end the day lower, while oil and gas stocks rise by 4 percent.

Monday's slight decline across Europe's stock markets came as investors focused on the oil market in the wake of a surprise production cut by the OPEC+ alliance.

After being flat for most of the afternoon, the pan-European Stoxx 600 index ended up 0.1%.

Brent crude fut...

What's behind oil companies' advocacy for climate change technology

The oil industry appears to be doing well by most accounts. The demand for oil and gas is still very strong, and the industry made remarkable profits last year. But the industry is also feeling the heat to solve the climate crisis, and it wants a piece of the federal government's massive pie ...

Companies in the oil and gas industry are taking Los Angeles to court over the city's ban on oil and gas drilling.

Legal action has been taken against the City of Los Angeles by an oil business with operations in the Wilmington area as a result of the City's statute prohibiting the construction of new wells and phasing out drilling altogether. Warren Resources, the company that runs the 10-acre oil-extrac...

Taking control of the Sakhalin 1 oil and gas project is one of Putin's latest directives

A new operator for the Exxon Mobil Corp.-led Sakhalin-1 oil and gas project in Russia's Far East was established by a decree signed by Russian President Vladimir Putin on Friday.

Putin's action, which affects Exxon's largest investment in Russia, is similar to the method he ...

Europe must commit fully to diversifying its oil and gas sources

Energy-related decisions made in the past by Berlin and Brussels were terrible decisions that made Europe more reliant on Russian gas. Through this dependence, the Kremlin has been able to persuade certain countries—and occasionally the European Union (EU) as a whole—to support develo...

Environmental groups battle the Bay du Nord oil project in court and before the Norwegian public

In May, several protesters gathered in front of the Equinor offices in Newfoundland and Labrador to voice their opposition to the Bay du Nord oil project's approval.

Even after the federal government approved the Bay du Nord offshore oil project in Newfoundland months ago, environme...

US oil producers reject requests to unlock the taps to control war-related price increases

Seattle | America's biggest oil and gas producers are limiting their output despite pleas from the Biden administration to increase production and record profits from rising fuel costs brought on by Russia's conflict in Ukraine.

As strong crude and natural gas prices fill the in...

Unites States DOE to Invest 165million USD in Geothermal

The Geothermal Energy from Oil and Gas Demonstrated Engineering (GEODE) will receive 165 million USD from the U.S. Department of Energy for its initiative to leverage expertise from the gas and oil industry to fill the gaps in the knowledge and technology of geothermal energy.

Firstly a...

BP sells Jadestone an interest in oil-producing areas off the coast of Australia

Oil and gas company Jadestone Energy, which is listed on AIM and has its headquarters in Singapore, is growing its presence offshore Australia as a result of an agreement it reached with BP to purchase the oil major's stake in oil-producing fields that are a part of a project run by Australia...

As industry seeks access to renewables, the global oil and gas map is changing

According to consulting firm Wood Mackenzie Ltd., the oil industry's relationship with renewable energy is reshaping the global oil map.

According to Andrew Latham, vice president at Wood Mackenzie, in a new report, oil majors that want to reduce their carbon footprint will need to ...

What will happen next given the extreme volatility of the world's oil and gas prices

World oil and gas prices have been impacted by supply and demand shocks over the past two and a half years, occasionally both at once. Energy market volatility as a result is a microcosm and mirror of a faltering world economy.

As the Covid-19 pandemic expanded over the globe, the price...

Sanctions against Russian Oil and Gas failed, and we now know why

The Russian war on Ukraine, which began on February 24, 2022, has lasted approximately 100 days. Russia's fossil fuel exports have been largely blamed for fueling the country's war and atrocities.

The West has imposed sanctions to decrease its purchases of Russian oil and gas. R...

Scope 3 emissions divide European and US oil and gas businesses on the path to net-zero emissions

By mid-century, all European oil firms have pledged to achieve net-zero emissions of any type, a timeframe that scientists think will keep global warming to less than 2 degrees Celsius.

Customers, on the other hand, say that they should be held responsible for the carbon they emit by pa...

The world's largest wet gas potential in Australia has been discovered to be dry

The partners' hopes for a multi-trillion cubic feet gas discovery were dashed when Western Gas' highly awaited Sasanof exploratory well off the coast of Australia turned out to be a dry hole.

The Valaris MS-1 semi-submersible rig drilled the Sasanof-1 wildcat to a total depth of...

EU to 'Avoid Multiple Crises' by Reducing Oil and Gas Use and Increasing Renewable Energy

With the Trudeau government promoting LNG exports as a way for Europe to break free from Russian supplies, a new report claims that by 2030, the continent will have increased renewable energy and reduced fossil fuel use to just 18 per cent of total electricity generation, with the biggest importe...

The US Interior Department must consider the climatic consequences of oil and gas leasing

After Judge Rudolph Contreras of the United States District Court for the District of Columbia denied industry groups' motion to dismiss three previous settlements from lawsuits brought by western US conservation groups against the Interior Department's Bureau of Land Management, the requ...

Norway's oil and gas profits are soaring as a result of the war

The European Union's desperate search for alternatives to Russian energy has pushed up the demand and price for Norway's oil and gas.

As cash floods in, Europe's second-largest natural gas supplier defends itself against charges of profiteering from the Ukraine conflict.

Industry calls for Australia to 'unlock wealth' from new oil and gas fields clash with the International Energy Agency's caution

Appea head tells the conference that increasing supply is "certainly part of the solution" to decarbonizing the economy.

Representatives from the fossil fuel industry have joined the Morrison government in dismissing scientific warnings that no new oil and gas fields should be...

Biden stopped an oil and gas lease auction in Alaska. What effect will this have on gas prices

On the same day that the Biden administration canceled three oil-and-gas lease auctions, gasoline prices in the United States reached a new high.

Republican senators are citing rising gasoline prices as justification for selling more drilling leases on federal property, with some denoun...