energy transition – Page 4

A coming copper shortage could derail the energy transition, report finds

July 14, 2022

CNBC An all-electric future depends heavily on copper, and looming supply shortfalls could hamper nations’ goals of reaching net-zero emissions by 2050, according to a new report from S&P Global. Unless significant new supply becomes available, climate goals will be “short-circuited and remain out of reach,” the report says. Electric vehicles, solar and wind power, and batteries for energy

Energy transition still means billions in fossil-fuel investment

April 21, 2022

World Oil (Bloomberg) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment. The U.S. and European countries are planning liquefied natural gas terminals that will be in service for decades.

Shell’s board of directors sued for ‘failing to properly prepare’ for the energy transition

March 15, 2022

CNBC Shell’s board is being sued for failing to prepare the multinational oil and gas company for the transition away from fossil fuels. Environmental law firm ClientEarth, a Shell shareholder, said Tuesday that it had notified Shell of its claim against the company’s 13 executive and non-executive directors. It argues the board’s failure to implement a climate strategy that truly aligns with

Russia warns of power price spike if energy transition is hasty

February 2, 2022

Nasdaq MOSCOW, Feb 2 – A rushed transition away from fossil fuels risks driving electricity prices higher, a senior Russian official said on Wednesday, responding to German government comments that an EU carbon tax may make renewables more attractive in Russia. Russian Deputy Energy Minister Pavel Snikkars said Russia was ready to support global efforts against the negative consequences of

Aramco CEO says energy transition “not going smoothly”

January 27, 2022

Nasdaq BEIRUT, Jan 27 – Saudi Aramco Chief Executive Amin Nasser said on Thursday the energy transition “was not going smoothly”, pointing to a resurgence in demand for oil and gas as the global economy recovers while supplies lag on the back of falling investment. “We all agree that to move towards a sustainable energy future a smooth energy transition

Saudis foresee oil price spikes from energy transition efforts

December 14, 2021

World Oil (Bloomberg) –Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. “We have very serious concerns that the world could run short of energy if we are not careful in managing the transition,” Mohammed Al-Jadaan said. “In Saudi Arabia, we have an interest in

OPEC sec gen says energy transition can not exclude fossil fuels

December 8, 2021

Nasdaq HOUSTON, Dec 8 – The COP 26 climate change conference largely excluded the oil and gas industry, OPEC Secretary General Mohammad Barkindo told a gathering of oil officials on Wednesday, arguing producers need to be included in planning for a transition to cleaner fuels. Speaking at the World Petroleum Congress, Barkindo took up the themes of several earlier speakers

Larry Fink fears for the energy transition, warns of massive ‘market arbitrage’

November 2, 2021

CNBC LONDON — Larry Fink, chair and CEO of BlackRock, says the so-called energy transition toward greener power has to be radically rethought and blasted oil firms for selling out to private companies. Speaking at the Green Horizon Summit chaired by CNBC’s Julianna Tatelbaum during the COP26 climate conference in Glasgow, Scotland, Fink praised public companies for increasing their reporting of

Today’s global energy crisis is just the first in the “clean power” era

October 5, 2021

World Oil (Bloomberg) –The world is living through the first major energy crisis of the clean-power transition. It won’t be the last. The shortages jolting natural gas and electricity markets from the UK to China are unfolding just as demand roars back from the pandemic. But the planet has faced volatile energy markets and supply squeezes for decades. What’s different

OPEC and major oil companies each see a different path to energy transition

September 30, 2021

World Oil WASHINGTON (Bloomberg) – Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries. They offer quite different visions of the world 25 years from now. The European energy major sees a future driven by technology and policy; the cartel presents a vision that

Baker Hughes CEO lays out ‘hard truths’ behind the energy transition as gas prices surge

September 22, 2021

CNBC The CEO of energy technology firm Baker Hughes has outlined what he feels are key points related to the energy transition amid deepening concern about rising gas prices and the knock-on effects this could have in the months ahead. In an interview with CNBC’s Dan Murphy at the Gastech conference in Dubai, United Arab Emirates earlier this week, Lorenzo Simonelli was

Shell shareholders increase pressure for further climate action

May 18, 2021

Reuters LONDON – Royal Dutch Shell shareholders overwhelmingly backed the company’s energy transition strategy on Tuesday, but increased support for a second climate resolution filed by an activist group pointed to growing pressure to tackle climate change. A non-binding resolution submitted by Shell with the support of a large group of investors to vote on its recently unveiled climate strategy

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