Markets

bp boss Murray Auchincloss has defended the company's decision to increase fossil fuel production and revise its renewable energy targets, citing positive feedback from investors.

bp (formerly BP) is undergoing a substantial strategic overhaul, pivoting away from its prior emphasis on rapid renewable energy expansion and refocusing on its core oil and gas operations.

Canada’s federal government has introduced an emissions cap targeting its oil and gas sector, which is responsible for a significant portion of the country's greenhouse gas emissions.

Baker Hughes and Repsol have entered a partnership aimed at advancing artificial intelligence (AI) capabilities through the Leucipa™ automated field production solution.

Electrifying upstream oil and gas production facilities offers a potential reduction in emissions by over 80%, providing a crucial pathway for decarbonization in the sector.

Italian energy major Eni S.p.A. has undertaken a significant restructuring of its organizational framework aimed at enhancing the integration of its energy businesses while advancing its decarbonization initiatives.

In recent years, regional banks in North America have notably increased their lending to the fossil fuel sector, diverging from the trend among European banks, which have either reduced their financing or committed to lowering their exposure to oil, natural gas, and coal.

At the APPEC 2024 conference, Asian upstream players expressed a strategic focus on acquiring oil and gas-producing assets due to the evolving dynamics of the global energy transition.

The transition from fossil fuels to renewable energy, while advancing, has not yet significantly diminished the critical role of crude oil in the global energy mix.

The UK government is set to introduce new environmental guidance for oil and gas companies operating in the North Sea.