Energy Transition

Chevron Corp. suffered a backlash on Wednesday during the annual meeting as a shareholder proposal was overwhelmingly approved for the energy major to reduce the emissions of its customers, aka Scope 3. According to a preliminary tally of the vote, 61% were in favor of the nonbinding proposal to reduce Scope 3 emissions, which Chevron…

Oilsands specialist Suncor Energy Inc. committed Wednesday to cut 10 million tons (mt) or 34% of its 29 mt/year greenhouse gas emissions by 2030 as a step toward the Canadian government’s target of national net zero in 2050. The move coincides with investor enthusiasm for operators around the world to move toward net-zero emissions. It…

Achieving the decarbonization goals outlined by the Biden administration requires a thoughtful, deliberate transition that takes into consideration reliability, affordability and portability. But, unintended consequences that an outright ban on certain resources may bring also need to be examined, oil and natural gas executives said last week. Executives from the Alliance to Save Energy (ASE),…

A hedge fund launched only last year proved to be the little Engine No. 1 that could on Wednesday, winning at least two seats on the ExxonMobil board. The upstart hedge fund, which controls only 0.02% of the shares, last year began a quest to force change at the Irving, TX-based supermajor. In January, it…

Air France-KLM Group’s Flight 342 completed its first long-haul flight powered by sustainable aviation fuel (SAF) from Total SE’s 16% biofuel blend produced from used cooking oil.  Air France Flight 342 departed from Groupe ADP’s Paris-Charles de Gaulle airport in France for Montreal, Canada with its tanks filled with SAF produced in Total’s La Mède…

With more than 66% of oil and gas companies preparing to fundamentally reinvent business over the next three years, those proposing the most radical transformations may see double the revenue and margin growth compared to those least committed to change, according to a new report. The report, “Necessity is the Mother of (Re)invention” from Accenture…

Surveys show that 80% of NW Natural’s residential customers prefer natural gas for heating and cooking, CEO David Anderson said Wednesday. Anderson spoke at a virtual forum sponsored by the American Gas Association (AGA). “More than 80% of those surveyed said they would pay $50,000 more for a median-priced home with gas appliances over an…

The Los Angeles City Council this month urged Gov. Gavin Newsom to initiate an accelerated plan to close the Aliso Canyon natural gas storage field.  The council passed a resolution to close the Southern California Gas Co. (SoCalGas) 86 Bcf field, site of the nation’s largest methane leak in October 2015. The city council resolution…

Policy differences over greenhouse gas (GHG) emissions provided the tinder that ignited a tense public debate over a pair of seemingly mundane natural gas certificate orders during last week’s FERC meeting. A last-minute procedural move from Commissioner James Danly to amend orders on infrastructure expansions proposed by Northern Natural Gas (NNG) and Tuscarora Gas Transmission…