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Climate and Energy Benchmark in Oil and Gas Insights Report
Climate and Energy Benchmark in Oil and Gas Insights Report Partners XxxxContents Introduction 3 Five key findings 5 Key finding 1: Staying within 1.5°C means companies must 6 keep oil and gas in the ground Key finding 2: Smoke and mirrors: companies are deflecting 8 attention from their inaction and ineffective climate strategies Key finding 3: Greatest contributors to climate change show 11 limited recognition of emissions responsibility through targets and planning Key finding 4: Empty promises: companies’ capital 12 expenditure in low-carbon technologies not nearly enough Key finding 5:National oil companies: big emissions, 16 little transparency, virtually no accountability Ranking 19 Module Summaries 25 Module 1: Targets 25 Module 2: Material Investment 28 Module 3: Intangible Investment 31 Module 4: Sold Products 32 Module 5: Management 34 Module 6: Supplier Engagement 37 Module 7: Client Engagement 39 Module 8: Policy Engagement 41 Module 9: Business Model 43 CLIMATE AND ENERGY BENCHMARK IN OIL AND GAS - INSIGHTS REPORT 2 Introduction Our world needs a major decarbonisation and energy transformation to WBA’s Climate and Energy Benchmark measures and ranks the world’s prevent the climate crisis we’re facing and meet the Paris Agreement goal 100 most influential oil and gas companies on their low-carbon transition. of limiting global warming to 1.5°C. Without urgent climate action, we will The Oil and Gas Benchmark is the first comprehensive assessment experience more extreme weather events, rising sea levels and immense of companies in the oil and gas sector using the International Energy negative impacts on ecosystems. -
Integrating Into Our Strategy
INTEGRATING CLIMATE INTO OUR STRATEGY • 03 MAY 2017 Integrating Climate Into Our Strategy INTEGRATING CLIMATE INTO OUR STRATEGY • 03 CONTENTS Foreword by Patrick Pouyanné, Chairman and Chief Executive Officer, Total 05 Three Questions for Patricia Barbizet, Lead Independent Director of Total 09 _____________ SHAPING TOMORROW’S ENERGY Interview with Fatih Birol, Executive Director of the International Energy Agency 11 The 2°C Objective: Challenges Ahead for Every Form of Energy 12 Carbon Pricing, the Key to Achieving the 2°C Scenario 14 Interview with Erik Solheim, Executive Director of UN Environment 15 Oil and Gas Companies Join Forces 16 Interview with Bill Gates, Breakthrough Energy Ventures 18 _____________ TAKING ACTION TODAY Integrating Climate into Our Strategy 20 An Ambition Consistent with the 2°C Scenario 22 Greenhouse Gas Emissions Down 23% Since 2010 23 Natural Gas, the Key Energy Resource for Fast Climate Action 24 Switching to Natural Gas from Coal for Power Generation 26 Investigating and Strictly Limiting Methane Emissions 27 Providing Affordable Natural Gas 28 CCUS, Critical to Carbon Neutrality 29 A Resilient Portfolio 30 Low-Carbon Businesses to Become the Responsible Energy Major 32 Acquisitions That Exemplify Our Low-Carbon Strategy 33 Accelerating the Solar Energy Transition 34 Affordable, Reliable and Clean Energy 35 Saft, Offering Industrial Solutions to the Climate Change Challenge 36 The La Mède Biorefinery, a Responsible Transformation 37 Energy Efficiency: Optimizing Energy Consumption 38 _____________ FOCUS ON TRANSPORTATION Offering a Balanced Response to New Challenges 40 Our Initiatives 42 ______________ OUR FIGURES 45 04 • INTEGRATING CLIMATE INTO OUR STRATEGY Total at a Glance More than 98,109 4 million employees customers served in our at January 31, 2017 service stations each day after the sale of Atotech A Global Energy Leader No. -
Quarterly Analyst Themes of Oil and Gas Earnings
