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

By September 20, 2023May 21st, 2024No Comments

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.

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Shell pushes ahead with CCS in Southern North Sea

  • 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.

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ExxonMobil enters into an agreement with CF Industries for enabling low carbon ammonia

  • 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.

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AstraZeneca advances UK clean heat and energy efficiencies with £100m commitment

  • 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.

TSMC moves ups renewable energy target by 10 years

  • 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.

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