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Green News

UK ‘lack of urgency’ on climate targets is worrying, report warns

A report from official government advisers has criticised slow progress and the approval of new oil and gas projects.

Green News

Why shutting down fossil fuels is unlikely to make you poorer

Shutting down fossil fuels will have negligible financial impact on ‘vast majority’, study finds.

Europe News

EU imports of Russian oil plunge by 90% as a result of sweeping bans

It's official: the European Union is no longer the top client of Russian oil.

Austria

Saudi Arabia cuts production to boost oil prices

Saudi Arabia, an OPEC heavyweight, decided on Sunday to make a further cut in production in the hope of boosting slumping oil prices, against an economic backdrop overshadowed by the war in Ukraine.

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Austria

OPEC+: Riyadh to reduce oil output, others to extend previous cuts

In order to keep crude oil prices stable on the world market, the OPEC+ countries, including heavyweight Russia, have agreed to maintain previous production cuts through 2024, while Saudi Arabia cuts output by 1 million barrels per day.

Austria

OPEC+ members meet in Vienna to discuss oil production strategy

The OPEC+ countries discuss their current production strategy in Vienna. New oil production cuts could result from the meeting as signs of discord between top crude oil producers Saudi Arabia and Russia set the tone of the talks.

Green News

Solar investment set to eclipse oil for the first time ever

Spending on clean energy technology has soared, in part due to the global energy crisis.

Green News

Breakthrough: Australia passes law capping oil and gas emissions

Australia ‘safeguards’ the future with new law capping emissions from oil and gas.

Saudi Arabia

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

Aramco is the latest energy company to announce record earnings in 2022, helped by soaring energy prices following Russia's war in Ukraine.

Green News

EU agrees to push for the global phaseout of fossil fuels

The EU has laid out its climate and energy priorities ahead of COP28 in November.

Green News

Why did governments spend €900bn on fossil fuel subsidies in 2022?

The International Energy Agency has urged world leaders to spend money on clean energy solutions rather than fossil fuel subsidies.

United Kingdom

UK energy company BP's profits double in 2022

British energy supermajor BP has reported record annual earnings, fueling demands that the UK boost taxes on companies benefiting from the surge in energy prices.

Europe News

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.

Green News

Why has a Big Oil CEO been selected to lead COP28 climate talks?

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.

Europe News

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.

Eco-Innovation

How can human hair be used to fight pollution?

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

World News

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.

Russia

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.

Green News

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."

Europe News

Russian oil cap not meant to disrupt markets - Timmermans

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