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Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021

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Saudi oil giant Aramco reports record profit of €151 billion for 2022

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An oil tanker is moored at the Sheskharis complex, part of Chernomortransneft JSC, a subsidiary of Transneft PJSC, in Novorossiysk, Russia, on Oct. 11, 2022.

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EU ban on Russian oil imports comes into force

The EU and G7 countries have also expanded the existing price cap on Russian crude oil to include all refined products.

06/02/2023

The UAE has appointed CEO of ADNOC Sultan Al Jaber as COp28 President.

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Al Jaber says the UAE will take an “inclusive approach” that encompasses all stakeholders - especially those from the Global South who are most impacted by climate change.

12/01/2023

the sale of fossil fuels is Russia's main source of revenue, representing over 40% of its federal budget.

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Russia is losing €160 million per day due to Western sanctions on oil

A new report gives a clearer picture of the double impact inflicted on Russia by the EU's oil embargo and the G7's price cap.

11/01/2023

Patrick Janssen, co-founder of the organisation Dung Dung, shows a tile made from recycled human hair.

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How can human hair be used to fight pollution?

Belgian NGO Dung Dung uses human hair clippings to absorb environmental pollutants in water.

29/12/2022

Flares burn off methane and other hydrocarbons at an oil and gas facility in Lenorah, Texas, Oct. 15, 2021

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Exxon tries to block new EU windfall tax on oil companies

The US oil giant argues Brussels went beyond its legal authority by imposing the levy.

28/12/2022

Russian President Vladimir Putin and Belarusian President Alexander Lukashenko during their meeting.

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Ban in response to $60 cap on Russian oil agreed by Western countries

Moscow has announced a ban on the export of crude oil to countries that have introduced price caps on Russian oil and petroleum products.

27/12/2022

HSBC has updated its climate policy to reduce funding for oil and gas.

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Which global bank is cutting financing for new oil and gas fields?

Campaigners say the decision sets a "minimum level of ambition for all banks committed to net-zero."

14/12/2022

An EU ban on imports of oil from Moscow came into effect on Monday

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Russian oil cap not meant to disrupt markets - Timmermans

An EU ban on oil imports from Moscow also came into effect on Monday.

05/12/2022

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OPEC sticks to policy of reducing oil output

The Group often acts to change the supply and demand of oil, in order to control market prices and ensure high revenues for its members. But it says it's ready to meet at any time to “address market developments if necessary.”

05/12/2022

A local resident opens the curtains on a window with a view of the Gazprom Neft's oil refinery in Omsk, Russia November 18, 2022.

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Price cap on Russian oil comes into force despite Moscow's threats

The $60-a-barrel cap on Russian oil approved by the G7 comes into force on Monday despite Moscow's threats.

05/12/2022

An oil tanker moored at the Sheskharis complex, part of Chernomortransneft JSC, a subsidiary of Transneft PJSC, in Novorossiysk, Russia

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Price cap on Russian crude oil exports to come into effect

A price ceiling on Russian seaborne crude oil agreed upon by Australia, the EU and G7 nations will come into effect on Monday, with a cap on refined petroleum products due in February next year.

05/12/2022

The sale of crude oil and refined petroleum products represents Russia's biggest source of revenues.

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EU countries agree to cap Russian oil at $60 per barrel

EU ambassadors spent the last few days debating the level of the price cap, which will have implications across global markets.

02/12/2022

The G7 price cap will have a direct impact on the the maritime trade of Russian crude around the world.

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EU talks to cap Russian oil prices hit impasse as key deadline nears

The latest proposal to cap Russian crude at $62 per barrel was deemed too high by Poland and the Baltic states.

29/11/2022

636 oil and gas lobbyists registered to attend the COP27 event in Egypt

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Over 600 fossil fuel lobbyists registered at COP27 climate talks

“Those perpetuating the world's fossil fuel addiction should not be allowed through the doors of a climate conference”, campaigners say.

10/11/2022

Wednesday's protest was a rare show of activism at COP27.

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Climate campaigners protest at COP27 despite restrictive rules

Protest is limited at the climate conference in Sharl El Sheikh with actions confined to a designated area.

09/11/2022

The G20 and global development banks spent nearly twice as much financing international fossil fuel projects as they did on renewables from 2019 to 2021

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These European countries are pouring billions into fossil fuels abroad

The astronomical funding is a 35 per cent decrease from the 2016 to 2019 period - but nonetheless jeopardises crucial climate pledges.

02/11/2022

Fatih Birol called OPEC's recent decision to cut down oil production "very risky" and "unfortunate."

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'Russia will lose the energy battle,' says IEA chief Fatih Birol

Europe was by far Russia's largest market and client and "Russia lost this client forever", the International Energy Agency chief said in an interview with Euronews.

28/10/2022

All unleased state-owned land and sea on the Arctic North slope will be up for grabs covering roughly 3.24 million hectares in total.

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Alaska to auction a Netherlands-sized area to oil and gas companies

The state auction of arctic land will likely lead to an expansion of oil and gas production in the Arctic.

21/10/2022

Turkey's powership company Karpowership said it's discussing supplying its floating power plants to 4 European countries.

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Are these floating 'powerships' the answer to Europe’s energy crisis?

It’s been floated that these seaborne power plants from Turkey could help Europe fill the Russian energy supply gap.

19/10/2022

At the Esso-ExxonMobil refinery in Fos-sur-Mer, "no one has received a requisition", said Gil Villard, secretary of the hard-left CGT union for the site, in the early hours.

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Government forces striking employees back to work at Normandy refinery

Fuel shortages in France are set to continue after the CGT labour union vowed to continue industrial action and challenge the government's requisition in court.

12/10/2022