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OMV says it will stop oil and gas production by 2050 in transformation to net-zero

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Austria-based OMV, an international, integrated oil, gas and chemicals company, announced its intention to become a net-zero (Scope 1, 2 and 3) company by no later than 2050. The gradual decline foresees a decrease in crude oil production by around 30% and natural gas production by around 15% by 2030.

Oil 465
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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. 2 Total SA.

Oil 418
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DOE to award up to $88M for oil and natural gas recovery research

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The Department of Energy’s (DOE’s) Office of Fossil Energy announced up to $88 million in federal funding for cost-shared research and development projects enhancing technologies for oil and natural gas recovery under two separate funding opportunity announcements (FOAs). billion barrels. surfactant, alkaline and polymer flooding).

Oil 306
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Study finds total greenhouse gas footprint of blue hydrogen “quite high” due to fugitive methane

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“Blue” hydrogen—produced through steam methane reforming (SMR) of natural gas or coal gasification, but with CO 2 capture and storage—is being described as having low or zero carbon emissions. Our analysis assumes that captured carbon dioxide can be stored indefinitely, an optimistic and unproven assumption.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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ExxonMobil, FuelCell Energy expand agreement to optimize carbonate fuel cell technology for large-scale carbon capture

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signed a new, two-year expanded joint-development agreement to further enhance carbonate fuel cell technology for the purpose of capturing carbon dioxide from industrial facilities. ExxonMobil is exploring options to conduct a pilot test of next-generation fuel cell carbon capture solution at one of its operating sites.

Carbon 360
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IEA: global carbon dioxide emissions have rebounded strongly

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The Covid-19 crisis in 2020 triggered the largest annual drop in global energy-related carbon dioxide emissions since the Second World War, according to IEA data, but the overall decline of about 6% masks wide variations depending on the region and the time of year. But our numbers show we are returning to carbon-intensive business-as-usual.

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