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Bloomberg ($): As the European Union gets serious about fighting climate change, experts are fielding more calls than ever from polluters seeking help to trap, process and store their carbon emissions. The business of capturing emissions from industrial plants that make everything from cement to energy will get a push from the European Commission’s ambitious […]
Tom Sanzillo and Clark Williams-Derry
Rising oil prices fail to mask long-term fundamental weaknesses for oil business
Former ExxonMobil CEO Lee Raymond advanced the idea in the 1980s that the quality of management trumped all else in evaluating the oil industry’s prospects. He believed oil company executives were in the best position to project supply and demand, ride worldwide growth cycles, and provide robust returns to investors, no matter how oil markets […]
IEEFA
PV Magazine: The 540 MW of solar generation capacity and 1.14 GWh of energy storage awarded to Norwegian developer Scatec to help keep the lights on in South Africa recently is the biggest project award of what trade body the Africa Solar Industry Association (AFSIA) has described as “an unprecedented series of large scale” PV […]
IEEFA
S&P Global Market Intelligence ($): Norwegian oil and gas producer Equinor ASA is teaming up with manufacturer U.S. Steel Corp. to explore converting Appalachia’s natural gas to cleaner “blue hydrogen,” the firms said June 29. Blue hydrogen uses steam methane reforming to make hydrogen and uses carbon capture and storage, or CCS, technologies to store […]
IEEFA
Renew Economy: Australia has been ranked dead last for climate action in the latest Sustainable Development Report, which assesses the progress of countries towards achieving the Sustainable Development Goals. In the latest edition of the report, produced by the UN-backed Sustainable Development Solutions Network, Australia received the lowest score awarded to any of the 193 […]
IEEFA
Bloomberg ($): The top banker in western Europe’s biggest oil producer says she’s ready to fight the growing number of activists pressuring her to stop funding the petroleum industry. Kjerstin Braathen, the chief executive of Norway’s biggest bank, DNB ASA, says fossil-fuel divestment and exclusion are “dangerous” ways to try to reduce carbon emissions. Her […]
IEEFA
Bloomberg ($): The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won’t require it to sell less oil. The country is considering a 2050 target to align with a […]
IEEFA
Renew Economy: More than 200GW worth of new offshore wind projects have been announced around the world since 2020, according to new figures published this week, but regulatory hurdles and supply chain constraints will nevertheless hinder the completion of the entire pipeline by 2030. The new figures were published this week by renewable energy consultancy […]
IEEFA
Bloomberg ($): European renewable-energy stocks, battered for much of this year, present a buying opportunity because their growth story remains intact. That pitch from Goldman Sachs is luring some investors — those not in a hurry, that is. The way Goldman tells it, with governments promising to phase out fossil fuels and the environmental, social […]
IEEFA
NS Energy: Equinor plans to significantly raise its investments in clean energy this decade, pledging 50% of its capital spending budget to renewable and low-carbon projects by the end of 2030. That compares to a 4% allocation in 2020, and will translate into 12-16 gigawatts (GW) installed capacity by the end of the period – […]
IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders
With export markets' changing expectations, investors and industry beware31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]