Fossil Fuels

A new report finds that global financial institutions have continued to invest in oil, gas, and coal at elevated levels since the Paris Agreement, despite calls to accelerate the energy transition.

A Senate committee published the latest instalment of a multi-year investigation after obtaining a vast trove of internal documents from oil industry giants ExxonMobil, Chevron, BP, and Shell. The report alleges the efforts to slow climate action continue to this day.

Suriname is estimated to have 17 trillion cubic feet of gas reserves, which if proven would surpass those of Mexico and Brazil.

Last year’s COP28 provided an important framework for discussing a new energy systems order where fossil fuels would be less central, one analyst said.

The move comes as experts warn of a growing “reputational risk” for institutions like Cambridge University if they collaborate with oil and gas companies.

Future imports from Venezuela align with the Colombian government’s strategy, the chief executive of Ecopetrol told conference delegates.

An announcement this week at the Arpel-Naturgas conference in Cartagena suggests that the administration of Colombian President Gustavo Petro is putting more emphasis on Venezuelan gas than domestic alternatives.

Beijing’s actions in the South China Sea could derail Vietnam’s national energy plan, which aims to more than double electricity generation capacity.

Several natural gas projects are under development in South Africa as the country seeks to ease energy shortages and reduce its dependence on coal, but there are calls for more renewables to be added to the energy mix.

Lack of progress in breaking ground on new projects, coupled with a challenging regulatory environment for Asian renewables, is hindering the region’s progress, the report said.

The Trafigura-Greenergy deal highlights the growing importance of biofuels in the UK and European landscape, experts said.

The UK government said in February that the country will leave the Energy Charter Treaty (ECT) after the failure of efforts to align it with net zero, joining nine EU Member States including France, Spain and the Netherlands.

Researchers recorded nearly 1 million measurements across major U.S. oil and gas production sites, and found methane emissions far higher than U.S. EPA data suggests.

Thailand and Cambodia are discussing joint Gulf of Thailand oil and gas exploration, but territorial disputes still pose a challenge.

Shell has sold its Nigerian subsidiary to a local consortium for $2.4 billion, exiting onshore, prompting experts to raise environmental and legal concerns.