climate change – Page 18

Analysis: CNOOC needs to double down on drilling and deals in carbon-cutting gas pivot

March 12, 2021

Reuters SINGAPORE/BEIJING – A rapid rise in offshore drilling and deepwater gas extraction may seem an unlikely path to lower emissions, but are central planks of Chinese energy major CNOOC Ltd’s plan to help hit Beijing’s climate goals. While global peers like BP, Royal Dutch Shell have announced cuts in hydrocarbon output and huge renewable energy investments to cut emissions,

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

With Covid relief passed, Biden prepares to stake his presidency and Democratic majorities on infrastructure

March 10, 2021

CNBC With President Joe Biden’s Covid-19 stimulus package just a signature away from becoming law, the White House now turns its attention to assembling and passing a once-in-a-generation infrastructure bill. Source: CNBC It’s not clear what the legislation will include. Yet the new president has all but guaranteed a spectacular infrastructure overhaul as his next policy priority — and his legacy is

Global wind turbine commissioning jumps by record 59%: research

March 10, 2021

Reuters LONDON – The commissioning of new wind turbines globally surged by a record 59% to more than 96 gigawatts (GW) of capacity last year despite the COVID-19 pandemic, research by BloombergNEF showed on Wednesday. Developers commissioned 96.3 GW of wind turbines in 2020, compared with 60.7 GW the previous year, the majority of which were onshore installations. Meanwhile, the

Exclusive: Eni could list minority stake in new retail-renewable business – source

March 8, 2021

Reuters LONDON/MILAN – Energy group Eni is looking to spin off its new retail and renewable energy business next year and could list a minority stake to raise money to bankroll the company’s energy transition, an industry source close to the matter said. The business, which includes renewable power generation and energy sales to customers, could be worth in the

CEO of commodities giant BHP: Global economic outlook ‘stronger than we were expecting’

March 4, 2021

CNBC Mike Henry stepped into his role as CEO of Australia-based BHP, the world’s largest publicly listed mining company, just a few weeks before the coronavirus pandemic triggered lockdowns across the globe. Henry is a proponent for health and safety, strong value and a low environmental footprint. His goals for BHP met the headwind of Covid-19 as it cast an uncertain

Natural gas can help solve climate change, industry reminds policymakers

March 3, 2021

Reuters The energy industry wants policy makers to remember that natural gas can and should be part of the solution in solving climate change, executives said at a conference on Tuesday. “The most important thing to continue to impress upon the policymakers is natural gas can and should be a big part of the climate change solutions,” Michele Harradence, SVP

Energy firms bet on hydrogen boom, but payday far away

March 3, 2021

Reuters Governments and energy companies are placing large bets on clean hydrogen playing a leading role in efforts to lower greenhouse gas emissions, but its future uses and costs are highly uncertain. “Without hydrogen by 2050 we cannot aim to be a net zero (carbon) economy,” Royal Dutch Shell CEO Ben van Beurden told the CERAWeek online conference this week.

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,

Dow exec sees climate change as opportunity for petchem innovation

February 25, 2021

Reuters SINGAPORE – Dow Inc is adjusting its carbon footprint and product slate to adapt to climate change and tap evolving consumption trends tied to the global energy transition, a senior executive said this week. Dow has pledged to become carbon neutral by 2050 by boosting the use of renewable energy, such as wind power in the southern United States,

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

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