Your weekly oil and gas insights 14/02/2023
Inside Oil & Gas
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New analysis suggests that UK and Europe ‘may never return to Russian gas and oil’
The UK and the rest of Europe may never return to its reliance on Russian gas and oil thanks to increased global imports of LNG, new LNG terminals as well as storage coming online. Greener options such as solar, wind and hydro have also aided in this transition, according to a new report by energy and sustainability consultancy Advantage Utilities.?
Uncertainty and volatility are always present in the energy market. This means it is important for businesses of all sizes and sectors to remain informed about what could affect energy budgets in order to drive smarter decisions.???????????????????
The new Energy Market Report by Advantage Utilities takes a look at key factors driving energy prices in 2023. It highlights Europe’s accelerated transition away from Russian gas reliance over the last 12 months as a significant step, expedited by the ongoing conflict between Russia and Ukraine...
Hess recognised for sustainability performance
Hess Corporation ?has once again received a?AAA?rating in the latest MSCI environmental, social and governance (ESG) rating assessment.?AAA, which is MSCI ESG’s highest rating, designates?Hess?as a leader in managing industry specific ESG risks relative to peers.?Hess?is one of only two?US?oil and gas companies that currently hold a?AAA?rating from MSCI ESG.
Hess?received its first?AAA?rating in 2021, after earning AA ratings from MSCI ESG for 10 consecutive years. MSCI provides research, ratings, and analysis of the ESG business practices of thousands of companies worldwide.
In addition,?Hess?has earned a place on the 2023 Bloomberg Gender-Equality Index (GEI) for the fourth consecutive year. Bloomberg’s GEI is a modified market capitalisation-weighted index measuring the performance of public companies in 50 countries, across a variety of sectors on gender equality in leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies, and external brand...
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Neste and Scania pilot a digital solution to make use of renewable fuels easier to track
Neste and Scania are piloting a digital solution that enables easy follow-up and verification of each truck’s usage of renewable fuels. Combining data from Scania Fleet Management Portal enriched with Neste’s fuel emission data, the solution provides Scania’s fleet management customers with accurate, up-to-date data for their greenhouse gas emissions (GHG) reporting and sustainability communications. Customers can compare the climate impact of their use of Neste’s renewable fuels to fossil fuels and track their continuous progress towards climate targets.
Neste and Scania are testing the digital solution with the logistic companies HAVI and UFF. The solution combines data regarding where a certain truck has been refuelled and how much it has driven, with data about the climate impact as a result of the use of Neste MY Renewable Diesel? instead of fossil fuel.
Until now, it has been a challenge to verify to what extent trucks really run on renewable fuels, as the very same trucks could also continue to run on fossil fuels. The digital solution now being tested hopes to solve this issue. Neste’s and Scania’s joint ambition is that the solution could in the future serve all fleet manufacturers and all types of renewable fuels...