Oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050, or 54%, Exxon Mobil Corp said, with the world failing to keep global temperature increases below 2 degrees Celsius

German goals to cut greenhouse emissions by 65% by 2030 are likely to be missed, meaning a longer-term net zero by 2045 target is also in doubt, reports by government climate advisers and the Federal Environment Agency (UBA) show

The U.S. government will provide up to $1.55 billion in funding to monitor and reduce methane emissions from the oil and gas sector

The world’s oil and gas companies should set targets to cut greenhouse gas emissions by 2030 at the upcoming COP28 global climate conference, the CEO of France’s TotalEnergies Patrick Pouyanne said

Global energy demand rose 1% last year and record renewables growth did nothing to shift the dominance of fossil fuels, which still accounted for 82% of supply, the industry’s Statistical Review of World Energy report said

Denmark and Costa Rica are trying to forge an alliance of countries willing to fix a date to phase out oil and gas production and to stop giving permits for new exploration

Exxon Mobil Corp sees its investments in Brazil’s offshore helping the company achieve a goal of lowering carbon emissions in its oil and gas production, country head Juan Lessmann said

This is the first major environmental legislation for this government as a result of a coalition between leftists and environmentalists, after a campaign on the topic of ecology

A fire on the ocean surface west of Mexico’s Yucatan peninsula has been extinguished, state oil company Pemex said, blaming a gas leak from an underwater pipeline for sparking the blaze

Igor Sechin, the head of Russian oil major Rosneft, said the world was facing an acute oil shortage in the long-term due to underinvestment amid a drive for alternative energy, while demand for oil continued to rise