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Oil and Gas Climate Initiative was formed in 2014 to address the issues of climate change. Initially, members from Europe, Asia, the Middle East, and Latin America formed the organization but now, the US companies- Chevron, ExxonMobil, and Occidental Petroleum will also be joining OGCI. Each new member will commit $100 million to $1 billion investment fund of OGCI whose purpose is to assist in development of emissions reduction technology.
Keeping in mind the impact of industry’s emissions on the environment, energy major, Shell informed that it has planned to keep the emissions below 0.2% by 2025. The energy giant has been involved in many initiatives related to the emissions intensity reduction. Currently, the company is deploying new technologies like infrared cameras to scan methane emissions. These programs will reduce the emissions throughout the supply chain.
British E&P major, EnQuest Plc concluded first ship-to-ship transfer at the Shetland’s Sullom Voe terminal. EnQuest transferred 500,000 barrels of crude oil with the help of the Canadian-registered shuttle tanker, The Heather Knutsen. Environmental groups in other parts of Scotland have been against the practice of ship-to-ship transfers over crude oil over potential oil spill in the sea.
US-based oil major, Chevron evaded an Ecuadorian court verdict yesterday when an arbitration tribunal trashed the $9.5 billion verdict that came out in 2011 over oil pollution dispute. Chevron-owned TexPet was held guilty of environmental pollution due to operations in Lago Agrio oilfield. The bench stated that the Ecuadorian judgment was found in violation of international public policy. The Ecuadorian judgement will henceforth not be recognized in any other country.
The Tropical Storm Gordon is affecting the production in U.S. Gulf of Mexico. Evidently, three more oil producers have pulled their employees out of the storm’s path and production has reduced by 9%.The storm which was expected to progress westward has now shifted eastward. Companies like Talos Energy Inc. Exxon Mobil Corp and Chevron Corp, on Tuesday, vacated and shut many platforms in the eastern Gulf of Mexico.
If sources were to be believed, the US unit of Petrobras has agreed to settle a lawsuit over alleged toxic emissions from its Pasadena oil refinery by paying $3.5mn. The Petrobras subsidiary will additionally pay a $350,000 penalty to the U.S. government for emitting SOx and other pollutants over permitted levels. The settlement has come at a time when the company is planning to sell the 112,229 bpd capacity refinery.
After the Indian Government’s announcement to ban single-use plastics, 19 states across India have enforced a complete ban on the use of plastics. But the implementations have been, reportedly, facing challenges and are partially obeyed because consumers cannot find any cheap replacement of the same. The Government plans of a plastic-free country by 2022 but the main problem lies in the disposal of plastic wastes.
Oil supermajor Shell has been found violating the climate pollution rules in a plant at the site in Fife, Scotland. The Scottish Environment Protection Agency (SPEA) has fined the oil firm with £40,000, citing failure to fulfill condition 4 of Greenhouse Emissions Permit. Shell publicly apologized for the technical error, stating that environmental protection is one of their top priorities.
In an attempt to reduce emissions affecting the climate, ExxonMobil Corp. plans to reduce the amount of natural gas it burns by a quarter within two years. It is reported that the efforts shall be focused on oil wells off the coast of West Africa for in that region gas produced alongside crude is routinely burned – the process called flaring – because there’s no way to haul it to markets.
Wintershall, the German oil major, and its partners have submitted the Plan for Development and Operation (POD) for Nova field in the Norwegian North Sea, to the Norwegian petroleum ministry. This latest development follows the success of Wintershall’s Maria field and acknowledges Wintershall’s expertise in subsea technology. Nova will be developed with smart engineering and environment friendly methods.
The Alaska LNG Project achieved a historic milepost today as BP Alaska and Alaska Gasline Development Corporation (AGDC) agreed to key terms of a Gas Sales Agreement, including price and volume. BP’s Alaska President has said that this is an important project for Alaska’s oil and gas industry. It also means cleaner air, more jobs and more affordable energy.
Aazhivaikal villagers have put banners demonstrating a bar on entry to ONGC and others to explore natural resources. K. Ilanthirayan, a farmers’ association leader said that no agency should be allowed to damage the ecosystem of the village. Villagers in one voice said that “The Central and State governments must value our sensitivities and should not indulge in hydrocarbon exploration in Aazhivaikal.”
Ben van Beurden, the CEO of Shell, sends out a strong message to the Follow This (Dutch Environmental Group) activists and investors that they can trust him on cutting down carbon emissions without shifting away from oil and gas. He further re-emphasized his intention for Shell to achieve greater profits from clean energy resources in the coming years.
With the objective of becoming carbon-neutral by 2050, New Zealand draws a line on the sand with a ban on offshore oil and gas exploration. Aligning with the Paris targets, this step is important to create a clean, green and sustainable future for the country. However, the opposition has termed it as “economic vandalism”.
Under the ‘environmental category’, the Emirates National Oil Company (ENOC) Group has been awarded the Roads and Transport Authority’s (RTA) Dubai Award for Sustainable Transport (DAST) 2018 in acknowledgement of its numerous sustainable projects such as introduction of PV solar powered stations and the vapour recovery system. The award has been established to further encourage enhancements in sustainable transport and public health in the UAE.
Latest data from the Britain government showed that Britain's GHG emissions fell by 3% from 2016 levels owing to decline in coal-fired power generation plants. Britain is the second largest heat-trapping gases emitter behind Germany. The report also revealed that Britain's GHG emissions have fallen 43 percent since 1990. A significant investment in renewable energy has resulted this drastic change.