Governments worldwide plan to produce 120% more fossil fuels by 2030 than the level consistent with limiting global warming to 1.5 degrees Celsius, as outlined in the Paris Agreement

The president of COP28, Sultan Al Jaber, stated that the China National Petroleum Corp (CNPC) will soon join the commitment of oil and gas companies to reduce methane emissions to zero by 2030 and achieve net-zero emissions before 2050

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

Climate-changing CO2 emissions are set to surge by the second-biggest amount in history this year as the global economy recovers from the Covid-19 pandemic, the IEA warned

Global oil prices could drop to around $40 a barrel by 2030 if governments push to reduce fuel consumption in step with U.N.-backed plans to limit global warming, a leading energy consultancy said

The COVID-19 pandemic and a faster transition to renewable energy sources will have a permanent impact on global oil demand, Norway’s biggest independent energy consultancy Rystad predicted

Royal Dutch Shell raised its dividend after easily beating quarterly profit forecasts and outlined plans to shrink its oil and gas operations as it presses forward with a transition to low-carbon energy

The European Union is considering binding standards for natural gas to limit emissions of methane, the second-largest contributor to global warming after carbon dioxide

Spanish oil and gas firm Repsol posted a quarterly net loss and wrote down $1.5 billion in assets as it revised down unusually high expectations for oil and gas prices over the next 30 years