Decarbonization News

 

European Union Eyes Mammoth Expansion of Offshore Wind Farms

Nov 20, 2020

The European Union unveiled plans on Thursday to transform its electricity system to rely mostly on renewables within a decade and increase its offshore wind energy capacity 25-fold by 2050.Renewable sources like wind and solar provide roughly a third of EU electricity today, but the EU says that share will need to expand to about two-thirds by 2030 to put the bloc on track for its plan to become climate neutral by 2050…

Tracking the Environmental Impact of the Oil and Gas Supply Chain

Nov 24, 2020

With the energy transition gaining pace, several exploration and production (“E&P”) companies have adjusted their business models; both to reduce emissions and to mitigate climate-related business risks. E&Ps may be grabbing the headlines regarding…

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…

Wintershall Dea Targets Net-zero Emissions from Upstream Activities by 2030

Nov 23, 2020

German oil and gas company Wintershall Dea has set greenhouse gas reduction targets for its production activities (scope 1 + 2 emissions, operated and non-operated upstream activities at equity share basis). The company said Monday it wanted to achieve net zero operations by 2030…

McDermott Wins Pre-FEED Work at Tata Steel North Sea CCS project

Nov 20, 2020

Engineering and construction firm McDermott has been awarded a Pre Front-End Engineering Design (FEED) contract from steelmaker Tata Steel for the EVEREST carbon capture and storage project in the Netherlands.EVEREST stands for Enhancing Value by Emissions Reuse and Emission Storage…

Halliburton to Set Greenhouse Gas Emission Reduction Targets

Nov 19, 2020

Oilfield services provider Halliburton Co said on Thursday it would set greenhouse gas emission reduction targets in line with what the latest climate science outlines is necessary to meet the goals of the Paris Accord.The announcement comes…

UK: Boris Johnson Outlines 10-point Green Plan with up to 250,000 Jobs

Nov 18, 2020

The UK Prime Minister Boris Johnson on Wednesday set out a ten-point plan for 'a green industrial revolution' which promises to create and support up to 250,000 British jobs.'Covering clean energy, transport, nature and innovative technologies…

Aker Solutions Launches Call to Action to Speed Up Energy Transition

Nov 16, 2020

Norwegian offshore energy services firm Aker Solutions, which last week merged with Kvaerner, on Monday launched a campaign aimed at speeding up 'the transition to sustainable energy production.'The company, which has 15,000 employees around the world…

Woodmac: 2-degree Pathway Could Lead to 65% Drop in Upstream Gas Investments

Nov 13, 2020

Energy intelligence group Wood Mackenzie has said that a world on a 2-degree celsius pathway could significantly reduce upstream gas investments - by 65% through to 2040.To remind, countries that signed the famous Paris Agreement in 2016, committed…

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…

Chrysaor Files Application for Offshore CO2 Storage License

Nov 10, 2020

Chrysaor, a UK-North Sea focused oil and gas company, has tendered a license application for the purpose of storing CO2, and will, in parallel, seek agreement for a storage lease with The Crown Estate for the storage of CO2 in a depleted Southern North Sea gas reservoir…

BP, Ørsted Enter Green Hydrogen Pact in Germany

Nov 10, 2020

British oil major BP and Danish wind developer Ørsted have signed an agreement to work together to develop a ‎project for industrial-scale production of green hydrogen in Germany.Green hydrogen is made by the electrolysis of water using ‎renewable power…

Vår Energi Charters Olympic, Tidewater PSVs

Nov 09, 2020

Norwegian oil and gas firm Vår Energi has chartered two offshore support vessels, which the company says will help it reduce environmental footprint.One is the Olympic Energy platform supply vessel, owned by Olympic Shipping, the other is Tidewater's 2012-built Troms Sirius platform supply vessel…

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…

Baker Hughes to Buy Compact Carbon Capture in Push to Expand Beyond Oil and Gas

Nov 03, 2020

Baker Hughes Co said on Tuesday it would buy Compact Carbon Capture AS in a bid to expand its footprint beyond oil and gas oilfield services as it prepares for a transition to a low-carbon future.Facing pressure from shareholders worried about…

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