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...The end results are taxpayer-funded hydrogen projects that in the near term have CO₂ footprints (from diesel-fuelled delivery) greater than the hydrocarbon-fuelled applications they were originally meant...
...A cost-cutting programme launched in 2019 had failed to achieve its goals, Elliott said, with a widening gap between its operating costs and that of rival Valero....
...The Stabroek project has been called the most important hydrocarbon discovery in a generation....
...So it may come as a surprise that Brazil, home to 60 per cent of the rainforest, is the world’s fifth-biggest emitter of CO₂ — with more than two-thirds of those emissions coming from agriculture, forestry...
...It was backed by several deep-pocketed investors, including BlackRock, US oil refiner Valero Energy and Poet, a top US biofuel refiner....
...The war effort is still financed by revenues from hydrocarbon sales. Further restricting and disrupting the supply of Russian oil and gas is critical....
...At issue is the public understanding about the role so-called lower-carbon fuels and carbon capture technologies, which are undeveloped at scale, could play in the shift from burning hydrocarbons to clean...
...Shell has struck a deal to sell its stake in a German refinery co-owned with Russia’s Rosneft as it continues to cut ties with Moscow and reshape its refining portfolio....
...Their co-operation became a “no-limits” partnership weeks before the invasion of Ukraine....
...In 2022 about 42mn tonnes of CO₂ were captured by carbon capture and storage infrastructure around the world, according to RFF....
...“CCS has nothing to do with the continuation of production of hydrocarbons,” says Guido Brusco, chief operating officer of natural resources at Italian energy group Eni, which is active in several CCS projects...
...Ed Simpson, head of energy and infrastructure at Gravis Capital Management, argues: “While hydrocarbons will be required for years — both for power generation and as raw materials in chemicals industries...
...The CO₂ emitted in the production is also half the global average for a barrel of oil of 18kg/b, he added....
...However Petro is seeking to wean the country off hydrocarbons....
...The offer by the United Arab Emirates’ Adnoc comes as the oil-rich emirate flexes its financial muscle, deploying years of excess hydrocarbon revenues into sectors that could help the state wean itself off...
...Yet critics argue that the UAE’s largesse also serves to greenwash its role as one of the world’s largest producers of hydrocarbons....
...Up until very recently, the country was closely aligned with Moscow and had been reluctant to shake off its dependence on Russian hydrocarbons....
...The opposition Christian Democrats have said they would not co-operate in any attempt to amend the debt rule, a move that would require a two-thirds majority in parliament....
...The Resilient Hydrocarbons division is truly resilient. Not a description that can be applied to struggling Danish renewable energy developer Ørsted....
...Venezuela is among the countries at highest risk: the country’s economy relies almost entirely on hydrocarbons, but 80 per cent of its fossil fuel revenues are at risk of being lost, according to the study...
...“These deals will set the foundation for their hydrocarbon businesses for the next decade.” Additional reporting by Stephen Gandel in New York...
...While the UAE Consensus calls for the transition away from fossil fuels to reach net zero by mid-century, it did not include language to “phase out” hydrocarbons, a demand supported by more than 100 countries...
...Abu Dhabi has sought to invest windfall hydrocarbon revenues into new sectors of the global economy, from healthcare and technology to logistics and financial services....
...“Whether we like it or not, we cannot survive without hydrocarbons as that is 85 per cent of our energy base in the UK,” he said. Government data puts this figure at 75 per cent....
...It comes as the oil-rich emirate flexes its financial muscle, deploying years of excess hydrocarbon revenues into sectors that could help the state wean itself off oil dependency.Covestro, one of Germany...
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