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This Week in The Energy Sector – 29th Aug to 4th Sept

By September 4, 2023September 6th, 2023No Comments

Staff to Strike at Chevron Australia May Disrupt 5% of Global LNC Supplies

  • Workers at two of Chevron’s major natural gas plants in Australia are set to go on strike next week, threatening up to five percent of global LNG supplies. 
  • The Offshore Alliance demands better pay, flexible rosters, and job security. 
  • Europe’s benchmark natural gas index jumped due to the impending strike, and Shell’s Prelude gas ship strike last year cost an estimated US$650 million in lost revenues. 
  • The alliance has accused Chevron of underpaying workers and warned of potential disruption to operations.

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Shell Scraps Its $100 Million-a-Year Carbon Offset Plan

  • Shell has scrapped its $100 million-a-year carbon offset plan, the largest among corporations after its CEO announced a shift in strategy to maintain current oil production until 2030. 
  • The company has not revealed new plans for carbon credits or how it will meet its climate targets.

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Tate & Lyle Celebrates 100% Renewable Energy-Powered Site

  • Tate & Lyle has achieved its goal of powering its manufacturing facility in Guarani, Brazil, with 100% renewable energy. 
  • The company aims to purchase all its energy from renewable sources by 2030 and achieve net zero emissions by 2050. 
  • Other facilities in Italy and the UK have also transitioned to renewable energy.

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Ampol to Open More Hydrogen Service Stations in Australia

  • Australia’s largest petrol retailer, Ampol, has partnered with US firm OneH2 to accelerate the use of hydrogen in the Australian market and reduce emissions from heavy transport. 
  • The move comes after rival BP opened the country’s first hydrogen refuelling facility, and a CSIRO report urged increased hydrogen investments.

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BP Says it Will Invest $3.5 Billion in Egypt Over The Next Three Years

  • The investments will go towards research, exploration and development, as well as reducing emissions and energy transition. 
  • BP has been operating in Egypt for 60 years and has invested more than $35 billion in the country, producing around 60% of its gas. 
  • The announcement came after BP’s CEO met with the Egyptian President.

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