oil and gas industry

Shell sets out strategy for net-zero emissions

Following last year’s announcement of its ambition to become a net-zero emissions energy business by 2050, oil major Shell now set out details of how it will achieve the target to accelerate its transformation into a provider of net-zero emissions services.

Biden pauses new oil and natural gas leases

As part of his efforts to tackle the adverse effects of climate change, the newly elected US President, Joe Biden, signed a long-expected executive order, setting up a climate change task force and ordering federal agencies to enhance action. Among others, the EO foresees a controversial pause of new oil and natural gas leases on public lands or in offshore waters.

Oil production costs reach new lows

A Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the last two years, and 35% since 2014.

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