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Chevron backs Australia CCS research
Bulk of A$38mn commitment aimed at SLB-led project to identify CCS opportunities offshore Western Australia
CCS needs storage at scale to be profitable – TotalEnergies
Investment in CCS is a ‘permit to operate’ for oil and gas companies but not a profitable business model in the near term, says CEO Patrick Pouyanne
BP softens emissions goals in push for ‘orderly’ transition
Oil and gas major revises down scope three targets as it plans slower reductions in oil and gas production to 2030
Denmark awards licences to CCS frontrunners
TotalEnergies, Wintershall Dea and Ineos secure first exclusive licences to explore potential offshore storage sites
Deep emissions cuts drive CCUS to emerging economies – BP
India and China lead CCUS deployment under optimistic emissions reduction scenarios set out by oil major
Petronas partners with ExxonMobil on CCS projects
Agreement adds to growing list of carbon-capture alliances forged by Malaysian oil and gas company
Japanese heavyweights get behind CCS
Nippon Steel and Mitsubishi among a slew of major Japanese companies launching CCS initiatives as government sets out long-term roadmap
Shell delivers first cargo under Giignl green LNG rules
Cargo shipped from Gorgon project to Taiwan is first to verify GHG-neutral status using guidelines set by International Group of Liquefied Natural Gas Importers
Voluntary market set to embrace removals
Carbon-removal technologies to gain market share as companies fret over quality of credits generated by avoidance projects, according to Shell and BCG
Gorgon injected a third of carbon dioxide last year
Chevron-operated project injected just 1.65mn t of the 5mn t it produced
ExxonMobil Chevron Shell ConocoPhillips TotalEnergies BP Imperial Oil
Stephanie Baxter
27 January 2021
Follow @PetroleumEcon
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Oil majors face credit downgrades amid rising investor pressure

S&P has placed 13 IOCs, including ExxonMobil and Shell, on negative watch, while investment giant BlackRock warns of ‘tectonic shift’

Pressure on the oil and gas sector is rapidly accelerating as investors look to ditch companies that will not be sustainable businesses over the course of the energy transition—with two major financial institutions singling out the sector. Yesterday, 13 of the world’s largest fossil fuel companies were told their credit ratings could be downgraded within just a few weeks due to the growing risks to their businesses from the energy transition, oil price volatility and weaker profitability. US credit ratings agency S&P Global Ratings placed the companies—including ExxonMobil, Total, Chevron and Shell—on ‘credit watch’ while it consider downgrades. Credit ratings—which assess the credit ris

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A new energy order in the UAE and Saudi Arabia
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Letter on carbon: Meet America’s first CCS major
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Deal with Calpine shows oil and gas major ExxonMobil has no intention of curbing its CCS ambitions, despite US policy risks and broader scepticism over the energy transition

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