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Clean crude? Oil firms use offsets to claim green barrels | Hellenic Shipping News Worldwide

Clean crude? Oil firms use offsets to claim green barrels In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral. While the two-million-barrel cargo to India was destined to produce more than a million tons of planet-warming carbon over its lifecycle, from well to tailpipe, the Texas-based driller said it had completely offset that impact by purchasing carbon credits under a U.N.-sponsored program called CORSIA. Carbon credits are financial instruments generated by projects that reduce or avert greenhouse-gas emissions such as mass tree plantings or solar power farms. The projects’ owners can sell the credits to polluting companies, who then use them to make claims of offsetting their carbon emissions.

United statesNew delhiBruxelles capitaleCity ofUnited kingdomAnne thielIsla binnieSusanna twidaleAlex buddenMarion verlesRichard jacksonShadia nasrallahNina chestneyNidhi vermaEdvard griegBrian thevenot

INSIGHT-Clean crude? Oil firms use offsets to claim green barrels

INSIGHT-Clean crude? Oil firms use offsets to claim green barrels Reuters 1 hr ago By Timothy Gardner, Nerijus Adomaitis and Rod Nickel Popular Searches April 16 (Reuters) - In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral. While the two-million-barrel cargo to India was destined to produce more than a million tons of planet-warming carbon over its lifecycle, from well to tailpipe, the Texas-based driller said it had completely offset that impact by purchasing carbon credits under a U.N.-sponsored program called CORSIA. Carbon credits are financial instruments generated by projects that reduce or avert greenhouse-gas emissions such as mass tree plantings or solar power farms. The projects’ owners can sell the credits to polluting companies, who then use them to make claims of offsetting their carbon emissions.

United statesNew delhiBruxelles capitaleCity ofUnited kingdomAnne thielNerijus adomaitisIsla binnieSusanna twidaleAlex buddenMarion verlesRichard jacksonShadia nasrallahNina chestneyNidhi vermaEdvard grieg

Clean crude? Oil firms use offsets to claim green barrels

10 Min Read (Reuters) -In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral. FILE PHOTO: Equipment used to process carbon dioxide, crude oil and water is seen at an Occidental Petroleum Corp enhanced oil recovery project in Hobbs, New Mexico, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File Photo While the two-million-barrel cargo to India was destined to produce more than a million tons of planet-warming carbon over its lifecycle, from well to tailpipe, the Texas-based driller said it had completely offset that impact by purchasing carbon credits under a U.N.-sponsored program called CORSIA.

United statesNew delhiBruxelles capitaleCity ofUnited kingdomAnne thielIsla binnieSusanna twidaleAlex buddenMarion verlesRichard jacksonShadia nasrallahNina chestneyNidhi vermaEdvard griegBrian thevenot

Clean crude? Oil firms use offsets to claim green barrels

Clean crude? Oil firms use offsets to claim green barrels
wincountry.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wincountry.com Daily Mail and Mail on Sunday newspapers.

United statesNew delhiBruxelles capitaleCity ofUnited kingdomAnne thielNerijus adomaitisIsla binnieSusanna twidaleAlex buddenMarion verlesRichard jacksonShadia nasrallahNina chestneyNidhi vermaEdvard grieg

Clean crude? Oil firms use offsets to claim green barrels

Clean crude? Oil firms use offsets to claim green barrels
yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.