The target is supported by Maersk Drilling’s strategic focus on efficiency gains, which also leads to reduced CO2 emissions.
An upstream oil and gas company’s detailed road map outlines how to design a cost-effective decarbonization strategy
Business Roundtable previously had no position on the subject.
By providing details on emissions, oil and gas consultancy Kayrros helps companies to plug the leaks and impress investors.
As a result of the energy transition needed, oil demand could be slashed from 100 million bbl/d in 2019 to around 10 million bbl/d by mid-century, the study said.
The lawsuit targets two policy amendments announced by the Environmental Protection Agency in August that roll back methane emissions curbs on the oil and gas industry and weaken requirements for leak detection.
The company’s 2020 Energy Transition Outlook forecasts that carbon emission reductions will fall far short of the Paris agreement’s 2050 goals.
The sale follows comments CEO Lorenzo Simonelli made recently about downsizing Baker Hughes’ oilfield services and equipment portfolio in preparation for the energy industry’s transition to a low-carbon future.
The acquisition marks BP’s entry into offshore wind and follows a new strategy that sees the British oil major accelerating its shift away from fossil fuels.
ConocoPhillips continues to take steps to reduce flaring in Permian Basin's Goldsmith area, John Roper, director of the company's media relations and crisis communications, told Reuters.