Mexico’s progress on its clean energy transition is headed in reverse. The nation’s greenhouse gas emissions from the energy sector increased by 11% last year to reach a five-year high of more than 175 million metric tons of carbon dioxide (CO2). This climate backtracking stems from a number of causes from failing hydropower plants to years of a tumultuous and petro-aggressive presidential term under controversial President Andrés Manuel López Obrador. In 2023 Mexico’s hydropower production dropped... Читать дальше...
Engineers at the University of Cincinnati created a more efficient way of converting carbon dioxide into valuable products while simultaneously addressing climate change. The study paper has been published in the journal Nature Chemical Engineering. In his chemical engineering lab in UC’s College of Engineering and Applied Science, Associate Professor Jingjie Wu and his team found that a modified copper catalyst improves the electrochemical conversion of carbon dioxide into ethylene, the key ingredient... Читать дальше...
ExxonMobil is considering a sale of its Vaca Muerta shale assets in Patagonia and has received several offers of holding already, anonymous Bloomberg sources revealed on Friday. The U.S. oil giant’s assets that will be sold include assets owned as part of a joint venture with QatarEnergy, including seven oil and gas blocks in the Vaca Muerta and holdings in a pipeline. The assets are estimated to be valued at $1 billion, the sources suggested. Argentina’s Vaca Muerta shale formation has been behind... Читать дальше...
Australia has big plans for its oil and gas industry, despite calls from environmentalists to reduce its fossil fuel output. The country’s biggest company, Woodside, is planning to expand its exploration activities in response to the growing energy demand from the Asian market, despite having made ambitious climate pledges in recent years. Santos also plans to go ahead with a major gas pipeline, following the dismissal of a lawsuit from Tiwi Islanders in opposition to the project. And, following a year of several major U.S. megamergers... Читать дальше...
For years, Canadian oil producers have been struggling with insufficient pipeline capacity to take their products to buyers. Anti-pipeline policies have been a big reason for that, along with environmental opposition. Now, the same government that has been following the above policies is close to completing the biggest pipeline project in years: the Trans Mountain pipeline expansion. But it seems it may be too little, too late for the industry, with warnings already flashing about a coming capacity shortage. Читать дальше...
The oil industry has historically been politically conservative. In turn, Democratic politicians have often been hostile toward the industry. Nevertheless, oil companies have recorded some of their largest profits during Democratic administrations. For example, neither President Obama nor President Biden was cozy with the oil industry, but the industry profited enormously under both presidents. The primary driver of oil company profits is simply the price of oil. If a president takes actions that drive oil prices higher... Читать дальше...
