Chevron reinforces plan to deliver higher returns, lower carbon
March 9, 2021
Targets more than doubling return on capital employed by 2025 Expects free …
EV rollout will require huge investments in strained U.S. power grids
March 5, 2021
Reuters During several days of brutal cold in Texas, the city of Austin saw its fleet of 12 new electric buses rendered inoperative by a statewide power outage. That problem will be magnified next year, when officials plan to start purchasing electric-powered vehicles exclusively. The city’s transit agency has budgeted $650 million over 20 years for electric buses and a
Schlumberger New Energy, Chevron, and Microsoft collaborate on carbon negative Bioenergy
March 4, 2021
Clean Energy Systems technology to remove the equivalent of CO 2 emissions from…
Clean Energy, Total sign JV for renewable natural gas production
March 4, 2021
Reuters U.S. alternative fuels supplier Clean Energy Fuels Corp and its largest shareholder, European oil and gas producer Total SE, announced terms of a new joint venture on Thursday focused on renewable natural gas (RNG) production. Clean Energy’s shares rose 7.5% to $13.15 in pre-market trading. The joint venture, owned equally by both firms, will have an initial firm commitment
U.S. climate czar urges oil industry to hasten transition to renewables
March 2, 2021
Reuters WASHINGTON – U.S. climate envoy John Kerry on Tuesday urged oil and gas companies to do more to diversify and adopt low-carbon technologies to tackle climate change. Speaking alongside oil executives making the case for the continued production of oil and gas at the virtually-held CERAWeek conference, Kerry called for the United States to accelerate the development of hydrogen,
Oil industry lobby weighs support of carbon pricing: source
March 2, 2021
Reuters WASHINGTON – The main U.S. oil industry lobby group, the American Petroleum Institute, is weighing endorsing a price on carbon emissions, a major shift after long resisting mandatory government climate policies, a source familiar with the decision-making said. The American Petroleum Institute, which includes most of the world’s biggest oil companies, is considering endorsing carbon pricing “among other policy
Global LNG demand expected to almost double by 2040: Shell
February 25, 2021
Reuters LONDON – Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook. Demand was 360 million tonnes last year, up slightly from 2019’s 358 million tonnes, despite volatility caused by lockdowns during the coronavirus pandemic. Global LNG prices hit a record low
Chevron launches $300 million fund to focus on low-carbon technology
February 25, 2021
Reuters Chevron Corp on Thursday said it had launched a $300 million fund focused on low-carbon technology, as traditional global oil and gas firms attempt to invest more in green energy and tackle climate change. Major energy firms have set targets to reduce greenhouse gas emissions or are exploring investments in renewable energy and green technology amid rising pressure from
Chevron and BP back renewable start-up focused on geothermal energy
February 16, 2021
CNBC Canada-based geothermal company Eavor Technologies on Tuesday announced a $40 million funding round that included participation from BP Ventures and Chevron Technology Ventures as big oil companies increase investments in renewable energy. Geothermal power is renewable energy produced from underground heat. The U.S. Department of Energy calls geothermal a “vital clean energy resource,” noting that it emits little to
EU to seek fossil fuel phase-out in energy charter treaty talks: document
February 16, 2021
Reuters BRUSSELS – The European Union’s executive will push for a 10-year phase-out of the protection for fossil fuels under an international energy treaty, following calls from some countries to quit the accord unless it can be aligned with Europe’s climate goals. The more than 50 signatories to the Energy Charter Treaty will next month resume talks to update the
Tight supply and hydrogen hopes drive iridium up 160%
February 12, 2021
Reuters LONDON – Iridium has become the latest precious metal to undergo a spectacular price rally, after supply shortages and expectations it will be used to produce hydrogen to power a greener economy lifted its value by 160% in two months. The difficulty of raising output means prices could rise further, analysts said. A byproduct of platinum and palladium mining,
With oil past peak, Shell sharpens 2050 zero emissions goal
February 11, 2021
Reuters LONDON – Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as its oil output declines from a 2019 peak. The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in the face of growing investor pressure
