Sustainability
The two companies said they will evaluate the possibility of a joint venture to develop a direct air capture hub in South Texas, with XRG considering investing up to $500 million.
The plant at Heidelberg Materials’ cement facility in Brevik, Norway, has captured its first 1,000 metric tons of carbon dioxide.
The times are changing and so are our industry’s prospects, as hydrocarbons are now recognized as cardinal to affordable energy security for the conceivable future. But, in avoidance of suspense, the answer to the headline question is “absolutely.” Here we look at the rationale why.
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A new 1.0 Bcf/D facility in Baytown, Texas, is expected online no later than 2028. -
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments but helped by a significant rise in funding for hydrogen and carbon capture, utilization and storage infrastructure, Rystad Energy research shows.
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Although 2022 did not match 2021’s record of over 19.5 GW of online capacity, 2022 witnessed the second highest amount of global online capacity with almost 8.5 GW. Final investment decisions (FIDs) were taken on over 11.5 GW of projects, making it the fourth highest year for FIDs.
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The past year has been a challenging one for companies on the ESG front. Overlapping environmental, social, and political crises—from flooding and wildfires to the first war in Europe in 80 years—have made the jobs of leaders that much harder.
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The sites with the most CO2 emissions to capture are often far from the best rock to sequester it, leading to design projects for transport ships.
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This paper outlines one of the first efforts by a major oil and gas company to build a net exporting, behind-the-meter solar photovoltaic plant to lower the operating costs and carbon intensity of a large, mature oil and gas field.
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The two companies said they will work together to try to find the best places to develop geothermal energy and advance the necessary technologies to commercial scale.
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Leveraging its existing natural gas interests, plus renewables potential in Egypt and Mauritania, BP is now factoring in Africa to realize its global ambitions as a hydrogen producer.
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The Oil and Gas Climate Initiative says its members’ absolute upstream methane emissions were down 40% since 2017. That’s equivalent to taking more than 3 million cars off the road for a year.
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In a move seen as part of BP's shift away from fossil fuels, the company said it may stop releasing its Statistical Review of World Energy, which it first published in 1952.
