US-based oil and gas majors are lagging well behind their European counterparts when it comes to plans for cutting emissions to comply with the Paris climate deal, according to analysis released Wednesday (24 June).
Oil majors are “lagging” when it comes to preparing for the low-carbon energy transition, according to a new report from financial watchdog CDP, which nonetheless praised BP, Eni, Equinor, Total, Repsol and Shell for taking the industry’s lead.
The bosses of Europe’s six largest energy companies, including BP and Shell, have said gas should play a vital role in plans to tackle global warming, in a rare public intervention aimed at influencing UN talks.
Russian gas export monopoly Gazprom has bought the shares of its European partner companies in the South Stream gas pipeline company, namely Eni, EDF and Wintershall, for approximately $1 billion, thus becoming sole owner of the defunct pipeline.
Germany's Wintershall, a unit of the world's largest chemical company BASF, is set to join Russia's South Stream pipeline that will carry gas under the Black Sea to Europe, a source close to energy giant Gazprom announced on Friday (18 March).