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Oil & Gas can meet 2030 net-zero target for only $600bn, quickly recouped. But it’s still not happening, warns IEA

May 22, 2023 by IEA

The IEA summarises its 33-page report “Emissions from Oil and Gas Operations in Net Zero Transitions”. The IEA says the oil and gas sector needs ÂŁ600bn up front to meet its 2030 target of a 60% reduction in emissions. That’s only 15% of the sector’s record 2022 energy-crisis windfall income. A small price increase and savings should recoup that money “quickly”, says the IEA. The IEA not only maps a way to limit the global average temperature rise … [Read more...]

Filed Under: Energy, Oil, Gas & Coal Tagged With: CCUS, CDR, electrification, emissions, flaring, gas, hydrogen, IEA, intensity, methane, NZE, offsets, oil, scenarios

The U.S. is moving faster than the EU on Methane regulations. Why?

April 27, 2023 by Ben Cahill

Ben Cahill at the Center for Strategic and International Studies takes a deep dive into U.S. and EU progress on regulating methane emissions. It’s vitally important because methane has more than 80 times the warming potential of CO2 in its first 20 years in the atmosphere. In his assessment, Cahill explains why the U.S. is likely to move much faster than the EU. Unlike the U.S., the EU is a big importer of gas so needs its rules complied with by … [Read more...]

Filed Under: Energy, Oil, Gas & Coal Tagged With: EU, flaring, gas, imports, IRA, LDAR, legislation, methane, monitoring, MRV, oil, regulations, reporting, US, venting

Five practical steps Oil & Gas can take to accelerate their energy transition

March 4, 2021 by Bart Valkhof, Pedro Gabriel Gomez Pensado and Wan Sayuti

The Oil & Gas sector has a role to play in the energy transition, and not just by winding down operations. That’s because they will, by most projections, continue to be a major part of the energy mix through to 2050. But their activities must transition too, explain Bart Valkhof, Pedro Gabriel Gomez Pensado and Wan Sayuti at the World Economic Forum. The sector must therefore work out which strategies and investments can produce the lowest … [Read more...]

Filed Under: Energy, Oil, Gas & Coal Tagged With: CCS, CCUS, efficiency, flaring, gas, investment, jobs, JustTransition, methane, oil

Five key metrics investors need to steer Oil and Gas firms into decarbonisation

December 4, 2020 by Ben Ratner and Erin Blanton

If the oil and gas industry won’t commit to meaningful strategies and milestones to decarbonise, investors must make them, say Ben Ratner at the Environmental Defense Fund and Erin Blanton at Columbia University. Already, Covid has shown how vulnerable the sector is to unexpected change. If the sector refuses to factor in rising decarbonisation ambitions and policies across the globe that vulnerability will continue for decades. At the same time, … [Read more...]

Filed Under: Energy, Oil, Gas & Coal Tagged With: BP, Chevron, ESG, flaring, gas, investors, lobbying, methane, Occidental, oil, Pioneer, Repsol

New gas-to-methanol technology OxE could end oil well “flaring”

June 13, 2019 by Nichole Liebov

Oil wells also release natural gas. But it’s burnt off on site whenever the economics of collecting and piping it don’t add up (gas can’t use the existing petroleum infrastructure). What if it could be converted into methanol, says Nichole Liebov at the University of Virginia. She describes a new process called oxyesterification (OxE) that converts methane (the main constituent of natural gas) into methanol cost effectively at low temperatures … [Read more...]

Filed Under: Energy, Oil, Gas & Coal Tagged With: CO2, emissions, flaring, gas, methane, methanol, oil

IEA clean energy progress report: Only 7 technologies/sectors on track, 38 not

June 5, 2019 by IEA

Of the 45 energy technologies and sectors assessed in the IEA’s latest Tracking Clean Energy Progress (TCEP) report, only 7 are on track with the IEA’s Sustainable Development Scenario (SDS). It’s their latest and most comprehensive assessment of clean energy transitions. “On track” includes energy storage, EVs and solar PV. But buildings, car, flaring and methane emissions are still rising. This year’s TCEP puts much greater emphasis on … [Read more...]

