Schlumberger has a new name underscoring the company’s vision for a decarbonized energy future

New identity focuses on energy innovation and decarbonization to address the world’s energy needs today and to forge the road ahead for the energy transition

HOUSTON, October 24, 2022—Schlumberger (NYSE: SLB) today announced its new name—SLB—underscoring the company’s vision for a decarbonized energy future and affirming its transformation from the world’s largest oilfield services company to a global technology company focused on driving energy innovation for a balanced planet. Beginning today, the legacy Schlumberger brand and nearly all of its affiliated brands will become one under the new SLB brand, which introduces a refreshed visual identity, including a new logo for the company—a symbol of where it is today and where it is heading.

“Today we face the world’s greatest balancing act—providing reliable, accessible and affordable energy to meet growing demand, while rapidly decarbonizing for a sustainable future,” said Olivier Le Peuch, chief executive officer, SLB. “This dual challenge requires a balance of energy affordability, energy security and sustainability. It requires a balance of innovation and decarbonization in the oil and gas industry as well as clean energy solutions. It requires a balanced energy mix for a balanced planet. Our new identity symbolizes SLB’s commitment to moving farther and faster in facilitating the world’s energy needs today and forging the road ahead for the energy transition. It’s a bold challenge. But the legacy of our people, technology and performance are unmatched, and we are ready to answer this challenge.”

Brand evolution

The SLB brand builds on nearly a century of technology innovation and industrialization expertise in the energy services industry. The company has spent the last three years laying the groundwork for its increasing focus on low- and zero-carbon energy technology solutions while continuing to drive innovation, decarbonization and performance for the oil and gas industry:

  • In 2020, SLB launched its New Energy business to explore partnerships and opportunities in low-carbon and carbon-neutral technologies. This set in motion a years-long journey for the company to expand its role in the new energy future through the development of new technologies and partnerships.
  • In 2021, SLB became the first company in the energy services industry to commit to a net-zero target inclusive of total Scope 3 emissions from the use of its technologies.
  • In tandem with this commitment, SLB introduced a portfolio of Transition Technologies™ with a quantifiable, science-based emissions reduction benefit. One example is SLB’s Zero-Flaring Well Test and Cleanup technique, which has been used by customers to reduce up to 80,000 tons of CO2 emissions—the equivalent of taking nearly 18,000 cars off the road for a year.
  • Earlier this year, the company announced SLB End-to-end Emissions Solutions (SEES), a dedicated business for eliminating methane emissions from oil and gas operations. Methane is an important industry target because its warming effect is 84 times greater than CO2 over a 20-year period and 28 times over a century. SLB recently joined the Oil and Gas Climate Initiative’s “Aiming for Zero Methane Emissions Initiative” to support energy companies’ efforts to curb the warming impact of their operational methane emissions.

SLB today

Leveraging this progress and guided by its brand promise to drive energy innovation for a balanced planet, SLB will focus on delivering results-driven solutions for its customers in four areas:

  • New energy systems—SLB is focusing on creating and scaling the new energy systems of tomorrow. With its New Energy business evolving to a strategic driver for the company, SLB will continue forging partnerships across various industries to develop technologies across five areas: carbon solutions, hydrogen, geothermal and geoenergy, energy storage and critical minerals. This includes the company’s Celsius Energy business, which reduces the carbon footprint of buildings by making energy accessible from the earth, as well as Genvia, a clean hydrogen technology company formed as a public/private partnership with France’s renewables research agency, CEA, and other partners.
  • Industrial decarbonization—Reducing emissions, particularly from hard-to-abate industries, is critical to achieving net zero targets. SLB is already working to make an impact in this area. Last month, it announced plans to develop a digital sustainability platform that will provide sustainability solutions for hard-to-abate industrial sectors. SLB is also focused on expanding technologies and opportunities for carbon capture, utilization and sequestration (CCUS), which is one of the most significant levers for decarbonizing multiple industries.
  • Digital at scale—Digital capabilities continue to grow throughout the energy industry and have become a key performance and efficiency driver. SLB’s customers will be able to use the company’s digital products and services to help meet their sustainability goals by driving transparency, better measurement, more effective planning and much more impactful outcomes with integrity. SLB recently announced the commercial release of its Enterprise Data Solution, which helps accelerate advanced workflows. This latest innovation was built in alignment with the emerging requirements of the OSDU™ Technical Standard, the open industry standard for energy data.
  • Oil and gas innovation—Building on its decades of technology advancement, SLB will continue innovating new products, services and technologies that make the exploration and development of oil and gas assets cleaner, more resilient and more efficient, with lower carbon and less impact on the environment. The company will continue to build on its fit-for-basin approach, developing bespoke and custom technologies tailored for the regions and environments in which they operate. Through the continued growth of digitally enabled technologies that improve efficiency and performance, its Transition Technologies portfolio and its SEES methane elimination business, SLB will provide solutions that enable its customers to increase production from their reserves at a competitive cost and low carbon intensity per barrel equivalent.

