We look at results from key races and what a divided Congress would mean for a Biden presidency, on this week’s Political Climate. Americans are waiting with bated breath for the results of a long and contentious election. At the time of publication, former Democratic Vice President Joe Biden looks poised to take the White […]
US energy chiefs weigh what Biden means for oil, renewables
With Joe Biden inching close to an Electoral College victory, energy executives are weighing the potential impact of a president who supports shifting away from fossil fuels. While utilities that already embrace clean energy don’t see much impact, oil and natural gas suppliers are girding for a bigger threat. If he wins, Biden may halt […]
OPEC doesn’t see peak oil demand
PARIS: The coronavirus crisis has sparked talk that the world might have reached peak oil demand but the OPEC group sees crude consumption continuing to grow during the next quarter century, driven in large part by greater use of cars in developing countries. In its latest forecasts, released on Thursday, OPEC sees surprisingly little […]
How BP Plans to Make Oil-Like Returns From Renewables
The oil major wants to make returns of 8 to 10 percent from renewables projects as it chases a 50-gigawatt target for 2030. The shift to low-carbon energy will transform oil companies, and BP wants to be at the vanguard of the industry in making those changes, having set a net-zero target for 2050 earlier […]
After Oil: U.S.-China Split Will Hurt Clean Energy
Beijing was driving the growth of renewables — then Trump’s trade war and the coronavirus hit. This is the first column in a series on how the coronavirus epidemic has affected the global shift to sustainable energy. The search for silver linings to the coronavirus pandemic has come up woefully short. But one hopeful — […]
Chevron Is Installing Solar Panels — To Produce Oil More Cheaply
In California’s sun-drenched Kern Valley, Chevron Corp. has found a way to use one of the state’s clean-energy programs to cut the cost of pumping oil, to the chagrin of some environmentalists. Since April, solar panels have been powering oil pumps at Chevron’s Lost Hills 7,981 barrel-a-day oil field, according to the company. The 29-megawatt […]
Mexico cites virus in slapping down renewable energy
Industry associations said it will affect 28 solar and wind projects that were ready to go online, and 16 more under construction, with a total of dollar 6.4 billion in investments, much of it from foreign firms Mexico City: The Mexican government has cited the coronavirus pandemic as a justification for new rules that will […]
Govt hikes excise duty on petrol, diesel to garner Rs 1.6 lakh crore
Retail prices of petrol and diesel will not be impacted by the tax changes as state-owned oil firms will adjust them against the recent fall in oil prices, industry officials said. New Delhi: The government on Tuesday evening hiked excise duty by a record Rs 10 per litre on petrol and Rs 13 per litre […]
Shell and BP Slash Spending but Renewables Largely Spared
Two of the world’s oil supermajors suggested this week that oil demand may never fully recover from the coronavirus crisis. Shell just did the thing CEO Ben van Beurden said no leader of the company would ever want on their record: cut its shareholder dividend for the first time since World War II. In slashing […]
Repsol starts building first solar farm with workers spaced apart
Traditionally fossil fuel-focused European energy firms are buying or building clean energy plants as part of ambitious targets to cut global emissions MADRID: Construction teams have started building oil and gas firm Repsol’s first solar plant, observing strict distancing measures due to the coronavirus, the company said on Wednesday. Traditionally fossil fuel-focused European energy firms […]
