Royal Dutch Shell announced on Monday plans to limit emissions of methane, a potent greenhouse gas, across its oil and gas operations.
Shell aims to maintain methane emissions intensity below 0.2% by 2025, it said in a statement, joining British rival BP, which last year set a similar goal, Reuters reported. Methane is released into the atmosphere mostly through leaks in gas infrastructure such as pumps and pipelines. The gas has a bigger impact than carbon dioxide, even though the oil and gas industry produces less methane and the gas also has a shorter lifetime. The methane target will be measured against a baseline leak rate, which is currently estimated to range from 0.01% to 0.8% across the company’s oil and gas assets, it said. The Anglo-Dutch company set out last year an ambitious plan to halve its carbon emissions by 2050, far exceeding rivals. Investors have called on the company to set binding targets to reach those goals.
In 2018, Fives confirmed its position in the category of Gold supplier and is again among the top 1% of the companies best rated by EcoVadis, a rating platform of corporate, social and environmental policies (CSR).
Energy companies are betting demand for natural gas will rise at break-neck pace for decades, undermining warnings that tackling climate change would require a rapid switch to renewable energy.
Plastics and other petrochemical products will drive global oil demand to 2050, offsetting slower consumption of motor fuel, the International Energy Agency said.
Bringing cheers to India’s graphite electrode industry, Indian government has allowed imports of pet coke, used for fuel purpose by graphite electrode industry, said an official notification from DGFT (Directorate General of Foreign Trade).
US President Donald Trump’s decision to exit the Iran nuclear deal and reinstate sanctions could cost some of Europe’s biggest companies billions.
Russian oil and gas firm Zarubezhneft Company has signed a memorandum of understanding with IDRO Oil, a subsidiary of the Industrial Development and Renovation Organization of Iran, to conduct studies on the development of Susangerd Oilfield in Khuzestan Province.