Petrobras is pledging a 25% cut in carbon emissions by 2030, but that hasn’t stopped Chief Executive Officer Roberto Castello Branco from dismissing pledges by peers to completely neutralize their carbon footprints two decades later.
The oil & gas sector has a vital role to play in transitioning to net zero by 2050, and in mature basins like the UKCS, much can be achieved. Innovation and technology will be key to unlocking many of these opportunities.
Westminster’s multi-billion pound plan for a “green industrial revolution” has been touted as a “welcome signal” of what the UK’s path to net zero may look like.
A leading industry expert is expecting a “rapid” uptake in renewable projects in the US post-election as the new administration makes good on its clean energy pledges.
Occidental Petroleum Corp. became the first major U.S. oil producer to aim for net zero emissions from everything it extracts and sells, accelerating an industry trend that’s become commonplace in Europe.
Just five of the 39 largest oil and gas companies have announced carbon-reduction targets that match levels needed to avoid a 2-degree Celsius temperature increase. And only 20 have taken initial steps to disclose how they plan to lower emissions produced by both their operations and electricity use, known respectively as Scope 1 and Scope 2.
President-elect Joe Biden plans to push for the most progressive climate policy the U.S. has ever had, aligning the world’s second-largest carbon emitter with a growing group of nations aggressively tackling global warming.
The boss of the UK North Sea’s biggest producer is confident national net-zero targets can be factored into the sector’s operations without large volumes of indigenous oil and gas being left stranded.
Nicola Sturgeon has warned that climate change, not Covid, remains the “greatest long-term challenge” facing the world ahead of a key international summit in Glasgow next year.
In the UK and particularly in Scotland the oil and gas industry remains a major employer. It is also one of the very few providers of high value, high skilled jobs we have left and still offers a wide range of opportunities.