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The days when big miners like BHP Billiton (NYSE:BHP), Rio Tinto (OTCPK:RTPPF) and Glencore Plc (OTCPK:GLCNF) could make heavy investments in the oil and gas business and only appease green-tinged investors by making half-hearted divestments are numbered.  With ESG investing rapidly gaining momentum and climate change goals looming, mining companies are being forced to align capital spending with their emissions reduction pledges, with activist and institutional investors sometimes demanding sale of entire fossil fuel portfolios. Three years…
The Covid-19 pandemic has marked the end of an era for Southeast Asia’s combined oil and gas production, pushing the region’s output in 2021 to below 5 million barrels of oil equivalent per day (boepd) for the first time since 1998, a threshold that is not likely to be exceeded again in the future despite new project start-ups in coming years, a Rystad Energy analysis shows.   Daily average hydrocarbon production tumbled to 4.86 million boepd in 2021, down from 5.06 million boepd in 2020, and a massive 12% drop compared to the…
With Brazilian oil demand set to continue, Petrobras is making big plans for oil and gas as well as testing the water with greener fuels, although it is not yet investing in other renewables such as solar or wind power. As several countries move away from fossil fuel production towards renewable alternatives, many will have to import oil and gas to bridge the gap during the transition period. Meanwhile, the Energy Information Administration predicts that Brazil’s consumption of crude will rise 34 percent over the next three decades. Petrobras…
Tidal power is expected to grow exponentially over the next decade as several countries boost investments in the renewable energy source. As Scotland secures funding for a huge new project, Canada expects to start operations in 2022. While financing is an issue, due to high set-up and operational costs, other countries could also start to establish tidal projects if early developments are seen to be a success.  Scottish firm Nova Innovation has secured a $2.83 million investment from the European Innovation Council Accelerator Fund for its…
At least 30 tankers with liquefied natural gas from the United States are headed to Europe, where the gas and energy crisis has pushed regional LNG prices way above the Asian LNG benchmark and 14 times higher than the U.S. Henry Hub price, according to shipping data compiled by Bloomberg. Ten LNG tankers from the U.S. have already declared Europe as their destination while another 20 cargoes appear to be crossing the Atlantic en route to Europe, the shipping data showed. At least another ten LNG cargoes have been diverted from Asia to Europe as…

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