U.S. markets closed
  • S&P Futures

    4,401.75
    +12.25 (+0.28%)
     
  • Dow Futures

    34,926.00
    +94.00 (+0.27%)
     
  • Nasdaq Futures

    14,988.75
    +33.00 (+0.22%)
     
  • Russell 2000 Futures

    2,232.60
    +11.00 (+0.50%)
     
  • Crude Oil

    73.85
    -0.10 (-0.14%)
     
  • Gold

    1,817.10
    -0.10 (-0.01%)
     
  • Silver

    25.56
    +0.01 (+0.03%)
     
  • EUR/USD

    1.1869
    -0.0027 (-0.23%)
     
  • 10-Yr Bond

    1.2390
    -0.0300 (-2.36%)
     
  • Vix

    18.24
    +0.54 (+3.05%)
     
  • GBP/USD

    1.3896
    -0.0062 (-0.44%)
     
  • USD/JPY

    109.7100
    +0.2490 (+0.23%)
     
  • BTC-USD

    40,712.32
    -1,076.00 (-2.57%)
     
  • CMC Crypto 200

    955.03
    +5.13 (+0.54%)
     
  • FTSE 100

    7,032.30
    -46.12 (-0.65%)
     
  • Nikkei 225

    27,283.59
    -498.81 (-1.80%)
     

BP to Cooperate With CEMEX for A Zero-Carbon Cement Industry

·3 min read

BP plc BP signed a memorandum of understanding with CEMEX, S.A.B. de C.V. ‎‎CX to facilitate the advancement of the latter’s 2050 ambition of delivering net-zero carbon dioxide concrete globally as part of the plans to achieve net-zero emissions in cement production.

The oil and gas industry is under immense pressure to reduce emissions as investors are becoming strategic drivers of decarbonization action. Hence, energy companies are implementing strategies to reduce emissions not only from their operations but also from other fossil-fuel intensive industries such as cement manufacturing. Notably, the cement industry is one of the most difficult industries to decarbonize as cement production is a major source of global CO2 emissions.

Thus, BP and cement giant CEMEX decided to seek solutions to decarbonize the process of cement production and transportation. Potential solutions include the use of low-carbon power and transport, improving the energy efficiency of cement production, carbon offsets, and carbon capture and storage to reduce greenhouse gas emissions. Moreover, the companies will develop urbanization solutions ‎to decarbonize cities.

CEMEX believes that the world will remain heavily dependent on concrete even though cement making is highly energy-consuming. This is because concrete is the primary building material for residential and commercial constructions, and there is no alternative for its features, strength and resilience. Hence, it will remain crucial in a ‎low-carbon economy.

CEMEX is playing a major role in decarbonizing ‎the global cement industry with an accelerating rate of progress in all regions, including ‎Mexico and Latin America. Notably, the collaboration with CEMEX will help speed up the decarbonization of the industry and progress towards BP’s ‎long-term strategy of becoming a net-zero emission business by 2050 or sooner.

Company Profile & Price Performance

Headquartered in London, U.K., BP is a fully integrated energy company, with a strong focus on renewable energy.

Shares of the company have outperformed the industry in the past six months. Its stock has gained 38.7% compared with the industry’s 32.8% growth.

Zacks Rank & Stocks to Consider

The company currently carries a Zack Rank #3 (Hold).

Some better-ranked players in the energy space are China Petroleum & Chemical Corporation SNP and Royal Dutch Shell Plc RDS.A, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Over the past 60 days, the Zacks Consensus Estimate for China Petroleum’s 2021 earnings has been raised by 23.9%.

Shell’s earnings for 2021 are expected to increase 17.3% year over year.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Cemex S.A.B. de C.V. (CX) : Free Stock Analysis Report

China Petroleum & Chemical Corporation (SNP) : Free Stock Analysis Report

BP p.l.c. (BP) : Free Stock Analysis Report

Royal Dutch Shell PLC (RDS.A) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research