Norway’s Equinor must lift its climate ambitions, minority investors say

(Reuters) Norwegian energy major Equinor (EQNR.OL) must set tougher near-term targets for reducing the company's climate impact when it presents a new strategy next week, minority shareholders said. Chief Executive Anders Opedal, who took the helm late last year with a promise to speed up the state-controlled firm's renewable investments, also faces demands for climate action from... Continue Reading →

Sinopec to launch first green hydrogen project in 2022

(Reuters) Chinese state-controlled oil giant Sinopec, said it expects to launch its first green hydrogen project, a zero-carbon fuel generated from renewable energy sources, in the Inner Mongolia region in 2022. The company, China's largest hydrogen producer, also said it will focus on fossil fuel-based hydrogen output over the next five years and set up... Continue Reading →

Subsea sector urged to act now to profit from energy transition

The subsea industry must act now to capitalize on the energy transition as the road to net zero is already underway and companies need to meet the change of pace required, according to Tom Heggarty, principal analyst in Wood Mackenzie’s Energy Transition Practice. Opportunities include facilitating the growth of the offshore wind market by supporting the installation of turbines, the... Continue Reading →

Eni to splash €5.7 bln by 2024 in carbon-neutrality push

Italian oil and gas company Eni has released its Eni for 2020 sustainability report, outlining the company’s path to face the global challenges. The company noted its total amount for investments in decarbonization, circular economy and renewables and expenditure on research and development is equal to €5.7 billion in its 2021-24 plan. Eni reminded that The 2030 Agenda... Continue Reading →

Renewables and grids support Iberdrola earnings and outlook

(Reuters) Europe's biggest wind power group Iberdrola (IBE.MC) reaffirmed its 2021 growth outlook on Wednesday after reporting rising quarterly earnings supported by rapid building of renewable energy plants and investments in networks. Buoyed by a global shift towards the low-carbon energy sources it has been investing in for two decades, northern Spain-based Iberdrola plans to almost triple... Continue Reading →

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