ExxonMobil has partnered with Abu Dhabi National Oil Company (ADNOC) to build a world-scale low-carbon hydrogen and ammonia production facility in Baytown, Texas. This project, expected to be operational in 2029, will produce enough hydrogen to power millions of homes and signifies ExxonMobil’s commitment to reducing emissions and meeting the growing demand for low-carbon fuels.
Global testing and certification leader Bureau Veritas has acquired ArcVera Renewables, a prominent provider of wind, solar, and battery storage consulting services. This strategic move strengthens Bureau Veritas’s position in the rapidly growing renewable energy sector, particularly in North America, where ArcVera Renewables has a strong presence.
BP Energy Partners (BPEP), a Dallas-based investment firm, has sold MIRATECH Corp., a leading provider of emissions control solutions, to an undisclosed buyer. MIRATECH, a portfolio company of BP Natural Gas Opportunity Partners II, L.P., has achieved significant growth under BPEP’s ownership, expanding its reach across energy, data infrastructure, and marine sectors.
The global renewable fuel market is experiencing robust growth, driven by the increasing focus on reducing carbon emissions and transitioning to sustainable energy sources. This report delves into the market’s key drivers, challenges, and segmentation, highlighting the impact of AI in redefining the market landscape. The report also analyzes major market players and provides insights into future growth trends.
Shell plc is planning to reduce its oil and gas exploration and development workforce by 20% as part of a larger restructuring effort aimed at reducing emissions and costs. This move follows significant cuts in the company’s renewables and low-carbon businesses and will result in hundreds of job losses globally.
SLB, a leading oilfield service provider, has introduced a new well integrity assessment solution aimed at advancing carbon capture technology and supporting the creation of a low-carbon energy ecosystem. This solution addresses the risks associated with wells in former drilling sites, which are often used for carbon storage, by quantifying the probability and effects of potential carbon leakage. SLB’s methodology helps carbon storage developers evaluate risks, mitigate potential issues, and ensure the long-term viability of these projects.
Energy Disruptors: UNITE 2024, the world’s fastest-growing energy summit, will host CEOs from seven of Canada’s most funded cleantech companies, representing over $1 billion in investment. This unique opportunity will connect attendees with industry leaders, entrepreneurs, and futurists to accelerate the global energy transition.
Ecopetrol, Colombia’s national oil company, announced robust second-quarter 2024 results, demonstrating resilience despite external challenges including currency fluctuations, inflation, and refined product price declines. The company achieved a net income of COP 3.4 trillion and an EBITDA of COP 14.1 trillion, showcasing strong operational performance across its various business segments.
BKV Corporation, a leading energy company focused on sustainability, has announced a groundbreaking agreement to supply carbon-neutral natural gas (CSG) to Kiewit Infrastructure South Co. This sale marks a significant step forward in the energy industry’s transition to cleaner energy sources.
Despite initial concerns about a shift away from green priorities, a leaked draft of the EU’s Strategic Agenda reveals a continued commitment to climate action, energy transition, and environmental protection. The document, set to be adopted by EU leaders during their summit in Brussels, emphasizes the importance of achieving net-zero goals while also ensuring competitiveness and strategic autonomy.
