Decarbonization News

 

Global Oil CEOs Stress Need for Oil and Gas Despite Clean Energy Push

Dec 07, 2021

A global energy conference devoted to future technologies and low-carbon strategies kicked off in Houston on Monday with top executives from energy companies affirming the need for more oil for decades to come.The World Petroleum Conference's…

Nippon Foundation, DeepStar Launch Joint Decarbonization R&D Program

Dec 06, 2021

The Nippon Foundation signed a Memorandum of Understanding (MoU) with the offshore technology development consortium DeepStar to establish a joint research and development program focused on decarbonization in offshore oil and gas, with a focus on renewable energy and the environment…

OGA Picks Winners of Offshore Platform Electrification Contest

Dec 06, 2021

The UK Oil and Gas Authority on Monday said three winners would share a £1 million (~$1,32 million) prize for ideas that could help cut greenhouse gas emissions by moving forward the drive to electrify platforms in the North Sea.The decarbonization…

UK North Sea: Shell Scraps Plans to Develop Cambo Oil Field

Dec 03, 2021

Royal Dutch Shell said on Thursday it had scrapped plans to develop the Cambo oil field in the British North Sea, which became a lightning rod for climate activists seeking to halt the development of new oil and gas resources.Following 'comprehensive screening' of the Cambo field…

McDermott Wraps Net Zero LNG Construction Study for Shell

Nov 29, 2021

Offshore engineering and construction company McDermott said Monday it had completed a liquefied natural gas (LNG) construction study  for Shell, 'identifying tangible reduction pathways toward net-zero construction emissions.'The results of…

Equinor, Partners to Invest $1.1 B in Further Development of Oseberg Field

Nov 26, 2021

Norwegian oil and gas company Equinor has with its partners, submitted an amended plan for development and operation (PDO)  to the minister of petroleum and energy Marte Mjøs Persen for the further development of the Oseberg field, with an increased focus on gas production…

Company Valuations and Climate Strategies are Poles Apart

Nov 25, 2021

Companies in the most polluting sectors that have invested in climate action often find themselves valued below peers that have been slower to do so, highlighting the difficulty of getting shareholders to back sustainability.Investors have poured more than $30 trillion into environmental…

Norway: Aibel Bags $560M Worth of Contracts with Equinor, Partners

Nov 23, 2021

Norwegian oil and gas company Equinor has, on behalf of the license partners in Krafla, Gina Krog, Asterix fields, and Gassco at Kårstø, signed contracts with engineering and construction firm Aibel worth around five billion Norwegian crowns (nearly $560 million)…

Hydrogen's Many Colors

Nov 19, 2021

Industries including energy, steel, and chemicals are looking to develop large-scale hydrogen applications to help reduce carbon emissions and avert global warming.Although hydrogen is the most abundant element in the universe, it's very scarce as a gas…

Exxon Lays Foundation For Offshore Carbon Storage Project at Gulf of Mexico Lease Sale

Nov 18, 2021

Exxon Mobil Corp on Wednesday offered to lease a half million acres off the Texas coast, securing space for what could become a massive project to capture and store carbon emissions.Under pressure by investors to address climate change, Exxon…

Lime Petroleum Joins Norwegian CCS Project

Nov 12, 2021

Oil firm Rex International's subsidiary Lime Petroleum has entered into an agreement with Nautilus Carbon Services AS to participate in the first phase of a larger project involving several other joint-industry project partners, which aims to…

Chevron, Partners to Fork Out for Carbon Offsets for Gorgon LNG Carbon Capture Shortfall

Nov 12, 2021

Chevron Corp and its partners in the Gorgon liquefied natural gas (LNG) project in Western Australia have agreed to buy carbon credits likely to cost more than $180 million as a penalty for failing to meet a five-year target for carbon capture and storage (CCS)…

Baker Hughes Signs Deal with Shell for Renewable Energy Credits

Nov 10, 2021

Oil major Royal Dutch Shell's clean energy unit will provide renewable energy credits (REC) to oilfield firm Baker Hughes' facilities in United States for a two-year period, the companies said on Wednesday. The move comes as climate activists…

Seismic Firm CGG Licenses Data for Offshore CO2 Storage Projects

Nov 10, 2021

Seismic data company CGG has licensed its Northern Viking Graben multi-client seismic data set in the Northern North Sea to Northern Lights JV DA, for use in its ongoing and future CO2 storage developments. Northern Lights JV DA, owned equally by Equinor…

North Sea Oil and Gas Trade Bodies Sign Pact to Cut Emissions

Nov 10, 2021

Oil and gas industry trade bodies OGUK,  Norwegian Oil and Gas Association, BVEG, NOGEPA, and Oil Gas Denmark representing five countries across Europe 'pioneering lower-carbon oil and gas in the North Sea' have signed a formal agreement to…

Current News

Weatherford CFO Jennings to Leave in July

Weatherford CFO Jennings to Leave in July

Vantage Drilling's Q1 Loss Narrows. Sale of Jack-up Rig Trio to ADES to Close in Q2

Vantage Drilling's Q1 Loss Narrows. Sale of Jack-up Rig Trio to ADES to Close in Q2

DOF Wins $260M in AHTS, ROV Deals with Petrobras in Brazil

DOF Wins $260M in AHTS, ROV Deals with Petrobras in Brazil

CBED to Provide Accommodation Vessel for German North Sea Wind Farm Projects

CBED to Provide Accommodation Vessel for German North Sea Wind Farm Projects

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