Quarterly analyst themes of oil and gas earnings Q2 2021 ey.com/oilandgas Overview The recovery of oil and gas commodity markets and underleveraged and begin to return even more improved company performance continued in the cash to shareholders. As companies grapple with second quarter of 2021 with oil demand and OPEC+ low unlevered returns on renewable energy discipline resulting in a steady reduction in investments relative to oil and gas projects, the inventories and an increase in crude oil prices. matter of gearing is likely to re-emerge. Brent crude averaged US$69/bbl in the second On capital spending, analysts were interested in quarter, up 13% from the previous quarter and companies’ response to the improving macro- twice the average a year ago. Henry Hub averaged environment, specifically whether the companies US$2.95/mmBtu, down from US$3.50/mmBtu in were considering mobilizing additional upstream the first quarter as prices normalized after the investment with commodity prices returning to pre- extreme cold, but were up 50% from the beginning COVID-19 levels. Supply chain interruptions, labor to the end of the quarter, a trend that has market shortages and inflation concerns have continued into Q3. International gas markets begun to take center stage in economic news, and strengthened with northern Asia LNG prices oil and gas industry analysts checked for signs of averaging nearly US$10/mmbtu in 2Q21, driven by pricing pressure in the market for materials and strong growth in Chinese power demand, European services upstream and indications of how inventory rebuild and reduced hydroelectric output companies plan to offset the impact. -
Oil and Gas News Briefs, July 26, 2021
Oil and Gas News Briefs Compiled by Larry Persily July 26, 2021 Saudis want to be ‘last man standing’ as oil demand declines (Bloomberg; July 21) – Saudi Energy Minister Prince Abdulaziz bin Salman’s decisions after flying home from a tumultuous OPEC meeting in Vienna in March 2020 exposed a new Saudi policy — bolder, defiant of a growing global consensus on climate change, and more controlled by the royal family. They also reflected what Abdulaziz sees as his destiny: To ensure that the last barrel of oil on Earth comes from a Saudi well. As he said at a private event in June, according to a source, “We are still going to be the last man standing, and every molecule of hydrocarbon will come out.” All of this has huge implications for world energy markets. Abdulaziz, the first member of the royal family to be the kingdom’s energy minister, is the most important person in the oil market today. But a rancorous OPEC+ meeting in July showed just how difficult it’s going to be for him to consistently get his way in an era when oil-producing nations — their self-interests often in conflict — are contemplating a future of declining oil demand. Saudi Arabia’s power is under threat as the world seeks to move away from oil and other fossil fuels. Beneath the kingdom’s desert there are about 265 billion barrels of oil, worth almost $20 trillion at current prices. It’s a massive prize, but one that may be worthless someday if the global economy figures out how to keep churning without oil. -
Sustainable Energy Transition: Opportunities Abound
1 PERSPECTI VE Sustainable energy transition: opportunities abound July 2021 For investment professionals only 2 On 18 May 2021, the International Energy Agency THE UTILITIES SECTOR IS ON THE RIGHT TRACK (IEA) published its report “Net Zero by 2050. A Utility companies are setting themselves apart from oil and Roadmap for the Global Energy Sector”. The IEA was gas companies in a positive sense. This is partly due to market established in 1974 as the oil sector watchdog of differences, other shareholders and more stringent Western countries. Over the past 47 years, this regulations. agency has mainly been considered a strong The table below shows that this does not necessarily affect supporter of fossil fuels. This is precisely why its returns. The table shows returns versus the capital employed. report came as a big surprise to the oil sector, While this is only one variable and the companies shown differ politicians, climate activists and investors alike. The in size, financial strategy, activities, etc., it does show that report outlines how carbon emissions could be there are opportunities to maintain returns on investments in sustainable activities. reduced to zero by 2050. That goal can be seen as a 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 GEM necessary condition for complying with the Paris O&G Royal Dutch Climate Agreement, which aims to limit global -6.87 6.68 9.13 5.50 2.58 1.73 6.81 7.65 12.95 15.68 11.46 8.02 6.78 Shell PLC o TotalEnergies warming to 1.5 C (above pre-industrial levels). -
