Drilling activity is on the rise, but cost inflation and snarled supply chains will keep production growth in check.

The divestment of European banks from fossil fuels projects is slowly but gradually gathering pace, a director at BlackRock, the US investment management firm, said at the Flame Conference in Amsterdam.

As a result of western sanctions on Russia, there will be almost no new supply from Arctic LNG in 2024 and 2025, he said.

Constrained by a court decision, the Biden administration said it would auction off land for new oil and gas drilling. But climate activists see the move as backtracking on climate progress

Wood Mackenzie makes five key points that governments and business should consider as they grapple with the twin challenges of energy security and meeting emissions reductions targets.