Donald Trump Calls UK’s Shift Away from North Sea Oil a ‘Significant Error’
Donald Trump says UK’s move away from North Sea oil is a ‘big mistake’ The US president-elect said in a social media post that Britain is “making a very big mistake” on its energy policy. On his platform Truth Social, Trump posted a link to an article about Labour’s decision to increase taxes for North Sea […]
Global Energy Costs Expected to Decrease with Shift Away from Oil and Gas, According to IEA
World Set for Cheaper Energy on Shift From Oil and Gas, IEA Says (Bloomberg) — The world is heading into an era of cheaper energy prices as a shift towards electricity use leaves behind surpluses of oil and gas, the International Energy Agency predicted. Most Read from Bloomberg Global demand for all fossil fuels will […]
Backing Petroleum: bp’s Shift in Strategy Poses Risks for Climate and Investors
Backing Petroleum: bp’s transition U-turn is bad for the climate and investors This week, reports[i] have emerged of bp’s CEO Murray Auchincloss latest U-turn regarding bp’s transition strategy: the company has scrapped its previous relatively ambitious target of reducing oil and gas production by 25% by 2030 (vs 2019). Bp had made some headway towards […]
BP Lowers Oil Production Goals in Strategic Shift, Sources Reveal
bp drops oil output target in strategy reset, sources say BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm’s energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP’s strategy was the sector’s […]