Monday, July 6, 2020

Greenhouse Gas Emissions News

Shell to Write Down $22B in Wake of Coronavirus

Shell Logo / Image by Alexandr Blinov - AdobeStock

Royal Dutch Shell said on Tuesday it would write off assets worth up to $22 billion after the coronavirus crisis knocked oil and gas demand and weakened the energy price outlook.The impairments follow the Anglo-Dutch…

Gunvor Returns to Profit in 2019

© Andrea Izzotti / Adobe Stock

Energy trader Gunvor Group returned to profit in 2019 after its first net loss a year earlier, helped by record earnings in its U.S. division, and said business so far in 2020 remained strong.The Geneva-based firm, which…

Norway Earmarks $369M for Green Industry Investments

Image for illustration; Credit: Equinor

The Norwegian government proposes spending 3.6 billion Norwegian crowns ($369 million) on investments to make its economy greener as it gradually emerges from coronavirus lockdowns, the government said on Friday."The…

Denmark Proposes Two Giant Wind Energy Islands

Image by nuttawutnuy/AdobeStock

Denmark on Wednesday proposed a more than tripling of its offshore wind capacity by building two energy islands linked to new wind farms in the Baltic and North seas to help to meet climate change targets.The energy islands…

Technology: Greenhouse Gas Emission Capture and Storage to the Fore

Hydrate crusts formed within ocean floor sediments ensure the encapsulation and safe and effective containment of captured CO2. Image: MDC

Greenhouse gas emissions capture and storage may be a more practical alternative to emissions reduction for meeting the IMO’s 2050 CO2 target. Tom Mulligan reports.Shipping emits close to 1 billion tons of CO2 each year…

Shell Cuts Dividend for First Time Since World War Two

Shell logo - Image Credit: Alexandr Blinov / AdobeStock

Royal Dutch Shell cut its dividend for the first time since World War Two on Thursday as the energy company retrenched in the face of an unprecedented drop in oil demand due to the coronavirus pandemic.Shell also suspended…

Shell Sets Oil Sector's Broadest Carbon Reduction Plans

Image Credit: NicoElNino - Adobe Stock

Royal Dutch Shell on Thursday deepened its ambition to battle climate change, setting the oil and gas sector's broadest plan to reduce greenhouse gas emissions to net-zero by 2050.The new climate goals put the Anglo-Dutch…

A&P Group Now Works on Renewables Only

Image: A&P Group

The global ship repair, conversion and fabrication specialist A&P Group is now using 100% renewable energy across all three of its facilities as it aims to improve its green credentials and meet Government targets.The…

Taiwan Gets 1st Carbon Neutral LNG Shipment

Image: Shell

Taiwan accepted its first carbon neutral shipment of liquefied natural gas (LNG). State-owned CPC Corporation, a natural gas, and gasoline company in Taiwan announced receipt of LNG cargo from Shell.Nature-based carbon…

Global LNG Demand to Double by 2040: Shell

Image: Shell

Global demand for liquefied natural gas (LNG), rose by 12.5% to hit 359 million tons last year, according to Royal Dutch Shell’s annual LNG Outlook report.According to the forecast by Shell,  LNG demand was expected to double by 2040 to 700 million tons…

Kongsberg, Zero Join Forces for Renewables

MS Roald Amundsen is the first of two hybrid ships Hurtigruten will add to its fleet over the next few years. Innovative sustainable technology from Kongsberg Gruppen reduces fuel consumption and CO2-emissions on the ships by 20 percent. Image: Kongsberg Gruppen

International marine technology group Kongsberg Gruppen and  Zero environmental foundation signed a three-year collaboration agreement.The main intentions of the collaboration are to create increased momentum in the shift…

ABS Grants AIP to KHI's LPG System

Image: Kawasaki Heavy Industries

ABS, a global provider of classification and technical advisory services to the marine and offshore industries, has granted Approval in Principle (AIP) to Kawasaki Heavy Industries, Ltd. (KHI) for its LPG as Fuel system design.According to a press release…

Ørsted Tops World's Sustainable Companies

Image: Ørsted

The global leader in offshore wind Ørsted becomes the first-ever energy company to top a index.The Denmark-based global power company has outperformed more than 7,300 global companies with billion-dollar revenues to rank…

Cenovus Energy Sets Out to Slash Emissions

(Photo: Cenovus Energy)

Canada's Cenovus Energy on Thursday unveiled plans to reduce per-barrel greenhouse gas emissions by 30% by the end of 2030, as the country's oil industry faces growing pressure from environmental activists.The Alberta…

Norwegian PM Opens Johan Sverdrup Field

Image: Equinor

Norway's prime minister Erna Solberg has opened the Johan Sverdrup field center, and the Minister of Petroleum and Energy, Sylvi Listhaug, also attended the opening.Since Equinor and the Johan Sverdrup partners Lundin Norway…

Equinor Targets Zero Emissions

The Johan Sverdrup field in the North Sea. (Photo: Ole Jørgen Bratland / Equinor)

Norwegian oil producer Equinor aims to cut greenhouse gas emissions generated at offshore fields and onshore plants in Norway by about 40% in the coming decade and to near zero by 2050, it said on Monday.The cuts could allow Norway…

Equinor, Rosneft to develop Arctic oilfield

North Komsomolskoye is a conventional onshore oil and gas field located in Western Siberia in Russia. (Photo: Natalia Ermakova, Equinor)

Russia's Rosneft and Norway's Equinor have agreed details on how to develop an Arctic Siberian onshore oilfield, they said on Monday, their first joint investment since agreeing a strategic partnership in 2012.The firms…

Ørsted Secures Funding for Hydrogen Pilot

Avedøre Power Station on Avedøre Holme. Image: Ørsted

Offshore wind developer Orsted has secured funding for a demonstration project using offshore wind power to produce renewable hydrogen to power.Seven industrial partners have been awarded funding for a demonstration project…

UK Affirms 40 GW Offshore Wind Goal

Photo: Government of United Kingdom

The British Queen, in her speech to both houses of  United Kingdom (UK) parliament, revealed that the UK’s target for installed offshore wind energy has been raised to 40 GW by 2030, and that the UK government will support…

Saudi Aramco Sets Record $25.6 Bln IPO

(Photo: Saudi Aramco)

State-owned oil giant Saudi Aramco's initial public offering (IPO) will be the biggest in history, but will fall short of the towering $2 trillion valuation long sought by Crown Prince Mohammed bin Salman.Aramco priced its IPO at 32 riyals ($8.53) per share…