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(Reuters) - Exxon Mobil Corp (XOM.N) on Monday disclosed a sweeping restructuring of its global operations that will combine its refining and chemicals businesses into one, and put its energy transition business on the same footing as its other operations. The broad restructuring marks its latest cost-cutting effort after activist investors seeking to boost returns and address... Continue Reading →
Oil and gas major Shell has officially changed its name to Shell plc, after deciding to simplify its share structure, move the headquarters from the Netherlands to the UK and, as a result, remove the Royal Dutch designation from its name. The energy major on Friday confirmed its name had changed from Royal Dutch Shell... Continue Reading →
(Reuters) - The transition to clean energy required to prevent temperatures from rising swiftly could shave 2% off global GDP by 2050 but is likely recoverable before the end of the century, a report by natural resources consultancy Wood Mackenzie said on Thursday. While investments in technologies like solar and wind farms, advanced batteries will... Continue Reading →
(PN) Equipment capable of separating CO2-rich gas from oil at the bottom of the sea. Petrobras, operator of the Libra consortium, started selecting suppliers to execute the project, build, install and carry out HISEP® tests, a technology patented by the company that aims to separate and reinject, even at the bottom of the sea, the... Continue Reading →
(epbr) The government of Ceara signed a memorandum of understanding (MoU) with BP for the potential implementation of a natural gas hub in Porto do Pecem. According to the company's president in Brazil, Mario Lindenhayn, the hub may have an installed capacity of around 2.2 GW and generate around 5,000 jobs during construction. -- “It... Continue Reading →
(OM) Finally catching up with its rivals, U.S. oil and gas giant ExxonMobil has revealed its ambition to achieve net-zero greenhouse gas emissions for operated assets by 2050, backed by a comprehensive approach to develop detailed emission-reduction roadmaps for major facilities and assets. The net-zero ambition is contained in the company’s Advancing Climate Solutions – 2022... Continue Reading →
(TN) Platforms P-66, P-70 and P-77, located in the Tupi, Atapu and Búzios fields, respectively, started to operate with minimal flaring of gas, which starts to occur only in exceptional safety situations, reducing the emission of greenhouse gases (GHG). The flare is the equipment that has the function of burning the gas not used in... Continue Reading →
Swedish floating wind tech firm Hexicon said Friday its Twin Hub stepping stone project had been awarded a marine license for the installation of an offshore floating wind demonstrator in the Celtic Sea. "Twin Hub floating demonstrator project in the Celtic Sea has now been awarded a marine licence, for a renewable energy test site... Continue Reading →
Equinor and BP on Friday announced the finalization of the Purchase and Sale Agreements (PSAs) with the New York State Energy Research and Development Authority (NYSERDA), for Empire Wind 2 and Beacon Wind 1 offshore wind projects. Empire Wind is located 15-30 miles southeast of Long Island and spans 80,000 acres, with water depths of... Continue Reading →
(Reuters) Europe's Big Oil companies are planning to spend their windfall from high energy prices on becoming Small Oil.Surging oil and gas prices in 2021 delivered billions of dollars in profits to top oil companies, in stark contrast to the previous year when energy prices collapsed as the coronavirus pandemic hit travel and economic activity.Typically,... Continue Reading →
