Total has started producing sustainable aviation fuel
Europe IOCs claim early progress in push for low carbon
Both Repsol and Total will funnel 25pc of 2021 investments towards low carbon ventures
Europe’s integrated oil companies have moved to reassure investors over their ability to deliver the transition to a low carbon energy system, after reporting significantly higher first-quarter earnings on the back of stronger oil prices. All of the European IOC’s reported progress on investment in renewables during the first quarter, while divestments of upstream and downstream hydrocarbon assets are also gathering pace as the companies restructure their portfolios and direct capital toward low carbon assets. Total and Repsol will both invest 25pc of their overall capital expenditure into low carbon platforms in 2021, they say in the first quarter updates. “We want to keep investing, growin
Also in this section
3 September 2025
Binding CO₂ injection targets for oil and gas firms are ill-defined and very unrealistic, oil major tells London CCS summit
2 September 2025
Policymakers acknowledge crucial role for direct air capture and other removal technologies in meeting climate goals
26 August 2025
Merchant storage project off western Norway takes first CO₂ shipment, but government warns of significant cost challenges ahead for CCS
14 August 2025
Innovation is moving at pace in the direct air capture sector, but will costs fall quickly enough to make it a mainstay of the voluntary carbon market?
