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October Oil & Gas News Roundup

In October, Chevron committed to net zero operational emissions by 2050, BP bought a tech company to turn buildings into virtual power plants, and North America’s rig count almost doubled. Continue reading our oil and gas news round up to learn more about what’s happening in the industry this month. 

Chevron Commits to Net Zero Operational Emissions

Chevron Corp set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint. The move to cut upstream emissions from its own operations and indirect emissions such as those from power generation comes as investors and governments increase pressure on energy companies to join the fight against climate change.

To find out how Chevron expects to achieve its target check out the full article here.

BP Buys Tech Company, Turns Buildings into Virtual Power Plants

BP has announced that it has acquired Blueprint Power, a business it describes as a leading U.S. technology company that turns commercial buildings into virtual power plants. The value of the deal was not disclosed by either company. Blueprint will join the BP Launchpad portfolio and BP will explore how Blueprint can work to lower the cost of renewable energy and support the decarbonization of both cities and carbon-intensive industries.

For more information on this topic click here.

North America Rig Count More Than Doubles

North America’s rig count has more than doubled, according to Baker Hughes’ latest rotary rig count. The region’s rig count now stands at 700, which represents an addition of 351 rigs compared to this time last year, when North America’s rig count stood at 349.

To read the full report check out Rigzone’s article by clicking here.

Reach Out to Tiger General

We hope you found our October oil and gas news roundup interesting. If you need a new piece of equipment, fill out the Tiger General Truck Inquiry Form today!