Sustainable Change Is Coming To Lundin Petroleum

Sustainable Change Is Coming To Lundin Petroleum

Sustainability is an increasingly important concept. It’s making waves in government, manufacturing, and now it’s come to the world of energy. Sweden’s Lundin Petroleum recently announced a potential name change. If shareholders approve the move in March, the company will be known as Lundin Energy going forward. They’ve also announced that they plan to be carbon neutral by the year 2030. This company has implemented measures designed to cut emissions, create carbon capture devices, and improve energy efficiency overall. This change is indicative of evolution throughout the energy industry. Companies like Lundin Petroleum made their fortunes thanks mostly to fossil fuels. However, as governments and populations become more aware of the role of carbon in climate change, there are plenty of incentives to evolve. For one thing, executives in the energy industry know that self-regulation may well prevent government interference. Secondly, they know that if carbon emissions are truly responsible for climate change, it behooves them to develop other, more carbon-neutral technologies. In addition to Lundin Petroleum, companies like Repsol, Shell, BP, and Total have announced plans to limit carbon emissions. In recent months, companies like BP have also announced new recycling initiatives. They’ve created a consortium with industrial giants like Unilever, Danone, and Alpla Group. BP Infinia is a new technology with great promise to recycle plastics that have been hard to process in prior years. In addition to handling plastic bottles and other containers, the goal is to find new ways to recycle fabrics like polyester. PET plastics are another form of petroleum product that the consortium is hoping to recycle. In focusing on closing the loop,...
Sustainability Challenges For The Gas And Oil Industry

Sustainability Challenges For The Gas And Oil Industry

The oil and gas industry is such a crucial sector of the global economy and the sustainability of human life. As of 2017, the global dependency on oil and gas sources of energy topped to about 4 trillion cubic meters of the energy resources. With the increased demand comes additional sustainability challenges that threaten to impact the highly demanded production severely. High Risk Of Accidents One thing that clearly defines the oil and gas production sector is the increased threshold of risk to accidents. Oil production companies operate in otherwise risky grounds such as offshore drilling areas in the high seas. The risk of accident in such environments is quite high. Some of the dominant kinds of accidents that have plagued the sector in the past include leakage of toxic oil and gas, leading to severe environmental pollution. Whereas oil mining companies have been on the forefront as far as risk mitigation is concerned, human error has been a major predominant issue which has led to some of the worst oil and gas accidents in the history of the industry. The threshold of such accidents and the potential impacts they have on the environment is so potent that it threatens the sustainability of the entire sector even as environmentalists move on high gear, calling for resourceful utilization of the environment. Straining Of The Existing Resources  The existing resources in terms of deposits of oil and gas, are facing a major constraint in our time. All companies have to increase their production to meet the expanded demand for commodities. In response, the companies have invested in more oil and gas...