According to a document obtained by, Institutional Shareholder Services Inc. (ISS), a proxy advisor, recommends that shareholders vote for the reelection of BP’s board and management during the annual general meeting on April 17. BP's stock has performed worse than rivals Shell and Exxon over the past five years. Investors have blamed this in part on 2020, the company’s plan to grow its renewable business and cut oil and gas production. After watering down this plan, BP accelerated the pivot back to hydrocarbons with a new strategy last month. Two shareholders said that Elliott Management, an activist shareholder with a...

Shell pledged on Tuesday to return more cash, mostly via buybacks. It also trimmed its budget for investment through 2028, and hinted at the possibility of selling or closing certain of its chemical assets. Oil and Gas Major raised shareholder distribution target from 30%-40% to 40%- 50% of cash flows from operations. The world's largest liquefied gas (LNG), trader, also stated that it aimed to increase LNG sales by 4-5% annually over the next five-year period and production by 1% per year while maintaining oil output at 1.4 million barrels a day. Shell predicts that global demand for natural gas...

Alaskan state officials, including the governor and energy officials, visited South Korea to discuss energy collaboration on Tuesday. This was in response to President Donald Trump's call for U.S. ally countries to join an stalled pipeline project. The American Chamber of Commerce in Korea said that the Governor Mike Dunleavy delegation included officials from the Glanfarne Group, which is a partner in a project to transport natural gas from Alaska's remote northern region via a $44-billion pipeline, and the state agency for gas. Dunleavy and South Korean Industry Minister Ahn duk-geun discussed energy issues including the Alaska LNG project and...

OPEC+ released a new schedule on Thursday for seven members nations to continue to cut oil production to compensate for pumping over agreed levels. This will be more than the monthly production increases the group plans to implement next month. According to a table posted on the OPEC website, the plan calls for monthly cuts between 189,000 barrels a day and 435,000 bpd. The planned cuts will last until June 20,26. OPEC+ (which includes OPEC, Russia, and other allies) has agreed to a series steps to support the global market. Since 2022, they have cut their output by 5,85 million...

Alaska's Governor and State Representatives will be visiting Japan and three other Asian Countries starting this week in order to court investors for the natural gas project that President Donald Trump claims could pump trillions into the U.S. Tim Fitzpatrick, spokesperson for the Alaska Gasline Development Corporation and Glenfarne Group, said that officials from both organizations will be visiting allied Asian nations "to inform industry leaders about Alaska LNG's competitive advantages and economics", and to discuss possible opportunities. Officials want to ship liquefied gas from Alaska's remote northern region to Japan, South Korea, and Taiwan via a 1,300 km (800...

Executives at the CERAWeek Conference in Houston explained that artificial intelligence has accelerated oil and gas drilling, and prompted companies to reconsider areas they previously deemed too expensive or difficult to develop. AI was a major topic in several sessions of the largest energy conference. Oil producers are looking for ways to stay profitable amid a plummeting price of oil and concerns that U.S. president Donald Trump's tariffs may slow down global energy demand. Ann Davies, BP’s senior vice-president of wells, revealed that the UK oil giant BP uses AI to predict problems and steer drill bits before they occur....

The best way to navigate the challenges that the U.S. president Donald Trump's inconsistent and erratic trade policies are posing for the global commodity markets is to ignore the noise and concentrate on the fundamentals. While the media focuses on every headline-grabbing announcement or social media post regarding new and retaliatory duties from the U.S. president and his administration the commodity markets continue to do what they have done in the past: adapt to rapidly changing conditions. It's important to distinguish between commodities that are already affected by Trump's policies and those likely to be impacted in the future. There...

On Wednesday, Turkish Energy minister Alparslan Bayraktar announced on the social media platform X that TPAO, Turkey's national oil company, had signed a joint-venture agreement with U.S. producer Continental Resources for the development of shale deposits in Diyarbakir Basin. This cooperation will contribute greatly to our goal to bring Turkiye’s oil and natural gas resources into our economy. "I hope that this agreement will benefit all parties, as it opens up a new phase in Turkiye's exploration," he wrote in the blog. The Turkish oil and gas industry is not very large. Continental Resources CEO Doug Lawler stated in an...

