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Oil Slides 4% on China Virus Curbs, Climate Warning
Oil prices fell by 4% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.A United Nations panel's dire warning on climate change…
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Methane Emission Reduction takes Center Stage of UN GHG Report
In four decades of climate negotiations, the world has focused intensely and exclusively on the most abundant climate-warming gas: carbon dioxide. This year, scientists are urging a focus on another potent greenhouse gas – methane – as the planet's best hope for staving off catastrophic global warming.Countries must make "strong…
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China’s 2021 Crude Oil Imports Down 5.7% - BIMCO
Chinese crude oil imports fell year-on-year in June and July, ending a streak of five months of accumulated year-on-year growth. After the first seven months of 2021, China’s crude oil imports are down 5.7% compared with the same period last year. January to July imports stood at 301.9m tons…
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The Path to Zero: Mitsubishi Shipbuilding, TotalEnergies Study LCO2 Carrier
Mitsubishi Shipbuilding has initiated a feasibility study with TotalEnergies for the development of a liquefied CO2 (LCO2) carrier, a key plank in the CO2 ecosystem as carbon dioxide capture, utilization, and storage (CCUS) attracts increasing attention worldwide. An LCO2 carrier…
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DNV Report Says Maritime Energy Transition is Gaining Speed
More than 1000 ships are expected to be ordered per year through 2030, and with growing pressure on the shipping industry to decarbonize, the shipowners must be careful with fuel selection and ship design, as a misstep here can have damaging consequences in the future.This is according…
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Exxon Considers Pledging Net-zero Carbon Emissions by 2050
Exxon Mobil Corp is considering a pledge to reduce its net carbon emissions to zero by 2050, the Wall Street Journal reported on Thursday…
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15 Bids in To Market Guyana Governent Crude
Guyana received bids from 15 different companies aiming to market the government's share of the crude produced off the South American country's coast…
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Chinese Firms Seek LNG Cargoes, Demand is Strong
Two Chinese firms are seeking liquefied natural gas (LNG) cargoes for delivery over August to November as summer demand in…
Latest news
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UK and Norway Sign Deal On New Power Interconnector
Britain and Norway on Thursday signed a bilateral treaty on electricity interconnection to help formalize power trading between the two countries…
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FuelTrax, TOPL Partner on BaaS Platform to enhance Energy Trade Transparency
FuelTrax has partnered with Topl to use Topl’s Blockchain-as-a-Service (BaaS) platform to meet the demand for greater transparency…
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OPEC+ Sees No Need to Meet US Call for More Supply
OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S.
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"Early Bird" Registration for 2021 Maritime Risk Symposium ends soon
The University of Houston’s College of Technology will host the 12th Annual Maritime Risk Symposium (MRS 2021), in collaboration…
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Exxon Suspended from Climate Advocacy Group It Helped Form
Exxon Mobil Corp was suspended from advocacy group Climate Leadership Council (CLC) that looks to make policies to address climate change…
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China's Crude Oil Imports Rebound
China's crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance, though in
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Siemens Gamesa, GRI Renewables Invest in NE England Offshore Wind Production
Siemens Gamesa and GRI Renewables Industries will invest more than $360 million into offshore wind manufacturing facilities…
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Saudi Aramco Q2 Profit Soars Nearly 300% to $25.5B
Saudi Arabian state oil producer Aramco reported a near four-fold rise in second-quarter net profit, beating expectations…
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US Drillers Add Oil and Gas Rigs for Fifth Week in Six
U.S. energy firms this week added oil and natural gas rigs for the fifth time in six weeks although growth in the rig count…
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Oil Headed for Big Weekly Loss on Demand Worries
Oil prices tumbled on Friday, closing out a week of losses on worries that travel restrictions to curb the spread of the…
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Floating Solar: DNV Advises on Indonesian Floating Solar Photovoltaic Project
Floating solar photovoltaic (PV), initially considered a niche technology, is now the fastest-growing solar PV category,…
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Japanese Project Tests Ship-based CO2 Capture System
Mitsubishi Shipbuilding has been working in cooperation with Kawasaki Kisen Kaisha, Ltd. (“K” Line) and Nippon Kaiji Kyokai (ClassNK)…
Offshore Oil & Gas
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World’s Longest [37 km] ETH Production Pipeline installed offshore Norway
Neptune Energy reports the installation and testing of the world’s longest traceheated subsea production pipeline at its…
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Buyers Reportedly Line-up for a Crack at Seadrill
Noble Corp and a consortium that includes Transocean Ltd and Dolphin Drilling are competing to acquire the assets of Seadrill Ltd…
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Report says BHP Mulls Oil & Gas Exit
Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels…
Shale Oil & Gas
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BP Profit Triples to $2.6B in Q1 on Strong Oil, Gas Trading
BP's profit more than tripled to $2.6 billion in the first quarter thanks to stronger oil prices and bumper revenue from natural gas trading, paving t
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U.S. Crude Oil Exports: When 'Less is More'
Longer sailing distances cushion fall in US crude oil exportsTon mile demand generated by US crude oil exports has fallen…
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US House Bill Seeks $8 Bln for Abandoned Oil and Gas Well Cleanup
A U.S House of Representatives Democrat introduced a bill on Thursday authorizing $8 billion to plug and clean up abandoned oil wells nationwide…
LNG
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McAllister to Operate ATB for Polaris New Energy LNG Bunkering Ops
McAllister Towing LNG Services, LLC will serve as technical manager for the Polaris New Energy LNG bunkering operation in Florida…
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Lithuania Seeks Alternative Bids for LNG Import Terminal
Lithuania is seeking alternative bids from providers of floating liquefied natural gas (LNG) terminals to potentially replace its existing import term
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From Trash to Fuel: BioLNG Production Project Takes Shape in France
EveRé, Elengy, TotalEnergies and the CMA CGM Group are engaged in a study of a BioLNG production plant project at Marseille’s port…
Renewables
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Siemens Energy CEO Buch Calls Wind Division Problems 'Extremely Annoying'
Siemens Energy cranked up the pressure on wind turbine division Siemens Gamesa on Wednesday, saying it was "extremely annoying"…
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Renewables Surged in 2020, but No 'Decisive shift' Towards Climate Goals Yet, BP Says
Wind and solar power capacity expanded rapidly in 2020 while global energy demand cratered because of the pandemic, yet this…
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EU Approves $21.27B Just Transition Fund
European Union countries on Monday approved the bloc's flagship fund to wean them off fossil fuels and protect communities most affected…
Technology
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Alphabet Winds Down Makani
Alphabet, Google's parent company, announced that it is calling it quits on its efforts to build and monetize its Makani…
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CMA CGM Joins Energy Observer in Hydrogen Project
French shipping giant CMA CGM is joining forces with Energy Observer within a project focusing on testing the potential of…
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Toshiba Delivers Fuel Cell System to Ship
The provider of energy industry solutions Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) announced that the…
Legislation
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Biden to Target Drilling, Fossil Fuel Subsidies in New Climate Orders
President Joe Biden was set on Wednesday to sign executive actions to combat climate change, including pausing new oil and…
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Biden Administration Suspends Federal Oil and Gas Permitting
The Biden administration has temporarily suspended oil and gas leasing and permitting on federal lands and waters while it…
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Biden Announces Return to Global Climate Accord, New Curbs on US Oil Industry
U.S. President Joe Biden on Wednesday announced America's return to the international Paris Agreement to fight climate change…
