Oil & Gas 360º

MARCH 4, 2025

Last week, BP said that it is increasing its investment in upstream oil and gas to $10 billion per year while slashing spending on clean energy by more than $5 billion a year in the highly anticipated strategy reset. million barrels of oil equivalent per day (boed) in 2030, with capacity to increase to 2035.

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Energy Central

JUNE 24, 2024

The International Energy Agency (IEA) recently released its Oil 2024 report, which examines the global dynamics for oil supply security, refining, trade, and investment.

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Valor

FEBRUARY 24, 2025

per barrel, while WTI dropped 28 cents to $70.12 per barrel, following a $2 decline on Friday. Read more BP to abandon green energy target and ramp up oil Summary : BP will abandon its plan to expand renewable energy generation 20-fold by 2030, scrapping its target of reaching 50 gigawatts (GW) and maintaining its current 8.2

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Energy Central

JUNE 24, 2024

" By IEA’s estimates, the world will still be using too much oil to be on track for climate targets by 2030 — even though EVs are expected to displace millions of barrels of oil per day by then. Canary Media: "Chart: Electric vehicle growth is slowly eating into global oil demand."

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Rextag

FEBRUARY 17, 2025

The International Energy Agency (IEA), once regarded as the gold standard for energy forecasting, now faces significant criticism for its 2024 World Energy Outlook (WEO). Mills, Executive Director of the National Center for Energy Analytics, and Neil Atkinson, Special Advisor , the IEAs peak oil demand forecast is deeply flawed.

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Rextag

MARCH 3, 2025

BP has announced a shift in its energy strategy, moving away from aggressive renewables investments and increasing its oil and gas production spending. He stated that BPs initial faith in green energy was misplaced , leading to a strategic reset prioritizing stronger financial performance and higher shareholder returns. million and 2.5

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Rextag

FEBRUARY 13, 2025

Still, market watchers see the move as part of a larger trend: investors pushing traditional energy companies to maximize immediate shareholder returns rather than spending heavily on lower-carbon initiatives that may take years to pay off. Renewable Natural Gas (RNG) : Archaea Energy started up nine new RNG plants in the U.S.,

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