Energy transition
This guest editorial addresses the many capacities in which oil and gas technical professionals can play a role advancing the energy technologies of tomorrow.
With millions of wells having been drilled in the US since the beginning of the oil age, the land is pocked with old, unused wellbores. For most, repurposing is a pipe dream. Plugging is the best option.
The DOE-backed EGS-Twin project aims to simulate geothermal production systems, helping operators better predict performance and maximize output.
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Approaches to carbon abatement using petroleum are discussed that have a strong chance to succeed in fulfilling technological and economic goals in reducing carbon. -
World energy is at a “pivotal moment,” says BP CEO in annual statistical review, which reveals contrasts, challenges in energy consumption, production, and emissions.
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COVID-19 will fundamentally affect the world’s energy systems and the pace and direction of global transition. The WEC identified a three-stage, respond-rebuild-recreate model being adopted by energy companies in response to the pandemic.
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The company is creating two new business groups: Natural Resources, focused on developing the upstream oil and gas portfolio sustainably, and Energy Evolution, dedicated to supporting the evolution of the company’s power generation, product transformation, and marketing.
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Environment/social/governance (ESG) represents the integration of human values into the financial value of investments. The energy industry that emerges from the COVID-19 pandemic will be different from the one that entered it.
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When considering the energy markets and climate risks, the debate around the energy transition has shifted from when it will happen to what it will look like.
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While renewable energy sources are poised to see major growth, possibly displacing natural gas as the top source of electricity in the US, hydrocarbon production will remain above or near current historical highs until at least 2050.
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Rapid scale-up of CCUS projects is critical to achieving net-zero carbon emissions by 2050.
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Macroeconomic and business risks, investor uncertainty, and the energy transition highlight the challenges outlined in the report.
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The bank funded some €2 billion in projects last year.
