Baker Hughes in Al Arabiya: Oil demand will return to 2019 levels by the end of 2022

Baker Hughes chairman and chief executive Lorenzo Simonelli said in an interview with Al Arabiya, gone in aired today, Thursday, that Baker Hughes, a tech energy company, launched a plan to achieve it in 2019 zero net, through three main axes, Primo, regarding first and second range emissions, and trying to answer questions about how to modify the internal operations of the company, as well as working with the suppliers of the company to reduce the intensity of the operations of Baker Hughes.

He added that, therefore, they were taken in consider the company’s production plants, modifying the lighting, and launching energy questionnaires in order to reduce emissions at target rates.

He continued: “We also took in considering the conversion of the fleet of auto in an electric fleet, as well as the conversion of robotic cranes from diesel to fuel cells, and we have applied multiple technologies on a large scale to reduce the footprint of our products and services. we deliver. ”

Lorenzo Simonelli said: “On the other hand, we are also looking to change the source of our energy we get to run our production operations and we have entered into contracts with renewable energy suppliers to provide that energy we need, so even when it comes to developing our products, we always take carbon emissions into account and think about how to reduce their density.

He added that this is a journey that began in 2004 when Baker Hughes was a subsidiary of GE, which launched the eco-magination program, and so this journey is a journey that began a long time ago and we know it well.

He pointed out that the company is interested today in addressing third-tier emissions, and is committed to bringing a zero emissions in the first and second bands by 2050, and before that, to reduce them by 50% by 2030.

The CEO continued: “So we’re looking into the environment in where Baker Hughes products are used and how we are trying to interact with different stakeholders to reduce their carbon footprint as well. This requires us to look at the turbines, the air compressor control units and the electric pumps semi- floats that we make while working in the fields. We are still working on this together with our customers. “

Baker President and CEO Hughes said, “Long-term forecasts are known to be a high-risk issue, but our expectations were correct and today we see an improvement in oil and gas services business beyond. in North America, but also in low-cost basins at an international level ”.

He added that despite some delays and delays in projects due to the repercussions of the pandemic, but looking to 2022, we still expect demand to return to 2019 levels by the end of next year, and this is especially true for the Middle East, where momentum of the anticipated activity is evident in The expectations and plans of national oil companies in the region, and as for international oil companies, in particularly those in North America, financial discipline is still dominant in terms of returning funds to shareholders, but some independent oil companies have already begun to increase their spending in capital account with the arrival of the new year.

On how to achieve net emissions zero, Baker President Hughes said achieving this goal requires joint cooperation, and what we have agreed with Shell is a partnership around the net goals zero and not just on hydrogen, but the deal expands to include many technologies in able to reduce emissions, or A partnership that is beneficial to all.

He explained that “Shell” will provide electricity from renewable energy for use in the various facilities of Baker Hughes, in Cambio we will work with “Shell” in managing its emissions and reducing its carbon footprint. It explored how we can work together on a wider use of carbon capture and storage technologies, in addition to the uses of hydrogen.

Lorenzo Simonelli added that Baker Hughes has turbines in capable of running 100% hydrogen gas, and therefore we are looking at a number of options to reduce Shell’s carbon footprint and help it achieve its goal of achieving it. zero net.

He said Baker Hughes has a portfolio of start-up technology and allows them to operate in independently, away from the bureaucracy found in large companies.

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