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Since the public spat over long-term forecasts between the leading voice of the world’s oil producers – OPEC – and consumers – the International Energy Agency (IEA) – broke out last fall, it remains apparent that a deep divide exists between them. Their contrasting reports were published last October in the weeks leading up to COP28.  In a recent interview with Oilprice.com, HE Haitham Al Ghais, OPEC Secretary General, reaffirmed his organization’s position on long-term oil demand while elaborating…
Climate Action 100+, a lobby group comprising many of the world’s biggest asset managers, has criticized Big Oil majors for falling short of a set of criteria devised to assess a company’s preparedness for a net-zero world. The finding, as detailed in a recent Reuters report, is hardly a surprise since it has been a while since anyone involved in the transition push had a good word to say about the oil industry. However, the timing of this latest attack on the oil industry is notable. Climate Action 100+ is slamming oil and gas…
Two weeks ago, we reported how Artificial Intelligence (AI), cryptocurrency mining and clean energy manufacturing are powering the Fourth Industrial Revolution, or simply 4R, and driving disruptive trends including the rise of data and connectivity, analytics, human-machine interaction, and improvements in robotics. Unfortunately, these secular megatrends are pushing the U.S. power grid to its limits. According to Sreedhar Sistu, vice president of artificial intelligence at Schneider Electric (OTCPK:SBGSF), excluding China,…
India has applied to the International Seabed Authority (ISA) for two new licenses to explore parts of the Indian Ocean sea bed for minerals crucial to the green energy transition. If they are granted, India would hold four contracts, making it the country with the second highest number of active contracts for deep sea mining exploration projects in the world. As Statista's Anna Fleck shows in the following chart, based on ISA data, China currently has five contracts, making it the leading country in terms of contracts for permitted deep sea mining…
Two environmentalist groups have challenged in court French oil major TotalEnergies’ plans to drill five wells offshore South Africa. The groups seek to stop the drilling, claiming that the environmental impact assessment was not done according to requirements. This is not the first time activists are challenging oil exploration in South Africa. It won’t be the last. But the French supermajor does not seem too bothered by it. Neither does it seem too bothered, for now, about other challenges it may encounter should the results…

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