On Tuesday, the Premier of Ontario who imposed a 25 percent surcharge on exports of electricity to the United States said that he wouldn't back down until U.S. president Donald Trump removed his tariffs against Canadian imports. Doug Ford reiterated his threat from Monday and said that he wouldn't hesitate to reduce the supply if necessary. Ontario exports electricity to 1.5 million homes across New York, Minnesota, and Michigan. We will not retreat. We will not back down. Ford apologized to the American public for President Trump's unprovoked attacks on our country. This was shortly after Trump announced he would...

The government announced on Thursday that an international arbitration court would hear the dispute between Guyana, a consortium headed by Lindsayca of the United States and a consortium awarded a contract to build a gas-fueled plant and a plant for natural gas liquids. The consortium says it was late in gaining access to the site, and that this has caused construction to be delayed by about three months. In a press release, the Energy Ministry said that the International Chamber of Commerce would hear from the Guyana government, Lindsayca, and CH4 Systems regarding the delays. The project will lower the...

The U.S. Department of Energy announced on Wednesday that it had approved a permit extension for exports of natural gas liquefied from the Golden Pass LNG LLC, a joint venture between QatarEnergy ExxonMobil, which is being built in Texas. The $10 billion Sabine Pass project, currently under construction in Texas, will be able to export LNG to major markets in Asia and Europe with the approval of this extension. Exports could start as soon as this year. The DOE stated that it would become the ninth major export terminal in the United States once built. QatarEnergy holds 70% and ExxonMobil...

The European Commission on Wednesday proposed that EU gas storage targets and requirements be maintained for another two years despite concerns from some countries about the goal's impact on gas prices. In the proposal, the EU executive favored keeping until 2027 the target of filling EU gas storage caverns up to 90% capacity by November 1 of each year. It also proposed a number of intermediate targets for the months preceding November. Now, the proposal will be discussed and voted on by EU member states and the European Parliament. In its proposal, the Commission said that the target for Nov....

The environment minister announced on Monday that South African coal-fired electricity stations had received some exemptions from the air quality laws, and regulations aimed at reducing harmful emissions. However, he stressed that these measures were not a "blanket respite". The government struggles to find a balance between the calls to reduce carbon emissions and to stop them and the need to supply electricity to Africa's largest economy which is stagnant due to power outages. Eskom, the power utility that generates South Africa's majority of electricity from its fleet of coal-fired plants, applied to exempt 8 of these plants from air...

The light rain brought some relief to South Korean authorities who are battling the worst wildfires in country history. Firefighters were exhausted and made another effort on Friday to control blazes that stretched 70 km (44miles). In the last week, strong winds from central Uiseong County to the coastal areas have caused fires that have burned more than 45,000 ha (111,197 acres). At a press briefing, Lim Sang Seop, Korea Forest Service Minister, said: "Conditions have improved and we still have a chance. We are using all our resources to do everything we can to put out the fires." Uiseong...

Just Stop Oil in Britain, which has been known for its high-profile actions, including throwing soup on a Van Gogh picture and disrupting sports and theater events, announced Thursday that they would be ending their direct action campaign. The group that has been campaigning for Britain to stop extracting oil and gas in 2030, and which over the past few years has become the most well-known protest organisation of the country, announced it would "hang up the hi-vis" at the end April. In recent months, activists of the group have painted the grave of Charles Darwin, British naturalist, at Westminster...

The U.S. Supreme Court rejected on Monday a bid from 21 young people who wanted to bring back a novel suit claiming that the U.S. Government's energy policy violates their right to be protected against climate change. The justices refused to hear the appeals of the youth activists against a ruling by the 9th U.S. Circuit Court in San Francisco. Circuit Court of Appeals directed a federal judge to dismiss the case in Oregon after finding that they lacked standing to sue. The verdict marks the end to Juliana v. United States. It was one of the most long-running climate...

