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Petronas to expand its renewable portfolio
Nov. 5, 2020
Source: Reuters

Petronas to expand its renewable portfolio

Petronas announced to become a net-zero emitter of greenhouse gases by 2050. The Malaysian giant said it will increase its effort to reduce the emission of Scope-1 and Scope-2 greenhouse gases in the upcoming years. Earlier this year, Petronas stated that they were already looking to expand its renewable energy portfolio. The dampened demand and low oil prices due to covid-19 made the statement more firm.

Standard Bank's lending policies condemned
Oct. 16, 2020

Standard Bank's lending policies condemned

Africa's largest lender by assets, Standard Bank, has been criticised for its lending policies. The recent climate exposure report that it published reveals that it has $4 billion in loans and commitments to the coal, oil and gas sectors on its books. The bank is being called out as 4% of all its lending is to fossil fuel industries. The renewables share only 0.8% of the same.

Ithaca Energy's Jacky Installation goes 100% renewable
Aug. 18, 2020
Source: Energy Voice

Ithaca Energy's Jacky Installation goes 100% renewable

One of Ithaca Energy's offshore platforms in the North sea has become 100% powered by renewable energy. Ithaca’s Jacky installation is now fully powered by wind and solar energy. Jacky would now have relatively low emissions compared to larger assets in the North Sea. However, now more operators seek to reduce emissions through green energy and electrification of their platforms.

ExxonMobil and Global Clean Energy sign agreement for renewable diesel
Aug. 12, 2020
Source: Reuters

ExxonMobil and Global Clean Energy sign agreement for renewable diesel

U.S. oil major Exxon Mobil on Tuesday has signed an agreement with Global Clean Energy to buy 2.5 million barrels of renewable diesel per year for five years to help reduce its carbon footprint. Exxon plans to distribute the renewable diesel within California and potentially to other domestic and international markets. The renewable diesel will be sourced from Global Clean Energy’s refinery in Bakersfield, California, starting 2022.

Equinor Appoints New CEO With Oil Giant Shifting Focus
Aug. 11, 2020
Source: Reuters

Equinor Appoints New CEO With Oil Giant Shifting Focus

Equinor has appointed Anders Opedal as its new Chief Executive as the Norwegian oil and gas group looks to speed up a move into renewable energy. The new CEO, who had been Equinor’s head of technology, projects and drilling and is the first engineer to lead the company, replaces Eldar Saetre who will retire after more than 40 years at Norway’s biggest company. Opedal’s appointment is effective from Nov. 2.

HollyFrontier Cheyenne refinery conversion to layoff 200 local jobs
June 2, 2020
Source: Reuters

HollyFrontier Cheyenne refinery conversion to layoff 200 local jobs

The conversion of the Cheyenne HollyFrontier Refinery to renewable diesel production cause a loss of about 200 jobs in Cheyenne over the next 12-18 months, according to a release from the company. This conversion will cost about $125 million to $175 million. When the process is finished the Cheyenne site will produce about 90 million gallons per year of renewable diesel.

BP invests big to study green hydrogen opportunity in Australia
May 12, 2020

BP invests big to study green hydrogen opportunity in Australia

BP Australia has announced a feasibility study into an export-scale renewable hydrogen production facility in Western Australia. This will help the energy sector to understand the possibilities of using hydrogen to export renewable energy. The project will include an initial investment from BP of (AUS) $2.7 million, with another $1.7 million by Australian Renewable Energy Agency (ARENA). It has committed to releasing the results of the study to the public.

Coronavirus costs over 100,000 jobs in Clean energy industry
April 16, 2020
Source: Reuters

Coronavirus costs over 100,000 jobs in Clean energy industry

The coronavirus pandemic has been estimated to cost over 100,000 U.S. jobs in March across the clean energy industry. The estimates come as an analysis of Department of Labor unemployment claims were released yesterday by BW Research for clean energy business groups E2, the American Council on Renewable Energy and E4TheFuture. The job losses have been attributed to the stringent measures to control the new coronavirus worldwide.

India aims at doubling non-fossil fuel target to 400 GW
Sept. 24, 2019

India aims at doubling non-fossil fuel target to 400 GW

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.

Australia beats 2020 clean energy target a year ahead
Sept. 4, 2019
Source: Reuters

Australia beats 2020 clean energy target a year ahead

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.

Neste has agreed on selling its Russian retail fuel business
July 6, 2019

Neste has agreed on selling its Russian retail fuel business

Finland's Neste is selling its fuel stations to PJSC Tatneft. 75 fuel stations and a terminal in the St. Petersburg region in Russia will be sold to Tatneft. Neste is shifting its focus towards renewable and is aiming to emerge as a global leader in renewable and circular solutions, informed its CEO. 75 stations which are being transferred to Tatneft can still use Neste's brand name for up to 5 years.

Exxon turns to Clean Energy & signs a landmark contract
Nov. 30, 2018
Source: World Oil

Exxon turns to Clean Energy & signs a landmark contract

ExxonMobil has signed largest ever renewable power contract, says Bloomberg. It has signed a 12-year agreement with Denmark’s Orsted A/S and will buy 500 MW of wind and solar power in Permian Basin. Exxon has been accused and sued by investors for increasing the risk of global warming. After this, the company is shifting to clean energy for the regions where electricity demand is growing with the increase in oil production.

IOCL to set bio-CNG plants in Haryana
Sept. 28, 2018

IOCL to set bio-CNG plants in Haryana

IOCL inked Memorandum of Understanding (MoU) with state government of Haryana for setting up bio-CNG plants across the state. Using paddy straw and other agri-waste as feedstock, the first compressed biogas plant (CBP) will be established in Kurukshetra. Establishing a 100 tpd biogas plant requires an investment of about ₹35 crore and six to ten acres of land. The state government is looking forward to construct 200 CBP by 2023.

Petrobras to enter clean energy market
July 11, 2018

Petrobras to enter clean energy market

With a plan to invest in solar and on-shore wind projects in Brazil, oil major Petrobras, has joined forces with its strategic ally, Total and its renewable energy subsidiary, Total Eren. They have signed a non-binding Memorandum of Understanding (MoU) to analyze the possibilities of business development in solar and wind in Brazilian market which follows a strategic partnership agreement sealed by Total and Petrobras in February 2017.

Repsol said to end quest for Oil Growth in lieu of Clean Energy
May 18, 2018

Repsol said to end quest for Oil Growth in lieu of Clean Energy

The Madrid-based energy corporation, Repsol SA, will release a restructured business strategy a month from now that will point towards limiting oil and gas yield to current levels. Repsol is actively on the lookout to enter the renewable energy market. However, even if the company renounces growth in its hydrocarbon business, Repsol would still remain a major producer of oil and gas.

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