Filed Under: Climate policy, Energy, Innovations Tagged With: buildings, EVs, flaring, IEA, methane, solar, storage, transport

Most read this week

  • U.S. Inflation Reduction Act: one year on, a summary of impressive progress in the energy transition by Hannah Perkins | posted on September 19, 2023
  • Oil & Gas business is fatally flawed: Russia-Ukraine only delayed the relentless decline in prices by Clark Williams-Derry | posted on September 21, 2023
  • 10 Carbon Capture methods compared: costs, scalability, permanence, cleanness by Ella Adlen | posted on November 11, 2019
  • Sodium-ion batteries ready for commercialisation: for grids, homes, even compact EVs by Carlos Ruiz | posted on September 11, 2023
  • Affordable €25k EVs by 2025: Europe’s carmakers can do it. Instead they’re making more profitable SUVs by Transport & Environment | posted on September 22, 2023
  • Industry’s EU ETS reforms and CBAM: how firms can turn the rising cost of carbon into competitive advantage by Pablo Ruiz | posted on September 25, 2023
  • Micro-nuclear reactors: up to 20MW, portable, safer by Christina Nunez | posted on April 22, 2021
  • Understanding the new EU ETS (Part 2): Buildings, Road Transport, Fuels. And how the revenues will be spent by Simon Göss | posted on February 6, 2023
  • Though the price shocks hurt, Renewables installed between 2021-23 saved Europe €100bn by Joe Myers | posted on September 18, 2023
  • Space-Based Solar Power: getting closer as SpaceX and Blue Origin bring down the cost of heavy-lift launches? by Matteo Ceriotti | posted on September 20, 2023
  • Concawe Symposium tackles climate and pollution as RED commits fuel companies to 29% renewable content from 2030 by Matthew James | posted on September 22, 2023
  • What’s best for Hydrogen transport: ammonia, liquid hydrogen, LOHC or pipelines? by Herib Blanco | posted on May 5, 2022
  • EU Energy Outlook to 2060: how will power prices and revenues develop for wind, solar, gas, hydrogen + more by Alex Schmitt | posted on December 6, 2022
  • Farming Algae for Carbon Capture: new research cuts “fouling.” Scale-up in 3 years? by David Chandler | posted on June 21, 2023
  • Germany plans for Carbon Capture in Industry: emissions, potentials, costs by Simon Göss | posted on September 15, 2023
  • The 10 big problems with simply replacing fossil cars with electric by Schalk Cloete | posted on December 6, 2021
  • Can Aluminium-air batteries outperform Li-ion for EVs? by Helena Uhde | posted on September 8, 2021
  • Gravity Batteries: any nation can do it at scale using rocks by Simon Read | posted on July 27, 2022
  • EU Carbon Removal Certification Framework: new rules to turn greenwashing into genuine removals by Simon Göss | posted on May 16, 2023
  • Agrivoltaics: GWs of solar power from farmland using strategically placed panels (and raising crop yields) by Joshua Pearce | posted on September 26, 2023

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  • Agrivoltaics: GWs of solar power from farmland using strategically placed panels (and raising crop yields)
  • Industry’s EU ETS reforms and CBAM: how firms can turn the rising cost of carbon into competitive advantage
  • Concawe Symposium tackles climate and pollution as RED commits fuel companies to 29% renewable content from 2030
  • Affordable €25k EVs by 2025: Europe’s carmakers can do it. Instead they’re making more profitable SUVs
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      Recent Posts

      Agrivoltaics: GWs of solar power from farmland using strategically placed panels (and raising crop yields)

      Industry’s EU ETS reforms and CBAM: how firms can turn the rising cost of carbon into competitive advantage

      Concawe Symposium tackles climate and pollution as RED commits fuel companies to 29% renewable content from 2030

      Affordable €25k EVs by 2025: Europe’s carmakers can do it. Instead they’re making more profitable SUVs

      Oil & Gas business is fatally flawed: Russia-Ukraine only delayed the relentless decline in prices

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