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offshoreWind.biz: Empire Offshore Wind, a joint venture between Equinor and bp, has named Vestas as the preferred turbine supplier for the 2.1 GW Empire Wind 1 and Empire Wind 2 offshore wind projects in New York, USA. Vestas will provide 138 V236-15.0 MW turbines for Empire Wind 1 and 2, located 15-30 miles off the […]
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Colorado Public Radio: The official launch of a massive solar array that will power the steel mill in Pueblo was held Wednesday on top of a hill with a view that framed the array, mill and power station connecting the two. The Bighorn solar project, financed, built and operated by Lightsource BP, will generate electricity […]
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Bloomberg ($): The United Arab Emirates has become the first of the Persian Gulf’s petrostates to commit to eliminating planet-warming emissions within its borders. “We are committed to seize the opportunity to cement our leadership on climate change within our region and take this key economic opportunity to drive development, growth and new jobs,” said […]
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Texas Tribune: Energy giant Royal Dutch Shell sold its oil and gas business in the Permian Basin, the country’s largest oilfield, to ConocoPhillips for $9.5 billion cash on Monday. The deal is a major move for Shell, which produces more than 175,000 barrels of oil per day in the Permian Basin, as it faces pressure […]
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ReNews.biz: Global solar player Lightsource BP has secured a new $1800m credit and trade finance facility that it said will help fuel a new growth strategy of developing 25GW by 2025. The funding, provided by ten global financial institutions, underpins its execution strategy to accelerate the deployment of solar across the EMEA, Americas and Asia […]
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Bloomberg ($): European power companies could be burdened with debt and face credit rating downgrades if they fail to take action to reach climate neutrality by the middle of the century, a new study says. The European Union plans to reach net zero emissions by 2050 as part of efforts to curb global temperature rises […]
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Wall Street Journal ($): Chevron Corp. CVX +0.03% is preparing to defend itself against a potential challenge from activist investors like the one that roiled Exxon Mobil Corp. XOM -0.38% earlier this year, according to people familiar with the matter. In recent weeks, Chevron executives met with representatives of Engine No. 1, the investment firm […]
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Renew Economy: Australia may soon be host to a new source of renewable energy after long awaited legislation that will enable offshore wind projects to be built in commonwealth waters was finally tabled in parliament on Thursday by federal energy minister Angus Taylor. Offshore wind has stunned many in the industry for its ability to […]
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South China Morning Post: After making a foray into offshore wind power, CNOOC now plans to develop onshore solar and wind farms as part of its diversification from oil and gas. The Chinese offshore oil and gas giant was actively pursuing renewable energy projects with a goal to build up annual capacity of at least […]
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Houston Chronicle: The energy transition is well underway at the Offshore Technology Conference in Houston, and everyone in the fossil fuel industry should pay attention. Following the cancellation of last year’s OTC due to the COVID-19 pandemic, the four-day conference of energy suppliers, producers and supporters will be much smaller. Fewer panels, fewer technical discussions […]
IEEFA: Oil supermajors made $20.5 billion in 2020 but spent $49.9 billion to please investors
Five largest private-sector oil supermajors have dropped more than a half-trillion on shareholders over last decadeMarch 4, 2021 (IEEFA) —The world’s five largest private-sector oil and gas companies collectively spent $29.4 billion more on shareholder payouts than they generated from operations, according to a new report by the Institute of Energy Economics and Financial Analysis (IEEFA). The five supermajors—ExxonMobil, Chevron BP, Total and Shell—generated $20.5 billion in free cash flow, […]