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Business

BP scraps renewables target, returns to oil and gas in strategy reset

The move comes in response to pressure from investors, notably from activist hedge fund Elliot management.

Business

BP expected to scrap renewables targets as part of performance reset

Renewable output is set to become less of a priority, while the pledge to reduce oil and gas output may be officially abandoned.

Green News

Brazil’s Lula backs new oil exploration ahead of UN climate summit

The President said Brazil can’t ignore the wealth beneath its feet and choose not to explore it.

Europe News

Nordics and Baltics ask EU to tighten price cap on Russian oil

Denmark, Estonia, Finland, Latvia, Lithuania and Sweden have demanded a revision of the price cap on Russian seaborne oil. The cap was set in late 2022 at $60 per barrel and has remained untouched since then.

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Europe News

US imposes sanctions on Serbia's Russian-owned petrol industry

Serbia's Vučić plans talks with Putin after US sanctions on NIS, demanding Gazprom's exit. The sanctions could impact Serbia's economy and its deal with Moscow.

Green News

US offshore drilling ban: Can this 'epic ocean victory' survive Trump?

Days before leaving office, Biden has made a move that environmental groups are “thrilled and thankful’’ for.

Green News

Russia deals with aftermath of massive fuel oil spill

Thousands are attempting to help lessen the damage, but some volunteers say the government is not doing enough to help.

Europe News

Vučić: US to sanction Serbia's oil company due to Russian ownership

Gazprom and its subsidiary Gazprom Neft own 6.15% and 50% of NIS respectively, with the remainder of the shares belonging to the government and other smaller shareholders.

Europe News

Oil flow to Czech Republic from Russia through Druzhba interrupted

The development comes the day before an EU exemption, which has allowed the Czech Republic to continue receiving Russian oil, is due to expire.

World News

European Parliament calls for action against Russia's 'phantom fleet'

MEPs urge action against Russia’s 'phantom fleet,' calling for stricter checks, penalties, and a total ban on Russian fossil fuel imports to curb sanction evasion and safety risks.

Green News

How this concerned father shifted his company away from oil and gas

Jordi Zonneveld didn't want his three daughters to live in a world reliant on burning oil, gas and coal, warming the planet.

Europe News

EU still hesitant to sanction Russian gas as imports continue

The annual State of the EU Energy Union report shows Europe still relies on Russia for nearly a fifth of its gas imports, while the EU executive is concerned at the slow pace of the transition away from fossil fuels.

Markets

Oil prices rise as Middle East tensions weigh on investor sentiment

Crude oil prices surged to a one-week high amid escalating tensions in the Middle East and a weakening US dollar on Monday.

Culture news

Just Stop Oil targets Taylor Swift’s jet – and fails to locate it

Climate activists paint two planes at random after failing to locate Taylor Swift's plane, as the singer lands ahead of her Wembley show.

Green News

Member states green light new rules to slash methane emissions

The potent greenhouse gas will be regulated for the first time in the EU with implications overseas.

Green News

Shell faces shareholder ‘rebellion’ over climate strategy

The meeting was punctuated by protests from groups calling out Shell’s climate record and alleged actions in the Niger Delta.

Green News

Banks are propping up fossil fuels to the tune of €6.5 trillion

Barclays, Santander and Deutsche Bank were among Europe’s biggest fossil fuel financers in 2023.

Markets

Oil prices rise: What's pushing up the cost of crude?

Geopolitical uncertainties and supply fears boosted oil prices to fresh five-month highs on Tuesday morning.

Eco-Innovation

Meet the solar entrepreneurs changing women’s lives in Nigeria

The African country has the lowest access to electricity in the world. Women and girls are bearing the brunt of energy poverty.

Eco-Innovation

These window-mounted heat pumps can be fitted in 15 minutes

Heat pump tech has been downsized into something that looks a bit like a window air conditioner.