Chevron, Microsoft, Schlumberger to Build Carbon Capture Plant in California
Chevron Corp is partnering with Microsoft Corp, oilfield services firm Schlumberger and privately held Clean Energy Systems to build a carbon capture plant in California, as the U.S. oil major expands investments in renewable technology.Fossil fuel companies have faced increased pressure in recent years to reduce emissions, spend more on low-carbon energy and disclose the impact their production has on climate change.Chevron said on Thursday the plant…
Partners Bring AI to Energy
Baker Hughes, C3.ai, and Microsoft Corp. announced an alliance to bring enterprise artificial intelligence (AI) solutions to the energy industry on the Microsoft Azure cloud computing platform.This alliance will enable customers to streamline the adoption of scalable AI solutions for the energy industry that help promote safety, reliability, and sustainability. It leverages the energy technology expertise of Baker Hughes, C3.ai’s AI platform and applications, and the Microsoft Azure cloud computing platform.
Exxon, Microsoft Ink Cloud Computing Deal for U.S. Shale
Exxon Mobil Corp and Microsoft Corp have agreed to use cloud technology in the U.S. oil producer's shale operations, they said on Friday, helping to boost profitability in the nation's largest shale field.The companies will collect data from Exxon's wells and other production assets in the Permian Basin of West Texas and New Mexico, where the world's largest publicly traded oil and gas company holds 1.6 million acres, and make it immediately accessible to Exxon workers.The value of the agreement was not disclosed.
Oil Higher as Stocks Rebound, Saudi Signals Intervention
Crude stockpiles rising at U.S. futures delivery point; Saudi Arabia says oil market could shift to oversupply in Q4.Oil prices rose 1 percent on Thursday, following the U.S. stock market higher a day after Wall Street's biggest drop since 2011 and as Saudi Arabia's energy minister signaled major producers may have to intervene in crude markets to support prices.Brent crude futures rose 72 cents to settle at $76.89 per barrel as U.S. equities rose amid strong corporate earnings.
ABB, Microsoft Partner to Drive Digital Industrial Transformation
ABB and Microsoft Corp. announced a strategic partnership to help industrial customers create new value with digital solutions. The offering is a unique combination of the Microsoft Azure intelligent cloud and ABB’s domain knowledge and extensive portfolio of industrial solutions. The two partners are looking to empower digital transformation in customer segments such as robotics, marine and ports, electric vehicles and renewable energy.
Bill Gates' Foundation Sues Brazil's Petrobras
The Bill & Melinda Gates Foundation has sued Brazil's Petrobras to recoup stock losses stemming from a corruption scandal at the state-run oil company. According to a complaint filed late Thursday night in federal court in Manhattan, Petrobras' "pervasive bribery and money laundering scheme" caused the Gates Foundation and another plaintiff, WGI Emerging Markets Fund LLC, to lose tens of millions of dollars by investing in the company.
Climate is Right for Clean Energy Firms
If you're ecology minded, the news hasn't been all that green of late, with ice caps and glaciers melting and storms becoming more destructive. But there is a huge silver lining for long-term investors in environmentally-friendly companies and technologies. To stave off a nearly 5-degree global temperature increase by 2100, nations must cut their global greenhouse emissions by up to 70 percent by the middle of this century, according to a recent report by the Intergovernmental Panel on Climate Change.