“Our new identity boldly symbolizes our ambition to accelerate the energy transition with sustainability at the center of everything we do,” said Dr. Katharina Beumelburg, chief strategy and sustainability officer, SLB. “Our new brand and strategy are built for this moment in our history. A moment that demands the need for a balanced energy system for our planet and the need to achieve and go beyond net zero to address the climate challenge. Everything we have chosen, from the shape of the logo to our new, bright blue color, symbolizes the boldness of our ambitions and ingenuity of our team to make the new energy future a reality. ’For a balanced planet’ is more than just our new tagline. It’s central to our purpose and our culture. It takes the incredible history of this world-class company, enhances it and moves it forward toward a more sustainable and net zero future.”

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day to decarbonize oil and gas and develop scalable new energy technologies to accelerate the energy transition. Find out more at slb.com.

Access the SLB Media Kit here.

Media

Josh Byerly, Vice President of Communications
Moira Duff, Director of External Communications
Office +1 (713) 375-3407
media@slb.com

Investors

Ndubuisi Maduemezia, Vice President of Investor Relations
Joy V. Domingo, Director of Investor Relations
Office +1 (713) 375-3535
investor-relations@slb.com

Cautionary Statement Regarding Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about our financial and performance targets and other forecasts or expectations regarding, or dependent on, our business outlook; growth for SLB as a whole and for each of its Divisions (and for specified business lines, geographic areas, or technologies within each Division); oil and natural gas demand and production growth; oil and natural gas prices; forecasts or expectations regarding energy transition and global climate change; improvements in operating procedures and technology; and our business strategies, including digital and “fit for basin,” as well as the strategies of our customers. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve financial and performance targets and other forecasts and expectations; the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of our partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

8 ways the Oil and Gas Industry is making better use of sustainable technologies

8 ways the Oil and Gas Industry is making better use of sustainable technologies

1. Better use of data

At the end of last year, McKinsey placed the O&G industry’s performance gap at $200 billion. Their research states that on average, offshore platforms run at only 77% of maximum production potential. Correctly implemented data analytics systems and tools can overcome the operational complexity of O&G operations, quickly yielding returns of as much as 30-50 times the original investment and reducing ecological impact by reducing wastage, accidents and bottlenecks.

2. Decreasing freshwater usage

Water is an essential element in various oil production processes, from fracking to separating oil from other elements present in oil sands. Hundreds of millions of barrels of water are utilized every single day, and while the global O&G industry currently manages to recycle the vast majority of this water (between 80-95%), companies are rethinking the extraction process to reduce freshwater from the very outset.

3. Improving water recycling efforts

In order to decrease freshwater usage, O&G companies are exploring more effective ways of recycling and reusing water for their operations. Increasingly, companies are aiming to use 100% non-potable water by improving filtration oxidization methods, as well as advanced chemical-free water treatment solutions to neutralise bacterial contaminants such as sulphate-reducing and iron-oxidizing bacteria.

4. Reducing methane leaks

Finding ways to reduce methane leaks is a cost-effective opportunity for the industry. Recent figures from the International Energy Agency have outlined that it is financially possible to reduce oil and gas methane emissions[1] utilizing currently available and emerging technologies.

5. Used oil recycling

More companies are utilizing small-scale waste-oil micro-refinery units that transform used oil into diesel fuel. Not only does this approach yield fuel for ongoing operations, it’s also a relatively inexpensive alternative to more traditional oil disposal methods.

6. Streamlining/improving processes

Even innovations that don’t specifically make oil and gas processing greener and cleaner can still help improve the industry’s overall sustainability by allowing for more cost-efficient processes. For example, new ultrasound technology allows companies to create 3D images of the inside of oil wells, enabling them to make more informed and cost-effective production decisions. Similarly, IIOT, analytics, automation, reserve replacement and enhancement capabilities, and emerging artificial intelligence programs can all help find and eliminate operational inefficiencies.

