This Week in The Energy Sector – 12th to 18th Sept

BP boss Bernard Looney steps down, but BP sticks to Energy Transition Strategy, interim CEO says

Bernard Looney, CEO of BP, has resigned following allegations of misconduct in personal relationships with colleagues.
The company confirmed that Looney was not fully transparent in his disclosures and that an investigation is ongoing. Murray Auchincloss will serve as interim CEO.
BP’s interim CEO, Murray Auchincloss, has stated that the company will not deviate from its energy transition strategy following the abrupt resignation of former CEO Bernard Looney.

Shell is moving forward with carbon capture and storage (CCS) projects in the UK Southern North Sea (SNS), receiving three licences for CCS in the region.
The move aligns with Shell’s goal of achieving net zero emissions by 2050 and allows the company to leverage its expertise in the SNS.
The divestment of upstream assets in the area may also help fund the CCS expansion.

ExxonMobil has partnered with CF Industries to store up to 2 million metric tons of CO2 per year from CF’s ammonia plant in Louisiana, helping to reduce emissions.
This agreement is part of ExxonMobil’s efforts to accelerate the world’s path to net zero emissions through carbon capture and storage technology.

AstraZeneca has committed £100m to advance clean heat and energy efficiencies in the UK.
The company has partnered with Future Biogas to establish the UK’s first unsubsidised industrial-scale supply of biomethane gas, which will reduce emissions by an estimated 20,000 tonnes CO2 equivalent per year.
AstraZeneca is also investing in energy efficiency improvements at its Macclesfield campus and aims to transition to 100% renewable energy as part of its Ambition Zero Carbon programme.

Taiwan Semiconductor Manufacturing Company (TSMC) has accelerated its renewable energy goals, aiming to use 100% renewable energy for its global operations by 2040, ten years ahead of its original target.
TSMC also increased its target for company-wide renewable energy consumption to 60% by 2030.
The company plans to have 25% of power at its fabrication sites and 100% at other facilities from renewable sources by 2030. TSMC is a member of the global renewable energy initiative, RE100.