Oil and gas news & insights: Week of May 4
OCI is producing weekly news and resources updates for allies as part of our response to the COVID-19 crisis.
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2026
2026
First Tar Sands Tanker to Arrive in EU Next Week
You will not have heard of the Aleksey Kosygin, but next week this obscure sounding tanker is set to make history as it becomes the first major shipment of Canadian tar sands to arrive in Europe.
Trump’s War on Iran: As People Are Killed, Big Oil’s Windfall Will Deepen Our Energy Affordability Crisis
Trump’s illegal war with Iran has already taken a devastating human toll. It could also mean higher energy bills worldwide, while fossil fuel companies, traders and investors get rich.
Adding Fuel to the Fire: Export Credit Agencies and Fossil Fuel Finance
This report from Oil Change International and Friends of the Earth U.S. shows that since the Paris Agreement was made, G20 countries have used their export credit agencies to provide nearly 12 times more finance to fossil fuels than to...
Biden’s Fossil Fuel Fail: How U.S. Oil & Gas Supply Rises under the Inflation Reduction Act
A new report analyzes how the Inflation Reduction Act fails to reduce fossil fuel production or alleviate impact on environmental justice communities, and that current policies will instead lead to a deadly increase in oil and gas production and exports.
Sweden restricts international oil and gas finance to deliver on climate commitment
As the deadline for implementing the Glasgow Statement looms, the Swedish export credit agencies, SEK and EKN, have released an updated policy. A previously-released policy aligned Swedfund - the Swedish development finance institution - with the Glasgow Statement. SEK and...
Export Development Canada’s new climate targets miss the mark
Export Development Canada (EDC), Canada’s government-backed export credit agency, has long been one of the worst in the world when it comes to backing the fossil fuel industry with public money. Their new climate policy opens the door for meaningful...
Oil markets and pipelines: the big picture
Oil Change International released a report yesterday asserting that much of the oil to be delivered by the proposed Keystone XL pipeline will be refined into diesel and exported. We seem to have touched a raw nerve with some people...
Norway joins 40-signatory partnership to end international public finance for fossil fuels
Minutes ago, Norway joined a major international initiative to end international public finance for fossil fuels today at COP28, called the Clean Energy Transition Partnership.
As Gas Prices Remain High, US Becomes Net Exporter of Fuel
Until Sunday night one of the main talks of the town in Washington was gas prices. Now the talk of the town is Bin Laden’s death. Oh and gas prices. Because the issue of high gas prices is not going...