Joint Stewardship of the Barents Sea: Russian and Norwegian Policy Expectations for Preventing Offshore Oil Spills
Joint stewardship of the Barents Sea: Russian and Norwegian policy expectations for preventing offshore oil spills Item Type Thesis Authors Bouffard, Troy J. Download date 04/10/2021 20:10:16 Link to Item http://hdl.handle.net/11122/6818 JOINT STEWARDSHIP OF THE BARENTS SEA: RUSSIAN AND NORWEGIAN POLICY EXPECTATIONS FOR PREVENTING OFFSHORE OIL SPILLS By Troy J. Bouffard, B.A. A Thesis Submitted in Partial Fulfillment of the Requirements for the Degree of Master of Arts in Arctic and Northern Studies © Troy J. Bouffard APPROVED: Brandon M. Boylan, Committee Chair Mary F. Ehrlander, Committee Member Brian Kassof, Committee Member Mary F. Ehrlander, Director Arctic and Northern Studies Program Todd Sherman, Dean of the College of Liberal Arts Michael A. Castellini, Interim Dean Graduate School Abstract As Arctic environmental conditions fluctuate, ongoing economic-related agreements established for the Barents Region continue to support and attract Norwegian and Russian oil- producing expeditions within the shared maritime zone. Increased industrial activity throughout the Circumpolar North heightens the need to understand the factors that influence policies responsible for protecting the environment - in particular, preventive measures. Agency theory provides the framework for an analysis of various dynamics that influence the Norwegian and Russian governments (principals) as they develop and enforce rules that regulate petroleum industries (agents). The research question asks about differences between the prevention policies of the two nations even though both acknowledge a very similar need to protect the Barents. Since the regulatory and governance structures cannot fully explain the differences between the two countries’ prevention policies, the hypothesis presents an argument that the strategic goals of Norway and Russia in the global political economy provide sufficient conditions for policy divergence. -
2020 Annual Report
Online Annual Report Gazprom Neft Performance review Sustainable 2020 at a glance 62 Resource base and production development CONTENTS 81 Refining and manufacturing 4 Geographical footprint 94 Sales of oil and petroleum products 230 Sustainable development 6 Gazprom Neft at a glance 114 Financial performance 234 Health, safety and environment (HSE) 8 Gazprom Neft’s investment case 241 Environmental safety 10 2020 highlights 250 HR Management 12 Letter from the Chairman of the Board of Directors 254 Social policy Technological Strategic report development Appendices 264 Consolidated financial statements as at and for the year ended 31 December 2020, with the 16 Letter from the Chairman of the Management Board 122 Innovation management independent auditor’s report About the Report 18 Market overview 131 2020 highlights and key projects 355 Company history This Report by Public Joint Stock Company Gazprom Neft (“Gazprom 28 2020 challenges 135 Import substitution 367 Structure of the Gazprom Neft Group Neft PJSC”, the “company”) for 2020 includes the results of operational activities of Gazprom Neft PJSC and its subsidiaries, 34 2030 Strategy 370 Information on energy consumption at Gazprom collectively referred to as the Gazprom Neft Group (the “Group”). 38 Business model Neft Gazprom Neft PJSC is the parent company of the Group and provides consolidated information on the operational and financial 42 Company transformation 371 Excerpts from management’s discussion and performance of the Group’s key assets for this Annual Report. The analysis of financial condition and results of list of subsidiaries covered in this Report and Gazprom Neft PJSC’s 44 Digital transformation operations interest in their capital are disclosed in notes to the consolidated Governance system IFRS financial statements for 2020. -
