In a sign of changing times, a U.S. oil refining company is converting one of its plants into a producer of clean fuel.
Former Bank of England (BoE) governor Mark Carney has said Covid-19 is likely to move the global energy transition “more to centre-stage” for investors.
For the previous few centuries, humans have been burning through fossil fuel reserves with somewhat reckless abandon. Yet in the 2020s, and based on extensive peer-reviewed research, we make five big and bold predictions linked to the future of energy systems and the social infrastructures that need them. The full report call be accessed via Reuters Events Energy Transition News and Content Hub, via the Energy Transition Report & Whitepapers section.
Energy giant BP has told shareholders its net zero transition is “deepened and accelerated” by the Covid-19 pandemic, but kept quiet on the fine print.
One of Scotland’s top economists has said the Covid-19 crisis may usher in a “window of opportunity” to support the north-east energy transition.
Scottish energy firm SSE has written to the prime minister with a “greenprint” to rebuild the UK economy in the wake of the Covid-19 pandemic.
Polish oil refiner PKN Orlen’s announcement that it will only complete the 1 GW Ostroleka power plant if it is fuelled by gas and not coal signals that Poland’s energy transition is underway.
Elevator, the Aberdeen-based business support organisation, said yesterday it had won a “major” contract to help Scotland achieve its net zero carbon ambitions.
The energy world is riven by many contradictions that are making the climate change-driven transition to a low-carbon world difficult.
In these difficult times, it is challenging to manage day-to-day business as well as thinking to the future. Clearly, we have seen rapid and significant changes to business operations and Aberdeen Renewable Energy Group (Areg) members and others are under greater pressure than ever to deliver results.
There has been a lot of discussion in the media recently about the prospects that the “great plague of 2020” will inevitably lead to fundamental changes in both our economy and our society.
Boris Johnson has “assured” MPs that the UK Government is working on a sector deal for the crisis-hit oil and gas industry.
We are proud to be a part of an industry that has evolved considerably over the last 90 years, delivering real economic growth to the UK and worldwide economies whilst making an undeniably positive impact on the environment. As technology has evolved our knowledge, expertise and work ethic continues to play a vital role in the success of metal recycling.
As an industry, as businesses and, most importantly, as people – this is an incredibly tough time. No matter where you are in the world, or what you do, we have all been impacted by the coronavirus in some way.
According to the International Energy Agency, natural gas currently accounts for 23% of global primary energy demand and nearly a quarter of electricity generation.
An oil refinery in northern Germany wants to turn excess wind power into green hydrogen to replace natural gas and produce synthetic fuels for aviation.
Oil prices have plunged to record lows this past week. While one particular benchmark, West Texas Intermediate, went below minus $40 per barrel a week ago, that is headline grabbing but not the primary concern.
Italian energy services firm Saipem said its outlook is “good” but the recent deterioration of the oil market sunk the company to a loss in the first quarter of the year.
In the age of the Great Energy Transition, oil and gas companies face a dual challenge; to reduce operational emissions whilst keeping up with growing energy demand they will need to increase both asset performance and lifetime. With increasing numbers of incumbent O&G players making net-zero commitments, the sector will increasingly be judged both by their cost per barrel / cubic feet AND their carbon footprint per barrel.
A resilience package for the North Sea oil and gas sector is “under construction” to combat both Covid-19 and oil price-related concerns, according to an Oil and Gas UK (OGUK) director.
It has been encouraging to witness many oil and gas majors sign up to the energy transition and net zero. Repsol, BP, Total, Shell and Equinor have all outlined their strategies.
Global oil demand will plunge to its lowest level in 25-years this month, in what the International Energy Agency described as a “staggering” wipeout of nearly a decade’s growth.
New investment in the energy transition can be a “crucial pathway” out of the latest downturn for North Sea firms, according to the head of the Oil and Gas Authority (OGA).
A senior audit and assurance partner at Deloitte said the downturn could be a “catalyst” for change, but oil firms are first taking steps to survive the “uncharted waters”.
As 2020 cranked into gear, there was broadly an air of modest optimism across the UK Continental Shelf (UKCS).