By improving the efficiency of ongoing operational processes by even a small fraction, O&G companies can produce the same amount but with reduced costs and energy expenditure, leading to a lower overall carbon footprint.

7. Creating digital oilfields

Going beyond incremental operational improvements, the quickening pace of digitalization of the O&G industry has allowed for the creation of the ‘digital oilfield’, a process that is starting to come to prominence. Through the use of cloud technologies and big data, the digital oilfield allows for all operational data to be monitored, analyzed and utilized in real time, leading to safer, more sustainable decisions being made.

8. Greater acquisition and use of renewable energy

While many O&G companies are looking to lower emissions, just as many are also looking to diversify into the renewables market. At the beginning of 2018, BP said that $0.5 billion of its capital investment fund would be dedicated to clean energy, and the company recently bought a $200 million stake in Europe’s largest solar producer. With more high profile investments like this becoming the norm, O&G companies are set to transform into a significant investor base for renewables in the coming decades.

Equally, exciting are the advances being made in biofuel, which may enable production levels on a much larger scale in the near future. ExxonMobil is currently developing its Calipatria site and believes that due to recent major breakthroughs, it will be capable of producing 10,000 barrels of biofuel per day by 2025. This is an essential step forward in the foundation of an entirely sustainable and renewable biofuel industry.

 

Credit Sources:

http://business.financialpost.com/entrepreneur/four-ways-technology-is-making-the-oil-and-gas-industry-greener

https://www.cbinsights.com/research/oil-gas-corporate-venture-capital-investment/

https://www.theguardian.com/business/2018/feb/06/bp-aims-to-invest-more-in-renewables-and-clean-energy

https://www.energyjobline.com/article/is-clean-technology-reshaping-the-oil-industry/

https://www.epmag.com/oil-gas-industry-rejuvenate-cleantech-perception-1672386

http://bwdisrupt.businessworld.in/article/Oil-and-Gas-Companies-Increasingly-Invest-in-Clean-Tech-Analytics-IoT/27-03-2018-144603/

https://usgreentechnology.com/review-clean-technology-oil-gas-industry/

https://www.bloomberg.com/news/articles/2017-10-24/big-oil-is-investing-billions-to-gain-a-foothold-in-clean-energy

https://www.greenbiz.com/article/how-oil-and-gas-companies-can-prepare-low-carbon-world

http://sdg.iisd.org/commentary/guest-articles/how-can-the-oil-and-gas-industry-contribute-to-the-sustainable-development-goals/

https://www.mckinsey.com/industries/oil-and-gas/our-insights/why-oil-and-gas-companies-must-act-on-analytics

https://towardsdatascience.com/here-is-how-big-data-is-changing-the-oil-industry-13c752e58a5a

https://www.oilandgas360.com/water-handling-in-oilfield-operations/

https://www.ogj.com/articles/print/volume-115/issue-8/drilling-production/water-constraints-drive-recycle-reuse-technology.html

https://www.mrt.com/business/oil/article/Oil-and-gas-operators-push-for-use-of-recycled-12631652.php

https://www.sciencedaily.com/releases/2018/04/180418141423.htm

https://www.fastcompany.com/40539606/exxon-thinks-it-can-create-biofuel-from-algae-at-massive-scale

[1] https://www.energyjobline.com/article/is-clean-technology-reshaping-the-oil-industry/

Aramco CEO: Urgent global consensus required to concurrently address climate priorities and energy security challenges

Aramco President and CEO Amin H. Nasser highlighted the need for a much more credible energy transition plan, as he delivered a keynote speech at the Schlumberger Digital Forum today.

During the event, he stressed the importance of achieving a new global consensus on the way forward, and outlined three strategic pillars that should be central to the response.

The pillars are:

  • a recognition by policymakers and other stakeholders that supplies of ample and affordable conventional energy are still required over the long term;

  • further reductions in the carbon footprint of conventional energy, and greater efficiency of energy use, with technology enabling both;

  • new, lower carbon energy, that steadily complements proven conventional sources.

Highlighting the consequences of a flawed transition plan, Mr. Nasser said:

“When you shame oil and gas investors, dismantle oil- and coal-fired power plants, fail to diversify energy supplies (especially gas), oppose LNG receiving terminals, and reject nuclear power, your transition plan had better be right. Instead, as this crisis has shown, the plan was just a chain of sandcastles that waves of reality have washed away. And billions around the world now face the energy access and cost of living consequences that are likely to be severe and prolonged.”