Preliminary Calculation of the EROI for the Production of Crude Oil and Light Oil Products in Russia
Sustainability 2014, 6, 5801-5819; doi:10.3390/su6095801 OPEN ACCESS sustainability ISSN 2071-1050 www.mdpi.com/journal/sustainability Article Preliminary Calculation of the EROI for the Production of Crude Oil and Light Oil Products in Russia Alexander Safronov and Anton Sokolov * Laboratory of Geology of Oil and Gas Fields, Institute of Oil and Gas Problems SB RAS, Oktyabrskaya 1, Yakutsk 677980, Russia; E-Mail: [email protected] * Author to whom correspondence should be addressed; E-Mail: [email protected]; Tel.: +7-4112-390-620. Received: 14 May 2014; in revised form: 25 July 2014 / Accepted: 25 August 2014 / Published: 1 September 2014 Abstract: Russia is one of the world’s largest producers of energy resources. The production of energy resources in Russia is profitable both economically and in terms of energy production. Currently, Russian oil and gas companies have a policy of increasing energy efficiency, which will led to an increase in the energy return on investment (EROI) of both oil and gas production as a whole, and of separate companies in particular. By our calculations, the EROI for oil production in Russia differs for the different companies, and in 2012 was in the range of 22–35:1. The EROI for light oil products in 2012 was in the range of 5–13:1. Keywords: EROI; oil production; Russia 1. Introduction Over the last 110 years, the annual consumption of energy resources in the world has increased 20 times from 0.6 in 1900 to 12.4 billion tons of oil equivalent (toe) in 2012 [1,2]. -
10.30% Pa JB Callable Multi Barrier
INDICATIVE KEY INFORMATION – 26 JULY 2021 1/10 10.30% P.A. JB CALLABLE MULTI BARRIER REVERSE CONVERTIBLE (65%) ON REPSOL SA, TOTALENERGIES SE, ROYAL DUTCH SHELL PLC (the "Products") SSPA SWISS DERIVATIVE MAP© / EUSIPA DERIVATIVE MAP© BARRIER REVERSE CONVERTIBLE (1230) CONTINUOUS BARRIER OBSERVATION – CASH SETTLEMENT – EUR – QUARTERLY CALLABLE This document is for information purposes only and until the Initial Fixing Date the terms are indicative and may be amended. A Product does not constitute a collective investment scheme within the meaning of the Swiss Federal Act on Collective Investment Schemes. Therefore, it is not subject to authorisation by the Swiss Financial Market Supervisory Authority FINMA ("FINMA") and potential investors do not benefit from the specific investor protection provided under the CISA and are exposed to the credit risk of the Issuer. I. Product Description Terms Swiss Security 112475275 Coupon 10.30% p.a. Number (Valor) Initial Fixing Date: 29 July 2021, being the date on which the ISIN CH1124752754 Initial Level and the Strike and the Barrier are fixed. Symbol MEQVJB Issue Date/Payment Date: 05 August 2021, being the date on which the Products are issued and the Issue Price is paid. Issue Size up to EUR 20,000,000 (may be increased/ decreased at any time) Final Fixing Date: 29 July 2022, being the date on which the Final Level will be fixed. Subscription Period 26 July 2021 – 29 July 2021, 16:00 CET Last Trading Date: 29 July 2022, until the official close on the SIX Swiss Exchange, being the last date on which the Products Issue Currency EUR may be traded. -
Key Determinants for the Future of Russian Oil Production and Exports
April 2015 Key Determinants for the Future of Russian Oil Production and Exports OIES PAPER: WPM 58 James Henderson* The contents of this paper are the authors’ sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its members. Copyright © 2015 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-78467-027-6 *James Henderson is Senior Research Fellow at the Oxford Institute for Energy Studies. i April 2015 – Key Determinants for the Future of Russian Oil Production and Exports Acknowledgements I would like to thank my colleagues at the OIES for their help with this research and to those who also assisted by reviewing this paper. In particular I am very grateful for the support and comments provided by Bassam Fattouh, whose contribution was vital to the completion of my analysis. I would also like to thank my editor, Matthew Holland, for his detailed corrections and useful comments. Thanks also to the many industry executives, consultants, and analysts with whom I have discussed this topic, but as always the results of the analysis and any errors remain entirely my responsibility. ii April 2015 -
