Reuters In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral. While the two-million-barrel cargo to India was destined to produce more than a million tons of planet-warming carbon over its lifecycle, from well to tailpipe, the Texas-based driller said it had completely
Oil and Gas 360 A recent whitepaper authored by Charles McConnell with the Center for Carbon Management in Energy at the University of Houston, in collaboration with the Gutierrez Energy Management Institute, focused on the new technologies required for an energy transition, none more critical than the broad commercial deployment of carbon capture, utilization and storage, or CCUS. The ability
CNBC JPMorgan Chase said Thursday it will commit more than $2.5 trillion over the next decade toward long-term solutions that tackle climate action and contribute to sustainable development. Within the initiative, $1 trillion is earmarked for green projects, including renewable energy and clean technologies that are focused on speeding the transition to a low-carbon economy. The $2.5 trillion target, which
Reuters LONDON – Global oil prices could drop to around $40 a barrel by 2030 if governments push to reduce fuel consumption in step with U.N.-backed plans to limit global warming, a leading energy consultancy said on Thursday. In a report outlining a scenario where the world acts decisively to tackle greenhouse gas emissions by electrifying transport and industry, Edinburgh-based
CNBC LONDON — The world’s dependency on fossil fuels is likely to get even worse in the coming decades, exacerbating the risk of a climate catastrophe as world leaders and CEOs repeatedly tout their commitment to the so-called “energy transition.” Policymakers are under intensifying pressure to deliver on promises made as part of the Paris Agreement ahead of this year’s COP26,
Reuters FRANKFURT – Europe could devote 40,000 km (24,800 miles) of natural gas pipelines to hydrogen by 2040 once production and imports of the alternative fuel take off, transmission systems operators (TSOs) said on Tuesday. The hypothetical European hydrogen backbone scenario envisages how elements of 2020 “green” hydrogen strategies at European Union and national level will fit together, said speakers
Reuters LONDON – Phasing out consumption of fossil fuels in favour of zero-emission sources of energy will cause major social and economic disruption, creating a large number of losers as well as winners. Policymakers have begun to focus on the need for a just or equitable transition to address some of these impacts and broaden political support for ambitious decarbonisation.
Reuters Canada’s biggest oil sands producers are generating billions more in free cash flow in a faster-than-expected pandemic rebound, but taking a cautious approach to spending it that is disappointing environment-minded investors. Their strategy to repay debts and pay shareholders has won praise from investors in Canadian Natural Resources, Suncor Energy and Cenovus Energy who are eager for higher returns.
Reuters WASHINGTON – President Joe Biden’s vast infrastructure plan includes $174 billion to boost the markets for electric vehicles and billions more for renewable power – both provisions aimed at weaning the U.S. off of fossil fuels and combating climate change. The $2 trillion plan, which also seeks to invest in traditional projects like roads and bridges, is a centerpiece
Reuters LONDON – Energy trader Gunvor Group aims to cut its Scope 1 and 2 emissions by 40% in absolute terms by 2025, the company said on Tuesday, and has set up a new subsidiary to invest in non-hydrocarbon projects. The Geneva-based firm, which is among the top five global oil traders, aims to cut emissions it produces directly, and
Reuters The administration of U.S. President Joe Biden said on Monday that it has set a goal to vastly expand the nation’s offshore wind energy capacity in the coming decade by opening new areas to development, speeding environmental permitting, and boosting public financing for projects. The plan is part of Biden’s broader effort to rapidly transition the U.S. economy to
Oil and Gas 360 Haynes and Boone, LLP and EnerCom, Inc. have launched a new research report that tracks how oil and gas companies are responding to growing pressure to support and communicate environmental, social and governance (ESG) policies and report their progress implementing those policies. The inaugural Oil and Gas ESG Tracker analyzes ESG programs, if any, of
