BP’s shift to becoming a net-zero company uncovers an eventual transformation of its upstream oil and gas business.
Environmentalists argue that planting trees while ignoring emission cuts is counterproductive.
Defendants sought to sell oil to China in violation of sanctions.
BP plans deep cuts to its carbon emissions by 2050, setting one of the oil sector’s most ambitious targets, as part of the biggest overhaul in the company’s 111-year history by new CEO Bernard Looney.
The EIA on Feb. 11 cut its global oil demand growth forecast for this year by 310,000 barrels per day as the coronavirus outbreak dents oil consumption in China.
Energy companies will be able to handle the expansion and integration of renewables into their existing operations but are less prepared in the non-operational space, says Opportune’s Tony Jones.
Rystad Energy now predicts global oil demand will grow by 820,000 bbl/d in 2020, down from a December forecast of 1.1 million bbl/d.
U.S. Energy Secretary Dan Brouillette also said that while LNG prices are the lowest they've been in years, "the future is still bright for LNG."
NextDecade’s facility approved by the Department of Energy.
Budget documents said a sale from the Strategic Petroleum Reserve would help raise funds for priorities including $242 million needed to fix a Naval Petroleum Reserve site in California.