West Cumbria suffered a "once-in-a-thousand-year" flood in 2009. And then again in 2015. And 2019. No, it's not that meteorologists can't count. Climate change is.
(Bloomberg) Royal Dutch Shell Plc said its carbon emissions and oil production have peaked and will decline in the coming years as the company laid out a detailed plan for its transition to cleaner energy.In a sign of how much the petroleum industry has shifted away from its mantra of growth and exploration, Shell said its oil production will fall by 1% to 2% a year. Assuming an annual reduction on the upper end of that range, the oil major’s production would fall by 18% by the end of the decade. Output of “traditional fuels” will be 55% lower by 2030.In a wide-ranging strategy update published on Thursday, the Anglo-Dutch company set new targets for electric-car charging, carbon capture and storage, and electricity sales. It also sought to reassure investors that it could maintain returns through the energy transition, reiterating its pledge for an annual dividend increase of about 4% and the resumption of share buybacks once its net-debt target has been achieve
LafargeHolcim and Schlumberger New Energy will explore the development of carbon capture and storage (CCS) solutions. The two companies will study the .
The company has announced that it has successfully closed US$75 million of Series D equity financing, the largest private investment into point source carbon capture globally to date.