https://www.energyvoice.com/oilandgas/570944/repsol-harbour-most-aligned-with-paris-agreement/

https://carbontracker.org/reports/paris-maligned-iii/

for - adjacency - geopolitics - Russia Ukraine war - oil and gas industry destruction leading to economic collapse

adjacency - between - geopolitics - Russia Ukraine War - Oil & Gas industry - Economic collapse - drone attacks on oil refineries - adjacency relationship - Konstantin' insider news is that the economic collapse is beginning due to the significant damage that the oil & gas refinery infrastructure has been damaged by effective Ukrainian drone attacks and the Western sanctions

https://www.theguardian.com/business/2023/nov/23/companies-still-investing-too-much-in-fossil-fuels-global-energy-watchdog-says

Die großen Firmen der Fossilindustrie haben 2023 Selbstverpflichtungen zur Dekarbonisierung zurückgenommen. Im wärmsten Jahr der aufgezeichneten Geschichte haben sie an der Perfektionierung ihrer fossilen Geschäftsmodelle und an an einer weiteren Steigerung der Förderung von Öl und Gas gearbeitet. Überblicksartikel im Guardian. https://www.theguardian.com/us-news/2024/jan/03/2023-hottest-year-on-record-fossil-fuel-climate-crisis

• for: double bind - oil and gas industry committing to clean energy, oil and gas industry - Mexican standoff - SIMPOL

• comment

  • The oil and gas industry faces the dilemma of the first mover. Nobody wants to take the risk to commit
  • It's a Mexican standoff but maybe SIMPOL is the solution

• reference

  • https://simpol.org/

• for: stats - oil and gas industry - required investments in clean energy

• stats: oil and gas industry - required investments in clean energy

  • 50 % of capital expenditure by 2030 and reduction in scope 1 and 2 emissions

• comment

  • Wow, is it really possible for the industry to spend 50 % of their budget on clean energy in 7 years? This would be unprecedented, given that greenwashing is all we've ever seen in the past.

• for: stats - oil and gas industry - repurposing for clean energy

• stats: oil and gas industry - repurposing for clean energy

  • only 30 % of the energy consumed in a clean energy future within 1.5 Deg C comes from low emission fuels and technologies that benefit from oil and gas industry resources
  • this leaves a huge deficit of 70 %.

• question

  • How will the transition account for these human and technological resources?

• for: stats - oil and gas industry - fight for survival

• stats: oil and gas industry - fight for survival

  • competing oil producers will have to reach an agreement on who has the right to produce the remaining carbon budget
  • 24 million barrels a day are still produced in a 1.5 Deg C scenario but are largely uncombusted
    • 75 % of that will be used in petrochemical and other industry
    • 920 billion cubic meters of natural gas
      • 50% of this for hydrogen production

• for: stats - oil and gas industry - steep drop in production

• stats - oil and gas industry - steep drop in production

  • no new fields can be developed to meet a 1.5 Deg C scenario
  • any new developments face the certain risk of being a stranded asset
  • by 2040, 7 million less barrels of oil are produced each day to meet a 1.5 Deg C scenario

• for: stats - oil and gas industry operational emissions

• stats: oil and gas industry - operational emissions

  • 15% of all global emissions are from the production, transport and processing of fossil fuels

• for: stats - oil and gas industry - clean energy investments

• comment

  • Inclusive transformation
    • Clearly, transforming the dirty fossil fuel industry into clean energy industry requires migrating as much of those 12 million dirty energy jobs as possible. We can't alienate the fossil fuel industry.
    • the barometer to measure this paradigm shift in fossil fuel industry narrative is their investment into clean energy. Over the years, majors have acted like politicians, promising significant clean energy investment, then backsliding. There is no more time for that.

• for: stats - oil and gas industry - profit split, stats - oil and gas industry - reserves split

• stats: oil and gas industry profit split

  • 50 % to governments
  • 40 % to investments
  • 10% to shareholders and debt

• stats: oil and gas reserve splits

  • majors: 13 % production, 13 % reserves
  • National Oil Companies: 50% production, 60 % reserves

• for: IEA 2023 report - exec summary - Fossil Fuel industry, IEA 2023 report - exec summary - Oil and Gas industry

• summary

  • this is the IEA summary of the position of the Oil and Gas industry and what they must do in order to transition to a net zero world by 2050 and avert 1.5 Deg C global mean temperature.
  • it contains a lot of useful information and statistics

for: stats - oil and gas industry, stats - fossil fuel industry

• stats: oil and gas industry
• stats: fossil fuel industry
  • The fossil fuel industry's production, transport and processing operations accounts for 15% of global energy-related greenhouse gas emissions.

• for: stats - oil and gas industry, stats - fossil fuel industry

• stats - oil and gas industry

• stats - fossil fuel industry
  • Oil and gas producers account for approximately 1% of total clean energy investment
  • 60 % of that comes from 4 companies

• for: stats - oil and gas industry, stats - fossil fuel industry

• stats - oil and gas industry

• stats - fossil fuel industry
  • supplies approximately 50% of all total global energy
  • employs 12 million people directly
  • Since 2018, annual revenues average 13 trillion USD
  • revenue split
    • 50 % to governments
    • 40% to investment
    • 10% to shareholders and debt
  • Major oil companies account for 13 % of all reserves
  • National Oil Companies (NOC) account for
    • over 50% of all production
    • close to 60% of all reserves