Almost half the world's economic output is generated in areas where there are now moves to cut carbon emissions to net zero by 2050, analysis suggests.
BP’s UK offshore business remains “vital” to the group, its North Sea boss said at the end of a momentous week for the supermajor, which set out ambitious emissions goals.
Oil and Gas UK (OGUK) will this week outline the details of its response to the UK and Scottish Government’s net zero targets.
A few months ago I approached Sainsbury's with the following suggestion:
Hundreds of thousands of people will need to be recruited into the energy sector to reach the goal to cut emissions to net zero by 2050, a report for National Grid shows.
Sainsbury's plans to invest £1 billion towards making its operations "net zero" by 2040 - a decade earlier than the UK's legal goal - it has announced.
People are not aware of the changes that will be needed to cut the UK's greenhouse gas emissions to net zero by 2050, polling suggests.
Aberdeen ‘energy transition park’ and net zero should ‘feature heavily’ in oil sector deal – OGA boss
Proposals for an Aberdeen energy transition park, along with a host of net zero solutions, should be at the “heart” of an incoming sector deal, according to the head of the Oil and Gas Authority (OGA).
Equinor's newly announced decarbonisation plans are "misleading, yet promising", according to the leader of a oil and gas shareholder activist group.
The biggest change I have seen in 2019 is the move by the oil and gas industry towards a net zero future. There have been many factors that have influenced this change, from the social public push through to the active and engaged conversation the industry has been having around Roadmap 2035 (what we will look like in 2035).
As 2019 comes to a close, the UK energy sector trade body has produced a video highlighting some of the main developments for the industry over the last year.
Global energy demand has been rising inexorably for well over 30 years – from around 8 billion tonnes of oil equivalent in the early 1990s to nearly 14 billion tonnes of oil equivalent today. The rate of increase was 2-3% per annum until 2000 but accelerated to nearer 5% per annum since then as large populations in China and India got wealthier.
The North Sea oil industry has been in transition for some years following the collapse of oil prices in late 2014. Large cost reductions have been painfully achieved. Production has increased due to a combination of new fields coming on stream plus a substantial increase in production efficiency to around 75%. But new field investment expenditure has fallen dramatically since 2015 and exploration remains at a relatively low level reflecting principally the maturity of the province as well as oil and gas prices far below their pre-2015 levels.
2019 has been a year where the energy transition has very much come to the fore.
Oil and gas giant Shell has announced the agreement of a new $10 billion revolving credit facility to help progress the firm towards its net carbon footprint.
The following figure is from the Government produced ‘UK greenhouse gas (GHG) emissions national statistics 1990 – 2017’. The bar chart shows the main sectors contributing to GHG emissions.
Creating the "world's first net zero carbon industrial cluster" could help protect thousands of jobs and make a major impact to cutting emissions, its backers said.
If necessity is the mother of invention, the Committee on Climate Change’s “Net Zero – The UK’s contribution to stopping global warming” report should spur a jump-start for the carbon capture, usage and storage (CCUS) industry in the UK.
The Oil & Gas Technology Centre is planning to set up a Net Zero Solution Centre with a view to making the UK Continental Shelf the first net zero oil & gas basin globally.
In June this year, the UK became the world’s first major economy to commit to a target of net zero emissions by 2050.
European Union leaders plan to underscore the importance of the fight against climate change when they meet next week, though their words will stop short of a mandate to move toward zeroing out fossil fuel emissions.
The UK is to set a legally binding target to end its contribution to climate change by 2050, Prime Minister Theresa May has announced.