Markets

Petrobras Chief Executive, Jean-Paul Prates, expressed the company's preparedness for the challenges of the energy transition and the global oil crisis during a meeting with investors in New York.

Pathways Alliance, a collaboration among Canada's six largest oil sands companies (including Canadian Natural Resources, Cenovus, ConocoPhillips, Imperial Oil, MEG Energy, and Suncor Energy), is making substantial strides towards a transformative emissions reduction goal.

One of the world's major energy players, UK-based Shell has initiated a significant round of layoffs as part of its efforts to enhance efficiency and value creation.

Newly approved North Sea oil projects, including the Rosebank field, are facing scrutiny as a study by the Energy and Climate Intelligence Unit suggests their contribution to the UK's petrol needs will be minimal, estimated at less than 1% within seven years.

Exxon Mobil Corp, the largest U.S. oil producer, is set to face a significant downturn in its fourth-quarter earnings, projecting a 30% decline to approximately $8.9B.

US energy major has implemented substantial reductions in oil-refinery investments in California, citing the state's

The oil cartel, in a recent letter to its members and allies, has vehemently opposed any potential agreement at COP28 that advocates for the phaseout of fossil fuels.

On the eve of the COP28 UN climate change summit in Dubai, Iraq, OPEC's second-largest oil producer, declared its stance against any phasedown or phaseout of fossil fuels.

As COP28 concluded in Dubai on Dec. 12, the participating nations struggled to agree on a draft document that aimed at a global commitment to phase out hydrocarbons.

The Biden administration's recent finalization of comprehensive methane regulations in the United States is set to significantly impact the oil and gas sector across the country.