The U.S. Supreme Court rejected on Monday a bid from 21 young people who wanted to bring back a novel suit claiming that the U.S. Government's energy policy violates their right to be protected against climate change. The justices refused to hear the appeal by the youth activists of a ruling by the 9th U.S. Circuit Court in San Francisco. Circuit Court of Appeals directed a federal judge to dismiss the case in Oregon after finding that they lacked standing to sue. The verdict marks the end to Juliana v. United States. It was one of the most long-running climate...

It said that the European Commission had delayed its plan to present a new EU Climate Target in the first quarter this year. This has pushed back the expected launch of a commitment to reduce emissions by 2040. Last month, Brussels announced that it would amend EU's Climate Law this quarter. This long-planned change would establish a 2040 goal to keep the countries on track with their 2030 emission goals and the bloc’s aim of zero net emissions by the year 2050. The proposal has met with opposition from some states and legislators who are unwilling to support the Commission's...

Iranians are urged to reduce water consumption as dam levels drop Farmers in the United States are suffering from a nationwide water shortage The shortfall is similar to an overdrawn account By Sanam Mahoozi The water levels in the dams surrounding the capital are at an all-time low. Water rationing is expected this summer, as the country wilts from a severe drought. As water levels decline, lakes are disappearing and farmers are struggling. In cities, huge sinkholes appear. The kitchen taps often run dry, and students are concerned about the washing. Last week, the managing director of Tehran’s Water and...

The U.N.'s weather agency said that record levels of greenhouse gases have helped to bring temperatures to their highest level ever in 2024. They also accelerated glacier and sea-ice loss, raised sea levels, and brought the world closer towards a critical warming threshold. The World Meteorological Organization's (WMO) annual climate report stated that the average temperature was 1.55 degrees Celsius (2.79 degrees Fahrenheit), above pre-industrial levels, last year. This is 0.1C higher than the previous record set in 2023. In the 2015 Paris Agreement, countries agreed to limit temperature rises to 1.5C over the average of 1850-1900. WMO stated that...

Interface, a think-tank, said that the European Union must focus on its lower-emission semiconductor manufacturing to reduce pollution, as the production of computer chips for AI is increasing rapidly. Interface, in a report on pollution trends within the chemical-intensive sector of semiconductors published Monday, found that the energy consumption had increased 125% worldwide over the last eight years. This was due to both the increase in output and the fact that cutting-edge chip manufacturing caused more emissions. Chips that are "older" or "legacy", such as those found in automobiles, power grids, and industrial applications are less polluting. In an email,...

Thames Water, Britain’s largest water supplier, announced on Monday that its 3 billion pounds ($3.9 billion) debt-lifeline will go ahead, after all appeals were dismissed. This allows the company to avoid an immediate state rescue. Thames Water had two appeals to make after obtaining court approval for a new loan in Feburary. However, both were denied by the Court of Appeal in a sealed decision on Monday. The reasons were stated in the sealed order and would be revealed in the "due process" judgment. A group of junior creditor, who argued that the rescue favored senior creditors, as well as...

Under the dark seas of southern England, 400 millions mussels are encrusted on ropes that hang from buoys scattered over an area as large as the largest airport in the country. The Holmyards built Europe's biggest offshore mussel farming in Lyme Bay. They believed that it would be able to handle the millions of gallons sewage that is pumped into UK water each year. Even if the bacteria are far away, they can still pollute the water and block exports for several weeks to Europe. This could damage the business of a company that produces sustainable food. Sarah Holmyard, the...

The shares of European truck manufacturers fell Thursday after the U.S. Environmental Protection Agency announced that it would begin efforts to reverse Biden's administration's vehicle emission rules. Analysts say that trucking fleet companies had expected to "pre-buy", trucks before the new rules came into effect, which would have driven up demand. This is unlikely to happen now. Pal Skirta, an analyst at Metzler, said that the market is likely to assume the tighter regulations are going to be reversed. This means there's no expectation of a surge in pre-purchases for the second half 2025-2026. Skirta stated that this was the...