Oil News and Gas News
November 24, 2024
OIL AND GAS
Russian ruble hits lowest level against dollar since March 2022



Moscow (AFP) Nov 22, 2024
The Russian ruble slumped on Friday to its lowest level against the US dollar since March 2022, a day after Moscow fired a hypersonic missile on Ukraine and Washington sanctioned a key Russian bank. The Russian currency has been highly volatile throughout Moscow's near three-year military offensive on Ukraine, reacting dramatically to developments on the battlefield and Western sanctions. The central bank set its official exchange rate for the ruble at 102.58 against the US dollar, data publishe ... read more

OIL AND GAS
Russia gave N. Korea oil, anti-air missiles in exchange for troops: officials
Seoul (AFP) Nov 22, 2024
Russia provided North Korea with oil, anti-air missiles and economic help in exchange for troops to support Moscow's war on Ukraine, government officials and a research group said Friday. ... more
OIL AND GAS
Brazil will not 'shy away' from fossil fuels issue as COP30 host: envoy
Baku (AFP) Nov 21, 2024
Brazil will not "shy away" from championing a phaseout of fossil fuels as host of COP30 next year, even if it is a major oil producer, the country's climate envoy said Wednesday. ... more
BIO FUEL
Turning emissions into renewable methane fuel
Los Angeles CA (SPX) Nov 21, 2024
Researchers at The Ohio State University have developed an innovative process to transform carbon dioxide (CO2) emissions into methane fuel using electricity from renewable sources, potentially resh ... more
BIO FUEL
Turning automotive engines into modular chemical plants to make green fuels
Boston MA (SPX) Nov 20, 2024
Reducing methane emissions is a top priority in the fight against climate change because of its propensity to trap heat in the atmosphere: Methane's warming effects are 84 times more potent than CO2 ... more
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OIL AND GAS
Arab Group rejects any COP29 text targeting fossil fuels
Baku (AFP) Nov 21, 2024
A Saudi official said Thursday that the 22-nation Arab Group would reject any UN climate deal that goes after fossil fuels at the COP29 talks in Azerbaijan. ... more
OIL AND GAS
Oil execs work COP29 as NGOs slam lobbyist presence
Baku (AFP) Nov 15, 2024
Oil executives descended on the COP29 talks in Baku for "energy day" on Friday as environmental groups denounced the presence of fossil fuel industry lobbyists at the UN climate talks. ... more
OIL AND GAS
Oil execs work COP29 as NGOs slam lobbyist presence
Baku (AFP) Nov 15, 2024
Oil executives and lobbyists descended on COP29 in Baku for "energy day" Friday, as environmental groups denounced the presence of the fossil fuel industry at the UN climate talks. ... more
OIL AND GAS
UK scrambles jets to monitor Russian military plane over North Sea
London (AFP) Nov 15, 2024
UK jets were scrambled to monitor a Russian reconnaissance aircraft flying close to UK airspace, the defence minister in London said on Friday. ... more

