Climate News

 

Equinor to Quit U.S. Lobby Group Over Climate Policy

Mar 27, 2020

Equinor will leave industry lobby group the Independent Petroleum Association of America (IPAA) over a disagreement about climate policy, the energy producer said on Friday.The Norwegian company is undertaking a review of its memberships of industry associations under an agreement with a group of institutional investors, the Climate Action 100+, signed last April.The Washington-headquartered IPAA represents…

Equinor Wraps Drilling of Offshore Well for CO2 Storage

Mar 05, 2020

Equinor, with its partners Shell and Total, has completed the drilling of confirmation well 31/5-7 Eos south of the Troll field in the North Sea. The purpose was to determine the suitability of the reservoir in the Johansen formation for CO₂ storage…

Premier Oil Targets Carbon Neutral Operations by 2030

Mar 05, 2020

British North Sea-focused oil and gas producer Premier Oil has committed to carbon-neutral operations at its fields by 2030, reporting a record free cash flow of $327 million last year, up around 30% and boosted by its flagship Catcher field…

Dutch Gov't to Double Renewables Subsidies

Mar 05, 2020

The Dutch government on Wednesday said it would double the amount of money available under its renewable energy subsidy program to 4 billion euros ($4.45 billion) in 2020, from a previously planned 2 billion euros.The Netherlands is scrambling…

Eni Pledges to Cut GHG Emissions by 80%

Feb 28, 2020

Italian energy group Eni on Friday pledged to shrink its greenhouse gas emissions by 80% in one of the industry's most ambitious clean-up drives, just weeks before a decision on its chief executive's future. In its new business plan, Eni said its oil and gas production - forecast to grow 3…

BP Leaves Trade Groups over Climate 'Misalignment'

Feb 26, 2020

British oil major BP has decided to leave three U.S. based trade organizations saying that its in-depth review has found misalignment of the climate-related policies and activities of trade associations with BP’s positions.Based on its findings…

Kosmos Energy Sets Carbon-Neutrality Target

Feb 25, 2020

Oil and gas producer Kosmos Energy, which plans to produce at least 62,000 barrels of oil equivalent per day this year, aims to make its operations carbon-neutral by 2030, it said on Monday.To achieve its target, Kosmos plans to increase the weighting of gas in its portfolio…

Repsol's Loss Widens on Low Prices, Writedowns

Feb 20, 2020

Spain's Repsol on Thursday reported a 36% fall in adjusted net profit and a net loss for the fourth quarter of 2019, battered on all sides by lower oil and gas prices and one-off charges mainly related to a bid to cut carbon emissions. Oil majors…

BP, Shell, Total Want to Power UKCS Platforms from Norway

Feb 13, 2020

Oil majors BP, Shell and Total want to connect some of their oil platforms to Norway's onshore power grid to reduce carbon emissions, BP said in a letter to the oil and energy ministry. Pressure has intensified on fossil fuel companies to curb…

New BP CEO to 'Reinvent' Oil Major as Deeper Emissions Targets Set

Feb 12, 2020

BP plans deep cuts to its carbon emissions by 2050, setting one of the oil sector's most ambitious targets, as part of the biggest overhaul in the 111-year old company's history by new chief executive Bernard Looney. The targets set on Wednesday put BP ahead of rivals Royal Dutch Shell and Total…

Equinor Broadens Scope of Carbon Targets to Match Rivals

Feb 06, 2020

Equinor joined other major European oil and gas companies on Thursday by including emissions from the fuel it sells to customers in its carbon reduction targets as investors step up the pressure on fossil fuel producers. By including so-called…

BP Closes London HQ on CEO's First Day Amid Climate Protests

Feb 05, 2020

Climate protesters forced BP to temporarily shut down its London headquarters on Wednesday, the first day in office for the oil and gas company's new CEO Bernard Looney. BP said more than 100 Greenpeace activists attempted to place 500 solar…

Lundin Sets Carbon Neutrality Target. Proposes Name Change

Jan 27, 2020

Swedish oil and gas company Lundin Petroleum is aiming to become carbon neutral by 2030. It has also proposed to lose the „petroleum“ part from its name, and replace it with „energy.“Announcing the launch of its Decarbonization Strategy on Monday…

Greenpeace Loses Norway Arctic Oil Lawsuit Again

Jan 23, 2020

An Oslo appeals court approved Norway's plans for more oil exploration in the Arctic on Thursday, dismissing a lawsuit by environmentalists who had said it violated people's right to a healthy environment. The verdict upheld a ruling made by a lower court…

IEA: Oil Firms Must Step Up Climate Efforts

Jan 21, 2020

Oil and gas companies are facing a critical challenge as the world increasingly shifts towards clean energy transition, and failure to address growing calls to reduce greenhouse gas emissions could threaten their long-term social acceptability and profitability…

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