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Vanuatu’s climate minister has expressed disappointment over Australia’s decision to extend one of the world’s biggest liquefied natural gas projects and said it raises questions over its bid to co-host the Cop31 summit with Pacific nations.The UN is expected to announce which country will host the major climate summit in the coming weeks, with Australia pushing for the event to be held in Adelaide as part of a “Pacific Cop”.Speaking to the Guardian, Vanuatu’s minister for climate adaptation Ralph Regenvanu said Pacific leaders who have supported the co-hosting proposal now have “questions raised” following Australia’s decision to greenlight Woodside’s North…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldA campaign by rightwing lawmakers in Texas to limit renewable power projects has failed, underscoring the state’s commitment to all sources of energy as it strains to meet exploding demand.A package of bills that would have derailed renewable power projects throughout Texas died on Monday after failing to secure enough votes to advance in the state legislature.The legislation’s demise was a blow to champions of fossil fuels who hoped to capitalise on President Donald Trump’s pledge to unleash a new…
Jennifer A. Dlouhy, Bloomberg June 02, 2025 (Bloomberg) — The Trump administration is moving to repeal Biden-era curbs blocking oil drilling across most of the mammoth petroleum reserve in Alaska that’s home to an estimated 8.7 billion barrels of recoverable oil. ConocoPhillips’ Willow project is expected to produce first oil in 2029 Interior Secretary Doug Burgum announced the planned policy shift late Sunday at a town hall in Utqiagvik, a village on the Chukchi Sea coast, as he and fellow members of President Donald Trump’s cabinet visit Alaska to promote energy development…
New Delhi: The PNGRB is set to penalise city gas distribution companies for falling significantly short of their targets-achieving, in some cases, as little as 2 per cent of cumulative goals-for connecting households with piped natural gas (PNG), according to people familiar with the matter.Companies that secured licences during the 9th, 10th, 11th and 11A bidding rounds-the four largest city gas licensing rounds-have especially underperformed on their home connection commitments. These companies had won licences based on number of households they pledged to connect each year.Data published by the Petroleum and Natural Gas Regulatory Board (PNGRB) shows that, on average,…
New Delhi: The Petroleum and Natural Gas Regulatory Board (PNGRB) has said the recent regulation for liquefied natural gas (LNG) terminals will help achieve “well-coordinated, transparent, and demand-driven gas market development” in the country.Last month, PNGRB introduced regulations mandating that companies intending to set up a new LNG terminal or expand capacity must register with the regulator, which will issue a registration certificate only after reviewing their detailed feasibility report, business plan, and evacuation strategy.Several companies, including existing LNG terminal operators, had opposed PNGRB’s move when the draft regulation was being discussed last year. Multiple company executives told ET that…
(World Oil) – bp Plc appointed oil industry veteran Dave Hager to the board, bolstering its efforts to refocus on fossil fuels and keep investors on side. Hager has been in the sector for more than 40 years, recently leading U.S. shale producer Devon Energy Corp. as chief executive and then executive chairman. He’ll bring oil and gas expertise to a board that currently features little of it. His appointment follows a pledge by CEO Murray Auchincloss to pivot back to bp’s core business following years of underperformance, which stemmed in large part from the net zero strategy championed by his predecessor.…
(Bloomberg) – Oil climbed after OPEC+ increased production less than some had feared and geopolitical concerns flared in Ukraine and Iran. West Texas Intermediate gained 2.8% to settle near $63 a barrel after the Organization of the Petroleum Exporting Countries and its allies agreed on Saturday to add 411,000 bpd of supply in July though some members objected, including Russia. With a handful of countries lobbying for a pause in July, banks are now split on how many more hikes will come in subsequent months. Monday’s gain — U.S. crude initially added as much as 5.1% before easing…
OpenAI CEO Sam Altman is betting that AI could soon help “discover new knowledge” and said it is already beginning to act like your junior-level coworkers.”You hear people that talk about their job now is to assign work to a bunch of agents, look at the quality, figure out how it fits together, give feedback, and it sounds a lot like how they work with a team of still relatively junior employees,” Altman said of AI agents on Monday during the Snowflake Summit 2025, in a conversation with Snowflake Computing CEO Sridhar Ramaswamy.”I would bet next year that in some…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Mark Carney has vowed to work with Canada’s oil industry to boost production and reduce emissions, as the new prime minister touts an economic agenda to face down Donald Trump’s tariff threats.The Canadian leader met senior oil executives in recent days, extending an olive branch to a sector that become hostile to the Liberal government in Ottawa under Carney’s predecessor Justin Trudeau.Carney offered tentative backing for new pipelines and a multibillion-dollar project to capture carbon from Alberta’s oil sands, describing a “grand…
(Oil Price) – During a meeting with oil and gas executives in Canada’s oil-producing province of Alberta, Canadian Prime Minister Mark Carney pledged that the federal government would work to fast-track major projects to make Canada an energy superpower. “We met with leaders in clean and conventional energy today in Calgary. We all agree: it’s time to build,” Carney posted on X after the meeting. “Canada’s new government is ready to fast-track major projects across the country that will make Canada an energy superpower,” said the PM. Carney also met with Alberta’s Premier Danielle Smith, who has been calling for years on the…