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Big Oil

Earth News

'Failed experiment’: Experts query the true sustainability of biofuels

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Earth News

Drilling North Sea to cut energy bills a ‘sheer fantasy’, warns report

Escalating conflict in the Middle East has emboldened calls for the UK to open up North Sea drilling licences.

Earth News

‘Cashing in on a crisis’: G7 urged to tax fossil fuel windfall profits

As Europeans brace for higher oil and gas prices, G7 nations are being urged to tax fossil fuel giants profiting from the war on Iran.

Earth News

US Supreme Court to hear Big Oil bid to dismiss climate suits

In their fight to block climate accountability cases, fossil fuel majors recently gained the ear of the highest court in the US.

Earth News

Geothermal energy could replace over 40% of EU’s fossil electricity

Enhanced geothermal systems could wean the EU off fossil fuels, even in countries without volcanic activity.

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Earth News

Top polluters controlled by nations that blocked fossil fuel phaseout

Many state-owned fossil fuel firms that emitted the highest levels of pollution in 2024 went on to block a phaseout roadmap at COP30.

Business

BP launches cost-cutting scheme despite beating profit expectations

The business review comes just a few months after BP said it would save $4bn to $5bn by the end of 2027, relative to 2023 costs.

Markets

Oil prices plunge to multi-year low as OPEC+ plans output acceleration

Crude oil prices fell to a multi-year low on Monday as OPEC+ confirmed plans to continue unwinding production cuts, accelerating output increases in June. The move is expected to exacerbate a market surplus amid weakening demand driven by escalating US-China trade tensions.

Markets

Oil prices hit 4-year low as US-China trade war sparks recession fears

Crude oil prices plunged to a fresh four-year low as the US-China trade war escalated. Other economic-growth-sensitive commodities, including iron ore and copper, also slumped in recent sessions amid deteriorating demand outlooks in the world’s largest importer.

Business

BP unveils multi-billion-dollar deal to redevelop Iraq's oil fields

The energy giant's announcement of the tie-up comes as it finalises plans to ditch renewables targets set under previous CEO.

Earth News

US states fight a New York law that makes fossil fuel companies pay

New York is being sued by 22 other US states who say its climate change damage fund may 'cause an energy crisis'.

Climate

Could a new oil well near Paris threaten France’s climate ambitions?

There are fears that an oil spill could make water around Paris undrinkable.

Business

Shell still reviewing moving listing away from London amid profit miss

Shell said it is still reviewing whether to move its listing away from London as the company's latest earnings failed to cheer investors.

Ukraine

Trump claims war in Ukraine could end if price of oil falls

Addressing the World Economic Forum, the US president pledged to apply pressure on OPEC, claiming that a drop in the price of oil would end Russia's full-scale invasion of Ukraine.

Saudi Arabia

More than €500bn to be invested in US, Saudi crown prince says

Saudia Arabia's state run news agency reported that the country's crown prince intended to invest hundreds of billions into the US economy during US President Donald Trump's term in office.

Earth News

Why a small Scottish island is divided on the North Sea’s untapped oil

What do Shetlanders feel about Rosebank, the UK's biggest untapped oil and gas field, being on their doorstep?

Europe News

Oil and gas majors demand massive public support for carbon capture

The clock is ticking on a legal deadline for the petroleum industry to deploy carbon capture and storage (CCS) infrastructure – a technology it has championed for decades – at an unprecedented scale by the end of the decade.