Big Oil’s climate flight
Hydrogen is key to strategy to decarbonise, with the development of ‘green’ refineries showing how it can be done
From increasing shareholder activism to shifting political tides, Big Oil has reached a tipping point in its fight against climate change. But the industry can remain resilient in the face of such strong headwinds while playing an active role in the global energy transition. In May 2021, the IEA warned that there can be no new investments in oil and gas if the world is to reach net zero by 2050. One week later, three of the world’s largest oil and gas companies—Shell, ExxonMobil and Chevron—were dealt crushing blows as boardrooms and courtrooms alike mandated they set more aggressive emission reduction targets. Praised by climate activists as a much-needed wake-up call for the industry, thes
Also in this section
28 March 2024
Investment landscape is firming up in North African country with potential to become one of the world’s major exporters
22 March 2024
German energy firm and Canada-based Pattern Energy aim to ship green ammonia to Hamburg in latest move to secure imports to Europe’s largest economy
22 March 2024
French company prepares for commercial launch of underground storage system to be deployed at green hydrogen production and consumption sites
21 March 2024
Region has competitive edge in low-carbon hydrogen, but infrastructure and export challenges are key roadblocks to overcome