Companies

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 …

Qatar Petroleum, along with several leading international LNG players, signed a multi-party agreement with LNT Marine, the American Bureau of Shipping (ABS), and Shanghai Waigaoqiao Shipbuilding (SWS) to collaborate on the development of new medium and large liquefied natural gas (LNG) carrier designs. The agreement paves the way for the …

The U.S. rotary rig count increased by six to 384 drilling units this week, Baker Hughes Co. (NYSE: BKR) reported Friday. In its weekly count of operating rigs Baker Hughes noted that all six of the additional U.S. drilling units are oil rigs, a subset that now totals 295. The …

Saudi Aramco, the world’s largest quoted oil company, could pay even more than the $75 billion per year it promised at the time of its initial public offering in 2019, according to new research from analysts at Bank of America. “We believe that dividend upside is also possible at higher …

Schlumberger New Energy, Chevron Corporation, Microsoft and Clean Energy Systems today announced plans to develop a ground-breaking bioenergy with carbon capture and sequestration (BECCS) project designed to produce carbon negative power in Mendota, California. The BECCS plant will convert agricultural waste biomass, such as almond trees, into a renewable synthesis …

ExxonMobil has announced that it will lay off nearly 300 employees by the end of this year in Singapore, as part of its effort to boost and sustain its long-term competitiveness. The impacted employees represent around 7% of the oil and gas major’s workforce of over 4,000 in Singapore. ExxonMobil …

Chevron Corp on Thursday said it had launched a $300 million fund focused on low-carbon technology, as traditional global oil and gas firms attempt to invest more in green energy and tackle climate change. Major energy firms have set targets to reduce greenhouse gas emissions or are exploring investments in …

Chevron Corp. launched a new $300 million fund on Feb. 25 aimed to address challenges facing the oil and gas industry in the so-called energy transition through investments in low-carbon technologies. The U.S. oil major hopes to build on the success of its previous fund, Future Energy Fund, which has …