On the importance of greater investment in the oil and gas sector, Mr. Nasser said: 

 “A fear factor is still causing the critical oil and gas investments in large, long-term projects to shrink. And this situation is not being helped by overly short-term demand factors dominating the debate. Even with strong economic headwinds, global oil demand is still fairly healthy today. But when the global economy recovers, we can expect demand to rebound further, eliminating the little spare oil production capacity out there. And by the time the world wakes up to these blind spots, it may be too late to change course. That is why I am seriously concerned.”

On the need for the world to unite behind a credible new energy transition plan, Mr. Nasser said:

“As the pain of the energy crisis sadly intensifies, people around the world are desperate for help. In my view, the best help that policymakers and every stakeholder can offer is to unite the world around a much more credible new transition plan, driving progress on the three strategic pillars I have outlined this morning… That is how we deliver a more secure and more sustainable energy future.”


Media contact information

All media inquiries are handled by Saudi Aramco’s Corporate Communications Department, Dhahran, Saudi Arabia.

International: international.media@aramco.com
Domestic: domestic.media@aramco.com

Schlumberger and RTI International Partner to Accelerate Innovative Carbon Capture Technology

Schlumberger and RTI International Partner to Accelerate the Industrialization of Innovative Carbon Capture Technology

Non-aqueous solvent technology drives carbon capture cost reductions across hard-to-abate industries

HOUSTON, October 17, 2022—Schlumberger announced today that it has entered into an agreement with RTI International, a nonprofit research institute, to accelerate the industrialization and scale-up of its proprietary non-aqueous solvent (NAS) technology, which enhances the efficiency of absorption-based carbon capture. The NAS technology will be applicable to capture CO2 across a broad variety of industrial emissions.“With the world’s carbon budget running out, reducing emissions is a societal imperative,” said Gavin Rennick, president of Schlumberger’s New Energy business. “Carbon capture technologies are a key enabler in realizing a low carbon future—and we are excited about this exclusive agreement to work with RTI on industrializing and scaling this innovative carbon absorption technology, and bringing it to market.”The NAS technology offers a compelling alternative to conventional aqueous solvent technologies for carbon capture, as it consumes less energy while retaining high CO2 capacity, resulting in a material reduction in operating costs. The NAS technology is also less corrosive—eliminating the need for high-grade corrosion-resistant alloys and the associated increase in capital costs. This enhances the overall economics of carbon capture, utilization and storage (CCUS) projects.“RTI has developed the innovative NAS technology over the past 12 years, progressing from lab scale to large engineering scale,” said Dr. Marty Lail, senior director of RTI’s Decarbonization Sciences program. “NAS technology uses as much as 40% less energy during the CO2 capture process. High capture efficiency at lower energy cost is critical for widespread commercial use of carbon capture solvents.”As part of an engineering-scale carbon capture demonstration funded by the U.S. Department of Energy, NAS technology was able to remove >99% of the CO2 from natural gas combustion exhaust streams—the highest capture efficiency reported for any carbon capture solvent technology for this application.RTI and Schlumberger will collaborate to develop models that enable fast design and process customization to achieve a step-change in CO2 capture operations while leveraging Schlumberger’s global footprint to expand market opportunities for the technology.

About Schlumberger

Schlumberger (NYSE: SLB) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all. In the world of new energy, Schlumberger leverages its intellectual and business capital to focus on low-carbon and carbon-neutral technologies, including ventures in the domains of hydrogen, lithium, energy storage, carbon capture, utilization and sequestration, geothermal power and geoenergy.

For more information, visit www.newenergy.slb.com

About RTI International

RTI International is an independent, nonprofit research institute dedicated to improving the human condition. Clients rely on us to answer questions that demand an objective and multidisciplinary approach — one that integrates expertise across the social and laboratory sciences, engineering and international development. We believe in the promise of science, and we are inspired every day to deliver on that promise for the good of people, communities and businesses around the world.

For more information, visit www.rti.org.

