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(OE) As the energy transition accelerates, upstream companies are under pressure to decarbonize, and this is likely to intensify. Governments, investors, financial markets, society, along with other stakeholders are pushing for change. Companies need to define their strategy and act to future-proof their business and retain their social licence to operate. There are strategic advantages... Continue Reading →
(Reuters) - BP's trading team made at least $500 million in the third quarter of 2021, two sources with knowledge of the company's trading results said, as the energy major benefitted from a gas crisis that has left consumers and industries smarting. Natural gas and power prices soared to an all-time high in Europe and... Continue Reading →
ADC Energy, an Aberdeen-based offshore rig inspection firm, has announced the completion of a trial with "a major rig owner" that found that an upgrade to Dynamically Positioned (DP) rigs power systems can reduce carbon emissions by nearly 5,000 tonnes per year. "Typical DP drilling units operate in HV split-bus, or open-bus, configuration with the... Continue Reading →
(Reuters) - Setting the global average price of carbon per tonne significantly higher at $100 or more is necessary right away to incentivise net zero emissions by 2050, according to a Reuters poll of climate economists. Carbon pricing has come to the forefront of policy measures seen as ways to reduce emissions to a level... Continue Reading →
Petrobras - In 3Q21, we continued to operate safely and with a solid performance, still with a differentiated regime and special protocols due to the pandemic scenario, but with a gradual increase in the number of people on board. The average production of oil, LGN and natural gas reached 2.83 MMboed, 1.2% above 2Q21, mainly... Continue Reading →
(OE) By David Linden Head of Energy Transition at Westwood Global Energy Group If we want to reach net zero by 2050, there is an increasingly high risk that some of the oil and gas infrastructure investments (i.e. in platforms, pipelines, processors, storage sites etc) made today will result in stranded assets. In other words,... Continue Reading →
(Reuters) - Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency (IEA) said on Wednesday. "The world is not investing enough to meet its future energy needs ... transition‐related spending is... Continue Reading →
Qatar changed the name of its state-owned oil and gas firm to Qatar Energy from Qatar Petroleum to reflect what it said was a broader strategy but said it had no plans to sell assets to raise funds as other Gulf state producers have. "We have plenty of cash," Chief Executive Saad al-Kaabi said on... Continue Reading →
(Reuters) - The use of low-carbon hydrogen and ammonia in fossil fuel power plants can play a key role in maintaining energy security during the transition to greener power, the head of the International Energy Agency (IEA) told a virtual conference held by Japan's industry ministry on Wednesday. IEA chief Fatih Birol told the International... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) plans to buy back $1.5 billion of its shares in the fourth quarter and boost its investment in renewable energy with the help of high oil prices, the French energy major said on Tuesday. "TotalEnergies is confident in its ability to combine energy transition and shareholder return, thus creating long-term shareholder value," the... Continue Reading →
Brazil Energy Insight 