OPEC in a report on Wednesday forecast world oil demand in 2027 would rise at a similar rate to this year and data in the study indicated a close balance between supply and demand in 2026, a copy of t... ...

Kazakhstan has urged Europe and the U.S. to help secure the transport of oil following drone attacks on tankers heading to a Black Sea terminal, the Central Asian country's foreign ministry said on We... ...

Core Viewpoint - The Dutch group Follow This is launching a revised strategy to increase shareholder pressure on the financial sustainability of fossil fuel business models, particularly targeting major oil companies like Shell and BP during the upcoming proxy season [1][2]. Group 1: Strategy and Focus - Follow This aims to shift its focus from requesting emission reduction targets to highlighting the financial risks associated with declining oil and gas demand [2][3]. - The group has co-filed new shareholder resolutions for the Annual General Meetings of Shell and BP, requesting disclosures on strategies for creating shareholder value amid falling oil and gas demand [3][11]. Group 2: Investor Support and Concerns - Follow This has partnered with 23 institutional investors managing €1.5 trillion ($1.75 trillion) in assets to bolster its resolutions [3]. - Support for climate-related resolutions has plateaued at around 20% in recent years, partly due to legal risk concerns, especially in the U.S. [6]. Group 3: Company Responses and Market Dynamics - Shell and BP have recently scaled back their green energy investments, focusing instead on their core hydrocarbon businesses [14][17]. - Shell plans to become a net-zero company by 2050, while BP has also committed to this goal but has faced scrutiny over its strategy amid declining oil and gas demand projections [11][17]. Group 4: Future Projections and Strategic Changes - Analysts project a significant decline in oil and gas demand, which raises concerns about BP's current growth assumptions in its strategy [17]. - BP has announced plans to reach $20 billion in divestments by the end of 2027, including a recent $6 billion sale of a 65% stake in its lubricants business [18].

Group 1 - A climate activist shareholder group named Follow This, along with over 20 other investors, has filed resolutions urging BP and Shell to disclose their strategies for creating value in a scenario where global demand for oil and gas declines significantly [1]

Core Viewpoint - Shell has decided to abandon the £500 million sale of gas fields in the North Sea to Viaro Energy due to unmet completion conditions, amidst allegations of fraud against Viaro's owner, Francesco Mazzagatti [1][2][3]. Group 1: Sale Abandonment - Shell will no longer proceed with the sale of nearly a dozen gas fields to Viaro Energy, citing that the completion conditions were not met [1]. - The deal was initially announced in July 2024, aiming to offload 5% of Britain's North Sea gas production to Viaro, but faced delays due to scrutiny of Mazzagatti's affairs [2][3]. - The North Sea Transition Authority (NSTA) delayed approval of the deal, stating it was awaiting additional information from Viaro [3]. Group 2: Allegations Against Mazzagatti - Mazzagatti faces multiple allegations, including document forgery and misappropriation of tens of millions of pounds, which he denies [2][5]. - The allegations are part of a legal dispute with his former employer, Alliance Petrochemical Investment (API), which claims he misused company funds to build his North Sea operations [6]. - Mazzagatti has characterized the allegations as part of a "vexatious campaign of defamation, harassment and extortion" [5][6]. Group 3: Viaro's Position - Viaro previously claimed that acquiring the gas fields would give it control over a significant portion of the UK's energy production and security [4]. - A spokesman for Mazzagatti indicated that the decision to halt the deal was mutual, citing evolving commercial and market conditions [5].

CALGARY, AB, Jan. 14, 2026 /PRNewswire/ -- (TSX.V: GRDOTCQB: GRDAF) - Grounded Lithium Corp. ("GLC", "Grounded", or the "Company") announces we have entered into a definitive agreement dated December 30, 2025 (the "Purchase Agreement") to acquire (the "Acquisition") a minority interest in oil and gas mineral rights in Saskatchewan with the strategic rationale to supplement cash flow and working capital reserves as the Kindersley Lithium Project ("KLP") continues to advance with our partner, Denison Mines Co ...

Group 1 - TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris to sell its 10% non-operated interest in the Renaissance JV licenses in Nigeria [1][5] - The Renaissance JV consists of 18 licenses in the Niger Delta, with the Nigerian National Petroleum Corporation Ltd holding 55%, Renaissance Africa Energy Company Ltd 30%, TotalEnergies EP Nigeria 10%, and Agip Energy and Natural Resources Nigeria 5% [2] - The agreement's closing is subject to customary conditions, including regulatory approvals [2] Group 2 - TotalEnergies has been operating in Nigeria for over 60 years, employing more than 1,800 people and producing 209,000 barrels of oil equivalent per day in 2024 [2] - The company operates an extensive distribution network in Nigeria, including approximately 540 service stations, and is committed to socio-economic development and collaboration with local communities [2] - The sale includes TotalEnergies EP Nigeria's 10% interest in 15 licenses producing mainly oil, which represented about 16,000 barrels equivalent per day in 2025, and 10% interest in three gas-producing licenses while retaining full economic interest in these licenses [5]

Group 1 - The energy company has indicated that its fourth-quarter oil-trading performance is expected to be weak, which will negatively impact earnings [1] - This warning aligns with a similar statement made by British peer Shell, suggesting a broader trend in the industry regarding oil trading performance [1]

Core Insights - Indian Oil Corp has purchased its first Ecuadorean Oriente crude cargo for delivery at the end of March, indicating a strategic move to diversify its oil sourcing [1] Group 1: Company Actions - The acquisition of Ecuadorean Oriente crude is part of Indian Oil Corp's strategy to expand its oil sourcing [1] - This move aims to partially replace some of its existing crude supplies, reflecting a proactive approach to securing energy resources [1]

Group 1 - TotalEnergies has established a 50-50 joint venture with Bapco Energies named BxT Trading [1]