Nearly two-thirds of global greenhouse gas emissions can be attributed to CO2 from fossil fuel combustion and industrial processes. A report from the Intergovernmental Panel on Climate Change (IPCC) outlines the potential for emissions to fall to 70% of the current levels over the next three decades but more needs to be done to limit […]
Latin America growing reliance on U.S. fuel exports: Part I Brazil
Latin America fuel supply hasn’t been able to meet the region’s fuel demand for the past several years mainly due to its refineries’ low utilization rates and a lack of investments in refinery upgrades and expansions. In addition, refining capacity has been insufficient in key Latin American countries. As a result, the region has been […]
ExxonMobil & Engine No. 1: Peering into a new climate for Oil & Gas
The week began with chatter on IEA’s Net Zero to 2050 Roadmap – it calls for a complete stop on upstream oil & gas investment starting this year – but is ending with a ruckus as shareholders have elected new directors opposed by the company to ExxonMobil while asking Chevron to start preparing to cut […]
Regional spotlight: Oil & Gas in Central Asia
Central Asia comprises of Kazakhstan, Turkmenistan, Uzbekistan, Afghanistan, Tajikistan, and Kyrgyzstan. Kazakhstan is the main oil producer in the region, while the rest of the region mainly produces gas led by Turkmenistan and Uzbekistan. As of 2019, the total proved reserves in the region are 31.4 billion barrels of oil and 825.8 trillion cubic feet […]
Prospects for asphalt in emerging markets
Asphalt (also known as asphalt binder) is a sticky, black, and highly viscous liquid or semi-solid form of petroleum that is found in natural deposits or produced as a refined product in petroleum refineries. Asphalt in its conventional form can be used for various applications such as the construction of highway roads, expressways, city roads, airport […]
ESG trends in refining
Environmental, Social, and Governance (ESG) issues have been all the rage in the oil and gas industry. These have impacted upstream, midstream, and downstream as we have written in the past. Refining is no exception and is facing considerable pressure. Last week, Phillips 66 and Marathon Petroleum both announced plans to partner with Southwest Airlines […]
Decarbonizing the steel industry Part II: Production and technology pathways
In the previous blog, we discussed the global CO2 emissions in the steel industry, primary and secondary production methods to produce steel, and touched on some of the key projects that can help the industry reduce its carbon footprint. In this blog, we will discuss the key drivers for decarbonization in the steel industry, competitive […]
Decarbonization initiatives in the chemical industry
The Paris Agreement’s goal to limit global warming to well below 2 °C compared to pre-industrial levels will be challenged by decarbonization of several hard-to-abate sectors. The chemical industry along with cement, iron and steel, shipping, and aviation are among the hard-to-abate sectors. Hard-to-abate sectors are highly energy-intensive sectors where fossil fuels serve as the […]
Carbon Capture Part 1: The key to decarbonization
After creating a new business unit, ExxonMobil Low Carbon Solutions in February, ExxonMobil announced plans to create a $100 billion multiuser carbon capture, utilization, sequestration, and storage (CCUS) hub in the Houston Ship Channel on the Gulf Coast of Texas in April 2021. The plan takes a collective approach to combatting climate change by leveraging […]
Growth of Carbon Neutral LNG
LNG exports have grown rapidly due to the surplus of cheap natural gas, coal-to-gas switching, and decarbonization incentives. While the potential of LNG is promising, its outlook is uncertain as its value proposition of low emissions is increasingly being challenged. Investor pressures on ESG and a push towards an energy transition are encouraging oil and […]
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