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Business

BP pledge to cuts costs as profits fall below expectations

Energy giant BP is to launch a major cost-cutting programme after Q1 profits were hit by falling gas prices and a refinery outage and earnings fell short of analyst forecasts.

Earth News

Big Oil is in hot water over climate change ‘deception’

A new report released by US Democrats has shown that many big oil companies have willingly misled the public about their opinions on the dangers of climate change.

Climate

Euroviews. Keep the Big Oil lobby out of policymaking — like we did with tobacco

It is impossible to ignore the evidence of the harm caused by big oil and gas companies. Turning to them to decrease dependency on fossil fuels is like asking the tobacco industry for advice on how to stop smoking, Anna Gilmore writes.

Earth News

NGOs demand stringent criteria for ‘low-carbon’ hydrogen

The European Commission has been urged to consult broadly and take a methodical approach to defining new 'low-carbon-fuels, amid concerns that hastily drafted legislation could promote the unsustainable use of fossil gas.

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Economy

Oil and gas giants see profits fall back after bumper 2022

The only company on the list with better full-year results than in 2022 was French Total Energies, which in February reported the highest net profit of its history for 2023.

Markets

TotalEnergies shares slide as company reports fall in earnings

Shares in France's TotalEnergies declined on Wednesday morning after the company reported a 31% drop in fourth-quarter (Q4) earnings.

Business

BP sees profits for 2023 plunge, but still second highest in decade

BP has been trying to transition into renewable and more sustainable energy for some time but has suffered a series of setbacks.

Europe News

Euroviews. Norway's latest plan for Arctic deep sea mining will inevitably sink

Norway’s decision to open up the Arctic to mining may just be the spark that torches the industry’s entire future, Louisa Casson writes.

Business

Shell to sell huge part of Nigeria oil business in $2.4 billion deal

The London-based energy giant has faced decades-long local criticism for the environmental impact of its oil exploration in Nigeria.

Markets

Euroviews. Oil price forecast for 2024: What’s in store for global crude?

Despite the headwinds in 2024, consumers might be able to breathe a sigh of relief as oil prices are expected to remain range-bound or trend downwards as compared to 2023, Osama Rizvi writes.

Earth News

Euroviews. COP28: A historic outcome, but for whom?

To make the COP28 outcome truly “historic”, we need to free the talks — and our political and economic systems — from the oily grip of the fossil fuel industry, Pascoe Sabido writes.

Kuwait

Kuwait's ruling emir, Sheikh Nawaf Al Ahmad Al Sabah, dies at 86

His death comes after was rushed to a hospital for an unspecified illness in late November.

Earth News

Climate activists targeted by hacking scheme say public is real victim

The climate activists targeted by the hacking scheme say it had a "completely detrimental, chilling effect" on their work.

World News

Euroviews. If you’re saying no to war, you have to say no to oil

Fossil fuels fund war. That might be a sentiment you’ve seen or heard before, plastered onto placards or shouted by activists. But what does it really mean, Lucy Hall writes.

World News

Euroviews. We have to back COP28. It’s the most ambitious climate plan in history

If COP28 brokers a global climate deal on these proposals, it would help fast-track a just transition away from fossil fuels. If it fails, the chances of such a transition will be dangerously diminished, Prof İbrahim Özdemir writes.

World News

Euroviews. The EU can fight Big Oil's lawfare by ending the money train

By suing governments due to climate action, fossil fuel firms are biting the hand that feeds them. There’s a simple solution: stop feeding them, Isabel Schatzschneider writes.