renewables – Page 2 – Oil & Gas 360

OTC 2022: Reaching net zero will require more investment in oil, gas and renewables

May 4, 2022

World Oil The pandemic had a unique impact on the energy industry and will pave the path of the energy transition on its way to net zero emissions, Society of Petroleum Engineers President Kamel Ben-Naceur said during a keynote presentation at the Offshore Technology Conference on Monday. The pandemic’s impacts. The Covid-19 pandemic brought the biggest one-year drop in oil demand

Shell says break-up of group would not work in real life

October 28, 2021

Reuters LONDON (Reuters) – Breaking up oil major Royal Dutch Shell into separate fossil fuels and renewables companies might be financially compelling but would not work in real life, finance chief Jessica Uhl said on Thursday. Activist hedge fund Third Point, which has built a large stake in Shell, on Wednesday called for the oil major to split into multiple

Oil billionaire schools Biden on gas prices: ‘It’s all about economics 101’

October 26, 2021

Fox Business Continental Resources Chairman and founder Harold Hamm criticized Biden’s energy plan as the administration’s efforts to tackle climate change conjures up more challenges for the country. “You know it’s all about economics 101 and it doesn’t have to be this way,” the oil billionaire said during an interview on FOX Business’ “Mornings with Maria.” Last year, Hamm warned the price of gasoline would surge under

Wind turbine giant Siemens Gamesa lays out plan to drive down cost of ‘green’ hydrogen

June 10, 2021

CNBC So-called “green” hydrogen production using onshore wind turbines could achieve price parity with fossil-based hydrogen by the year 2030, according to a white paper from Siemens Gamesa Renewable Energy. In a statement on Wednesday the firm — a major player in wind turbines — also said that green hydrogen produced using wind from the offshore sector could achieve price parity

Dubai launches region’s ‘first industrial scale’ green hydrogen plant

May 20, 2021

CNBC A Dubai-based project described as the “first industrial scale, solar-driven green hydrogen facility in the Middle East and North Africa” has been inaugurated, with those behind the development hoping it will help catalyze the region’s renewable energy sector. In a statement Wednesday, Siemens Energy said power for the pilot project — a collaboration with the Dubai Electricity and Water Authority

Gazprom shrugs off renewables with prediction of rising gas demand

May 18, 2021

Nasdaq MOSCOW, May 18 (Reuters) – Russian gas giant Gazprom GAZP.MM expects demand for natural gas to grow in the coming decades and for it to play a bigger role in energy consumption than renewable sources and hydrogen, a company official said on Tuesday. The forecasts runs counter to a global trend for an energy transition from fossil fuels to the use of environment-friendly

Analysis: Gas faces existential crisis in climate wary Europe- oil and gas 360

Factbox: Getting out of gas – the sold and scrapped projects

May 14, 2021

Reuters LONDON – Natural gas, long touted as a transition fuel by policymakers and industry, is losing its appeal for some producers in Europe as they try to reach net-zero emissions. Below are examples of projects that have been dropped, gas asset sales and companies shifting focus. SOLD AND SCRAPPED Earlier this year, Drax Group, which aims to become carbon

Big Oil and its green ambitions could be about to get a serious reality check

May 11, 2021

CNBC LONDON — The month of May promises to be a ground-breaking one for Big Oil. Oil and gas majors on both sides of the Atlantic are preparing to hold their annual shareholder meetings in the coming weeks. It comes at a time when the world’s largest corporate emitters are under immense pressure to set short, medium and long-term emissions

Farmers struggle to break into booming carbon-credit market

April 28, 2021

Reuters When Microsoft Corp made a massive purchase of carbon credits in January, it turned to a relatively new source: farmers who plant crops meant to trap carbon in the soil. The credits are financial instruments generated by projects that reduce or avoid the release of greenhouse gases, such as solar farms or tree-plantings. The projects’ owners can sell the

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

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