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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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bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

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Both primary energy consumption and carbon emissions from energy use fell at their fastest rate seen since the Second World War, while renewable energy continued its trajectory of strong growth, with wind and solar power recording their largest ever annual increase. World oil production fell for the first time since 2009 by 6.6

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bp & Ørsted to produce green H2 at Lingen refinery; industrial-scale electrolyzer powered by offshore wind

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renewable power, producing zero emissions. This will be powered by renewable energy generated by an Ørsted offshore ?wind wind farm in the North Sea and the hydrogen produced will be used in the refinery.?. When powered by renewable ?energy, produced by reforming natural gas, which does result in CO 2 emissions.

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S&P Global: More than 75% of oil and gas production in US Gulf of Mexico has lower than average greenhouse gas intensity

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More than three-fourths of all oil and gas production in the US Gulf of Mexico has a lower greenhouse gas (GHG) intensity than the basin-wide average, according to a new S&P Global Commodity Insights analysis. However, about 78% of the total production was found to be beneath that average.

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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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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.