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3 Oil Majors That Bet Big On Renewables

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Despite the much-vaunted megatrend involving the global electrification drive and shift to renewable energy , the most ambitious pledges by Big Oil to pursue net-zero agendas remain weak at best. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. 1 Equinor. 2 Total SA.

Oil 418
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EIA: natural gas-fired reciprocating engines are being deployed more to balance renewables

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Source: US Energy Information Administration, Preliminary Monthly Electric Generator Inventory, January 2019. Other includes landfill gas, biomass, and other gas. Based on data in EIA’s Preliminary Monthly Electric Generator Inventory, reciprocating engines accounted for 1% of the total natural gas-fired power fleet.

Gas 348
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Monash team proposes roadmap to renewable ammonia economy; 3 generations of technology

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While there is global potential to generate renewable energy at costs already competitive with fossil fuels, a means of storing and transporting this energy at a very large scale is a roadblock to large-scale investment, development and deployment. Generation 2 moves the Haber-Bosch process to renewable sources of hydrogen.

Renewable 419
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Ørsted proposes to develop one of the world’s largest renewable hydrogen plants: SeaH2Land

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Ørsted, the world’s leading offshore wind developer, together with the major industrial companies in the North Sea Port cluster, have launched the SeaH2Land vision for a gigawatt scale project to reduce carbon emissions in the Dutch-Flemish industrial cluster with renewable hydrogen.

Hydrogen 284
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IEA: global energy investment stabilized above $1.8T in 2018; security and sustainability concerns growing

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Global energy investment stabilized in 2018, ending three consecutive years of decline, as capital spending on oil, gas and coal supply bounced back while investment stalled for energy efficiency and renewables, according to the International Energy Agency’s latest annual review. trillion in 2018, a level similar to 2017.

2018 191
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IEA: global energy demand rose by 2.3% in 2018, fastest pace in the last decade; CO2 emissions up 1.7%

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Natural gas emerged as the fuel of choice, posting the biggest gains and accounting for 45% of the rise in energy consumption. Gas demand growth was especially strong in the United States and China. Still, that was not fast enough to meet higher electricity demand around the world that also drove up coal use.

2018 207
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ITM Power to study large-scale production of renewable hydrogen in British Columbia; export to Japan and California

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The British Columbia Government Ministries of Energy, Mines and Petroleum Resources and Jobs, Trade and Technology has awarded ITM Power a grant to undertake a Power-to-Gas (P2G) feasibility study. The project team includes ITM Power, Chiyoda Corporation, Mitsui & Co., and G&S Budd Consulting Ltd.

Hydrogen 186