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Sea level rise will become unmanageable at just 1.5C of global heating and lead to “catastrophic inland migration”, the scientists behind a new study have warned. This scenario may unfold even if the average level of heating over the last decade of 1.2C continues into the future.The loss of ice from the giant Greenland and Antarctic ice sheets has quadrupled since the 1990s due to the climate crisis and is now the principal driver of sea level rise.The international target to keep global temperature rise below 1.5C is already almost out of reach. But the new analysis found that even…

The UK and European Union entered a new era of climate cooperation by pledging to link their carbon markets to avoid trade levies and reset post-Brexit relations. The move comes as part of Monday’s UK-EU summit, which aims to improve relations five years after Britain left the bloc, according to a deal laying out a “common understanding” between London and Brussels. Tying the two carbon markets together would avert border levies on imports of products like steel and cement from places with less strict CO2 policies. It’s also expected to boost liquidity in the market for carbon permits. “This would be a…

Russia detained the Liberian-flagged oil tanker Green Admire, which left the port of Sillamae and was sailing through Russian territorial waters, Estonian Public Broadcasting said Sunday, citing the Estonian Department of Transport. The vessel is owned by Aegean Shipping of Greece and carrying shale oil on board. It was following a previously agreed route and its final destination was Rotterdam, according to the report. The incident happened three days after Russia sent a plane in connection with Estonia‘s attempt to stop a Russian shadow oil tanker. Ships leaving the port of Sillamae typically pass through Russian waters as the route is safer for large…

The UK’s high electricity prices have become intensely political, with competing claims over the cause of rocketing bills and how best to get them down. Prices spiked after Russia cut off gas exports to Europe, precipitating a global energy crisis alongside its invasion of Ukraine in 2022. The UK has been particularly exposed, as gas sets its wholesale power prices 98% of the time – and gas remains three times more expensive than before the crisis. Nevertheless, some have sought instead to misleadingly blame the UK’s high power electricity on “green levies” that support the expansion of clean power, as…

The Trump administration has given the go-ahead to an offshore wind power project in New York that it suspended a month ago. Empire Wind, ran by Norway’s state oil major Equinor, can now resume construction work.The reversal of course followed political involvement from the Norwegian government and the participation of New York Governor Kathy Hochul, Reuters reported, citing the chief executive of the Norwegian oil and gas major.“I would like to thank President Trump for finding a solution that saves thousands of American jobs and provides for continued investments in energy infrastructure in the U.S.,” Anders Opedal said.The Department of…

U.S. oil and gas exploration and production company EOG Resources Inc. has secured a new exploration concession in Abu Dhabi. The company said in a media release that it has been awarded Unconventional Onshore Block 3 (UCO3) by Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA). The UCO3 concession area is 3,609 square kilometers, or nearly 900,000 acres, in an over-pressured, oil-prone basin in the Al Dhafra region of Abu Dhabi, EOG said. EOG holds 100 percent equity and operatorship. In coordination with Abu Dhabi National Oil Co. (ADNOC), EOG will explore and appraise unconventional oil in the…

Energy independent Continental Resources has accused sector player Hess Corp of fraud to the tune of $69 million in a lawsuit alleging the latter artificially inflated the price of its midstream services through deals with its own subsidiaries.Per a Reuters report citing the lawsuit, the alleged fraud concerned oil wells in North Dakota, in which Continental Resources holds non-operating interests. The net revenues that the company received from those wells was much lower than their market value because of those inflated midstream prices that Hess allegedly charged for its services.“Hess Corp has transferred value from its upstream assets to its…

A startup that’s helping companies track their ESG efforts has just secured a $27 million Series C.Canadian startup Novisto, launched in 2019, offers a software platform for clients to monitor and measure their sustainability impacts.”We have an accounting-like platform for broader sustainability-related data for corporates,” cofounder and CEO Charles Assaf told Business Insider. “What is unique about that platform is that it becomes the system of records that really drives not just the reporting and the disclosure exercise, but also the broader management of the sustainability functions,” he added.Novisto’s platform automates the collection and management of a company’s sustainability data…

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New Delhi: Petronet LNG Ltd reported a profit after tax (PAT) of ₹3,926 crore for the financial year ended March 31, 2025, registering an 11 per cent increase over ₹3,536 crore recorded in the previous financial year.The company also posted its highest-ever profit before tax (PBT) of ₹5,275 crore in FY 2024–25, compared to ₹4,757 crore in FY 2023–24.This is the first time Petronet LNG’s PBT crossed ₹5,000 crore in a financial year.The company achieved its highest-ever overall LNG throughput of 934 trillion British thermal units (TBTU) in FY 2024–25, as against 919 TBTU in the previous fiscal. Dahej terminal…