 

For further information, contact:

Media

Moira Duff – Director of External Communications, Schlumberger Limited
Tel: +1 (713) 375-3407
media@slb.com

Kerry Branon – Media Relations Manager, RTI International
Tel: +1 (919) 708-8205
news@rti.org

Investors

Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
investor-relations@slb.com

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, carbon capture technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of carbon capture strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in the companies’ public filings, including Schlumberger’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, the parties disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

 

Photos

Dover Looks Toward the Future with Next-Generation Technologies to Support the Green Energy Transition

Dover Precision Components Innovation Lab Officially Opens
Company Looks Toward the Future with Next-Generation Technologies to Support the Green Energy Transition

Houston, TX (October 6, 2022) – Dover Precision Components, an integrated provider of performance-critical solutions for rotating and reciprocating machinery, today announced its Innovation Lab is officially open. Since the construction of the nearly 12,000-square-foot building was completed in 2020, the lab team has focused on the installation and commissioning of key test rigs for its fluid film bearings and compression products. The Innovation Lab has four independent test bays to allow work on multiple rigs at once with dedicated control rooms to monitor and collect test data and help ensure the safe operation of the equipment.

The lab was built to centralize the company’s test rigs and bring together the research and product development teams. These teams are focused on developing innovative new products and technologies to support a greener future, including the upcoming installation of a hydrogen testing facility for performance materials that are key to enabling the transition to hydrogen. “Dover Precision Components continues to make significant investments in product development and material science which have allowed us to accelerate the speed at which technologies are made available to our customers,” said Michael Corrie, Vice President, Advanced Sealing and Compression at Dover Precision Components. Added Chris Johnson, Vice President, Engineered Bearings, “As the world transitions toward clean energy to reduce carbon emissions, we are positioned to provide solutions that address these challenging application needs.” Waukesha Bearings ® and Cook Compression ® use component- and system-level test rigs to validate designs and analytical methods, evaluate performance and reliability, prove solutions under real machine conditions, and develop next-generation technologies.

About Dover Precision Components

Dover Precision Components delivers performance-critical solutions for rotating and reciprocating machinery across the oil & gas; gas, power generation, marine, industrial, chemical, and general processing markets. Comprising the Waukesha Bearings, Bearings Plus, Inpro/Seal, and Cook Compression brands, our portfolio includes hydrodynamic bearings, active magnetic bearings, system and bearing protection, reciprocating compressor valves, sealing technologies, pistons, rods, and more. Each solution is custom-engineered to provide optimum efficiency, reliability, and productivity, and is backed by comprehensive aftermarket services. Dover Precision Components serves its global customer base through facilities in North America, Europe, Asia, and the Middle East, as well as technical sales representatives around the world. Additional information is available at www.doverprecision.com.

Contact: Robin Vodenlic

Marketing Communications Manager
rvodenlic@doverprecision.com

NREL Acquires Next-Generation High Performance Computing System

NREL Acquires Next-Generation High Performance Computing System

Kestrel Will Take Flight and Bring the United States Closer to a Clean Energy Future

The National Renewable Energy Laboratory (NREL) has selected Hewlett Packard Enterprise (HPE) to build its third-generation, high performance computing (HPC) system, called Kestrel.

Named for a falcon with keen eyesight and intelligence, Kestrel’s moniker is apropos for its mission—to rapidly advance the U.S. Department of Energy’s (DOE’s) energy research and development (R&D) efforts to deliver transformative energy solutions to the entire United States.

Installation of the new system will begin in the fall of 2022 in NREL’s Energy Systems Integration Facility (ESIF) data center. Kestrel will complement the laboratory’s current supercomputer, Eagle, during the transition. When completed—in early 2023—Kestrel will accelerate energy efficiency and renewable energy research at a pace and scale more than five times greater than Eagle, with approximately 44 petaflops of computing power.

Eagle enables R&D breakthroughs across multiple programs within DOE’s Office of Energy Efficiency and Renewable Energy (EERE); these breakthroughs are a promising preview of achievable advancements with the highly anticipated Kestrel.

As the dedicated HPC system for EERE, Kestrel will play a critical role in computing across the research portfolio, advancing research in computational materials, continuum mechanics, and large-scale simulation and planning for future energy systems. Rapidly advancing applications and technologies in artificial intelligence (AI) and machine learning are fostering innovation and expansion of research into new directions for computing. These workflows drive complementary physics and data-driven approaches by fusing simulation with new sensor data sources. Kestrel’s heterogeneous architecture—which includes both CPU-only and GPU-accelerated nodes—is designed to enable these emerging workflows, providing EERE and industry partners with the ability to tackle the energy challenges for moving into a renewable and sustainable future.

Years of collaborative work in the HPC domain mean that NREL and HPE are poised to successfully execute the Kestrel deployment beginning in the fall of 2022.

