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(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 →
(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 →
(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 →
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 →
(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 →
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 →
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 →
UK-based oil and gas company Tullow Oil has committed to becoming a net-zero company by 2030 on its Scope 1 and 2 emissions through a combination of asset decarbonisation and carbon offsetting program. Announcing its commitment to become a net-zero company, Tullow has recently said it will achieve this through a combination of decarbonising its... Continue Reading →
The Norwegian oil company Equinor recently decided on the concept of area development for block BM-C-33 in the Campos Basin. One of the main points of Equinor's undertaking will be the construction of an offshore pipeline, which will connect the platform vessel (FPSO) from the field to a gas receiving installation at the Cabiúnas Terminal,... Continue Reading →
Shareholders of U.S. oil supermajor Chevron are set to vote on proposals aiming to require the oil company to reduce the environmental impact of its products and report on climate business risks. Chevron said in early March that it exceeded its 2023 upstream carbon intensity reduction targets three years ahead of schedule and announced lower... Continue Reading →
Brazil Energy Insight 