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Rystad Energy’s latest research shows the global amount of discovered, recoverable oil resources has increased by 5 billion barrels (bbls) over the past year, even though 30 billion bbls were produced globally in 2024. This net increase was driven primarily by the delineation of upside potential in Argentina’s Vaca Muerta play and the Permian basin in Texas and New Mexico.  Chart from Rystad Energy Global recoverable oil resources, including estimates for undiscovered fields, stabilized at approximately 1.5 trillion bbls. The most significant revision over the last 10 years has been in yet-to-find resources, where our projection has been…

Road closures, evacuations, travel chaos and stern warnings from officials have become fixtures of Canada’s wildfire season. But as the country goes through its second-worst burn on record, the blazes come with a twist: few are coming from the western provinces, the traditional centre of destruction.Instead, the worst of the fires have been concentrated in the prairie provinces and the Atlantic region, with bone-dry conditions upending how Canada responds to a threat that is only likely to grow as the climate warms.Experts say the shift serves as a stark reminder that the risk of disaster is present across the thickly…

ISLAMABAD (AP) — Cloudbursts are causing chaos in mountainous parts of India and Pakistan, with tremendous amounts of rain falling in a short period of time over a concentrated area. The intense, sudden deluges have proved fatal in both countries. As many as 300 people died in one northwestern Pakistani district, Buner, after a cloudburst. The strength and volume of rain triggered flash flooding, landslides and mudflows. Boulders from steep slopes came crashing down with the water to flatten homes and reduce villages to rubble. The northern Indian state of Uttarakhand had a cloudburst earlier this month. Local TV showed…

Elon Musk has made his feelings about the state of Delaware clear.”Companies should get the hell out of Delaware,” Musk wrote last August on X.Although Delaware’s Secretary of State told Business Insider its role as the “corporate capital of the world” is not under threat, states like Wyoming, Texas, and Florida — and especially Nevada — have emerged as popular alternatives.Musk’s unhappiness with Delaware began in 2024 after a judge for the state’s Court of Chancery denied his multi-billion-dollar pay package. In response, Musk attacked the court on X and advised others to avoid incorporating in Delaware. The billionaire has…

From billion-dollar climate finance deals to wildfire emergencies, this week’s ‘Week in Review’ shows just how high the stakes are for sustainability. Qatar stepped into the green bond market for the first time, Nuveen raised $1.3B for sustainable infrastructure, and J.P. Morgan backed a $210M U.S. afforestation push. Meanwhile, Europe battled raging wildfires, Occidental advanced its first large-scale DAC hub, and the ICVCM approved new methods to scale high-integrity carbon credits. And while plastic treaty talks stalled in Geneva, momentum across finance, carbon, and energy signals that ESG is evolving faster than ever. GOVERNMENT, POLICY & REGULATION CARBON WATCH CLIMATE…

Rystad Energy’s latest research shows the global amount of discovered, recoverable oil resources has increased by 5 billion barrels (bbls) over the past year, even though 30 billion bbls were produced globally in 2024. This net increase was driven primarily by the delineation of upside potential in Argentina’s Vaca Muerta play and the Permian basin in Texas and New Mexico.  Chart from Rystad Energy Global recoverable oil resources, including estimates for undiscovered fields, stabilized at approximately 1.5 trillion bbls. The most significant revision over the last 10 years has been in yet-to-find resources, where our projection has been…

Alternative carbon carriers are chemical compounds specifically engineered to store larger quantities of carbon molecules in subsurface formations. When these compounds are synthesized from carbon dioxide, it can help optimise the transportation, utilisation, and storage of this greenhouse gas.   A simplified figure from the study demonstrating the process of enhanced oil recovery with slugs of a formate solution and carbon dioxide. The formate solution is an alternative carbon carrier proposed by researchers at The University of Texas at Austin. In modeling studies, this solution is better at producing oil and storing carbon than conventional…

John Krafcik, the man who led Waymo’s path from a research project to a commercial autonomous ride-hailing business, is skeptical about Tesla’s Robotaxi.Business Insider sought the former Waymo CEO’s thoughts on Tesla’s Robotaxi Bay Area launch. Krafcik led Waymo from 2015 to 2021. He now sits on the board for Rivian, a Tesla rival in the electric vehicle space.”If they were striving to re-create today’s Bay Area Uber experience,” he told Business Insider over email, “looks like they’ve absolutely nailed it.”Tesla rolled out a ride-hailing service in the San Francisco Bay Area in July, about a month after it began…

Superior Plus Corp. has reported a net loss of $14.7 million for the second quarter, compared to a net loss of $45.3 million for the corresponding quarter a year ago. President and Chief Executive Officer Allan MacDonald said the second-quarter performance was impacted by wholesale supply disruption due to a temporary plant shutdown in California, seasonally lower volumes for Superior’s propane business, and deferral of some of second-quarter deliveries, as part of its transformation initiatives. However, for the first half of the year, Superior reported net earnings of $131.7 million, up from $39.9 million for H1 2024. Superior attributed the…

When US President Donald Trump meets Russian President Vladimir Putin on Friday, one of his bargaining chips to encourage Putin to make progress toward a ceasefire in Ukraine will be to ease US sanctions on Russia’s energy industry and exports.Trump has also threatened tougher sanctions if there is no progress.Here is how sanctions have impacted Russian energy exports since the start of the conflict.Natural gas and LNG Russia was the top supplier of natural gas to Europe before the war. Most gas travelled through four pipeline routes: Nord Stream running under the Baltic Sea, the Yamal line crossing Poland, transit…