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Global oil demand slows

This year’s global oil demand growth is on track to be the slowest annual increase since the 2008 financial crisis, excluding the pandemic years.
A crude oil tanker is d.cked at Isla Oil Refinery PDVSA terminal in Willemstad on the island of Curacao,Henry Romero/Reuters

Mastercard reports lower emissions alongside 2024 revenue growth

The figures encapsulate a growing trend among major companies successfully “decoupling” emissions from revenues.
MastercardKārlis Dambrāns/Flickr/CreativeCommons/CC BY 2.0

Trump to attend AI and energy summit in Pittsburgh

Top fossil fuel and Wall Street CEOs will join US President Donald Trump for a summit on AI and energy on Tuesday.
Drillers work on an electric powered drilling platform at the Cape Station geothermal project in Milford/Jim Urquhart/Reuters

Offshore wind is finding a new survival strategy

Two new megadeals for offshore wind reveal the industry’s path out of the doldrums — just not in the US.
A view of the turbines at Orsted’s offshore wind farm near Nysted, Denmark.Tom Little/Reuters

Saudi inks $8B deal to expand domestic wind and solar capacity

Gulf countries are investing in renewable energy abroad as well as at home, both to decarbonize their power grids and to free up more fossil fuels for export.
Construction work on solar power arrays continues at rPlus Energies’ Green River Energy Center in Emery.Jim Urquhart/Reuters

Masdar, Iberdrola to build €5B UK wind farm

While the Gulf is best known for exporting oil and gas, firms like Masdar and Saudi Arabia’s ACWA Power are emerging as global players in renewables.
Miniatures of windmill, solar panel and electric pole are seen in front of Iberdrola Renewables logo in this illustration.Dado Ruvic/File Photo/Reuters

How Ukraine’s top energy CEO keeps the lights on and hope intact

DTEK’s Maxim Timchenko says smart investors should see the opportunity in rebuilding Ukraine’s energy system.

Trump chooses climate skeptic Chris Wright as energy secretary

Wright, CEO of the oilfield services firm Liberty Energy and a major Republican donor, said last year that “there is no climate crisis.”

EU lays out roadmap to cut 90% of emissions by 2040

The European Commission’s proposal would allow member nations to buy carbon credits from developing countries to help reach the target.

World must invest in drought resilience: OECD

Water shortages cause a third of all deaths from natural disasters, as droughts can cripple food production and cause starvation.

US rooftop solar companies are bracing for devastation

If Congress proceeds with a planned tax credit cut, a wave of bankruptcies is coming for US solar installers this year.

US climate withdrawal forcing a ‘rethink’: COP30 president

André Corrêa do Lago’s remarks come amid growing doubts over the November summit’s chance of success.

Climate fundraising facing ‘headwinds’: General Atlantic

The private equity giant’s global head of climate said anti-ESG rhetoric was a bigger challenge than geopolitics or trade tensions.

Trump’s ‘revenge’ tax has energy companies worried

The Republican-backed program would hike taxes on income generated by the US branches of foreign companies.

New York to build first nuclear power plant in 15 years

The announcement shows a reversal of the state’s animosity toward the sector.

Iran’s missing energy crisis is a win for ‘drill, baby, drill’

Oil prices tumbled as Iran and Israel agreed to a ceasefire.

Oil markets brace for shock after US attack on Iran

Oil prices are expected to jump in reaction to the US strikes on Iran’s nuclear facilities, but the long-term impact may be muted, experts said.

Wall Street still loves fossil fuels

There’s a silver lining for climate activists in the latest data on banks’ financing for oil and gas.