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Breaking News:

Oil Prices Rise On Surprise Crude Draw

Baker Hughes Eyes 100% Renewable Energy For Texas Operations

BHGE

Baker Hughes has vowed to generate 100 percent of the energy it uses in Texas from solar and wind power capacity, Bloomberg reports, citing a statement by the company.

According to Baker Hughes, switching to solar and wind to power its 170 facilities across the Lone Star State will reduce its global carbon footprint by 12 percent.

The move is part of Baker Hughes’ plan to become a net zero emitter by 2050. The plan was announced at the company’s annual meeting in January this year. Baker Hughes said it would aim to reduce its carbon dioxide emissions by half by 2030 and to zero over the next two decades.

At the time, Baker Hughes boasted that it had already managed to reduce its carbon dioxide emissions by 26 percent since 2012 by utilizing new technology and operational efficiencies”.

“Oil and gas will continue to be an important part of the global energy mix, and BHGE is committed to investing in smarter technologies to advance the energy industry for the long-term,” Baker Hughes’ chairman and chief executive Lorenzo Simonelli said at the meeting. “Managing carbon emissions is an important strategic focus for our business. We believe we have an important role to play as an industry leader and partner. BHGE has a long legacy of pushing the boundaries of technology and operating efficiency. Today we take this to the next level by committing to ambitious new goals for ourselves, and to providing lower carbon solutions expected by customers and society.”

The oilfield services industry has been slower than supermajors in making climate change commitments, not least because it suffered more than E&Ps during the last crisis and has less room to invest in often costly transformations aimed at curbing carbon footprints. Now that solar and wind have become much cheaper, the switch to renewables is getting more affordable for oilfield service providers.

By Irina Slav for Oilprice.com

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