net zero

The new pledge from the world's largest oil producer comes just days before the 26th United Nations Climate Change Conference is set to meet in Glasgow, Scotland, to discuss new climate targets and initiatives.

The oilfield service giant said its plans to decarbonize are inclusive of Scope 3 emissions, or the emissions generated when customers use its technologies.

One-time shale champion eliminates $1 billion in annual cash costs and plans to focus 2021 activity on natural gas assets.

The partnership aims to speed up the decarbonization of seven global industries representing 30% of global emissions, which include steel, trucking, shipping, chemicals, cement, aluminum, and aviation.

The UN says the 2020 Climate Action Summit delivered a surge in progress toward climate goals.

Petrobras is pledging a 25% cut in carbon emissions by 2030, but that hasn’t stopped Chief Executive Officer Roberto Castello Branco from dismissing pledges by peers to completely neutralize their carbon footprints 2 decades later.

As it reaches for net-zero emissions, the company said its operations offshore Norway remain central to its long-term strategy.

Shell's CEO said the Dutch supermajor has "too many layers" and that the move to downsize will help ensure its future. As a result, at least 9,000 people are expected to leave the oil and gas producer between now and 2022.

The companies say they will expand their existing technology collaboration to create and deliver solutions to help customers, suppliers, and other businesses lower emissions.

Through a combination of reducing operational emissions and offsetting projects, the shale-gas producer has set a new benchmark for its sector.