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Oil & Gas Climate Initiative Commits to Cutting Emissions (Int'l)
Oil and Gas Climate Initiative
Date: 2019-10-28
In London, the thirteen-member Oil and Gas Climate Initiative (OGCI) is reporting a $1 billion commitment to support the goals of the Paris Climate Accord -- including investments in carbon capture, use and storage (CCUS) and supporting carbon taxes and economic incentives aimed at reducing emissions.

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

More Low-Carbon Energy News Oil and Gas Climate Initiative ,  


Equinor Investing in Argentine Renewable Energy Market (Int'l.)
Equinor ,YPF Luz.
Date: 2019-08-09
Oslo-headquartered Norwegian oil and gas major Equinor -- fka Statoil -- reports it has entered the Argentine wind-power market with a $30 million share purchase bid for a 50 pct stake in the 120MW Canadon Leon wind farm project, which is owned and being built in Santa Cruz Province by the state controlled power company YPF Luz.

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. ,  


Notable Quotes -- Petrobras CEO on Big Oil Renewables Investments
Petrobras
Date: 2019-08-09
"About renewables, we are investing in research and we will just not invest in operational assets because it is something that requires competencies different from the oil & gas business.

"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,  


Major Mining Companies Among World's Mega Emitters (Int'l)
Climate Change
Date: 2019-05-13
In Rio de Janiero, Brazil, the Rio Times is reporting as many as 100 companies are responsible for more than 70 pct of global greenhouse gas emissions since 1988, according to data from Carbon Disclosure Project (CFP) in July 2017.

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, Equinor Explore Brazil Offshore Wind Opportunity (Int'l)
Petrobras,Equinor
Date: 2018-10-03
Petrobras reports it has inked has a MOU with Oslo, Norway-based Equinor -- fka Statoil -- to evaluate an offshore wind development in Brazil. The two companies have been researching other potential areas for cooperation including the development of renewable energy initiatives.

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,  


Petrobras Joining Oil and Gas Climate Initiative (Int'l)
Petrobras,Oil and Gas Climate Initiative
Date: 2018-01-31
In Brazil, Rio de Janeiro-headquartered Petrobras to is reporting it is joining the Oil and Gas Climate Initiative (OGCI), a CEO-led group of oil and gas companies that intends to lead the industry's response to climate change and reduce greenhouse emissions. OGCI existing members include BP, CNPC, Eni, Pemex, Repsol, Saudi Aramco, Shell, Statoil and Total.

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

More Low-Carbon Energy News GHGs,  Climate Change,  Carbon Emissions,  Petrobras,  Oil and Gas Climate Initiative ,  


Mexican Oil Giant Commits to CO2 Emissions Cuts by 2021 (Int'l)
Pemex
Date: 2017-11-01
In Mexico City, Petroleos Mexicanos (PEMEX), the state-owned oil company reports it intends to cut its carbon dioxide (CO2) emissions by 25 pct by 2021, according to a company release.

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,  


Petrobras Ethanol Asset Sale Falls $1.5bn Short of Target (Int'l)
Petrobras
Date: 2017-01-02
Following on our Oct., 26, 2016 coverage Brazilian oil and gas giant Petrobras reports that the recent sale of its ethanol and petrochemicals assets for $587 million still falls $1.5 billion short of its divestment target for the 2015-2016 period. The asset sale is aimed at slashing the company's $125 billion debt.

As part of the $587 million sale, Petrobras sold its 46 pct stake in ethanol producer Guarani SA, which was acquired for $202 million by its French partner Tereos SA, which will now own all of the company.

Petrobras also reported the sale of two petrochemical units -- Petroquimica Suape and Citepe -- to Mexican group Alpek SAB de CV subsidiaries Grupo Petrotemex SA de CV and Dak Americas Exterior SL for $385 million. Petrobras is selling off noncore assets in a bid to reduce its $125 billion debt, the largest in the global oil industry. (Source: Petrobras, MercoPress, 30 Dec., 2016) Contact: Petrobras, www.petrobras.com; Tereos, Alexis Duval, CEO, infotereos@tereos.com, www.tereos.com/en

More Low-Carbon Energy News Petrobras ,  Biofuel,  Sugar Ethanol,  Tereos,  


Petrobras Selling Nova Fronteira Ethanol Venture Stake (Int'l, M&A)
Petrobras,Fronteira Bioenergia
Date: 2016-12-19
Following on our 21 Sept. coverage, Brazilian state-owned oil giant Petrobras reports it has sealed a deal for the sale of its 49 pct stake in its Nova Fronteira Bioenergia ethanol venture to partner Sao Martinho, one of Brazil's top ethanol producers, for as much as $150 million, according to Reuters. The sale would be one of the 5 ongoing transactions approved by Brazil's Federal Auditing Court. (Source: Petrobras, Reuters, SeekingAlpha, 15 Dec., 2016)Contact: Fronteira Bioenergia, www.nfbio.com; Sao Martinho, www.saomartinho.ind.br; www.petrobras.com

More Low-Carbon Energy News Petrobras ,  Biofuel,  Sugar Ethanol,  Fronteira Bioenergia,  

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