BP Looking to Hydrogen Expansion to ‘Reinvent’ Natural Gas
“BP’s own analysis shows that hydrogen could have more than a 15% share in total global energy consumption by 2050,” Sanyal said. “So whatever way you look at it, hydrogen has a big role to play.” “Importantly, the production of blue hydrogen helps overall global supplies of hydrogen to grow relatively quickly,” Sanyal said, “without relying too heavily on renewable energy, which needs time to gain a significant share of the overall energy mix.”
Shell, Exxon Look to Profit From Capturing Customers’ Carbon Emissions
Big oil companies are exploring charging for carbon storage, hoping to benefit from the drive to reduce emissions. Executives say the service could become a new source of income when the industry is grappling with how to adapt to a lower-carbon economy.
Aramco Sees Major Hydrogen Market Forming Amid Historic Pressure Test for Big Oil
“Hydrogen is real,” Aramco Chief Technology Officer Ahmad Al Khowaiter told CNBC in an interview Sunday, after a day of presentations from Aramco executives and industry partners to highlight the oil giant’s hydrogen initiatives. “Today we’re showing that the technologies for the use of hydrogen are mature and commercially available… and we see this kind of as an inflection point in the market for hydrogen,” Al Khowaiter said.
Shell 2050 Net Zero Carbon. Includes Plan for Hydrogen and Carbon Capture Sequestration
Shell’s target is to become a net-zero emissions energy business by 2050, in step with society’s progress in achieving the goal of the UN Paris Agreement on climate change. READ MORE.
Chevron $3B in Carbon Reduction, Renewables and Offsets, 10% of Employee Variable Pay Linked to Their Energy Transition Strategy
Additional oil and gas supply will be needed to meet rising energy demand over the next 20 years— including in scenarios aligned with the Paris Agreement and UN Sustainable Development Goals. The International Energy Agency’s (IEA’s) Sustainable Development Scenario (SDS) projects that oil and gas will make up nearly half of global energy supply in 2040. READ MORE.
Kinder Morgan Forms New Energy Transition Ventures Group
Kinder Morgan Inc. has formed a new Energy Transition Ventures group to identify and pursue commercial opportunities within the low-carbon sector. The company is one of the biggest in the oil and gas infrastructure sector, with close to 85,000 miles of pipelines and 144 terminals either under ownership or interest, according to reports. READ MORE.
Total Net Zero Emission by 2050, Devote 20% of Capital Expenditures to Low-Carbon Electricity by 2030
Total announces today its ambition to get to net-zero emissions by 2050 together with society for its global business across its production and energy products used by its customers.
Through a joint statement developed between Total S.A. and institutional investors – as participants in the global investor initiative Climate 100+. READ MORE
ExxonMobil Estimates Carbon Capture Sequestration will be a $2 Trillion Market by 2040
The company is advancing plans for >20 new CCS opportunities. They are currently number one in CO2 capture and number 2 in CO2 pipelines and C02 geological storage. ExxonMobil estimate hydrogen will be a $1 trillion market by 2040. They are currently producing 1.3 Mta and looking to scale.
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