net zero

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.

Supermajor announces actions to achieve net-zero ambition and reshape business. It also noted that it will not seek to explore in countries where it does not already have upstream activities.

Despite the global downturn, the long-term transition to net zero presents a major opportunity to create new multibillion industries based around the North Sea. Cross-sector collaboration and major state/private sector intervention, together with strong leadership, will be key.

World energy is at a “pivotal moment,” says BP CEO in annual statistical review, which reveals contrasts, challenges in energy consumption, production, and emissions.

The UK’s offshore oil and gas industry has committed to halving operational emissions in the next decade, confirming its pathway to becoming a net-zero emissions basin by 2050.

Write-offs include billions for early-exploration-stage projects that the company will now cut.

Europe’s top oil and gas companies, which account for roughly 7% of global crude consumption, have committed themselves to greenhouse gas emission reduction targets that vary in scope and detail, making them hard for investors to compare.