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...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...
...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....
...Fossil fuel projects received $33.5bn a year on average compared with $4.7bn for clean energy development, it found....
...Last year, the United Arab Emirates, one of the world’s largest oil and gas producers, faced fierce criticism ahead of COP28 in Dubai, in particular over the decision to select the Abu Dhabi National Oil...
...The president of Azerbaijan, host country for the UN COP29 climate summit this year, has defended the country’s fossil fuel sector, arguing its “oil and gas would be needed for years to come” because of...
...But Equinor is still first and foremost an oil and gas company....
...At Total, he has maintained a strategy of pursuing profitable oil projects while shifting more into gas as the company’s core fossil fuel....
...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....
...plants “all represent downward risks to the current outlook, which could fuel price volatility through 2024”....
...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....
...Since the Latin American country decided, in the 1970s, to reduce its dependence on imported oil and gas, ethanol has played a crucial role in Brazil’s energy mix....
...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...
...What is striking is that shares in US-listed gas-focused exploration and production companies have performed surprisingly well year to date....
...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...
...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...
...The US accounts for about 20 per cent of global demand, driven by the country’s reliance on big, gas-guzzling vehicles....
...This figure accounted for 80 per cent of its financing for “pure play” oil and gas-focused companies....
...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....
...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...
...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...
...The White House’s decision to pause approvals for new liquefied natural gas projects has angered the shale gas industry, a big employer in Pennsylvania....
...Lower gas prices have implications for the energy transition, potentially keeping consumers hooked on the fuel for longer....
...Opponents, though, point out that making gas a central part of the transition locks in decades more of carbon-emitting fossil fuel use....
...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....
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