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Reversing the Flow – Repurposing Wells for Carbon Capture & Storage?
2020 is a year that’ll be remembered for many reasons. COVID-19 aside, it’s been a turning point for the offshore industry, one where net-zero solutions have been top of the agenda, including within well abandonment.Industry and regulators have been looking at whether wells can be repurposed for carbon capture and storage (CCS).
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VIDEO: Wärtsilä’s Compact Reliq Aims to Optimize BOG Reliquification
As the maritime industry steams toward decarbonization, the path to zero emissions will include many stepping stones. Wärtsilä’s Compact Reliq is a step change in efficiently reliquefying boil off gas (BOG) on LNG carriers, as Lasse Wichstrøm and Sylvain Fabreguettes discuss with Maritime Reporter TV.LNG carriers have…
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Exxon to Lay Off 300 Workers in Singapore
Exxon Mobil Corp plans to cut its workforce in Singapore, home to its largest oil refining and petrochemical complex, by about 7% amid the "unprecedented market conditions" resulting from the COVID-19 pandemic, it said on Wednesday.About 300 positions out of 4,000 current jobs will be impacted by the end of 2021…
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Chevron, Microsoft, Schlumberger to Build Carbon Capture Plant in California
Chevron Corp is partnering with Microsoft Corp, oilfield services firm Schlumberger and privately held Clean Energy Systems to build a carbon capture plant in California, as the U.S. oil major expands investments in renewable technology.Fossil fuel companies have faced increased pressure in recent years to reduce emissions…
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Oil Surges After OPEC+ Extends Cuts
Oil prices jumped about 3% on Friday, hitting their highest levels in over a year, following a stronger-than-expected U.S. jobs report and decision by OPEC and its allies not to increase supply in April.Brent futures rose $2.10, or 3.2%, to $68.84 a barrel by 11:25 a.m. EST (1625 GMT).
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Geothermal Energy: A New Life for Old Offshore Oil Wells?
Old offshore oil wells could be turned into geothermal energy producers under a plan by a new consortium. The group, The…
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Shell Accelerating Renewables Push in Germany
Royal Dutch Shell in Germany aims to produce aviation fuel and naphtha made from crops and renewable power and to increase…
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Denmark Might Not Reach Its 2030 Emissions Reduction Goal as It 'Relies on Unproven Tech'
Denmark risks not reaching its goal to cut carbon emissions by 70% by 2030 because it is too reliant on unproven technology…
Latest news
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Saudi Aramco, Chevron Chiefs See Global Oil Demand Recovery
Global oil demand is recovering and could return to around pre-pandemic levels next year, the chief executive of Saudi Aramco told an oil and gas conf
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Venezuelan Oil Exports Rise on Larger Sales to Asia
Venezuela’s oil exports rose in February to over 700,000 barrels per day (bpd), their highest level in 10 months, pushed…
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MARKETS: Hedge Funds Sell Oil
Hedge funds have reduced their position in petroleum futures and options for the first time in 16 weeks, the first weekly…
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ENERGY: Oil Rises on Vaccine Optimism, U.S. Stimulus
Oil prices open March 2021 on a strong note, supported by optimism about COVID-19 vaccinations, a U.S. stimulus package and…
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OPEC+ to Weigh Modest Output Boost, Sources Say
OPEC+ oil producers will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said…
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Cheniere Expects Rising LNG Demand with Vaccine Rollout
Cheniere Energy Inc, the top U.S. liquefied natural gas producer, on Wednesday raised its full-year adjusted earnings forecast…
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Vysus Group Acquires Promaps Technology
Engineering and technology consultancy Vysus Group has acquired Norwegian based software firm, Promaps Technology.This is…
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CorPower Extends Equity Funding for Commercial Scale Demo
After securing a private placement of 9 million Euros, CorPower has extended its equity funding to 20.3 million Euros, for…
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RP Global to develop a 1GW solar PV and wind project pipeline in Poland
Renewable energy developer and investor RP Global is working on a pipeline of projects in Poland to deliver more than 1,000…
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Ecological Cable Protection in Long Island Sound
December 2020 marked the deployment of fifty 150-sq. ft. nature-inclusive ECOncrete Marine Mattresses, providing large-scale…
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WinGD Rolls Out Four New Versions of its X72DF Maritime Powerplant
WinGD updated its X72DF dual-fuel engine platform with four new versions, new versions aimed to provide ship design flexibility…
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Energy Charter Treaty Talks: EU to Seek Fossil Fuel Phase-out
The European Union's executive will push for a 10-year phase-out of the protection for fossil fuels under an international energy treaty…
Offshore Oil & Gas
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Eco Wave Power Commences Grid Connection Works in Israel
While wave power is still in its infancy relative to offshore wind in the renewable power space, several companies are making…
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Virtual Conference to Focus on Transatlantic Marine Renewables
Marine industry experts from Portugal and Canada are staging a special Blue Economy conference to spark transatlantic business growth.
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Autonomous Offshore Power Trials Get Underway off Hawaii
With the advent of autonomy on and under the water, part of the value proposition is the ability to stay at sea, on station…
Shale Oil & Gas
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US Oil Industry Group Pledges to Fight Possible Biden Fracking Limits
If U.S. President-elect Joe Biden tries to restrict development of oil and gas drilling on federal lands, the American Petroleum…
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Rolling the Dice in Chaos: The Prospects of Investment in the Gas Industry
As stated in the Declaration of Malabo at the 5th Summit of Heads of State and Government of the GECF Member Countries, in…
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Shale Pioneer Chesapeake Energy Files for Bankruptcy
Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy…
LNG
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LNG Shipping Rates from US Surge to Record Highs
The cost of shipping liquefied natural gas (LNG) from the United States to Asia hit a record high on Tuesday as appetite…
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Japan Faces LNG Shortage Amid Supply crunch, Cold Weather
JERA, Japan's biggest electricity generator and the world's largest buyer of liquefied natural gas (LNG), is operating gas- power plants at lower rate
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CNOOC Leads First LNG Group Purchasing on Shanghai gas exchange
Chinese state-owned China National Offshore Oil Corp (CNOOC) has led the first group purchasing order for liquefied natural…
Renewables
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Offshore Oil Firm Eco Atlantic Launches Renewables Division
Eco Atlantic, an oil company with offshore oil and gas acreage in Guyana and Namibia, said Tuesday it had formed a new solar…
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ArcVera Gets IECRE Approval for Wind Power Performance Testing Services
ArcVera Renewables, a consulting and technical services for wind, solar, and storage projects, has received an approval by…
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CorPower Moves Foward with its Plan to Generate Energy from Waves
CorPower Ocean is set to move forward fast on its wave energy project in the Atlantic Ocean after securing a 10-year license…
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 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…
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EU Energy Watchdog Sanctions Bosnia over Non-compliance with Rules
The European Union's energy watchdog has extended sanctions against Bosnia for another two years over the Balkan country's…
