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...Wood Mackenzie added that many companies in the oil and gas industry had low levels of borrowing and would be relatively unaffected by higher rates....
...LNG plants are big consumers of shale gas produced in areas such as western Pennsylvania — and drillers were banking on a wave of new planned projects to buy more fuel in future....
...“Accepting funding from fossil fuel companies validates the industry at a time when it is threatening the future viability of life on earth, including by developing new oil and gas infrastructure,” said...
...The uptick in wealthy citizens has been driven in part by a booming industry for semiconductors, a sector dominated by Taiwan....
...Fossil fuel projects received $33.5bn a year on average compared with $4.7bn for clean energy development, it found....
...It also marks a contrast with pledges by Big Tech to slash greenhouse gas emissions and fuel the AI revolution with green energy, rather than fossil fuels....
...EU officials have been urging European companies to avoid buying Russian LNG now that gas storage levels are at record levels and prices have come down from the post-invasion peak....
...How it works The companies plan to make synthetic natural gas by combining captured carbon dioxide with green hydrogen to produce a so-called carbon-neutral fuel that can be distributed to consumers through...
...Yet, since before COP28’s agreement to move away from fossil fuels, oil and gas companies have been telling a different story, full of sound and fury, of the demise of the clean energy transition....
...In that case, new supplies will be redundant, and as organisations like Carbon Tracker have pointed out, fossil fuel companies that overinvested in new supplies will face financial losses and eventual bankruptcy...
...While the International Energy Agency expects global demand for fossil fuels to peak this decade, many analysts expect gas to have greater longevity than oil given its reputation as a lower-carbon fuel that...
...Charif Souki, a pioneer of the US liquefied natural gas industry, has been ordered to repay $100mn to his lenders months after he was ousted from his latest venture....
...This figure accounted for 80 per cent of its financing for “pure play” oil and gas-focused companies....
...Shell on Thursday introduced a new ambition to cut the absolute emissions from the oil products it sells by 15-20 per cent from 2021 levels by 2030, but it intentionally excluded gas as a “critical fuel...
...Lower gas prices have implications for the energy transition, potentially keeping consumers hooked on the fuel for longer....
...Brussels is also due to propose an extension of targets for cutting gas demand as a way to keep reducing the bloc’s reliance on fuel imports before a meeting of the bloc’s energy ministers on March 4, according...
...plants “all represent downward risks to the current outlook, which could fuel price volatility through 2024”....
...Opponents, though, point out that making gas a central part of the transition locks in decades more of carbon-emitting fossil fuel use....
...The head of the UN’s climate change arm has urged citizens to “raise their voices” over global warming as more than half of the world goes to the polls in the months ahead....
...By pricing just below the competitive fuel, Europeans had the confidence to invest in gas infrastructure; and natural gas was able to penetrate deeply, taking over most residential heating and much of industry...
...As the energy transition gathers speed, economies reliant on oil and gas risk losing trillions of dollars in revenue thanks to the hit on fossil fuel demand....
...Although natural gas is cleaner than other fossil fuel alternatives, it still releases substantial amounts of carbon dioxide when burnt....
...The OGCI report focuses on the group’s engagement with national oil companies and joint venture partners with extensive fossil fuel infrastructure and the use of satellite monitoring through its partnership...
...“Just like Europe got over-reliant on Russian gas, the free world nuclear companies got over-reliant on Russian fuel, which was being dumped at low prices in our free world countries,” says Chris Levesque...
...The most common method yields “grey hydrogen”, made from natural gas but without emissions capture....
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