Notice of Meeting COMBINED SHAREHOLDERS' MEETING 2021 Friday May 28, 2021 at 10:00 Am As a Closed Session at the Company's Registered Office
Notice of meeting COMBINED SHAREHOLDERS' MEETING 2021 Friday May 28, 2021 at 10:00 am As a closed session at the Company's registered office Documents covered by Article R. 225-81 of the French Commercial Code SUMMARY 3 MESSAGE from the Chairman and CEO 4 AGENDA of the Combined Shareholders' Meeting 5 How to VOTE 9 2020 RESULTS Key figures and outlook 14 COMPOSITION of the Board of Directors of TOTAL SE 16 Board of Directors’ report on the proposed RESOLUTIONS 29 Proposed RESOLUTIONS 02 I TOTAL Combined Shareholders’ Meeting 2021 MESSAGE from the Chairman and CEO Dear Madam/Sir, Dear Shareholders, For the second year running, your Annual Shareholders’ Meeting will be held in a closed session at the Company headquarters on Friday, May 28, 2021 at 10 am. We have no other choice, given that the emergency health situation owing to the Covid-19 pandemic has been extended until June 01, and that the ultimate priorities are to ensure that you are not exposed to any health risks, and to guarantee everyone equal access to the Shareholders’ Meeting. In 2020, your commitment to supporting the resolutions approved by your Board of Directors and your high level of participation (over 500 questions asked ahead of the Shareholders’ Meeting and live), proved that shareholder democracy thrives in your Company. Once again this year, we are doing our utmost to make remote attendance easy for you: Ý Ahead of the Shareholders’ Meeting, we invite you to vote either via Internet using the simple and secure system, or via postal mail. -
NIS Leaflet (April 2011) Environnis - Complex Ecological Examination of Naftna Industrija Srbije (NIS) Production Facilities
EnvironNIS Leaflet (April 2011) EnvironNIS - Complex ecological examination of Naftna industrija Srbije (NIS) production facilities Objectives and scope • site investigations – groundwater, soil, hazardous The project EnvironNIS was conducted by Steinbeis waste storage area, air status, waste water Advanced Risk Technologies (www.risk-technologies.com) • evaluation of the actual environmental status for and D’Appolonia S.p.A (www.dappolonia.it), both members each facility. of EU-VRi (www.eu-vri.eu), based on the Service Agreement Phase 2: Assessment of potential environmental risks with Petroleum Industry of Serbia, NIS (www.nis.rs), resulted • impacts on subsoil and groundwater quality due from the open tender in July 2009. possible accidental releases of chemical substances • possible exceeding of the legislation limits Objectives of the project • possible obligations related to remediation and/or • assessment of environmental status, risks and clean-up needs. management system Phase 3: Assessment of facility environmental management • and development of corrective actions for the system improvement of the environmental status and the reduction of the ongoing environmental risks and • analysis of local and international legislative liabilities. requirements Assessment has included twelve facilities of NIS and their • evaluation of the environmental management potential effects on the environment system. • two oil refineries and one gas refinery Phase 4: Development of instructions for improvement of • two petrol stations environmental status and reduction of risks • two tank farms • two service units Start of the project: July 2010 • two gas/oil dispatch stations End of the project: January 2011 • one storage station for LPG. Deliverables Extremely demanding reporting procedure has resulted with • one intermediate report Dispatch station for selected facilities with proposal of preliminary defined corrective or mitigation actions • 24 final reports Dispatch one report for each of 12 facilities in English and station Serbian language.