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3 Oil Majors That Bet Big On Renewables

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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com.

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Oil sands company Suncor Energy strengthens its focus on hydrogen and renewable fuels, divesting wind and solar

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Suncor Energy, a Canadian integrated energy company that is one of the top oil sands producers in the country, will strengthen its focus on hydrogen and renewable fuels to accelerate progress towards its objective to be a net-zero company by 2050. Suncor also plans to divest its wind and solar assets.

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.

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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.

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Cepsa to invest €3B in Andalusia to build the largest green hydrogen hub in Europe; additional €2B for renewable power

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Cepsa—the Spain-based multinational oil and gas company—will invest more than €3 billion to establish the Andalusian Green Hydrogen Valley, creating the largest green hydrogen hub in Europe in southern Spain. Due to the abundance of sun and wind in the Iberian Peninsula, the International.

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How renewables could beat natural gas in US generating capacity within 3 years – in numbers

Baua Electric

Photo courtesy of Tom Brewster/BLM California US renewableselectrical generating capacity could be close to – and may even surpass – natural gas within three years, according to FERC data. Three megawatts each of new biomass and oil capacity plus 1 MW each of new hydropower and natural gas capacity made up the balance.

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BP selects Tesla batteries for pilot storage project at US wind farm

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BP Wind Energy, through its wholly-owned subsidiary Rolling Thunder I Power Partners LLC, has signed a purchase agreement to install a high-storage battery at its Titan 1 Wind Farm in South Dakota. Situated on 7,500 acres in Hand County, Titan 1 Wind Farm is wholly owned and operated by BP Wind Energy.

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