Companies

Qatar Petroleum has decided to take over full ownership of the Qatargas Liquefied Natural Gas Company (QG1) on 1 January 2022. The company noted on Tuesday it will not be renewing the QG1 joint venture upon the expiry of the relevant agreements on 31 December 2021. Established in 1984, QG1 …

China’s Sinopec Corp, Asia’s largest oil refiner aims to be carbon neutral by 2050, with its near-term strategy focused on natural gas development and a long-term pivot to hydrogen, top executives said on Monday. As China’s largest hydrogen producer, Sinopec will focus on fossil fuel-based hydrogen production over the next …

Iraq is discussing a “giant” agreement with French oil giant Total SE to build large infrastructure installations, develop oil fields and produce gas, Oil Minister Ihsan Abdul Jabbar told Asharq News in an interview that aired on Saturday. The minister said he expected the contract to be finalized before July. …

BP’s trading arm made nearly $4 billion in 2020, according to a copy of an internal BP presentation seen by Reuters, almost equalling the record trading profit in 2019 despite the collapse in oil demand caused by the pandemic. Trading revenue for majors such as BP and rival Royal Dutch/Shell …

Aramco Upstream chief Nasir Al-Naimi said oil and gas companies should reduce their CO2 footprint as they continue to provide a majority of the world’s energy for years to come. “While new energy has a role to play, it will be a while before it is ready to shoulder a …

Gazprom has been working consistently for many years to reduce its environmental impacts and increase energy efficiency. In 2020, Gazprom implemented the planned environmental protection measures and achieved its corporate environmental targets. In 2020, the company reduced the emissions by 16 million tons of CO2 equivalent (14 %) against the …

The company noted that many countries view hydrogen energy as an area essential for the implementation of national low-carbon development strategies. At the same time, hydrogen is a secondary energy source, i.e. additional energy is required to produce it, which has an effect on its cost price. However, the company …

In the fast race between oil giants to achieve net-zero carbon emissions, BP announced on March 18 it is developing plans for the UK’s largest blue hydrogen production facility, targeting 1GW of hydrogen production by 2030. The project could help the UK government’s ambitious target for the country to be …

Gazprom Neft succeeded in cutting energy, heating and fuel costs across its directly owned refineries (in Moscow and Omsk) throughout 2020, with energy-saving initiatives delivering savings of RUB 400 million ($5.4 million). Gazprom Neft’s Moscow and Omsk refineries implemented a total 40 energy-saving initiatives in 2020. The Moscow Refinery has …

Royal Dutch Shell and Russian state-controlled oil and gas company Gazprom concluded the first carbon-neutral LNG delivery in Europe, they said. It was also Gazprom’s first foray into the emerging carbon-neutral LNG segment. The LNG was delivered to Shell’s Dragon LNG import terminal at Waterston, Wales. The move follows various …