HPE will build Kestrel using the HPE Cray EX supercomputer with design capabilities that are fully compatible with the warm-water waste heat recovery system currently used in NREL’s ESIF data center.

Kestrel will be composed of a balanced capability of future next generation Intel® Xeon® Scalable processors (code-named “Sapphire Rapids”) and NVIDIA A100NEXT Tensor Core GPUs to accelerate AI. The system will also feature HPE Slingshot, an Ethernet fabric to address higher speed and congestion control for larger data-intensive and AI workloads. With high-speed connectivity connecting more than 75 petabytes of parallel file system storage using the Cray ClusterStor E1000 from HPE, users will be empowered to tackle complex, data-centric workflows and immerse themselves in interactive data analytic visualizations.

With the Kestrel HPC system on the horizon, NREL remains poised to continue delivering critical energy efficiency and renewable energy advancements with its HPC-supported capabilities.

Credit: NREL

API – The Natural Gas and Oil Industry’s Commitment to Sustainability

For the natural gas and oil industry, the drive for more sustainable operations means developing new standards, innovative technologies and partnerships to accelerate safe, cleaner, affordable energy solutions for today and tomorrow.

America’s natural gas and oil companies are mindful of the responsibilities associated with delivering the energy that’s fundamental to the lives we want to live – while doing it in ways that protect the environment, lower emissions and reduce the risks of climate change.

Companies are committed to continuous improvement and innovation to advance sustainability – specifically, on environmental, social and corporate governance issues (ESG). This means focusing operations and community engagements in ways that can support progress toward achieving the UN 17 Sustainability Development Goals, including affordable and clean energy; jobs and economic growth; innovation and infrastructure; and climate action.

We’re doing this by continuously striving to make our operations and products cleaner as we produce the energy needed by a modern economy – energy that supports better lives and livelihoods, with broad economic and social opportunity.

As the only U.S. trade association representing all aspects of the natural gas and oil value chain, API has a long history of supporting member operations in these areas. These include, our new API Energy Excellence program, certifications and safety training programs, and industry-led initiatives to reduce methane emissions and natural gas flaring. API helps the industry enhance and expand a culture of safety and sustainability throughout all operations.

API members are actively working together to track and improve their sustainability performance while striving for increased transparency with stakeholders. API remains committed to building tools and platforms to support these efforts, as well as helping members engage with stakeholders to meet expectations for the many opportunities and challenges that lie ahead.

Governance and Strategy Venn Diagram

Approach

API helps companies responsibly meet the world’s energy needs and report consistently on sustainability performance. API and its partners at IPIECA and IOGP created the “Sustainability Reporting Guidance for the Oil and Gas Industry,” now in its fourth edition, to aid companies in their sustainability reporting. These voluntary guidelines identify the most relevant sustainability issues to our industry and provide guidance for reporting on those issues. They provide a robust framework to help companies with their sustainability reporting, particularly for companies that are just starting to report.

The API-IOGP-IPIECA guidance covers issue areas the natural gas and oil industry has managed for decades. These are specifically correlated by five modules to the ESG categories:

  • Environment

    • Climate Change and Energy

    • Environment

  • Social

    • Social

    • Safety, Health and Security

  • Governance

    • Governance

IPIECA, in collaboration with the World Business Council for Sustainable Development, has also generated a SDG Roadmap in order to advance environmental and social performance for companies the oil and gas sector.

For more detailed resources, visit the Environmental, Social and Governance pages in this section.

Credit: API

Lummus Introduces Industry’s First Net Zero Ethane Cracker

Breakthrough technology now available to help ethylene producers reduce emissions and meet sustainability goals  

HOUSTON, July 14, 2022 – Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the launch of a major enhancement to its leading ethane feed steam cracker that is capable of achieving zero CO2 emissions from an ethylene plant. Lummus developed this next generation design as part of its comprehensive strategy to reduce greenhouse gas emissions from all of its technology offerings.

The cracker, which is the industry’s first, is now available for commercial use to decarbonize a process in petrochemical manufacturing that is very carbon intensive. It can be incorporated into both new and existing ethane crackers, and at sites and facilities of different sizes.

Leon de Bruyn, President and Chief Executive Officer

“Ethylene producers are looking for solutions to reduce the carbon footprint of their investments, and this new net zero ethane cracker will help them achieve their decarbonization goals,” said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. “By launching the world’s first CO2-free ethane cracker, we are leveraging Lummus’ innovative culture and proven ability to commercialize technologies to play a critical role in the energy transition.”

