A report released by the German environmental organization Urgewald on Tuesday highlights a significant rise in oil and gas production worldwide, which has left climate activists disillusioned in their quest for a shift toward renewable energy.
The upcoming United Nations climate change conference, COP30, is set to begin on Monday in Brazil.
The climate movement aimed for no growth in fossil fuel exploration. However, researchers at Urgewald expressed their frustration, noting that an astonishing ninety-six percent of fossil fuel companies are still on the rise, with growth accelerating by 33 percent since the International Energy Agency (IEA) suggested a pause back in 2021.
The global fossil fuel sector is dominated by five key players: Qatar Energy, Saudi Aramco, the UAE’s ADNOC, Russia’s Gazprom, and ExxonMobil, all of which plan to add an impressive 256 billion barrels of new oil production in the years ahead.
Nils Bartsch, a senior researcher at Urgewald, expressed his anger, stating that oil and gas companies are treating the Paris Agreement more like a polite suggestion than a necessity for survival.
“Considering 256 billion barrels of new projects, this isn’t a transition; it’s more like a defiance,” he stated emphatically.
Another analyst from Urgewald remarked that the fossil fuel industry is “speeding towards climate disaster with the pedal pressed to the metal.”
Activists were particularly incensed with Brazil, which “positioned itself as a climate leader at COP30, yet allowed oil and gas expansion right before the summit, putting one of our most delicate ecosystems at risk.”
The Brazilian state oil company Petrobras has recently initiated drilling in Foz de Amazonas, a deep-sea area close to the Amazon River’s mouth, and has plans for up to three additional wells.
Petrobras received authorization from Brazil’s environmental agency Ibama for further exploration in late October, a decision that has drawn fierce criticism from environmentalists, who view it as an act of “sabotage” to the COP30 discussions and have pledged legal action to stop the development.
Magda Chambriard, CEO of Petrobras, stated that while her company backs renewable energy technologies like biofuels, it cannot fulfill Brazil’s immediate energy demands without increasing oil production.
“With extensive research and development efforts by Petrobras’ technical teams, the energy transition will be financially viable,” she assured.
Urgewald’s report also criticized the Trump administration for promoting U.S. oil and gas development, notably through hydraulic fracturing for liquid natural gas (LNG). Venture Global, the top U.S. LNG exporter, plans to increase its operational capacity by 171%.
“U.S. hydraulic fracturing firms are producing far more gas than the domestic market can absorb. Faced with a surplus, they’re hastily building new LNG facilities to liquefy and export surplus gas globally,” the report stated.
A recent report by the United Nations Environment Program (UNEP) indicated that many nations are disregarding past commitments to move away from fossil fuels. Of the 60 countries that agreed to eliminate fossil fuels at the 2023 climate conference in Dubai, none have taken substantial steps toward that goal.
UNEP noted that the likelihood of achieving the Paris Agreement’s target of limiting global warming to 1.5 degrees Celsius by 2100 through fossil fuel phase-out is extremely low. The climate movement warns that exceeding a 1.5 °C increase could lead to dire consequences. Under current fossil fuel consumption trends, UNEP projects warming could reach up to 2.8 °C.
Additionally, the UN Framework Convention on Climate Change (UNFCCC) released its own report in October, predicting that greenhouse gas emissions could decrease by 10 percent over the next decade. However, climate advocates contend that a 60 percent reduction is essential.
