Day: February 25, 2024
How the Western Hemisphere Became The Driver of Oil Production Growth
For decades, the Eastern Hemisphere had been the biggest driver of global oil production growth. Until a decade ago, when the Middle Eastern oil producers – bound by the OPEC cartel – started yielding the growth momentum to the Western Hemisphere with …
Mexico’s President Has Failed to Deliver on Clean Energy Promises
Mexico’s progress on its clean energy transition is headed in reverse. The nation’s greenhouse gas emissions from the energy sector increased by 11% last year to reach a five-year high of more than 175 million metric tons of carbon dioxide (CO2). This …
Green Chemistry Breakthrough: Researchers Create Ethylene from CO2
Engineers at the University of Cincinnati created a more efficient way of converting carbon dioxide into valuable products while simultaneously addressing climate change. The study paper has been published in the journal Nature Chemical Engineering. In…
Exxon Mulls Sale of Vaca Muerta Shale Assets
ExxonMobil is considering a sale of its Vaca Muerta shale assets in Patagonia and has received several offers of holding already, anonymous Bloomberg sources revealed on Friday. The U.S. oil giant’s assets that will be sold include assets owned as part…
Goldman Raises Forecast of Brent Oil Summer Price to $87
Faster-than-expected land inventory drawdowns due to seaborne trade disruptions from the Red Sea crisis have prompted Goldman Sachs to revise up its forecast for summer peak Brent Crude prices to $87 per barrel, up by $2 from earlier expectations. “…
Australia Looks To Bolster Oil and Gas Industry Despite Climate Pledges
Australia has big plans for its oil and gas industry, despite calls from environmentalists to reduce its fossil fuel output. The country’s biggest company, Woodside, is planning to expand its exploration activities in response to the growing energy dem…
Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week:
Cargojet results
Cargojet Inc. will report its fourth-quarter results and hold a conference call with investors before markets open on Monday. The report comes aft…
Canada Oil Faces Fresh Pipeline Shortage
For years, Canadian oil producers have been struggling with insufficient pipeline capacity to take their products to buyers. Anti-pipeline policies have been a big reason for that, along with environmental opposition. Now, the same government that has …