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Decarbonization News

 

Not an Aspiration, But a Target: Eni Says Will Become Carbon Neutral by 2050

Feb 19, 2021

Italian energy group Eni on Friday raised its ambition to cut greenhouse gas emissions, vowing to become net carbon neutral by 2050, as it seeks to keep up pace in an industry under pressure from investors to go green.Like its peers, Eni is stepping up plans to transition to cleaner fuels as governments around the world ratchet up green deals to tackle the climate crisis and electrify economies.'We commit to the full decarbonization of all our products and processes by 2050…

Green(er) Rigs: NOV, Kongsberg, COSL Team Up to Cut Offshore Drilling Emissions, Cost

Feb 03, 2021

Offshore drilling contractor COSL Drilling has partnered up with maritime tech provider Kongsberg Maritime, and drilling equipment firm NOV, to cut greenhouse emissions and lower the cost of its offshore drilling operations.COSL’s project, called ‘Energy Control’…

Japan's Largest Oil & Gas Producer Inpex Sets Net Zero Emission Goal

Jan 27, 2021

Inpex Corp, Japan's biggest oil and gas producer, said on Wednesday it is targeting net-zero carbon emissions by 2050 through the expansion of renewable and hydrogen energy as well as the use of carbon capture technology.The move comes after…

Australian Firm Launches Offshore CO2 Capture and Storage Project

Dec 07, 2020

An Australian company has lined up the country's national science agency and Japanese firms to work on a plan to capture carbon dioxide, and liquefy and transport it to a site offshore Australia to be injected under the seabed.The push comes…

Ørsted Plans to Build 1.6GW Offshore Wind Projects Near Incheon, South Korea

Nov 24, 2020

Danish offshore wind farm developer Ørsted on Tuesday said it would develop South Korean offshore wind projects with a potential capacity of up to 1.6GW off the coast of Incheon City. Ørsted said its projects in Incheon could provide clean energy to 1…

Total, ADNOC in Carbon Capture Pact

Nov 12, 2020

French oil major Total and Abu Dhabi's oil firm ADNOC have signed agreements to jointly work on opportunities in the areas of CO2 emission reductions and carbon capture, utilization, and storage (CCUS).'The agreement brings together the best-in-class in low carbon technologies from ADNOC and Total…

Petronas Sets Net Zero Emissions Target

Nov 06, 2020

Malaysian oil giant Petronas has announced its plan to achieve net-zero carbon emissions by 2050.The company'  President and Group Chief Executive Officer, Tengku Muhammad Taufik said: 'As the world contends with the many challenges brought about by energy transition…

Saudi Energy Minister: We Should Look at All Options to Cut Emissions, Not Get Rid of Oil, Gas

Oct 26, 2020

Saudi Arabia's energy minister said on Monday the world should be looking at all options to mitigate emissions of greenhouse gases in its fight against climate change, but that getting rid of oil and gas would be 'far-fetched and unrealistic'…

BP: Fossil Fuel Demand to Take Historic Hit Amid COVID-19 Scars

Sep 14, 2020

Fossil fuel consumption is set to shrink for the first time in modern history as climate policies boost renewable energy while the coronavirus epidemic leaves a lasting effect on global energy demand, BP said in a forecast.BP's 2020 benchmark…

DNV GL: Oil Demand, CO2 Emissions Probably Peaked in 2019

Jul 01, 2020

Global oil demand and carbon dioxide emissions probably peaked in 2019 as the COVID-19 pandemic will have a lasting impact on both, energy consultancy DNV GL said on Wednesday.The Norway-based consultancy, which advises both petroleum and renewable energy companies on risk management and technology…

CNOOC Buys Two Carbon-neutral LNG Cargoes from Shell

Jun 22, 2020

China National Offshore Oil Corp, or CNOOC, has agreed to buy from Royal Dutch Shell two cargoes of liquefied natural gas with offset carbon emissions, marking China's first gas imports of this kind, said the Shanghai Oil and Gas Exchange.CNOOC…

BP Lowers Oil Outlook. Expects to Take up to $17.5B Writedown

Jun 15, 2020

BP will write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts, betting the COVID-19 crisis will cast a lasting chill on energy demand and accelerate a shift away from fossil fuels…

Japan's JXTG to Spend $14B on Low-Carbon Transformation

May 20, 2020

JXTG Holdings Inc, Japan's biggest oil refiner, said on Wednesday it will spend 1.5 trillion yen ($14 billion) for the next three years to drive its transformation into a supplier of low-carbon energy and materials.The planned spending, mapped…

Japan's JX Nippon Taps KBR for CCS, Hydrogen Study

May 13, 2020

U.S. engineering and construction giant KBR has been awarded a contract for Carbon Capture and Sequestration works at JX Nippon's offshore oil and gas fields in South East Asia.Under a Master Service Agreement (MSA) and Feasibility Study awarded to KBR by Japan-based oil and gas company JX Nippon…

Shell, Eni Lead Oil Majors' Climate Ambitions But Still Fall Short - Investors

May 12, 2020

None of the big oil companies currently meet U.N. targets to limit global warming despite the most ambitious targets set by Royal Dutch Shell and Eni , investors managing $19 trillion said on Tuesday.The Transition Pathway Initiative (TPI),…

Current News

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ADNOC Drilling Takes Delivery of Shelf Drilling Journey Jack-Up Rig

Ex-SBM Offshore Sales Manager Convicted in Bribery Case

Ex-SBM Offshore Sales Manager Convicted in Bribery Case

Alexey Miller to Stay at Gazprom Helm for Five More Years

Alexey Miller to Stay at Gazprom Helm for Five More Years

ExxonMobil's Total Oil and Gas Reserves Drop by a Third

ExxonMobil's Total Oil and Gas Reserves Drop by a Third

OPEC+ to Weigh Modest Output Boost, Sources Say

OPEC+ to Weigh Modest Output Boost, Sources Say

PTTEP Finds More Gas Offshore Malaysia

PTTEP Finds More Gas Offshore Malaysia

Petronas Strikes Oil Offshore Indonesia

Petronas Strikes Oil Offshore Indonesia

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