About 70 acres of green space, industrial estates and more in Aberdeen could be transformed into the city’s first dedicated “energy transition zone” (ETZ), which oil tycoon Sir Ian Wood believes could be key to securing “unparalleled potential for the future of our local economy”.
Kosmos Energy has reported a net loss of $36 million for the fourth quarter of 2019, although free cash flow reached $139mn for the period.
In the new age of sustainability, there are plenty of companies pledging to offset emissions in the race for net zero. While certainly an improvement over past years when a pledge to do 10% better was the standard, the trend has triggered skepticism that greenwashing is really what’s at work.
Subsea Expo has celebrated its largest attendance on record after wrapping up the three-day event in Aberdeen.
BP Plc’s pledge to zero out all its carbon emissions by 2050 deepens the divide between major European and American oil producers on climate change, increasing the pressure for Exxon Mobil Corp. and Chevron Corp. to do more.
BP has unveiled ambitious new plans to slash its carbon emissions in a move that will lead to an overhaul of the UK oil giant’s structure.
If you want to make a difference, you need to be “on the boat”, according to BP’s Kirsty Salmon.
Even before the deadly virus struck, another menace confronted the global energy industry: the warmest winter anyone can remember.
Norwegian energy giant Equinor has outlined plans to become a global offshore wind “major” by 2026 as it looks to "shape its portfolio" in line with the Paris goals.
“Hard decisions” are going to have to be made by firms that are too reliant on North Sea oil, according to a director at Oil and Gas UK (OGUK).
The current energy transition is shaking the foundations upon which the oil and gas industry is built. In the UK, one such foundation is the Oil and Gas Authority’s maximising economic recovery UK (MER UK) strategy.
A BP boss in charge of energy transition efforts has teased “more to follow” on the eve of Bernard Looney’s coronation as chief executive.
“Rejuvenated” UK subsea energy engineering firms are preparing for a recruitment drive expected to deliver a major jobs boost for the sector, a new survey says.
The UK Continental Shelf’s attractiveness to investors results from a combination of compelling attributes: A competitive fiscal regime, a highly skilled supply chain and the remaining billions of oil and gas barrels that are still out there.
Oil and gas companies do have some advantages in terms of tackling the energy transition, but there are pitfalls along the way and the process will be messy, speakers at a CMS event launching a new report said.
The deputy chief executive of RenewableUK is to leave to head up trade association Energy UK.
BP’s new CEO needs to “push” the energy transition agenda further to stop the supermajor falling foul of investors, particularly in Europe, analysts have said.
It’s apparently not the traditional approach for the top dogs of major oil companies, but maybe it’s time to break the mould.
BP has set itself a challenge of creating five “unicorn” companies - valued at more than $1 billion - in the next five years to address the “dual challenge” of supplying more energy with fewer emissions.
The move from “Big Oil to Big Energy” is under way as the energy transition puts extra pressure on explorers, an analyst has said.
Big Oil doesn’t have a choice; either it gets serious about the necessary transition to low carbon energy or mounting public fear fuelled by the impacts of the deepening climate crisis will eventually force drastic change.
Vestas Wind Systems, the world’s largest maker of wind turbines, has pledged to eliminate all waste in the production of its machines by 2040 as part of its drive to hit carbon neutrality by the start of the next decade.
Oil and gas companies have provided “few signs” that they are willing to devote enough cash to tackling climate change, a new report said.
I recently addressed a room of industry leaders and when deciding what to say, I thought I'd begin by discussing one of the defining issues of our time: the dual challenge of providing more energy with fewer emissions.
Power plants that run on hydrogen could be cost-competitive with those using fossil fuels by the middle of the century if governments double the cost of carbon pollution.