US oil and gas mergers surged last quarter with the most $1 billion plus combinations since 2014, as rising energy and share prices led to larger oilpatch deals

Oil prices are likely to be extremely volatile in the next few years, driven by supply constraints rather than demand as financing for new production evaporates in favour of renewables, U.S.-based Castleton Commodities International said

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

“The pathway to net zero is narrow but still achievable. If we want to reach net zero by 2050 we do not need any more investments in new oil, gas and coal projects,” Fatih Birol, the IEA’s executive director

Exxon Mobil Corp is lowering its ambitions for oil and gas output, as it focuses on cutting costs and preserving dividends to win back investors that have soured on the company after years of overspending

Spanish wind energy group Iberdrola plans to invest 75 billion euros ($88 billion) in its renewable energy production, grids and retail operations by 2025 to capitalise on growing global demand for clean power

Israeli pipeline company EAPC said it had signed a preliminary deal to help transport oil from the United Arab Emirates to Europe via a pipeline that connects the Red Sea city of Eilat and the Mediterranean port of Ashkelon

The figure represents a decrease of 20% compared to the previous year, due to the inconveniences that the state oil company and the sector faced during the past year