James Noe’s Post

It is obvious that oil & gas will be source of energy at least for a foreseeable future. No sensible consumers will pay a high price for renewable or green energy unless brave politician push for it which will likely cause their leadership or seat in the parliament.

BP abandons goal to cut oil output, resets strategy "BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence" Although Oil and Gas is essential to everyday life at the moment, it will take both governments and large oil and gas producers like BP to stick to targets, reduce production and help be the driving force behind the transition of our energy grids to be more renewable and sustainable #oilandgas #BP #climatenews #energytransition https://lnkd.in/e7CAmkhk

Kaikenlaista uudelleenarviointia käynnissä. "BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. ...When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40% while rapidly growing renewables by 2030. BP scaled back the target in February last year to a 25% reduction, which would leave it producing 2 million barrels per day at the end of the decade, as investors focused on near-term returns rather than the energy transition." #energiamurros #öljyala #ilmastotavoitteet #sijoittajat https://lnkd.in/dsqrPC6s

BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40% while rapidly growing renewables by 2030. BP scaled back the target in February last year to a 25% reduction, which would leave it producing 2 million barrels per day at the end of the decade, as investors focused on near-term returns rather than the energy transition.

in more news on how 'We need the oil and gas companies for the energy transition to succeed'...

#BP’s recent strategic pivot, which significantly impacts both the energy market and sustainability targets. BP has officially abandoned its previous goal of cutting oil and gas production by 40% by 2030, opting for a more moderate approach. This marks a significant shift from their 2020 ambition, which was considered one of the most aggressive among oil majors in transitioning towards #renewable energy. Now, under CEO Murray Auchincloss, BP aims for a smaller reduction—about 25% by 2030. This recalibration aligns with increasing investor demand for short-term profitability over long-term energy transition goals. Consequently, BP plans to ramp up investments in oil and gas, particularly in the Middle East and Gulf of Mexico, while still maintaining its 2050 net-zero emissions target. The company’s strategy adjustment seems aimed at regaining investor confidence, especially as BP’s share price has lagged behind its competitors. Investors are currently more focused on immediate financial returns from traditional energy sectors than on long-term renewable growth . This shift highlights the delicate balance companies must strike between profitability and #sustainability as they navigate the #energy #transition. #OilAndGas #RenewableEnergy #ClimateAction #FossilFuel

Since oil is an essential part of the production and transportation of materials needed to expand power grids so that they could accommodate growing shares of renewables, the calls for a halt to investment in oil and gas are irresponsible, according to Al Ghais.

The President of Petrobras presented a panel on the first day of the OTC in Houston, USA.President of Petrobras, Jean Paul Prates, in a panel on energy transition at OTC 2024 The president of Petrobras, Jean-Paul Prates, declared today (5/6) that the oil and gas sector is a key player in structuring the energy transition and boosting it on a large scale. For him, international cooperation between companies and governments and financial arrangements are essential to boost decarbonization and ensure greater energy efficiency in support of the goal of emissions neutrality. "This is what I call a universal challenge. Everyone will have to collaborate and work together to achieve an energy transition that leaves no one behind – not just our workers, but also suppliers, contractors, and, especially, the communities where we operate", said Jean-Paul. The president spoke on the panel "Petrobras in the Energy Transition: Producing Low Carbon Oil and Preparing for the Future" on the first da

The African Energy Chamber has announced its highly anticipated list of #Africa’s Top 40 #MoversandShakers to Watch in 2025. The #list celebrates those at the #forefront of driving #transformative #change across the continent’s #oil, #gas and #energy #industries.

The African Energy Chamber has announced its highly anticipated list of #Africa’s Top 40 #MoversandShakers to Watch in 2025. The #list celebrates those at the #forefront of driving #transformative #change across the continent’s #oil, #gas and #energy #industries.