WorldOil Maersk Drilling targets 50% CO2 emissions reduction by 2030 Maersk Drilling has set an ambitious target of lowering the intensity of CO2 emissions from its drilling operations by 50% by 2030. The target is supported by Maersk Drilling’s strategic focus on efficiency gains, which also leads to reduced CO2 emissions. Environmental groups warn Alaska drillers not to pursue ANWR leases “Any company that bids on leases or expresses interest in destroying the Arctic Refuge for oil will face a major public backlash and long-lasting damage to their reputation,” warned the groups, including the Wilderness Society, Natural Resources Defense Council and Sierra Club. BP’s annual energy outlook calls oil demand peaking by 2030 BP's 2020 Energy Outlook sees oil consumption topping out not much higher than it is now: around 100 million barrels of oil per day, the same level as last year. In scenarios involving dramatic action by governments to limit climate change, BP determines that demand has already peaked. The pandemic and green energy leave oil’s supermajors at a crossroads Legacy energy companies are for the first time sketching out new strategies that in the near future—as soon as 2030, in some cases—would eliminate hydrocarbons. The industry would like everyone to believe it’s turning its back on fossil fuels for the good of the planet; however, the reality is that Big Oil has been forced to change by green campaigners, local politicians, and pension funds. More hydrogen, less meat: EU’s new climate plan targets every aspect of modern life The European Union’s executive will unveil an ambitious emissions-cut plan this week that’ll leave no sector of the economy untouched, forcing wholesale lifestyle changes and stricter standards for industries. BP enters offshore wind with $1.1 billion U.S. investment BP will receive a 50% stake in the Empire Wind and Beacon Wind developments off New York and Massachusetts, respectively. Equinor will retain 50% in both, and continue to be the operator, the companies said in two separate statements on Thursday. BP joins financiers in call for U.S. to tax greenhouse gas emissions The U.S. government should start making businesses pay for their greenhouse gas emissions to help combat global warming, according to a powerful group of finance and energy titans including Morgan Stanley, JPMorgan Chase and Co. and BP. Natural gas is losing its luster as a “bridge fuel” to renewable energy Just a few years ago, natural gas was hailed as vital for the transition toward an economy that runs on renewable energy. But sentiment is changing and the fuel is going the same way as coal, its dirtier sibling shunned by governments, utilities and investors. Investment giants urge Texas to end most natural gas flaring Investors managing more than $2 trillion are calling on Texas regulators to ban the routine burning of natural gas from shale fields, arguing that the energy industry hasn’t moved quickly enough to curb the controversial practice. Total’s energy diversification efforts target South Korean wind farms Total SE will team up with Macquarie Group’s green bank to develop more than 2 gigawatts of floating wind farms off South Korea, the latest push by the French oil and gas giant to diversify into clean energy.