Oil

The new U.K. “energy profits levy” shows how easily policy can be usurped by politics, bringing more unpredictability to the energy transition. The new U.K. “energy profits levy” shows how easily policy can be usurped by politics, bringing more unpredictability to the energy transition. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All…

LONDON—The U.K. said it would impose a temporary levy on oil-and-gas producers to help soften the pain of soaring energy prices on consumers, a rare so-called windfall tax aimed at blunting a worsening cost-of-living crisis. British officials said Thursday they will introduce an “energy profits levy” of 25% that will eventually phase out as oil and gas prices decline. They said the surcharge amounts to an additional tax on top of current rates, effective immediately and lasting…

With the EU still wrangling with Hungary over the ban on Russian oil, the market jitters over tight supply fears. European Council President Charles Michel says he is confident that an agreement can be reached before the council's next meeting on May 30.…

Following the Ukraine conflict, American energy firms have taken the opportunity to increase energy production putting action against climate crisis on the back-burner. US energy firms seek to rake in higher profits and ramp up production following the conflict in Ukraine.…

Major US and European oil and gas companies are failing to meet the bare minimum of their promises to reach net zero by 2050 in order to align with the Paris Agreement, according to a new study released today. Big Oil’s climate plan failure The report, titled “Big Oil Reality Check,” was released today by Washington, DC-based Oil Change International in collaboration with over 35 global organizations. The report, which updates an inaugural 2020 study, analyzes the latest climate pledges of BP, Chevron, Eni,…

Caroline Dennett was in her 11th year as an operational safety consultant working with the oil giant Shell when she saw a news clip of a climate protest outside of its UK headquarters. One of the protesters, from the group Extinction Rebellion, carried a sign that said “Insiders wanted,” asking employees to get in touch if they had something to say. She did. On Monday, Dennett said it as publicly as possible — breaking her contract with the company in an email sent to the executive committee at Shell over its…

Speaking to CNBC on Monday, the executive director of the International Energy Agency spoke about the intricacies of the energy transition and the competing challenges that will need to be balanced in the years ahead.Imaginima | E+ | Getty ImagesThe executive director of the International Energy Agency spoke of the current challenges facing global oil markets on Monday, highlighting the significant influence Chinese demand could have over the next few months.In an interview with CNBC at the World Economic Forum in Davos,…

. This week has been a big one in the EU, with the European Commission going all-in on renewable energy and, in particular,solar.  In March 2022, following the invasion of Ukraine by Russia, the European Union committed to entirely phase out its dependency on Russian gas, oil, and coal imports. It asked the European Commission to develop a plan on how to do so by the end of May 2022. The REPowerEU plan is the result. An intensive commitment to renewables The…

Study site showing locations of magnetite packs and core samples (modified from USGS, 2020). Transect A–A' is shown in Figure 2. Mineral columns are shown as red circles. Core samples are shown as black circles for core samples retrieved in 2016 (1604), 2017 (1713, 1709, 1714), and 2019 (1902, 1903, 1905). Credit: Journal of Geophysical Research: Biogeosciences (2022). DOI: 10.1029/2021JG006560 In August 1979, an oil pipeline…

Breadcrumb Trail Links PMN Politics PMN News PMN Canada Author of the article: The Canadian Press Dean Bennett Premier-Designate Jason Kenney addresses the media the day his after his election victory in Edmonton on Wednesday April 17, 2019. Photo by JASON FRANSON /THE CANADIAN PRESS Article content EDMONTON — Alberta Premier Jason Kenney, at the founding convention of his United Conservative Party in 2018, said he’d consider members’ input on policy but the bottom line was simple:…