Eni is moving forward with carbon capture projects as part of its goal to decarbonize all of its products and services by 2050.
API, which includes most of the world’s biggest oil companies, is considering endorsing carbon pricing “among other policy solutions to reduce emissions and reach the ambitions of the Paris Agreement,” a source says.
Chevron also signed a letter of intent for a potential pilot project in California to deploy heat power, which is an affordable form of renewable energy that can be harnessed from either geothermal resources or waste heat.
Climate activists plan more green resolutions and ESG initiatives at annual shareholder meetings for oil and gas groups after ‘corporate-friendly’ Trump years.
Exxon Mobil, which has faced fresh pressure from investors since late last year, also appointed Comcast executive Michael Angelakis to its board on March 1.
Oil and gas companies attaining global sustainability goals will depend on partnerships formed across sectors—like BP’s deal with Amazon, says CEO Bernard Looney during CERAWeek.
Oil and gas companies can play a role in the energy transition and bring a particular skillset to help reduce carbon emissions, such as sequestering carbon and burying nuclear waste, Bill Gates says.
Never has the opportunity been greater for oil and gas companies to take on a larger role to lead in the ongoing energy transition, says Angie Gildea, who serves as national sector leader for energy, natural resources and chemicals at KPMG.
It’s not the Keynes kind; it’s the Jack London kind. E&P executives are restless, according to a Dallas Fed survey, and they’re going mano a mano for market share. Will it manifest in consolidation? Where to next for the sellers? For some, it’s a new land rush: energy transition.
Chevron said Future Energy Fund II will focus on innovation in industrial decarbonization, emerging mobility, energy decentralization and the growing circular carbon economy.