Shell (LSE:RDSA) will increase emissions by 4.4% by 2030, according to new research from Global Climate Insights (GCI), contravening a court order to reduce by 45%.
ExxonMobil’s (NYSE:XOM) board of directors is debating whether to continue with several major oil and gas projects, that have high projected emissions profiles, as the supermajor reconsiders its investment strategy in a fast-changing energy landscape, the WSJ reported.
For decades now oil and gas companies have been focused on making the decisions that matter when it comes to safely maximising production from their assets. But now there is a pressing need to also minimise the environmental impact of those operations. And the pressure to cut emissions is mounting by the day.
As we approach the COP26 Climate Conference which begins in Glasgow on 31st October, it feels as if the oil and gas industry has never been more in the political spotlight.
Increasing pressure is being put on upstream operators to decarbonise their operations, from investors, the regulator and the wider public. But while North Sea energy companies are moving to cut emissions, they still have challenging assets on their hands.
Australia’s Santos today announced that it has signed a memorandum of understanding (MoU) with East Timor’s regulator ANPM to progress a carbon capture and storage (CCS) project, estimated to cost $1.6 billion, at the ageing Bayu Undan field in the Timor Sea. But low returns and high complexity threaten the viability of the proposed scheme.
Liquefied natural gas (LNG) shipments tagged “carbon neutral” are gaining popularity among Asian buyers, despite criticism that the offsets used to justify the label don’t actually cancel out planet-warming emissions generated by the fossil fuel.
The energy transition has brought an exciting shake-up to the oil and gas industry, with companies aiming to significantly reduce their emissions footprint as soon as possible to ensure compliance with government and regulatory bodies.
Neptune Energy has announced the start of its first ‘walk to work’ campaign at the Cygnus field in the North Sea.
Over the past year or so, liquefied natural gas (LNG) producers, as well as buyers in North Asia, particularly Japan, have been quick to announce their involvement with so called ‘carbon-neutral LNG’ cargoes. However, some LNG buyers at the Future Energy Asia conference questioned whether LNG can really be carbon neutral.
China’s newest oil refiners are thriving by aligning themselves with President Xi Jinping’s vision, expanding even as their older rivals and several other private businesses have been reined in by Beijing.
It might seem contradictory to invest in carbon-emitting polluters while pledging to be an eco-trailblazer, but that’s exactly what Singapore state investor Temasek Holdings, which owns shares in two of the world’s largest rig builders, is attempting to do.
Harbour Energy has signed up to the World Bank’s ‘Zero Routine Flaring by 2030’ initiative.
Malaysia’s Petronas, which has yet to make a firm carbon-neutral pledge, will deploy solar energy at the group's assets across Malaysia to boost efficiency and cut carbon emissions as part of its sustainability agenda and “aspiration” of Net Zero Carbon Emissions by 2050 (NZCE 2050).
BP’s chief executive has raised concerns that the dramatic fall in carbon emissions seen last year may be “short lived”.
Shell has supplied Osaka Gas with its first shipment of carbon neutral liquefied natural gas (LNG) as the Japanese company strives to meet its 2050 net-zero goal.
China’s Sinopec has started building the country’s first large-scale carbon capture utilisation and storage (CCUS) project as part of its target to be carbon-neutral by 2050.
The Chevron-led Gorgon LNG venture in Australia will proceed with a $4 billion investment for the Jansz-Io compression development that will keep customers in Asia supplied with gas for decades. Significantly, the subsea compression project, needed to move the gas from the deep seas to shore, will be the first of its kind outside of Norway.
Carbon capture and storage (CCS) is seen as an essential requirement by the oil and gas industry for it to meet the targets of the Paris Agreement, however the only way it will become commercially viable is if companies collaborate to create shared-CCS hubs, according to Wood Mackenzie.
China’s long-awaited national carbon market is set to miss a government target to begin by the end of June, a new set-back to plans to create the world’s largest emissions trading system.
North Sea operators have launched a plan to slash methane emissions, one of the world’s most potent greenhouse gases.
The Premier of Western Australia, Mark McGowan, told the Australian Petroleum Production & Exploration Association (APPEA) conference on Tuesday that the state’s market share in renewable hydrogen exports in 2030 should be similar to its share of liquefied natural gas (LNG) exports today.
Andrew McConville, chief Executive of the Australian Petroleum Production & Exploration Association (APPEA), told delegates at the opening of the APPEA 2021 conference in Perth today that natural gas will play a vital role in reducing Australia’s and Asia’s emissions.
Australia’s Woodside has set new interim and long-term targets to hit net zero greenhouse gas emissions by 2050 at its Pluto liquefied natural gas (LNG) export project.
The Indonesian Ministry of Finance has announced plans to introduce carbon pricing in an effort to help finance clean energy projects and boost tax revenues, as well as cut emissions, in Southeast Asia’s largest economy.