By John Browne (Bloomberg Opinion) -- When it comes to climate change, I have always been a believer: not in hand-wringing debate, not in unrealistic solutions like the elimination of hydrocarbons, but in the power of action. In 1997, as chief executive of BP, I was the first leader of a major oil company to acknowledge that climate change was a problem, and that the … [Read more...]
Statoil Drops the ‘Oil’: Shareholders Approve Name Change to Equinor
Shareholders of Norwegian energy giant Statoil have approved a proposal to change the company’s name from Statoil ASA to Equinor ASA reflective of the company's (and Norway's) growing focus on green energy. During annual general meeting (AGM) of shareholders held Tuesday, Statoil shareholders voted in favor of the board of directors’ proposal to change the company name to … [Read more...]
United States’ First Floating Wind Farm Could Be Coming to Northern California
An offshore wind farm proposed for off the coast of Northern California could become the first in the United States to use floating wind turbines. On Tuesday, the Redwood Coast Energy Authority, a local agency responsible sustainable energy initiatives in parts of northern California, announced it has selected a consortium of companies to enter into a public-private … [Read more...]
Big Oil Is Investing Billions to Gain a Foothold in Clean Energy
By Anna Hirtenstein (Bloomberg) -- The world’s biggest oil companies are closing more clean energy deals as pressure to diversify their businesses mounts and growth accelerates among green technologies. Oil majors more than doubled the number of acquisitions, project investments and venture capital stakes, to 44 in 2016 from 21 the year before, according to research … [Read more...]
Shell Plans to Spend $1 Billion a Year on Clean Energy by 2020
By Rakteem Katakey (Bloomberg) -- Royal Dutch Shell Plc plans to spend as much as $1 billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates. “In some parts of the world we are beginning to see battery electric cars starting to gain consumer acceptance” while wind and solar costs are falling fast, Shell CEO Ben Van … [Read more...]