BP I had quite a lot of natural gas holdings so I’m sure they are seeing a lot of opportunity right now. With new(ish) leadership at BP softening their net zero commitment isn’t surprising- andothers are too. Shell remain involved with hydrogen.
I agree, but look long term and the performance of CWR is similar to INRG. Is CWR up there with the best of the index, or is Hydrogen not the growth sector / solution to decarbonisation we all thought?
Personally, I am considering doubling down on this as my average is around 110p. Results are due out in a few weeks, question is to top up now or after then with more information to hand.
What I read is green hydrogen in many (but not all) places will not be cost competitive in the 2020s. That’s partly due to the cost of renewable energy but also the regulatory regime (aka subsidies). Therefore Hydrogen will be predominantly blue, so with CCS. However subsidies and Contracts for Difference are some of the ways it can be encouraged - and is being encouraged.
BP is still spending over £600m a year on green tech and that includes two green hydrogen facilities (Lingen, Castellon), and the one it cancelled will now be a blue hydrogen facility instead.
Page 18: “In low carbon energy, we expect capital expenditure, on average, will be less than $800 million per year through 2027, around half of which is allocated to hydrogen and CCS projects already through FID.”
https://www.yorkshirepost.co.uk/business/bp-axes-teesworks-green-hydrogen-project-5019862
BP I had quite a lot of natural gas holdings so I’m sure they are seeing a lot of opportunity right now. With new(ish) leadership at BP softening their net zero commitment isn’t surprising- andothers are too. Shell remain involved with hydrogen.
OB
I agree, but look long term and the performance of CWR is similar to INRG. Is CWR up there with the best of the index, or is Hydrogen not the growth sector / solution to decarbonisation we all thought?
Personally, I am considering doubling down on this as my average is around 110p. Results are due out in a few weeks, question is to top up now or after then with more information to hand.
What I read is green hydrogen in many (but not all) places will not be cost competitive in the 2020s. That’s partly due to the cost of renewable energy but also the regulatory regime (aka subsidies). Therefore Hydrogen will be predominantly blue, so with CCS. However subsidies and Contracts for Difference are some of the ways it can be encouraged - and is being encouraged.
BP is still spending over £600m a year on green tech and that includes two green hydrogen facilities (Lingen, Castellon), and the one it cancelled will now be a blue hydrogen facility instead.
https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2024.pdf
Page 18: “In low carbon energy, we expect capital expenditure, on average, will be less than $800 million per year through 2027, around half of which is allocated to hydrogen and CCS projects already through FID.”
OB
Thought these might be relevant. Not much good news on hydrogen around unfortunately:
https://www.yahoo.com/news/hydrogen-hopes-shudder-amid-spate-130000969.html
It’s an area I’m reading closely.