The combustion of methane or other carbon-based fuels can be eliminated through innovations to the cracking heater design, resulting in significant reductions in the fuel firing demand, enhancements in the recovery section and a partial switch from steam turbine to electric drivers on the major compressors.

Lummus’ proprietary ethane feed steam cracking process is the most widely applied process for the production of polymer grade ethylene and polymer grade propylene. The process is noted for its performance including high product yield, energy efficiency, low investment cost and industry-leading reliability.

About Lummus Technology
Lummus Technology is the global leader in developing process technologies that make modern life possible and focus on a more sustainable, low carbon future. Lummus is a master licensor of clean energy, petrochemical, refining, gas processing and renewable technologies, and a supplier of catalysts, proprietary equipment, digitalization and related lifecycle services to customers worldwide. To learn more about Lummus, visit www.LummusTechnology.com.

Contacts:
Lummus Technology
Matt Braud
Marketing and Communications, Lummus Technology
+1 832 513 1556 (direct)
+1 225 335 3392 (cell)
Matthew.Braud@LummusTech.com

Video

Microsoft Cloud for Sustainability in Preview

Join Paul Duckworth from RSM to learn more about the topic of ESG and how Microsoft can help mid-market prepare for potential SEC reporting requirements. You will learn about why ESG is important to your company from a brand value and customer sentiment perspective as well as potential SEC regulations. Then Paul will demonstrate a new tool that will be available in the near future from Microsoft that can address your emissions tracking and reporting needs.

Learn more from our professionals – https://rsm.us/3LrDv2p 0:00 Intro to Microsoft Cloud for Sustainability 0:41 ESG explained 1:31 Sustainability defined 1:51 Why Sustainability is important 2:56 Greenwashing 4:08 Greenhouse Gas Protocol explained 6:40 Dashboards in the Cloud for Sustainability 11:00 Emission Factors 12:49 Connections 15:00 Calculation Profiles

See more from Microsoft – https://rsm.us/3xWxIOB

How The Oil And Gas Industry Is Building A Sustainable Future

By Brent Potts, Senior Director, Global Marketing, Oil, Gas, and Energy, SAP

Climate change and technology are affecting almost every industry on a global scale. None more so than the oil and gas sector. The groundswell of pressure toward sustainability is driving the oil and gas industry toward a major transformation.

In fact, many traditional oil and gas companies are evolving to the point where they now consider themselves energy companies, mobility companies, or even retail companies, as they diversify and expand into new areas with innovative business models.

Sustainability and digitalization have become the laser focus of many energy and utilities companies, and these industries are actually leading other sectors when it comes to adopting sustainable practices.

According to a recent survey by SAP and Oxford Economics, energy and utilities executives have made more sustainability-related changes to their operations than those in other industries. More than three-quarters (79%) say sustainability issues are a major concern or top-of-mind at all stages of the manufacturing process, and almost half (47%) have committed to a net zero carbon goal.

Drivers of Sustainable Change in the Oil, Gas, and Energy Sectors

There are several factors influencing sustainability efforts in the oil, gas, and energy industry. Companies are taking various approaches to address growing issues that are permanently impacting the industry. Some of the biggest drivers include:

1.    Government regulations, incentives, and subsidies

Increasing government interventions, such as the European Commission’s European Green Deal and the United Nations’ Paris Agreement are pushing oil, gas, and energy companies to look for more circular and sustainable solutions to meet aggressive carbon-neutral targets. These agreements are in addition to various carbon taxes, incentives, and subsidies being offered by different levels of government globally.

Several renewable or alternative energy initiatives currently have government incentives, such as tax credits for the use of solar panels, electric cars, or other alternative-energy options. Some governments may also offer subsidies to businesses or consumers who choose alternative or renewable energy sources. These government incentives and subsidies artificially inflate the demand and lower the cost of these alternatives, but the cost savings may not last.

It will be interesting to see if the demand will remain high once subsidies or incentives are reduced, revealing the true cost of alternative energy sources. As more renewable energy technology is developed and mass-produced, the cost of generating renewable energy goes down, but whether or not it will be enough to offset the government subsidies remains to be seen. Renewable energy costs must go down to the point where people will choose them regardless of subsidies or incentives, because ultimately, the cost will determine if people choose a particular energy source long term.

