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3 Oil Majors That Bet Big On Renewables

Green Car Congress

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. Equinor has announced plans to invest $10B into clean energy by 2025, mostly through its offshore wind portfolio. 1 Equinor. 2 Total SA.

Oil
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Qatar invests $125M in energy storage company Fluence

Green Car Congress

Fluence, the global energy storage solutions joint venture between Siemens and AES, announced that it has entered into a definitive agreement with the Qatar Investment Authority (QIA) pursuant to which QIA will commit to invest $125 million in Fluence through a private placement transaction.

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Williams Technology Centre in Qatar and Sainsbury’s form technology collaboration; MLC flywheel energy storage for stationary applications

Green Car Congress

Sainsbury’s and Williams F1 will collaborate to apply Formula One-inspired technologies being developed at the Williams Technology Centre (WTC) in Qatar to help the supermarket group increase its energy efficiency and reduce greenhouse gas emissions.

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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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Fossil fuels still dominated energy consumption with 87% market share, while renewables rose fastest but are still only 2% of the global total. There was a record decline in EU gas consumption (-9.9%) driven by the weak economy, high prices, warm weather and continued growth in renewable power generation. Renewables.

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Delta Air Lines signs 75 MGPY for 7 years SAF deal with Gevo; oneworld Alliance members plan to buy 200 MGPY

Green Car Congress

Gevo’s production processes will incorporate renewable energy, including wind turbines, biogas, and combined heat and power systems (CHP) to increase efficiency and reduce carbon intensity to net-zero levels, which the customer can then pass on through the fuel.

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War in Ukraine: We Need to Talk About Fossil Fuels

Cars That Think

These price increases were driven in part by a drop in wind-generated energy, the leading form of renewable energy on the European continent. The drop was steep enough to force Germany to produce more electricity from coal than from wind in 2021. Regardless, the E.U.