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Bloomberg ($): “This time is different” may be the most dangerous words in business: billions of dollars have been lost betting that history won’t repeat itself. And yet now, in the oil world, it looks like this time really will be. For the first time in decades, oil companies aren’t rushing to increase production to […]
OilPrice.com: As oil majors around the world solidify their positions in the hydrogen industry, the IEA has highlighted Latin America as a clear area of opportunity for the production of what many expect to be the energy source of the future. “Latin America could become a key contributor to the global push towards low carbon […]
Reuters: Japanese trading house Itochu Corp said on Wednesday it plans to exit the thermal coal business, selling its stakes in mines in Columbia and Australia by March 2024 as it aims to promote decarbonisation. Itochu’s statement was the first confirmation from the company that it would completely withdraw from thermal coal business. It had […]
Reuters: Anglo American will divest from its South African and Colombian thermal coal operations by mid-2023, the miner said on Friday as it sought to demonstrate to investors its commitment to a shift towards clean energy sources. The global miner said a de-merger and listing on the Johannesburg Stock Exchange was the most likely route […]
The Sydney Morning Herald: Glencore, one of the world’s biggest coal miners, has forecast its global output will fall by more than 25 per cent but its Australian mines will be among the last to close. Bowing to pressure from investors to set a net-zero emissions goal by 2050, the Anglo-Swiss giant outlined a new […]
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IEEFA: Guyana’s oil future relies on ‘lower-than-average governmental take’
Deal raises questions for ExxonMobil shareholders, Guyanese citizens
Last week, IHS Markit released an updated analysis of ExxonMobil’s progress in Guyana that projected significant oil and cash flow from the Yellowtail phase of development. The announcement is one of several upbeat reports about the progress of oil and gas development in Guyana. Buried in this optimistic assessment was an important insight: The company’s […]