A study reveals that AI-driven productivity gains in the fossil fuel sector generate more planet-heating emissions than the climate benefits they provide to renewables, increasing annual net carbon pollution by 0.47-1.8 gigatonnes.
AI-driven productivity gains enable more fossil fuel pollution than they avoid from renewables, causing net yearly carbon emissions to rise by 0.47 to 1.8 gigatonnes, a new study reveals.
Exxon Mobil and Chevron reported massive second-quarter profit surges driven by record fuel prices and supply constraints stemming from a six-month conflict halting shipping through the Strait of Hormuz.
London Mayor warns of catastrophic climate impacts across Europe and the UK amid record heatwaves, condemning a rising tide of climate denial, political delay, and misinformation.
The US Senate approved a bill allowing President Trump to impose 100% tariffs on major purchasers of Russian oil and gas, such as China and India. Named after the late Senator Lindsey Graham, the legislation passed 86-11 and awaits House approval.
The US state department announced $1bn in security assistance for Colombia following the inauguration of rightwing President Abelardo De La Espriella, who pledged to crack down on drug trafficking and armed groups.
London mayor Sadiq Khan urged PM Andy Burnham's government to recommit to net zero and reduce oil and gas reliance amid extreme summer weather, as decisions on North Sea drilling loom.
Sen. Martin Heinrich is introducing a bill to end tax breaks for U.S. oil and gas companies operating overseas as the industry reports massive profits and high gasoline prices driven by conflict with Iran.
BP chief executive Meg O'Neill has urged UK Prime Minister Andy Burnham to prioritize domestic oil and gas resources, even as BP prepares to sell its North Sea business after reporting quarterly profits of $5.73bn.
BP reported a profit jump to $3.91 billion in the April-June period as fossil fuel prices soared amid the US-Iran conflict. CEO Meg O'Neill announced plans to sell several assets, including the North Sea business, as part of a strategic pivot back to oil and gas.
BP reports quarterly profits more than doubling to $5.73bn, driven by rising oil and gas prices from the Middle East crisis, as new CEO Meg O'Neill plans a major company overhaul.
UK manufacturing output grew for the fourth consecutive month at its fastest rate in nearly two years, driven by new domestic and export orders. However, the sector faces uncertainty from the Middle East conflict, rising energy costs, and subdued employment growth, despite optimism from some industry figures.
India's Union Cabinet approved the Rs 84,084 crore Samudra Manthan National Offshore Exploration Scheme, funding 50% of deepwater drilling costs to reduce import reliance. The initiative aims to attract global companies, unlock hydrocarbon reserves, and create shared infrastructure, marking a significant shift in energy security strategy.
Two tankers reported attacks near the Strait of Hormuz, with one damaged, as US-Iran tensions escalate. The incidents follow renewed US strikes on Iran and President Trump's threats, raising concerns about maritime security in the critical oil transit chokepoint.
BP has initiated a formal process to sell its North Sea oil and gas business, ending six decades of production from the basin. CEO Meg O’Neill stated the move is to simplify the company and focus on high-value opportunities, despite the North Sea's importance to UK energy.
BP announced plans to sell its North Sea oil and gas business, which employs 1,100 people across five production hubs, to focus on high-value opportunities. The move follows declining production, tax changes, and similar divestments by other energy majors, despite recent UK government signals for a pragmatic approach to North Sea resources.
Oman and Iran held talks on ensuring safe shipping through the Hormuz Strait, respecting both nations' sovereign rights, with progress made and ongoing technical/political consultations.
US considers retaliation against Iran, new anti-Russian sanctions face uncertain Congressional approval, and Russia enhances drone attack defenses in Kaliningrad.
New UK Energy Secretary Miatta Fahnbulleh faces immediate pressure from climate activists to halt new North Sea oil and gas drilling, particularly at the Jackdaw and Rosebank fields. Her appointment, following Ed Miliband, signals a continuation of decarbonization efforts, despite internal party and trade union lobbying for new fossil fuel expansion.
Norway's state oil company Equinor reported nearly doubled profits of $11.5bn in Q2, exceeding predictions, driven by increased oil and gas production and soaring prices due to the war against Iran and a blockade in the Strait of Hormuz.
The European Commission is betting that fossil fuel companies will continue exporting to Europe despite new methane emission rules, offering a three-year grace period for penalties. Industry warns of supply diversion, but the Commission believes high profits and new guidelines will ensure compliance, amidst rising energy prices from the Strait of Hormuz closure.
The U.S. Bureau of Land Management announced a September 15, 2026, lease sale for 2,840 acres in Wayne National Forest, opening it to fracking for the first time. This move, aligning with past administration policies, faces environmental opposition and legal challenges, while the government initiates a 30-day public protest period.
US President Donald Trump claimed Aberdeen residents would celebrate reports that incoming UK PM Andy Burnham might back new North Sea oil and gas drilling, despite Burnham not confirming the reports. Trump also criticized wind power.
Andy Burnham, expected to become Prime Minister, faces internal Labour opposition over potential new North Sea oil and gas drilling licenses. While his team hasn't confirmed details, "tieback" arrangements could allow drilling without breaching manifesto pledges, angering climate campaigners and some MPs.
