Initially, OGCI will help decarbonize multiple industrial hubs in the United States, United Kingdom, Norway, the Netherlands and China. The OGCI also aims to build on the industry's reduction in methane emissions (9 pct in 2018) and to include carbon emissions in hope that future temperature increases will not exceed 2 degrees Celsius. To complement its methane emissions-intensity target, OGCI seeks to reduce collective average carbon intensity by 2025.
The OGCI member companies -- BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Pemex, Petrobras, Repsol, Saudi Aramco, Shell and Total -- account for 32 pct of global operated oil and gas production, according to the OGCI website.
(Source: OGCI, Alex Mills, Tims Record News, 28 Oct., 2019) Contact: Oil and Gas Climate Initiative, +44 (0)203 922 0853, contact@climateinvestments.energy, www.oilandgasclimateinitiative.com
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Equinor holds a 50 pct indirect interest in the 100MW Guanizul 2A solar farm and recently signed a memorandum of understanding with Petrobras to investigate Argentina's offshore wind energy potential. (Source: Equinor, Recharge, 7 Aug., 2019) Contact: Equinor, Pal Eitrheim, VP New Energy Solutions, www.equinor.com; YPF Luz, www.ypfluz.com
More Low-Carbon Energy News Equinor , Wind, YPF Luz. ,
"If we decide to enter the game (renewable energy) we want to enter to win, we will not rush in without thinking just because other oil majors are doing so. We don't want to lose money.
"There is a lot of marketing and only a few real actions. There are people (oil companies) announcing that they are committed to 'better energies' and what have you, but if you look at the European companies, the ones that are leading announcements in renewables, the projections for the participation of renewables in their revenues in 2030 is of 1 pct, 1.5 pct tops." -- Roberto Castello Branco, CEO, Petrobras, Aug., 2019
More Low-Carbon Energy News Petrobras,
The 25 largest polluters, responsible for 50 pct of CO2 emissions, are, by descending order: China (state-owned coal production), Aramco, Gazprom, Iranian National Petroleum, ExxonMobil, Coal India, Pemex, Russia (state-owned coal production), Shell, China National Petroleum, BP, Chevron, PDVSA, Abu Dhabi National Petroleum, Poland Coal, Peabody Energy, Sonatrach, Kuwait Oil, Total, BHP Billiton, ConocoPhillips, Lukoil, Rio Tinto, Nigeria National Petroleum, and Petrobras, the only Brazilian company on the list.
The top 100 companies control most of the world's mineral rights, for oil, gas, and coal. Houston is considered the "home" of 7 of these 100 companies, followed by Jakarta, Calgary, Moscow, and Beijing.
(Source: The Rio Times, May, 2019) Contact: The Rio Times, Richard Mann, Contributing Reporter, www.riotimesonline.com
More Low-Carbon Energy News Carbon Emissions, CO2, Climate Change,
Petrobras has four wind farms in partnership, totaling 104 MW in installed capacity. The company also owns a 1.1 MW solar photovoltaic power research and development plant in Rio Grande do Norte where the operations of four types of technology are currently under evaluation.
Equinor operates three wind farms along the coast of the U.K. and is involved in offshore wind projects in the U.K., Germany and the U.S.(Source: Petrobras, Maritime Exec., 2 Oct., 2018)Contact: Petrobras , Pedro Parente, CEO, sac@petrobras.com.br, www.petrobras.com;
Equinor, www.equinor.com/en
More Low-Carbon Energy News Petrobras, Wind, Brasil Wind, Equinor,
The OGIC's billion-dollar investment arm -- OGCI Climate Investments -- supports the development, deployment and scale-up of low emissions technology. Taken together, oil and gas production by OGCI member companies represents more than a quarter of the world’s oil and gas production.
Petrobras, headquartered in Brazil, is a publicly-held company active in exploration and production, refining, marketing, transportation, petrochemicals, oil product distribution, natural gas, electricity, chemical-gas and biofuel segments. It has a presence in 19 countries and employees around 70,000 people.
(Source: Petrobras, MarEx, Others, 28 Jan., 2018)
Contact: Petrobras , Pedro Parente, CEO, sac@petrobras.com.br, www.petrobras.com;
Oil and Gas Climate Initiative, www.oilandgasclimateinitiative.com
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PEMEX' 2017-2021 Business Plan includes curbs on greenhouse gases, increasing water recycling by 60 pct to save water at its refineries, and promoting an ecological corridor in the oil rich Gulf state of Veracruz, the company said.
Pemex had a total asset worth of $415.75 billion, and was the world's second largest non-publicly listed company by total market value in 2006 and Latin America's second largest enterprise by annual revenue as of 2009, surpassed only by the Brazilian National Oil Company, Petrobras. With the value of its publicly listed shares totaling $202 billion in 2010, representing approximately one quarter of the company's total net worth. The company has a total revenue of $117.5 billion in revenue in 2014.
(Source: PEMEX, PR, CEO, Xinhua, 29 Oct., 2017) Contact: PEMEX, Jose Antonio Gonzalez Anaya, CEO, www.pemex.com/en
More Low-Carbon Energy News Pemex, CO2 Emissions, Climate Change,