Is It Time To Abandon the Idea of Phasing Out Oil and Gas

Despite feigning interest, Big Oil still appears to oppose the global green transition and could well stand in its way. As Saudi’s state oil company leader condemns the green transition and calls for long-term oil production, other major industry players are voicing their scepticism around renewable energy and clean tech. Despite large investments into green energy and carbon-cutting projects from several oil and gas majors, Big Oil still appears to be heavily favouring fossil fuel production.

During the Houston Conference, other oil and gas executives echoed Nasser’s views on the need for more investment in oil and gas. The CEO of Shell, Wael Sawan, highlighted the difficulties faced by the energy industry due to government bureaucracy in Europe, which was slowing the rollout of renewable energy projects. Meanwhile, Exxon Mobil’s CEO Darren Woods emphasised the continued high demand for petroleum products.

Source: Energy Industry News (energyindustrynews.net)

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil Prices Under Pressure As U.S. Crude Oil Inventories ClimbCrude oil inventories in the United States rose this week by 9.337 million barrels for the week ending March 22
Source: OilandEnergy - 🏆 34. / 68 Read more »

Oil Industry Executives Say Oil Demand Is Beating ForecastsOil industry leaders are revising oil demand growth forecasts upwards due to stronger than expected consumption across all economies.
Source: OilandEnergy - 🏆 34. / 68 Read more »

StanChart Oil Demand Set for All-Time High in MayStandard Chartered global demand will hit a new all-time high of 103.01 mb/d in May.
Source: OilandEnergy - 🏆 34. / 68 Read more »

The exact date and time clocks change in March 2024 and what is British Summer Time?As Spring gets under way, Brits can look forward to warmer temperatures, more sunshine and longer nights.
Source: LBCNews - 🏆 75. / 59 Read more »

Exact date and time clocks go forward as British Summer Time startsThe days are becoming longer and brighter as the seasons change
Source: nottslive - 🏆 96. / 52 Read more »

It's that time again: Tips on adjusting to the start of Daylight Saving TimeWhen the clocks spring forward or fall back, many folks will find themselves struggling to adjust.
Source: medical_xpress - 🏆 101. / 51 Read more »