Daily Oil Bulletin Features Highwood's Take on Navigating Canadian Emissions Funding
There have been countless announcements for federal and provincial funding for emission reduction projects. Jessica Shumlich sheds light on how to maximize your benefits from these announcements and receive part of the $1 billion funding that is available for various projects. Click here to view Highwood’s recommended strategies and our updated cheat sheet listing the pros and cons of each funding opportunity in Western Canada .
Job Posting: LDAR-Sim Software Developer at the University of Calgary
COVID-19 Pandemic Affects Methane Emissions and Oil Prices
While oil prices were fluctuating during the pandemic, researchers studied the changes in methane emissions in the Permian Basin using airborne and ground-based data, backed by satellite observations. Their research observed temporary reductions in methane emissions during the market crash, likely driven by a decrease in new well development. Read more in their paper, “Concurrent variation in oil and gas methane emissions and oil price during the COVID-19 pandemic“ here.
UN Special Envoy for Climate Backs the Idea of a Global Carbon Offset Market
In last week’s Highwood Bulletin, we covered an article suggesting that carbon offset markets require radical reform (view here). A new article in The Financial Times extends the discussion. Currently, global carbon pricing initiatives only account for 22% of GHG emissions. According to Mark Carney, the current voluntary carbon market is too small to achieve methane reduction goals. Read about his call for a global carbon offset market here.
IETA Releases their 2020 Annual Report
The International Emissions Trading Association (IETA)’s 2020 annual report features steps taken by governments to meet the 2015 Paris Agreement, how developing countries are implementing carbon pricing, how the EU emissions trading system (EU ETS) is changing, an example of different carbon market scenarios, and more.
Machine Learning can be Used to Predict High Emitting Sites
Ground teams that survey for methane leaks can be costly and time consuming. “A Machine Learning Approach to Methane Emissions Mitigation in the Oil and Gas Industry”, authored by Lyra Wang, a Data Science Ph.D. student at Harrisburg University, showcases how machine learning algorithms can reduce methane mitigation costs by prioritizing high-emitting sites for follow-up repair. Read more about her research here.
NGIF Opens Innovation Funding Applications in 'Natural Gas Production' Stream
The Natural Gas Innovation Fund (NGIF) has $3 million available for start-ups and SMEs with innovation solutions in 5 focus areas. Read about the 5 focus areas and how to apply here. The February 2, 2021 deadline for submission is fast approaching. Highwood Emissions Management has the expertise to help your company take part in the available funding. Contact us here for more details.