renewables – Page 3 – Oil & Gas 360

Sustained higher oil prices to spur U.S. output growth: JP Morgan- oil and gas 360- oil and gas 360

German steel powerhouse turns to ‘green’ hydrogen produced using huge wind turbines

March 12, 2021

CNBC A major green hydrogen facility in Germany has started operations, with those behind the project hoping it will help to decarbonize the energy-intensive steel industry in the years ahead. The “WindH2” project involves German steel giant Salzgitter, E.ON subsidiary Avacon and Linde, a firm specializing in engineering and industrial gases. Hydrogen can be produced in a number of ways. One method includes using

Shell’s 2020 carbon emissions fall on the back of fuel sales drop

March 11, 2021

Reuters LONDON – Royal Dutch Shell, owner of the world’s largest fuel retail network, said on Thursday its total greenhouse gas emissions dropped 16% in 2020 as oil and gas sales fell sharply due to the coronavirus pandemic. hell said in its annual report that total emissions from its oil wells to forecourt fuel sales fell to 1.38 billion tonnes

Exclusive: BP bets on energy trading to fund strategy shift after bumper year

March 11, 2021

Reuters LONDON – BP’s trading arm made nearly $4 billion in 2020, according to a copy of an internal BP presentation seen by Reuters, almost equalling the record trading profit in 2019 despite the collapse in oil demand caused by the pandemic. Trading revenue for majors such as BP and rival Royal Dutch/Shell shielded them from the full impact of

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,

State oil firms risk wasting $400 billion as energy transition speeds up

February 9, 2021

Reuters LONDON – National oil companies (NOCs) risk squandering $400 billion on expensive oil and gas projects over the next decade that may only break even if the world fails to meet the Paris climate goals, a non-governmental organisation said on Tuesday. In a new report called Risky Bet, the Natural Resource Governance Institute (NRGI) estimated that NOCs could invest

Germany agrees amended energy law to boost renewables

December 14, 2020

Reuters BERLIN – Germany’s ruling coalition has agreed changes to a new energy law that aims to boost renewable power and help the country meet its goal of producing 65% of its electricity from green sources by 2030, the environment minister said on Monday. The energy law is now expected to go before a parliamentary committee on Tuesday ahead of

Petrobras, Equinor stake out opposite renewables strategies in Brazil

December 1, 2020

Reuters RIO DE JANEIRO – Petrobras does not expect to invest in renewables over the next five years, Chief Executive Roberto Castello Branco said on Tuesday, adding that the Brazilian state-controlled company will instead put money into technologies to reduce the carbon footprint of its oil extraction activities. Castello Branco has repeatedly said Petroleo Brasileiro SA, as the company is

Australia state unveils $23 billion energy roadmap in renewables push

November 9, 2020

Reuters SYDNEY – Australia’s New South Wales (NSW) state said on Monday it would shift toward renewable energy from coal and aimed to lure A$32 billion ($23.3 billion) of private investment into the sector in the next decade. Australia’s most populous state said it would cut red tape and speed up approvals for businesses to invest in renewable energy projects,

Airbus announces concept designs for zero-emission, hydrogen-powered airplanes

September 21, 2020

CNBC European aerospace giant Airbus released details of three hydrogen-fueled concept planes on Monday, saying they could enter service by the year 2035. The designs, named ZEROe, differ in size and style, but are all meant to be zero-emission, using hydrogen as their primary source of power. They include an aircraft that would use turbofan engines and carry between 120 and 200

Pandemic’s ‘great reset’ pushes energy firms toward renewables, hydrogen: executives

September 15, 2020

Reuters SINGAPORE – The economic trauma caused by the coronavirus pandemic has pushed energy companies to step-up investment in renewables, hydrogen and other low carbon alternatives, but fossil fuels will be their dominant business for the foreseeable future, industry executives said. Reeling from the onset of the pandemic, global oil consumption shrank by more than 20% in the second quarter

Fossil fuels account for the largest share of U.S. energy production and consumption

September 14, 2020

EIA Fossil fuels, or energy sources formed in the Earth’s crust from decayed organic material, including petroleum, natural gas, and coal, continue to account for the largest share of energy production and consumption in the United States. In 2019, 80% of domestic energy production was from fossil fuels, and 80% of domestic energy consumption originated from fossil fuels. The U.S.

Global energy transition already well underway: Kemp

September 11, 2020

Reuters LONDON – Policymakers still tend to talk about the global energy transition in the future tense, as something that might or will happen in the next few decades, but the transition is already well underway and shows signs of accelerating. Global energy consumption has already been shifting from a mid-20th century system dominated by coal and oil to one

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