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In protest against Shell’s plan to abandon parts of the giant structures in place in the British North Sea, Greenpeace activists, yesterday, boarded two Royal Dutch Shell oil platforms in the region. Photographs show two people climbing one of the giant, rusty structures and unfurling a banner which read “Clean up your mess, Shell!”. The British supermajor is currently looking for Governmental approval to abandon the steel legs of the platforms.
The annual Oil and Money conference dinner last night was stormed by Greenpeace climate activists, who branded oil majors Shell and BP as ‘Climate Criminals’. The protests happened as the Executive of the Year award was due to pass from BP CEO Bob Dudley to Shell’s Ben van Beurden. The protestors also labeled the event as a “climate crime scene”.
India’s biggest oil guzzler, IOCL has built an 850 metres long road by using 16 metric tonnes of single-use plastic waste in bitumen concrete. The downstream major has also called for ‘expression of interest’ from different parties and aggregators to regularly provide commercial amounts of such waste. IOCL officials said that the road was constructed outside the firm’s R&D facility in Faridabad on an experimental basis.
In his address to the United Nations Climate Action Summit yesterday, Prime Minister Modi emphasized on taking action on climate change issues, rather than talking. The PM announced about increasing India’s renewable energy capacity to much beyond 175 GW by 2022, and later till 450 GW. He also added that the country is working towards increasing the proportion of the biofuel blend in petrol and diesel.
The United Nations Climate Action Summit yesterday experienced an angry teenager climate change activist Greta Thunberg condemning world leaders for failing to take strong measures to combat climate change. “How dare you,” she said. “You have stolen my dreams and my childhood with your empty words,” the little climate change activist said. U.N. Secretary-General Antonio Guterres convened the summit in New York.
Ahead of its annual stakeholder dialogue event, the Oil and Gas Climate Initiative (OGCI) has kickstarted a series of initiatives to facilitate carbon capture, use and storage (CCUS) and reduce emissions. The initiative is projected to unravel huge investments in CCUS and create the necessary conditions for a CCUS industry. The OGCI is looking to double the volume of CO2 currently stored worldwide before 2030.
Australia’s clean energy regulator today said that the country has achieved its 2020 target for producing electricity from large-scale renewable energy ahead of schedule. The achievement for Australia has come despite the slow wind and solar investment, and more than a decade of climate policy uncertainty. The target first set in 2001 aimed at producing 33,000 GWh of power from large-scale renewable energy by 2020.
Chevron Corp yesterday informed about launching one of the world’s largest carbon capture and storage projects. The project involves infusing carbon dioxide into a deep reservoir under an island off Western Australia at Chevron’s Gorgon LNG project. Chevron said that approximately 3.4 to 4 million tonnes of CO2 will be buried every year after the facility reaches full capacity. Gases emitted from the Gorgon field contain at least 14% CO2.
World’s biggest listed miner and biggest coking coal producer, BHP, yesterday, said that it will commit $400 million over five years to cut emissions. BHP is first in line of miners to pledge to combat pollution caused when customers utilize its products. BHP CEO Andrew Mackenzie said that the firm would focus on developing technology to reduce emissions both inside and outside the company.
Chinese environment ministry has revealed that greenhouse gas emissions hit 12.3 billion tonnes in 2014, an increment of 53.5% from 2005. The United Nations Framework Convention on Climate Change requires Beijing to submit an official inventory to the UN on a systematic basis. Although the country has pledged to show “the highest possible ambition”, it is also looking to bring its total emissions to a peak by “around 2030”.
OPEC's secretary-general, Mohammed Barkindo, has referred to the climate change campaigners as "perhaps the greatest threat to our industry going forward". Barkindo was seemingly referring to the ongoing school strikes inspired by Swedish teenager Greta Thunberg's "Fridays for Future" movement. Barkindo continued to say, "Civil society is being misled to believe oil is the cause of climate change".
One of the largest shareholders of Exxon, Legal & General Group Plc is not satisfied with the company's stance on climate change. As a result, it has liquidated 19 of its funds from the company. Although the oil investor only owns about 0.6% of the company, so the divestment might not affect Exxon much but it will surely create immense pressure on the Irving, Texas-based firm.
Climate group, Greenpeace has ended a 12-day standstill with oil supermajor BP. Greenpeace had forced BP-contracted Transocean drilling rig to cancel on its journey to Vorlich field several times over the past week. With the campaigners blocking the track with an icebreaker ship and two inflatable launches, BP suffered a loss of over £1.5 million.
Protests from Greenpeace activists continue at Transocean’s drilling rig on Friday to prevent it from heading to a BP oilfield in the UK North Sea. A statement released by Greenpeace read how police had removed and arrested two Greenpeace activists on Thursday night. Friday saw another couple of Greenpeace activists climbing up a leg of the rig. BP has said that it is coordinating with Transocean and Scottish police.
Equinor’s report “Energy Perspectives” reveals that global climate action by energy companies to keep global warming below 2°C is not enough. The ninth edition of the report offers a global review of possible developments in the energy market towards 2050. Further, it focuses on the opportunities and challenges related to sustainable development while meeting global energy demands.
Oil and gas group, BP's annual shareholder meeting on Tuesday was disturbed by the protestors. “this is a crime scene” was the frequent noise disrupting the meeting. Shell, on the other hand, has been praised by the investors for its recent emissions policies. Both the companies are working with the shareholders to meet the 2015 Paris climate agreement. BP's overall carbon emission were the highest in 2018 in six years.
One of the world's leading LNG plant builders, Chiyoda Corp has been hit by a hurricane at its Cameron LNG project in Louisiana. This has made the Japanese trading house Mitsubishi Corp and MUFG Bank decide to help rescue the plant engineering company. The firms will assist Chiyoda with a $1.4 billion lifeline. Mitsubishi has 33.4% stakes in Chiyoda and has saved the company twice in the past.
Equinor has assured its support to the goals of 2016 Paris Agreement. The company said, "Equinor is committed to playing an active and positive role in society’s decarbonisation through engagement, technology, operations, innovation and investments. Our activities do not include direct engagement with end users of products". It has informed about its climate change targets through a statement prepared jointly with other investors participating in the Climate Action 100+ initiative.