Norway Approves Extension to Giant Oil Field

Authorities in Norway have formally approved the development and operation of the second phase of the giant Johan Sverdrup oil field. Developer Equinor says the extension to the field, with planned start-up in 2022, will increase production from 440,000 barrels of oil per day to 660,000 barrels per day. Johan …

Cambridge University Agrees to Explore Fossil Fuel Divestment Plan

The former archbishop of Canterbury Rowan Williams has welcomed an “urgent change” by Cambridge University, after it agreed to provide fully costed plans setting out how it could divest multibillion-pound endowments from fossil fuel corporations. The university’s management accepted a motion, known as a grace, which urged Cambridge to “set …

ExxonMobil Signs Deal to Explore 28,000 sq km in Offshore Namibia

ExxonMobil has signed a deal for new oil and gas exploration across 28,000 square kilometres in Namibia. The energy giant made the agreement with the Namibian Government and the National Petroleum Corporation of Namibia (NAMCOR) for blocks 1710, 1810, 1711 and 1811A – it plans to begin exploration activities, such …

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Planned $4.9tn Oil and Gas Investment ‘Not Compatible with Climate Goals’

A planned investment of $4.9 trillion (£3.8tn) in new oil and gas exploration and extraction over the next decade is incompatible with international climate obligations. That’s according to new analysis by Global Witness, which claims any fossil fuel production and use from fields not yet in operation or development will …

Shell to Invest $300m to Offset Carbon Emissions

Royal Dutch Shell has committed to invest $300 million (£230m) over the next three years in projects that help offset carbon emissions. It will fund large-scale forest projects in Indonesia, Peru and the US as part of its strategy to act on climate change and will contribute to the energy …

Coal Prices Continue to Rise, Becoming More Costly Than Solar and Wind Alternatives

Around three-quarters of US coal production is now more expensive than solar and wind energy in providing electricity to American households, according to a new study. “Even without major policy shift we will continue to see coal retire pretty rapidly,” said Mike O’Boyle, the co-author of the report for Energy …

IEA: Global Carbon Emissions Hit Record High in 2018

Global energy-related carbon dioxide (CO2) emissions hit a new record last year, with an increase of 1.7% globally. That was a result of higher energy consumption, which grew by 2.3% – nearly twice the average rate of growth since 2010, according to latest figures from the International Energy Agency (IEA). …