Connect with us
हिंदी اردو
Friday,20-September-2024
Breaking News

Business

Oil majors gambling on emissions mitigation technologies: Carbon Tracker

Published

2 years ago

on

Oil and gas companies are putting investors at risk because their plans to reduce emissions rely on technologies that are expensive and unproven at scale, finds a report from the financial think tank Carbon Tracker released on Thursday.

All but two of the 15 largest publicly traded oil and gas companies have updated their climate targets since May 2021, but the report warns that most are failing to commit to absolute cuts in emissions and it questions the credibility of company plans which seek to make room for new production.

Eni is one of only four companies to accept absolute cuts in emissions from the production and use of its products and has the strongest climate policy: it pledged a 35 per cent cut by 2030, up from its previous 25 per cent target.

All North American companies lag behind Europeans and ExxonMobil has the weakest policy: it adopted a net zero target last year but has not pledged specific cuts and excludes 95 per cent of lifecycle emissions from the products it sells.

No new investment in fossil fuel production is needed if the world is to meet the 1.5 degrees Celsius Paris climate target and avoid the worst impacts of climate change, according to the International Energy Agency (IEA).

Demand is set to fall over time as a result of governments’ climate policies, the rapid growth of clean technologies, and the drive for energy independence following Russia’s invasion of Ukraine.

Investors concerned about climate change and the risk of stranded assets are putting increasing pressure on oil and gas companies to align their plans with Paris.

“Absolute Impact 2022: Why Oil and Gas Companies Need Credible Plans to Meet Climate Targets” highlights the three approaches that companies are using to cut emissions while justifying continued investment in production: planning to roll out a wide range of emissions mitigation technologies (EMTs); selling assets; and buying offsets.

Mike Coffin, Carbon Tracker Head of Oil, Gas and Mining and report author, said: “Financial institutions must scrutinise companies’ emissions targets and whether their plans to achieve them are practical and credible in order to assess alignment with global climate goals.

“This is particularly so for companies which seek to ‘create space’ for further fossil investment.

“The best way for companies to reduce both their climate impact and transition risk exposure for investors is to allow their existing production to decline without investing in new assets.”

All but one of the 15 companies have announced plans to use EMTs: Eni plans to build plants in the North West of Britain and Ravenna, Italy, which will each capture and store 10 million tonnes (10Mt) of CO2 a year by 2030, but these will be from industrial processes, and not reduce emissions from its own products.

ConocoPhillips plans to capture CO2 and reinject it into reservoirs to extract more oil.

Although this may reduce the emissions intensity of its operations, it will likely lead to more oil being produced and burned.

Occidental is spending an estimated $1 billion to build the first large-scale plant in the US to capture carbon directly from the air. It aims to sequester 1Mt a year — 100 times the current global capacity from all such projects, but just 0.4 per cent of the total emissions from the assets it operates in 2021.

Total lists a 13,500 sq km forest in Peru among its offsetting projects, claiming it will help “prevent” more than 15Mt of CO2 over 10 years, but it is not planting new trees.

Repsol plans to offset 16Mt by planting 700 sq km of forest at Motor Verde, Spain.

Maeve O’Connor, Carbon Tracker Analyst and report author, said: “Oil and gas companies are gambling on emissions mitigation technologies that pose a huge risk to both investors and the climate. Most of these technologies are still at an early stage of development, with few large projects working at anything like the scale required by company goals, while solutions that involve tree planting require huge areas of land.

“It remains to be seen whether these technologies will be technically feasible or economically viable given the huge costs involved.”

Related Tags:

Business

New TVS Apache RR 310 Hits Indian Market at Rs 2.75 Lakh: All You Need to Know

Published

3 days ago

on

September 17, 2024

By

TVS has introduced the 2024 edition of its flagship Apache RR 310 in India, starting at Rs 2.75 lakh (ex-showroom). The updated model brings several enhancements, including segment-first aerodynamic winglets integrated into the side fairing, aimed at improving stability and performance.

The latest version of the TVS Apache RR 310 comes with a starting price of Rs 2.75 lakh (ex-showroom) for the Racing Red model. However, this variant does not include the bi-directional quick-shifter. For those looking to add this feature, it will cost approximately Rs 17,000 extra. The 2024 lineup also introduces a new Bomber Grey color option, priced at Rs 2.97 lakh (ex-showroom), offering a stylish and performance-focused upgrade.

The 2024 TVS Apache RR 310 retains its 312cc single-cylinder, liquid-cooled engine with a 6-speed gearbox, but now offers improved performance. The updated model produces 37 bhp at 9,800 rpm and 29 Nm of torque at 7,900 rpm. TVS also claims that it accelerates faster than before, shaving 0.43 seconds off its 0-100 km/h time, making it a more exciting choice for riders looking for speed and agility.

The 2024 TVS Apache RR 310 keeps its familiar trellis frame, supported by upside-down front forks and a rear monoshock for improved handling. Braking is handled by disc brakes. It also comes with a 5-inch TFT display that offers Bluetooth connectivity and navigation.