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OIL AND GAS
COP29: TotalEnergies chief defends oil's climate 'progress'
Baku (AFP) Nov 15, 2024
The head of French oil giant TotalEnergies admitted the sector's role in climate change on Friday but insisted it was making "continuous progress". ... more
OIL AND GAS
Trump taps oil exec, climate skeptic Chris Wright for energy secretary
Washington DC (UPI) Nov 16, 2024
President-elect Donald Trump on Saturday announced Denver-based oil executive Chris Wright as his choice for to head the Department of Energy. ... more
OIL AND GAS
Gore says 'absurd' to hold UN climate talks in petrostates
Baku (AFP) Nov 16, 2024
Former US vice president Al Gore told AFP Friday it was "absurd" for petrostates such as Azerbaijan to host UN climate talks, saying the selection process should be overhauled. ... more
OIL AND GAS
UN climate chief urges G20 to spur tense COP29 negotiations
Baku (AFP) Nov 16, 2024
The UN's climate chief urged G20 leaders on Saturday to push COP29 talks towards a deal to raise money for developing nations as diplomats struggled to find common ground in marathon negotiations. ... more
OIL AND GAS
'Major loopholes' let oil and gas firms leak methane
Paris (AFP) Nov 14, 2024
The world's major oil and gas companies have mostly vowed to stop leaking the extremely potent greenhouse gas methane into the atmosphere, but big loopholes in their pledges risk "exacerbating the climate crisis," a report warned Thursday. ... more
OIL AND GAS
Oil and gas investment vastly outstrips loss and damage aid: NGO
Paris (AFP) Nov 13, 2024
The oil and gas sector's production hit an all-time high last year with annual investment in deposit exploration averaging $61.1 billion (57.5 billion euros) between 2022 and 2024, German NGO Urgewald said in a report Tuesday, contrasting how that outstrips government climate damage pledges. ... more
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OIL AND GAS
Fossil fuel emissions to hit new record in 2024: researchers
Paris (AFP) Nov 13, 2024
Planet-warming carbon dioxide emissions from oil, gas and coal rose to a new record high this year, according to preliminary research Wednesday that found no sign the world was moving away from fossil fuels. ... more
OIL AND GAS
Leaders urge climate action - and defend fossil fuels - at COP29
Baku (AFP) Nov 12, 2024
Leaders of nations beset by climate disasters appealed Tuesday at the COP29 summit for greater urgency in fighting global warming, while others defended fossil fuels and their right to exploit them. ... more
OIL AND GAS
US finalizes waste methane fine on drillers, but future uncertain
Washington (AFP) Nov 12, 2024
US President Joe Biden's outgoing government announced on Tuesday a rule to impose fees on the oil and gas industry for waste methane emissions from drilling operations, despite doubts it will take effect under his successor Donald Trump. ... more
OIL AND GAS
Environment groups lose appeal in Shell climate case in the Netherlands
The Hague (AFP) Nov 12, 2024
Dutch judges ruled Tuesday against an appeal by climate groups who said oil giant Shell was not doing enough to curb its greenhouse gas emissions, striking down a landmark judgement three years ago. ... more
OIL AND GAS
Oil, gas 'gift of God', Azerbaijan president repeats at COP29
Baku (AFP) Nov 12, 2024
Azerbaijan's president, whose country is hosting the COP29 climate talks, on Tuesday repeated his insistence that oil, gas and other natural resources are a "gift of the God." ... more
OIL AND GAS
Court challenge begins against UK oil and gas field approvals
Edinburgh (AFP) Nov 12, 2024
Two environmental groups kicked off a legal challenge in Scotland on Tuesday to block the Rosebank and Jackdaw oil and gas fields in the North Sea, with activists optimistic of success after other favourable court rulings. ... more
OIL AND GAS
US warplanes attack Iran-backed Huthi targets in Yemen: Pentagon
Washington (AFP) Nov 10, 2024
US warplanes staged multiple strikes Saturday night on Iran-backed Huthi advanced weapons storage facilities in Yemen, the Pentagon said. ... more
OIL AND GAS
LNG's climate credentials a complicated issue
Paris (AFP) Nov 8, 2024
Liquefied natural gas (LNG) has positioned itself as a "transition" fuel to replace highly polluting coal. While LNG burns cleaner than coal, its climate impact is darkened by energy-intensive production and frequent leaks from gas fields. ... more
BIO FUEL
Sacred cow: coal-hungry India eyes bioenergy to cut carbon
Barsana, India (AFP) Nov 8, 2024
Venerated as incarnations of Hindu deities, India's sacred cows are also being touted as agents of energy transition by a government determined to promote biogas production to cut its dependence on coal. ... more
OIL AND GAS
Harnessing oil and gas windfall profits for climate funding
Berlin, Germany (SPX) Nov 09, 2024
Negotiations over new financial commitments from industrialized nations to aid developing countries will be a focal point at the upcoming UN Climate Change Conference starting November 11. A study i ... more
OIL AND GAS
Researchers advance hydrogen jet engine design for sustainable aviation
Zurich, Switzerland (SPX) Nov 09, 2024
Europe is making strides toward climate-neutral air travel with a focus on sustainably produced hydrogen as fuel. In support of this, the EU launched a project last year to aid industry and academia ... more
OIL AND GAS
U.S. secures 200 million barrels of oil for strategic reserve
Washington DC (UPI) Nov 8, 2024
The U.S. Department of Energy said Friday that 200 million barrels of oil have been bought and delivered for the strategic oil reserve. ... more
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OIL AND GAS
Venezuela signs defense, energy deals with Russia; Greek tanker crippled by Huthi rebels starts oil transfer
Caracas (AFP) Nov 8, 2024
Venezuela and its most powerful ally Russia signed agreements Thursday on intelligence-gathering and counter-espionage as well as energy cooperation during a visit by a senior Kremlin official to Caracas. ... more
OIL AND GAS
Time running out for Canada to meet climate target: audit
Ottawa (AFP) Nov 7, 2024
Canada is fast running out of time to implement policies to slash greenhouse gas emissions in order to meet its Paris Agreement target, the environment commissioner warned Thursday. ... more
OIL AND GAS
Iraq inaugurates docks for major new Gulf port
Basra, Iraq (AFP) Nov 7, 2024
Iraqi Prime Minister Mohammed Shia al-Sudani inaugurated five docks on Thursday at a major new port the country is building on its narrow Gulf coast. ... more
OIL AND GAS
Greek tanker crippled by Huthi rebels starts oil transfer
Athens (AFP) Nov 7, 2024
A Greek oil tanker crippled by Yemen's Huthi rebels and towed to avert an environmental disaster began transferring its cargo of over a million barrels on Thursday, the state-run ANA news agency said. ... more
BIO FUEL
Waste heat from London sewers eyed to warm UK parliament
London (AFP) Nov 7, 2024
London landmarks including the UK parliament could be warmed by low-carbon heat powered by the River Thames, the London Underground train system and even the sewer network under new government plans. ... more
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