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BP posts $3.3 billion third-quarter profit, beating estimates as oil prices surge

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U.S. and European Oil Giants Go Different Ways on Climate Change

U.S. and European Oil Giants Go Different Ways on Climate Change HOUSTON — As oil prices plunge and concerns about climate change grow, BP, Royal Dutch Shell and other European energy companies are selling off oil fields, planning a sharp reduction in emissions and investing billions in renewable energy.The American oil giants Chevron and Exxon Mobil are going in a far different direction. They are doubling down on oil and natural gas and investing what amounts to pocket change in innovative climate-oriented efforts like small nuclear power plants and devices that suck carbon out of the air.The disparity reflects the vast differences in how Europe and the United States are approaching climate change, a global threat that many scientists say is increasing the frequency and severity of disasters like wildfires and hurricanes. European leaders have made tackling climate change a top priority while President Trump has called it a “hoax” and has dismantled environmental regulations to encourage the exploitation of fossil fuels.As world leaders struggle to adopt coordinated and effective climate policies, the choices made by oil companies, with their deep pockets, science prowess, experience in managing big engineering projects and lobbying muscle may be critical. What they do could help determine whether the world can meet the goals of the Paris agreement to limit the increase of global temperatures to below 3.6 degrees Fahrenheit above preindustrial levels.The #AlternativeandRenewableEnergy #BPPlc #CarbonCaptureandSequestration #CarbonDioxide #ChevronCorporation #ExxonMobilCorp #GlobalWarming #Greenhousegasemissions #Hydrocarbons #NaturalGas #Oil(Petroleum)andGasoline #updatesonusnewsonacqro #usnewsacqro #usnewsacqroupdates #usnewsonacqro #usnewsupdates #usanews Read the full article

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In passenger vehicles, grease is a multipurpose lubricant that finds application in bearings, motor starting, wheel hubs, chassis, water pumps, dynamos, etc. The application of grease in terms of volume is more during the production of a vehicle than in the aftermarket segment. However, the aftermarket segment also generates significant demand for grease, as it is applied at certain intervals to maintain the smooth functioning of vehicles. For more breathtaking insights, click to know more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The global passenger vehicles lubricants market is projected to register a CAGR of 4.04% to reach 13 billion liters by 2026. The major players in this market are BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation, and Royal Dutch Shell PLC. For more key insights, tap to view more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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China accounted for 35.94% of the total consumption of commercial vehicle lubricants in the Asia-Pacific region. The continuing financial incentives for new energy commercial vehicles and the increasing industrial activities in China are likely to drive the sales of commercial vehicles. This, in turn, is likely to drive lubricant consumption in this sector at a CAGR of 5.16% from (2021-to 2026). For more instrumental input, click more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The Russian lubricants market is projected to register a CAGR of 2.32% to reach 1.34 billion liters by 2026. Due to the increasing use of machinery in sectors like mining, construction, and agriculture, heavy equipment is the fastest-growing end-user of lubricants in the country. For more latest insights, tap to know more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The Germany lubricants market is projected to register a CAGR of 1.87% to reach 959.89 million liters by 2026. The major players in this market are BP Plc (Castrol), ExxonMobil Corporation, FUCHS, Royal Dutch Shell Plc, and TotalEnergies. For more updates on the lubricants market, click to see more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The United Kingdom lubricants market is projected to register a CAGR of 2.08% to reach 432.40 million liters by 2026. Among non-renewable energy capacity, coal, non-CCGT gas, oil, and other fuels account for 10.8 GW. In June 2021, the United Kingdom announced plans to close the existing coal power generation plants by October 2024, a year earlier than the initial plan. For more instrumental input, click to see more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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Europe has been one of the leaders in adopting electric vehicles across the world. Various governments in Europe have been providing major economic incentives for scrapping old diesel cars and replacing them with electric cars. There has been a significant rise in the number of charging stations for electric vehicles in countries like France and Germany over the last five years. This trend is expected to continue during the forecast period. For more key insights, tap to know more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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Among all end-user segments, lubricants in the power generating sector were the least affected by the COVID-19 pandemic as demand for electricity generation was unaffected. Thermal power capacity is predicted to increase from 55.3 GW in 2020 to 67.2 GW in 2030. Overall, lubricant consumption is estimated to record a CAGR of 6.43% between 2021-2026 in this segment. For more insightful input, click to see more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The United States lubricants market is projected to register a CAGR of 2.51% to reach 7.30 billion liters by 2026. The major players in this market are BP Plc (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc, and Valvoline Inc. For more interesting updates, tap to know more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The Vietnam automotive engine oils market is projected to register a CAGR of 4.51% to reach 232.16 million liters by 2026. In April 2021, Motul launched two engine oils, namely CLASSIC EIGHTIES 10W-40 and CLASSIC NINETIES 10W-30, for classic cars manufactured between the 1970s and 2000s For more insightful updates, tap to know more: Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The Indonesia automotive engine oils market is projected to reach 559.46 million liters by 2026. The restoration of economic activities and growing demand for automatic scooters are anticipated to revive the consumption of motorcycle engine oils from 2021. During 2021-2026, motorcycle engine oil consumption is likely to record a CAGR of 5.71% in Indonesia. For more updates, tap to see more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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Many companies such as Royal Dutch Shell PLC, GS Caltex, ExxonMobil, and Petronas have been expanding their product portfolio by launching engine oils for hybrid vehicle models. Shell has partnerships with many vehicle manufacturers, including Hyundai, Volvo, MAN, Ferrari, and BMW, to supply various grades of engine oils. For more in-depth inputs, click to read more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.