On many levels, 2020 was a pretty horrific year, “a year like no other”, according to Mike Beveridge, managing director of energy investment firm Simmons Energy, a division of Piper Sandler. It’s easy to see why. A dip into a negative WTI contract prices, Brent troughing at $23/b – the indicators were all pretty grim.... Continue Reading →
OPT’s PowerBuoy Deployed Offshore Chile
Ocean Power Technologies, Inc. (OPT) said Thursday that Enel Green Power (EGP) has deployed OPT's PB3 PowerBuoy off the coast of Las Cruces, Chile to support the country’s transition to clean energy. OPT’s PB3 PowerBuoy converts wave motion into electricity to supply continuous and autonomous power and enable secure collection and transmission of data from... Continue Reading →
U.S. deepens emissions target at climate summit, goal called ‘game changing’
(Reuters) The United States on Thursday pledged at a global climate summit hosted by President Joe Biden to slash greenhouse gas emissions in half by 2030, a target it hopes will spark other big countries to raise their ambition to combat global warming. The United States, the world’s second-leading emitter after China, seeks to reclaim... Continue Reading →
Carney, Kerry launch global finance plan to boost climate action
(Reuters) UN climate envoy Mark Carney and U.S. peer John Kerry on Wednesday announced a new plan to boost efforts by the financial system to help move the global economy to net zero greenhouse gas emissions. While many large banks, insurers and asset managers have started to commit to some form of action, the frameworks... Continue Reading →
Former Enron Trader Sees Change in Houston Oil Patch
(Bloomberg) -- For John Arnold, the billionaire philanthropist who made his fortune betting on natural gas prices, Houston’s fossil-fuel industry seems finally ready to move on. A year ago, talk in the Texas energy hub was mostly about defending oil and gas and denouncing renewables, Arnold, 47, said Monday on his Twitter account. Now, much of the... Continue Reading →
EXCLUSIVE Eni eyes oil spin-offs to tackle debt in energy transition
(Reuters) Italy’s Eni (ENI.MI) is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. The move is part of a major overhaul the company launched last year as it transitions into... Continue Reading →
Equinor shareholders to vote on energy transition plan
Norwegian energy giant Equinor has informed, ahead of the 2021 Annual General Meeting, that starting in 2022 it will submit its energy transition plan for advisory vote to shareholders at its Annual General Meeting. Equinor said on Monday it will update the plan every three years for an advisory vote and progress on the plan... Continue Reading →
EXCLUSIVE Natixis to stop financing trade in Ecuadorian crude oil
(Reuters) French bank Natixis said it plans to stop financing the trading of Ecuadorian crude oil by 2022, after pressure from campaigners over the trade's links to environmental damage in the Amazon. The role of European banks in backing the trade came under scrutiny in August, when a report by advocacy groups Stand.earth and Amazon... Continue Reading →
Shell to Produce Majority of Oil and Gas Reserves by 2050. Plays Down Stranded Assets Risk
Royal Dutch Shell said on Thursday the majority of its oil and gas reserves will be produced by 2050, playing down the risk of stranded assets as it prepares to reduce its greenhouse gas emissions in the coming decades. The disclosure is a rare admission by a major oil and gas company that some of... Continue Reading →
Chevron, Moreld Invest in Floating Wind Tech Firm Ocergy
Oil major Chevron has, via its Chevron Technology Ventures (CTV), entered the offshore wind arena through investment in Ocergy, a company developing floating offshore wind turbine foundation technology and environmental monitoring buoy. Ocergy, Inc, a company with offices in Oakland, California, and in Aix-en-Provence, France, said Tuesday it had secured investments from Chevron Technology Ventures (CTV) and the... Continue Reading →
Brazil Energy Insight 