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02 December 2023

Cop: 118 countries pledge to triple renewable capacity

Almost 120 countries have signed on to triple the world's current renewable energy generation capacity by 2030 and collectively double global energy efficiency by the same date, Cop 28 President Sultan al-Jaber announced on Saturday. Speaking on the sidelines of the UN climate summit in Dubai, al-J

02 December 2023

Cop: Indonesia’s Pertamina aims to progress CCS plans

Indonesian state-owned oil firm Pertamina said today it is aiming to progress its carbon capture and storage (CCS) initiatives to help decarbonise its operations, as it intends to increase its oil and gas production. CCS is important for Pertamina as it is a state-owned enterprise which is mandated

02 December 2023

Cop: Oil, gas pledge operations emissions cuts: Update

A total of 50 oil and gas companies, representing over 40pc of global oil production, today signed the Oil and Gas Decarbonisation Charter, pledging to “net-zero operations” by 2050 and “near-zero upstream methane emissions” by 2030. Signatories promised to end routine flaring by 2030. The charter

02 December 2023

Cop: Oil, gas firms pledge emissions cuts from operations

A total of 50 oil and gas companies, representing over 40pc of global oil production, today signed the Oil and Gas Decarbonisation Charter, pledging to “net-zero operations” by 2050 and “near-zero upstream methane emissions” by 2030. Signatories promised to end routine flaring by 2030. The charter

02 December 2023

Cop: Barbados urges for more methane, fossil fuel action

Barbadian prime minister Mia Mottley — a leading voice for climate action and vulnerable countries — called for a stronger agreement on global methane emissions, adding that voluntary commitments from oil and gas companies are not sufficient. “The reality is that the global methane agreement that t

02 December 2023

Cop: US pledges $3bn to UN climate fund

The US on Saturday pledged an additional $3bn to the UN Green Climate Fund, as it seeks to reassure the rest of the world that it will not skip out on its commitments under the Paris Agreement. US vice president Kamala Harris announced the funding at the Cop 28 UN climate talks in Dubai where she t

02 December 2023

Cop: Irena DG sees tripling renewables goal agreed at summit

The Cop 28 UN climate summit's final declaration is likely to contain language on tripling renewable energy capacity by 2030, as 111 countries taking part in the talks in Dubai have already said they would support the “ambitious pledge”, International Renewable Energy Agency (Irena) director genera

02 December 2023

Cop: US joins coal phase-out pledge

The US and six other countries on Saturday joined a coalition supporting the phase-out of unabated coal-fired electricity generation. The US, along with the Czech Republic, Cyprus, Dominican Republic, Iceland, Norway and Kosovo joined the Power Past Coal Alliance (PPCA), committing to not building

02 December 2023

Cop: US finalises broad methane limits on oil sector

Oil and gas producers across the US will have to address methane leaks and gradually eliminate routine flaring from new wells under landmark regulations finalised today by President Joe Biden's administration. The regulations for the first time will impose federal methane limits on the vast number

01 December 2023

Marine fuel global weekly market update

A weekly Argus news digest of interest to the conventional and alternative marine fuel markets. To speak to our team about accessing the stories below and access to Argus Marine Fuels , please contact marinefuels@argusmedia.com. Alternative marine fuels 1 December EU's bio-feedstock rules face real

01 December 2023

CNPE define metas para o Renovabio de 2024 a 2033

O Conselho Nacional de Política Energética (CNPE) definiu, após consulta pública, as metas da Política Nacional de Biocombustíveis (Renovabio) para os créditos de descarbonização (Cbio) nos próximos dez anos. A meta para 2024 será de 38,78 milhões de Cbios, queda de 24pc em relação à previsão origi

01 December 2023

US holds off on Venezuela sanctions snapback

The US today welcomed Venezuela's decision to open a pathway for opposition candidates to run in the country's presidential election, signaling no imminent action to snap back oil sanctions lifted six weeks ago. But the US continues to insist that Caracas must release more political prisoners and U

01 December 2023

US diesel, jet fuel demand diverge

Demand for US diesel and jet fuel have diverged heading into December amid rising airline travel and slowing agricultural activity. Last week's US diesel consumption, as measured by products supplied, was the lowest for any November week since 1998 at 3.014mn b/d, Energy Information Administration

01 December 2023

Activist fund Elliott targets Phillips 66

Activist hedge fund Elliott Investment Management has purchased a $1bn stake in US refiner Phillips 66 and is calling for the company to refocus on its refining business and reduce operating costs. Elliott says the company has underperformed compared with its peers Valero and Marathon Petroleum, wh

01 December 2023

International court warns Venezuela over Guyana vote

The International Court of Justice (ICJ) today warned Venezuela it should take no action to seize neighboring Guyana's resource-rich Essequibo province, regardless of the outcome of a 3 December referendum on the status of the disputed territory. Guyana and Venezuela "shall refrain from any action

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