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SHELL IS HEADING OUT OF SOUTH AFRICA AFTER 122 YEARS.
Shell International is preparing to exit its longstanding presence in South Africa, where it has operated since 1902, by divesting its shares in its retail, transportation, and refining unit. The majority stake of 72% in this unit is held by the energy company, while the remaining 28% is owned by local investment firm Thebe.
- 2 years
RUSSIA’S OIL REVENUES DOUBLED IN APRIL COMPARED TO A YEAR EARLIER.
In April 2024, Russia's oil revenues doubled compared to the same month a year earlier, reaching $11.5 billion. This increase was driven by higher oil prices and a weaker ruble.
- 2 years
U.S. GAS STOVES CONTRIBUTE TO 19,000 DEATHS A YEAR.
Scientists are exploring methods to reduce pollution from gas stoves at home, a new frontier after decades of cleanup in automotive, factory, and power plant sectors. Cooking with gas releases nitrogen dioxide, linked to asthma and respiratory diseases.
- 2 years
G7 NATIONS COMMIT TO COAL PHASEOUT BY 2035, BUT CHALLENGES REMAIN.
The United States, the UK, Italy, France, Japan, Germany, and Canada have reached an agreement this week to phase out coal for power generation by 2035. This move has received mixed reactions, with some praising the decision while others, like Greenpeace, deem it insufficient.
- 2 years
UAE QUIETLY BOOSTS OIL PRODUCTION CAPACITY AHEAD OF OPEC MEETING.
ADNOC has quietly increased its oil production capacity to 4.85 million barrels per day (bpd), up from the previously reported 4.65 million bpd. The United Arab Emirates state-owned oil company aims to further raise this capacity to 5 million bpd by 2027, a target set years ago.
- 2 years
DEVELOPING NATIONS LOOK TO BALANCE OIL AND GAS OPPORTUNITY WITH CLIMATE CONCERNS.
The International Energy Agency (IEA) recommends keeping new oil discoveries in the ground to achieve global climate goals. African and Caribbean nations are under pressure to choose between economic growth and climate action.
- 2 years
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