2.    Diversification and changing cost structures

Industry boundaries are blurring as several oil and gas companies extend beyond traditional revenue streams. A barrel of oil is not the central focus of many oil and gas companies anymore.

Now, many are placing a greater focus on customer needs and diversifying to include new revenue streams, such as renewable energy, electrical charging stations, advanced chemicals, biofuels, hydrogen, LNG, autonomous transport-on-demand initiatives, and even expanding retail outlets.

For example, Shell has set an ambitious goal to earn 50% of its revenue from non-fuels by 2025. The company is already the world’s largest mobility retailer, with more retail outlets than McDonald’s, and it sells $6 billion-dollars-worth of convenience retail products every year.

It also plans to ramp up its ‘power-as-a-service’ business model with an entirely new cost structure, which reflects the growing trend toward subscription or use-based business models being adopted by an increasing number of companies worldwide.

3.    Digitalization

Digitalization is what makes diversification possible. Advanced technology is changing he way companies work, creating more opportunities for partner collaboration and opening doors to new options for innovative business models.

For years, the World Economic Forum has said that digitalization is allowing the oil and gas industry to redefine its boundaries. The pandemic has simply accelerated that mandate. For example, companies quickly learned that they needed to be more agile to respond to major disruptions and drastic supply and demand fluctuations when the COVID-19 crisis made demand for oil and gas disappear almost instantly as lockdowns spread across the globe.

Aside from the pandemic, as more business systems and processes move to the cloud, it becomes easier to integrate and streamline operations across entire organizations and beyond. This opens the door for diversification as well as product and service innovation.

The survey shows that energy and utilities companies are more advanced than other respondents in their use of technology, with almost half (49%) using cloud technology versus just 36% for other industries.

4.    Changing customer, investor, and employee expectations

Peoples’ shifting expectations are having a huge impact on the oil, gas, and energy industry from multiple angles. Eco-conscious consumers continue to put pressure on companies to focus on sustainable practices and renewable energy sources. There is also mounting pressure from investors for companies to become more sustainable. For example, Harvard University plans to end all investments in fossil fuels and stop funding activities that drive global warming. Oil, gas, and energy companies should take note, as Harvard’s decision will no doubt influence other investors.

In addition to outside pressure from consumers and investors, many companies are also facing growing pressure from within their own workforce. As long-time employees retire, they take their traditional methods and intellectual property with them. They are being replaced with a tech-savvy, eco-conscious generation of employees who question conventional operating methods and may enter heavy-emission industries with the direct goal of promoting sustainability in the industry.

Many employees may focus on making a difference by encouraging and influencing more sustainable and purpose-driven practices within their own organizations. As a result, driving forces for sustainable change are mounting from multiple angles outside of organizations as well as from within the companies themselves.

Take Steps Toward a More Sustainable Future

As decision-makers attempt to move toward more sustainable practices, they should consider not one solution, but many. Here are a few recommendations:

  • Create a long-term strategy for foundational change that considers sustainability in every process.

  • Use data to influence decisions on implementing sustainable practices at the design, engineering, and manufacturing stages to track, measure, and reduce emissions at every stage.

  • Use transport and delivery methods that optimize loads and reduce mileage, emissions, and carbon footprint.

  • Source materials ethically and in the most sustainable way possible.

  • Operate assets and equipment in the most energy-efficient manner that is safe for the environment and the workforce.

Oil and Gas Companies Are Diversifying

As oil and gas companies look beyond the barrel and continue to diversify, it creates more complexity within their operations, which presents additional challenges to their sustainability efforts. According to the survey, 50% of energy and utilities executives say increased complexity is an obstacle to meeting their sustainability goals.

Despite this, close to half are still committed to achieving a net zero carbon goal, which is the most of any industry in the survey of 1,000 executives from industries worldwide.

Additionally, thanks to advanced technology, energy and utilities firms have more visibility than other industries into many aspects of manufacturing, including carbon emissions (58% vs. 43%), sustainable sourcing of raw materials (56% vs. 50%), and the complete lifecycle of by-products (49% vs. 42% for other industries).

This level of visibility provides valuable insight for business leaders as they focus on developing and enhancing sustainable practices throughout the oil, gas, and utilities industry today and into the future.

Learn more about balancing the bottom line with the green line in the SAP and Oxford Economics energy and utilities fact sheet, The Sustainable Supply Chain Paradox.

Credit to: Forbes

Most Popular Topics

Editor Picks