The UK will no longer fund coal projects overseas, British Prime Minister Boris Johnson announced today during his opening address at the UK-Africa Investment Summit in London. Instead, the government will "turbo-charge" its support for low-carbon energy sources, he said, noting that the UK has cut its CO2 emissions by 42% from the 1990 level. The country is the host of the next round of UN climate talks - COP26 - in November.

Australia's Santos record annual sales revenue of over $4 billion, up 10%, generated from sales volumes of 94.5 mmboe

The Abu Dhabi National Oil Company (ADNOC) signed today, a strategic framework agreement with Italy’s energy company, Eni, to explore new opportunities for collaboration in carbon capture utilization and storage (CCUS), where ADNOC is an industry leader, and additional strategic opportunities in research and development (R&D) across the oil and gas value chain.

U.S. Industrial production declined 0.3 percent in December, as a decrease of 5.6 percent for utilities outweighed increases of 0.2 percent for manufacturing and 1.3 percent for mining.

The firm has committed to a $13 billion program to refurbish six of the units which will significantly extend their operating lives. It follows that any new construction of SMRs, or anything else such as a molten salt or other type of advanced unit,, will have to get past a significant financial hurdle in terms of verified cost competitiveness for any utility to decide to proceed with it.

Schlumberger CEO Olivier Le Peuch commented, “Full-year revenue for 2019 was $32.9 billion, a level essentially flat with 2018. Overall performance was positive—particularly in the international markets—and we generated $2.7 billion in free cash flow, which was a remarkable achievement under these market conditions. Full-year pretax segment operating margin of 12%, however, was slightly down year-on-year.

Brent were up by 70 cents, or 1.11%, to $65.55, WTI was up by 56 cents, or 1%, at $59.10 a barrel, after rising to $59.73, the highest since Jan. 10.

On trade, an important agreement was announced this week, but much more work is ahead to heal the fractures between the world’s two largest economies. Beyond the US and China, the global trading system is in need of a significant upgrade.

Iraqi oil production averaged more than 4.8 million barrels per day (bpd) in 2019, of which about 1.8 million bpd stemmed from the country’s domestic and state-owned players

Recent statistics issued by the Organisation of the Petroleum Exporting Countries, OPEC, highlighted a decrease in its production by 6.3 percent or some 2 million barrels per day in 2019, compared to 2018.

Academics and concerned citizens often ask "how long" will it take for the global economy to transition to zero carbon energy systems in the transportation, electric generation and heavy industry sectors.

The waiver allows Chevron, Halliburton, Schlumberger, Baker Hughes and Weatherford International to continue certain work with PDVSA, outside of US sanctions.

Norway's preliminary production figures for December 2019 show an average daily production of 2 082 000 barrels of oil, NGL and condensate, which is an increase of 95 000 barrels per day compared to November.

a sharp rise in the Germany’s renewable generation capacity was needed over the next 15 years to meet demand from the electrification of heating, transport and other industries.

A “clean energy resource” is defined as “any technology used to generate electricity without emitting carbon dioxide into the atmosphere,” including “(i) electric generation facilities that are powered by nuclear, solar, wind, falling water, wave motion, tides, or geothermal power; (ii) a natural gas-fired generation facility with 80 percent carbon capture; or (iii) a coal-fired generation facility with 90 percent carbon capture.”