Markets

The transition from fossil fuels to renewable energy, while advancing, has not yet significantly diminished the critical role of crude oil in the global energy mix.

The UK government is set to introduce new environmental guidance for oil and gas companies operating in the North Sea.

Recent developments in North Sea exploration and Norwegian oil production highlight critical shifts in the energy landscape with significant implications for global markets.

The sale of Shell and ExxonMobil’s UK North Sea assets to Viaro Energy is a significant move that highlights several strategic shifts within the oil and gas sector amid the energy transition.

Canadian oil executives from companies like Cenovus Energy, Enbridge, Imperial Oil, Shell, and Suncor have strongly criticized a proposed cap on carbon dioxide emissions from the country's oil and gas production.

The South Pacific's government is planning to overturn the ban on new oil and gas exploration imposed in 2018, aiming to address energy security challenges posed by declining natural gas reserves.

Canada faces potential economic losses amounting to US$55B (C$75B) in upstream investment by 2035 if a stringent 40% emissions cap is enforced starting in 2030.

The British energy major is grappling with pressure to relax its ambitious pledge to significantly reduce oil and gas production by 2030.

Environmental activists, spearheaded by groups like the Sierra Club, are intensifying their efforts to persuade the US Biden Administration to halt the permitting of proposed crude oil export facilities.

Amidst a global shift towards renewable energy, Oman has reaffirmed its commitment to the essential role of hydrocarbons within its energy strategy, as expressed by industry officials at the Oman Petroleum and Crude Show in Muscat.