Australia’s AGL brings forward coal plant closures, sets 2040 net zero target for clean energy arm
AGL, Australia’s largest owner of power generation assets, will bring forward the closure dates of two coal power plants and commit to net zero emissions by 2040 for its new low carbon business, it said Thursday.
Read MoreInpex lays out 10-year plan to boost lower-carbon businesses
Japanese oil and gas operator Inpex released a long-term plan on Wednesday in which it will focus on five key “net zero businesses” the company has identified to help meet its emissions targets for 2030 and 2050.
Read MoreBP sets higher-ambition emissions targets, boosts low carbon capex share
Oil major BP has upgraded its climate targets for 2030 and 2050 and pledged a larger slice of capex for its “transition growth” businesses as the company announced on Tuesday bumper profits of $12.8 billion for 2021, its highest level in eight years due to the surge in oil and gas prices.
Read MoreAustralia’s Santos books 100 MtCO2 CCS capacity after merger
Australian oil and gas company Santos has “booked” 100 million tonnes worth of CO2 storage capacity in South Australia’s Cooper Basin, in a move the company claimed on Tuesday is the first such action taken by an operator that complies with established global industry guidelines for CO2 storage management and resource assessments.
Read MoreSumitomo Chemical wins approval for first “climate transition finance” loans
Japan’s Sumitomo Chemical has successfully arranged for two loans that meet the Japanese government’s recently designed guidelines for climate transition finance, the first such loans that have been made available to players in the chemicals sector, the company announced.
Read MoreGlobal state-owned enterprises emit 7.5 bln tonnes of CO2e annually, report says
The Scope 1 emissions of state-owned enterprises (SOEs) are responsible for the generation of at least 7.5 billion tonnes of CO2e globally every year, with emissions from Chinese SOEs, largely in the coal power sector, accounting for 69% of this total, research from an energy and climate think tank has found.
Read MoreFortescue invests in Australian firm to develop emerging green hydrogen technology
Fortescue Future Industries (FFI) has acquired an interest in an Australian company that is researching technology to produce green hydrogen with the use of sunlight and water, the green energy subsidiary of iron ore mining giant Fortescue Metals Group, has announced.
Read MoreAustralian oil and gas lobby group calls for tax and policy incentives to boost CCS, hydrogen
APPEA, Australia’s oil and gas peak body, on Monday called for the federal government to provide tax and other incentives to secure investment in CCS and fossil fuel-based hydrogen to help meet the country’s recently set net zero emissions goals.
Read MoreShell kickstarts green hydrogen play in China with start-up of 20 MW electrolyser
Oil major Shell has started operations in China of a 20 MW renewable power-to-hydrogen electrolyser, constructed as part of a joint venture with a local firm, the company announced on Friday.
Read MoreMisplaced faith in long cycle bullishness for oil market risks stranded assets, value destruction, report warns
Oil and gas companies should resist the temptation to respond to rebounding oil demand and prices by sanctioning high-cost, long-cycle projects based on a bet that the current bullish investment environment will be prolonged, a report released on Thursday has argued.
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