The updated electronics package includes new features like tyre pressure monitoring, cornering ABS, traction control, and cruise control. While the overall design remains similar, it gets refreshed decals and is available in three colours: Bomber Grey, Racing Red, and Race Replica.

TVS has introduced two performance kits for the new Apache RR 310: the Dynamic kit, priced at Rs 18,000, and the Dynamic Pro kit at Rs 16,000. The Dynamic kit enhances the bike’s handling with fully adjustable suspension, a tyre pressure monitoring system, and a brass-coated drive chain. The Dynamic Pro kit, meanwhile, focuses on safety and stability, offering race-tuned dynamic stability control for better on-road performance. These upgrades allow riders to customize their experience for both performance and safety.

Continue Reading

Business

Jio network down: users are facing problems

Published

3 days ago

on

September 17, 2024

By

Some Jio users in Mumbai are experiencing network outages, causing the issue to trend on Twitter. According to reports on social media, the disruptions have affected specific areas in the city. One user claimed that the Reliance Jio IDC Data Centre caught fire, potentially causing service interruptions. The user tweeted, “Reliance Jio IDC Data Centre caught fire, some services down due to that.

The network of Reliance Jio, one of the leading telecom companies in India, has been down for the last 1 hour. So users are facing a lot of problems. Many have posted about this on social media and tagged Reliance Jio. Reliance Jio network is down since last 1 hour.

Due to this, many works of Jio users have been stopped. A user posted on X and informed that the Jio service has been shut down due to a fire in the IDC (data center). Repair work is going on here. The network will be restored soon. But Reliance Jio has not given any official information about this yet. Therefore, users are asking when the network will be restored.

Reliance Jio service has been discontinued. Most of the users have no signal in their mobiles. 20 percent reported internet connectivity disruption on Down detector. 14 percent people are facing problems in running Jio fiber. Reliance Jio’s website is also not working properly and users are unable to access the Jio app.

There are more than 10 thousand complaints on Downdetector around 12 noon. More outage issues have been reported from cities like Delhi, Lucknow and Mumbai. Users across the country are complaining about Jio service being down. Jio on X is also trending down. People are sharing memes for Jio.

Reliance Jio services have once again been suspended in many parts of the country. Today i.e. on 17th September it started from Mumbai, the financial capital of the country and now Jio is down in all the cities of the country. Earlier in May and June 2024 also, Jio services were suspended in Mumbai. Users are constantly complaining on social media about Jio being down but there is no concrete solution and assurance from the company yet.

Users on social media claim that Jio services have been suspended across Mumbai. There is a network problem for several hours. Many users have also complained about the broadband service. Outage tracker Downdetector has also confirmed Jio’s outage. According to Downdetector’s map, it has stopped in New Delhi, Lucknow, Nagpur, Cuttack, Hyderabad, Chennai, Patna, Ahmedabad, Kolkata, Guwahati.

More than 10 thousand people have complained on Downdetector in just 1 hour. On this site, 67 percent people complained about lack of signal, 20 percent about mobile internet and 14 percent about Jio Fiber.

Continue Reading

Business

‘Take A Trip To Vietnam For Your iPhone 16’: X User Proposes Cost-Effective Way To Buy The Latest Apple Smartphone

Published

1 week ago

on

September 10, 2024

By

Apple recently launched its latest iPhone series, the iPhone 16 series. In addition, the company also launched the latest Apple Watch along with the latest version of Apple AirPods.

Trip To Vietnam For Apple

Apple products from time immemorial have been known for their exorbitant and sky-high pricing. Many have often made memes about having to sell their organs to be able to afford one of their iPhones.

Now, with the latest launch, and X user has found a way to cut corners by taking a trip.

According to the user, an aspiring iPhone buyer in India should take a trip to the East Asian nation of Vietnam to be able to get the new iPhone 16 at a cheaper rate.

However, the user also notes that these savings can only be made, if the buyer is intending to buy the advanced iPhone 16 Pro iPhone 16 Pro Max.

Savings Only iPhone 16 Pro

The user said, “Plan your #iPhone16 purchase with a trip to #Vietnam and spend the same amount you would be spending buying it here in India.”

In addition, the user also added, “But the savings work only if you are planning to buy the #iPhone16Pro or the #iPhone16ProMax”.

In addition, the user also surmised an instance of users travelling to the UAE an purchasing these phones.

According to the user, the Visa fees & fight rates don’t make Dubai that lucrative unless flying somewhere via UAE or planning for the #iPhone16ProMax only”.

As per the statistics produced by the user, the most expensive iPhone 16 Pro Max will cost an Indian buyer Rs 1,44,900 a piece. In Vietnam, however, it would cost a buyer Rs 1,18,992.

This marks a difference of Rs 25,908. Meanwhile, in the UAE, particularly in Dubai, the same phone would cost the buyer Rs 1,16,550, marking a difference of Rs 28,350.

The iPhone series will be available in India from September 20, with the pre-order for the phone starting on September 13.

Continue Reading
Advertisement
Advertisement

Trending