climate change

While uncertainties remain for the coming year, there is also optimism for the upstream industry, a welcome prospect following two sharp downcycles in less than 6 years.

COP26 concluded with mixed results. The journey to achieving the goals of the Paris Agreement will not be easy, and no one thought it would be. Even before COP26 began, a pledge made in 2009 and reaffirmed at the 2015 Paris meeting was stirring up frustration.

The Russian oil and gas company is combining its experience with that of the leading nuclear-power producer to develop hydrogen and decarbonization projects on Sakhalin Island.

As COP26 looms, the International Energy Agency says governments must send an “unmistakable signal” about clean energy ambition and action if the world wants to avoid the worst effects of climate change.

Scientists from around the world have declared definitively and in unison that global warming is real and that it has been unequivocally caused by human activity. The next move, they said, is up to the world’s leaders.

Greenland may have said “no” to oil and gas, but its vast mineral wealth is up for grabs as the world’s biggest billionaires invest to claim metal reserves needed to manufacture batteries.

Norway appears to be taking a dual approach to energy transition. In its just-released energy white paper, the Norwegian government says it is committed to producing renewable energy and bolstering its power grid but isn’t willing to halt development of its oil and gas resources.

Robert K. Perrons, a professor at the Queensland University of Technology in Brisbane, recently addressed the United Nations on the role of oil and gas in the global energy mix.

Oil isn’t going away, but that misses the fact that a demand plateau will structurally change the industry for people and companies in the most geologically mature areas, especially the United States.

In a joint communiqué, the Group of Seven nations has called for an “absolute end” to new direct government support for unabated international thermal coal power generation by the end of 2021 and for fossil fuel financing to keep the objectives of the Paris Agreement within reach.