Tuesday, December 24, 2024
Renewables growth won’t go away under Trump- oil and gas 360

Renewables growth won’t go away under Trump

(Oil Price) – The rise of data centers and their quest for renewable energy to power AI technology will boost the growth of renewables even under President Donald Trump, the Americas head of Japan’s biggest bank, Mitsubishi UFJ Financial Group, told Reuters.   “The new administration will be more constructive on fossil fuels, but that doesn’t mean renewables go away,” Kevin Cronin,

IEA projects big renewables growth through 2030- oil and gas 360

IEA projects big renewables growth through 2030

(Oil & Gas 360) – The International Energy Administration (IEA) is forecasting 70% growth in global renewable capacity additions by the end of the decade. The projected momentum follows a record year for capacity growth in 2023. Solar and wind are expected to generate 95% of that capacity growth due to their growing economic attractiveness, according to the agency. The report

BP cuts jobs as supermajor scales back EV charging unit- oil and gas 360

BP cuts jobs as supermajor scales back EV charging unit

Oil Price BP has cut over a tenth of its workforce in its EV charging business, BP Pulse, as the supermajor is downsizing the division and retreating from several countries to focus on just four key markets, Reuters reported on Monday, quoting sources at the company. BP has cut more than 100 out of BP Pulse’s 900 jobs, but many of the

Netherlands’ $900 billion pension funds ready to invest big in renewables- oil and gas 360

Netherlands’ $900 billion pension funds ready to invest big in renewables

Oil Price The Netherlands’ five largest pension funds have said they are willing to invest billions in the country’s renewable energy sector and the electricity grid. The funds, with a combined 900 billion euros ($975 billion) in assets, have offered to help with finances and expertise in the nation’s electric grid expansion and sustainable heating projects. “We want to make a bigger

Shell considers slowing its carbon emissions cuts- oil and gas 360

Shell considers slowing its carbon emissions cuts

Yahoo Finance UK-based supermajor Shell has been updating its strategy on climate targets and could announce a slower pace of its emissions reductions later this week, anonymous sources with knowledge of the discussions have told Bloomberg. Shell is set to announce an update to its energy transition strategy on Thursday, March 14. The oil and gas major has been considering slowing

Latin America: The next chapter in China’s global economic strategy- oil and gas 360

Latin America: The next chapter in China’s global economic strategy

Oil Price For decades, China has been a key driver of global economic growth thanks to an economy that managed to maintain blistering growth for what seemed like forever. China’s economy ballooned from $1.2 trillion in 2000 to nearly $18 trillion in 2021, good for a nearly 10% annual clip ever since Beijing embarked on economic reforms in 1978. The

U.S. says Chinese minerals control will make energy security more complex - oil and gas 360

U.S. says Chinese minerals control will make energy security more complex

Oil Price China’s dominance in critical minerals mining and processing will make global energy security in the energy transition “infinitely more complex,” U.S. Secretary of Energy Jennifer Granholm said at a conference on Thursday.   “The fuel of this energy transition — critical minerals — is going to make global energy security infinitely more complex and infinitely more important over

Renewables set to benefit from big oil's renewed focus on oil and gas - oil and gas 360

Renewables set to benefit from big oil’s renewed focus on oil and gas

Oil Price Environmentalists and critics are having a field day after a second international energy major scaled back its renewable development ambitions in the space of just a few months. But Big Oil’s renewed focus on profitable projects in oil and gas and the new, selective approach to wind, solar, and other clean energy solutions with the best economics could

Energy CEOs hit mute button on ESG, hinting at fading interest-oil and gas 360

Energy CEOs hit mute button on ESG, hinting at fading interest

World Oil (Bloomberg) — The top bosses of US oil and gas companies are speaking less and less about climate and carbon emissions, a signal that the industry’s public focus on ESG over the past couple of years may be fading.     That, at least, is according to a Bloomberg analysis of quarterly conference calls held by 172 American oil and gas companies. The

Oman's Energy Minister: It's foolish to assume renewables can meet global demand- oil and gas 360

Oman’s Energy Minister: It’s foolish to assume renewables can meet global demand

Oil Price The world’s energy needs will only grow, and it would be “foolish” to think that rising demand can be met with renewables alone, Oman’s Energy Minister Salim Al-Aufi told CNBC on Tuesday. Energy needs to be affordable and this is the first pillar of energy supply when the energy transition is concerned, the minister said. Oman’s official also defended, again,

Energy CEO hits at 'energy ignorance' driving current policy: 'Little hope of ending the crisis anytime soon'- oil and gas 360

Energy CEO hits at ‘energy ignorance’ driving current policy: ‘Little hope of ending the crisis anytime soon’

Fox Business The ongoing energy crisis was preceded by a decade of red flags that went mostly ignored and global plans to transition from conventional energy sources to renewable options failed to address key issues, according to a chief executive of the world’s largest oil producer. Addressing the Schlumberger Digital Forum 2022 in Switzerland, Aramco CEO Amin Nasser said a lower energy supply is