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3 Oil Majors That Bet Big On Renewables

Green Car Congress

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. 2 Total SA.

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Woodside approves investment in $7.2B Trion development in deepwater Gulf of Mexico; first oil in 2028

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First oil is targeted for 2028. Trion is a greenfield development that would represent the first oil production from Mexico’s deepwater. The project will target the development of an estimated 479 MMboe of Best Estimate (2C) Contingent Resource (100%) of oil and gas (287 MMboe 2C Contingent Resources, Woodside net economic interest).

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First turbine installed at world’s largest floating offshore wind farm – which will power oil and gas

Electrek

megawatt (MW) turbines has been installed at the world’s largest floating wind farm, off the Norwegian coast. Hywind Tampen is also Norway’s first offshore wind farm – and it will power offshore oil and gas platforms. The first of 11 8.6

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ExxonMobil announces significant oil discovery at Whiptail, offshore Guyana

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The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which has encountered 167 feet (51 meters) of net pay in high-quality oil-bearing sandstone reservoirs.

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US renewables’ installed generating capacity beats coal

Baua Electric

Photo by Los Muertos Crew on Pexels.com Solar capacity additions hit the ground running in 2024, pushing renewables’ installed generating capacity past coal, according to new US Federal Energy Regulatory Commission (FERC) data. That’s more than the installed capacity of coal (207.15 Installed utility-scale solar capacity (104.61

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DOE awards $8.4M for accessing geothermal potential from abandoned oil and gas wells

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million to establish new geothermal energy and heat production from abandoned oil and gas wells. This work also supports the creation of new clean energy jobs, helping transition some of the oil and gas workforce to the production of renewable energy. The US Department of Energy (DOE) selected four new projects to receive up to $8.4

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Aemetis India Plant to supply $41M of biodiesel in two-month period to OMCs and India oil refiners

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Aemetis announced that its Universal Biofuels subsidiary in India, owner and operator of a biodiesel plant located near the Port of Kakinada on India’s east coast, was selected by the three government-controlled oil marketing companies (OMCs) and a major oil refiner to supply approximately 8,000,000 gallons of biodiesel over the next two months.

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