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Exxon Loses Board Seats to Activist Hedge Fund in Landmark Climate Vote

May 27, 2021

A tiny hedge fund dealt a major blow to Exxon Mobil Corp on Wednesday, unseating at least two board members in a bid to force the company's leadership to reckon with the risk of failing to adjust its business strategy to match global efforts to combat climate change.The success by hedge fund Engine No. 1 in its showdown with Exxon shocked an energy industry struggling to address growing investor concerns about global warming…

UAE's Jaber Urges Pre-COP28 Summit to Align on Fossil Fuel, Renewables Language

Oct 30, 2023

The United Arab Emirates President of COP28 said on Monday he was aware countries had strong views about including language on fossil fuels and renewables in the negotiated text of the UN climate summit but that common ground must be found.'I…

US, EU Lawmakers Push to Depose UAE's Jaber from Climate Talks

May 24, 2023

Over 100 members of the U.S. Congress and European Parliament called on Tuesday for Sultan al-Jaber to be removed as the designated head of the upcoming COP28 climate talks, saying the oil exec's appointment threatened the integrity of negotiations…

Big Oil's Credit Risk Increased after Dutch Court Ruling, Investor Pressure

May 28, 2021

Rating agency Moody's said on Friday that the credit risk of major oil producers has increased with recent events including Royal Dutch Shell losing a Dutch climate lawsuit this week and Exxon losing a battle with shareholders.Chevron also lost…

Asia, Australia Snub IEA's Call to Halt new Fossil Fuel Investments

May 19, 2021

Asian energy officials on Wednesday disputed the International Energy Agency's (IEA) call for no new oil, natural gas and coal investments for the world to be able to reach net-zero carbon emissions by 2050, viewing that approach as too narrow…

Petronas Sets Net Zero Emissions Target

Nov 06, 2020

Malaysian oil giant Petronas has announced its plan to achieve net-zero carbon emissions by 2050.The company'  President and Group Chief Executive Officer, Tengku Muhammad Taufik said: 'As the world contends with the many challenges brought about by energy transition…

DNV GL: Oil Demand, CO2 Emissions Probably Peaked in 2019

Jul 01, 2020

Global oil demand and carbon dioxide emissions probably peaked in 2019 as the COVID-19 pandemic will have a lasting impact on both, energy consultancy DNV GL said on Wednesday.The Norway-based consultancy, which advises both petroleum and renewable energy companies on risk management and technology…

Current News

PTTEP Buys Wintershall Dea's Share in Abu Dhabi’s Ghasha Concession

PTTEP Buys Wintershall Dea's Share in Abu Dhabi’s Ghasha Concession

Temasek to Finalize Deal with Shell for Pavilion Energy LNG Asset Sale

Temasek to Finalize Deal with Shell for Pavilion Energy LNG Asset Sale

Valeura’s Newly Acquired FSO Aurora Checks in at Nong Yao Field Offshore Thailand

Valeura’s Newly Acquired FSO Aurora Checks in at Nong Yao Field Offshore Thailand

Hengyi Steps Up Fuel Oil Exports from Brunei After Refinery Fire

Hengyi Steps Up Fuel Oil Exports from Brunei After Refinery Fire

China, Pakistan Agree to Strengthen Oil and Gas Cooperation

China, Pakistan Agree to Strengthen Oil and Gas Cooperation

CNOOC Makes Major Gas Discovery in South China Sea Waters

CNOOC Makes Major Gas Discovery in South China Sea Waters

TotalEnergies Inks Two LNG Supply Deals in Asia

TotalEnergies Inks Two LNG Supply Deals in Asia

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