Wednesday, September 18, 2019

Equinor News

Offshore Wind Conference Set for SUNY Maritime

© peterschreiber.media/Adobe Stock

The Center of Excellence for Offshore Renewable Energy at the State University of New York Maritime College and the Maritime Industry Museum at Fort Schuyler, are hosting the Ocean Wind Energy Conference on Thursday, September 26, 2019 at the Maritime Academic Center, SUNY Maritime College.Serving as the keynote speaker is Alana Duerr, Ph.D., Director…

Fire Reported on Tanker at Sture Terminal

A fire onboard an oil tanker at Norway's Sture crude export terminal has been put out, the fire service told Reuters on Friday.The fire broke out in the engine room of the Dubai Harmony tanker during loading at the Equinor oil terminal on Norway's west coast, according to rescue services and police.No one was injured, and the terminal's output was not affected by the incident…

Bahamas Oil Cleanup Underway

(Photo: Equinor)

Equinor said on Thursday that an onshore team has started to recover oil and move it into tank storage as part of cleanup efforts at the South Riding Point terminal in the Bahamas after the impact of Hurricane Dorian.Initial recovery assets have been deployed and additional machinery and equipment is being added, as a response team continues to assess…

Exxon Discussing Norway Asses Sale with Var Energi

(Photo: Harald Pettersen / Equinor)

Oil major ExxonMobil said on Friday it had signed an exclusivity agreement with Var Energi for negotiations regarding a possible sale of Exxon's Norwegian upstream assets.An acquisition of Exxon's production assets in Norway would cement Var Energi's position as the second largest petroleum producer in Norway after Equinor, excluding state-owned Petoro, which manages government stakes in offshore licenses.Reuters reported on Sept.

Equinor Sends Vessels to Clean up Bahamas Oil Spill

(Photo: Equinor)

Two vessels with clean-up equipment and personnel will arrive to the Bahamas within a few days to deal with an oil spill at the South Riding Point terminal damaged by hurricane Dorian, operator Equinor said on Monday.The company reiterated there were no indications of ongoing leaks form tanks, as well as no indications that the oil spill was reaching nearby beaches or the ocean.(Reporting by Nerijus Adomaitis, editing by Gwladys Fo

Equinor to Clean up Onshore Bahamas Spill

Satellite image after the impact of Hurricane Dorian on the South Riding Point oil terminal at Grand Bahama Island. The red outline denotes the plume area of the oil spill, ca. 0.5 sq km, and ca. 1.3 km in length. (Photo: ESA Sentinel-2 satellite)

Equinor will clean up the onshore oil spill discovered this week at its Bahamas storage terminal in the aftermath of hurricane Dorian, the Norwegian energy company said on Sunday.In preparation for the hurricane, Equinor shut down operations at the South Riding Point terminal on Aug. 31 and none of its staff were at the site during the storm."Based on current visual assessments…

SUNY Maritime College Hosts Ocean Wind Energy Conference

Suny Maritime College (CREDIT: SUNY)

NYC Economic Development Corp. Signs on as Event Sponsor.The Center of Excellence for Offshore Renewable Energy at the State University of New York Maritime College and the Maritime Industry Museum at Fort Schuyler, proudly announce their partnership in hosting of the Ocean Wind Energy Conference on Thursday, September 26, 2019 at 9 a.m. in the Maritime Academic Center, SUNY Maritime College.

Green Marine Secures Windfarm Deal

Photo: Green Marine

Orkney-based Green Marine won a three-year contract to deliver operations and maintenance work for Equinor’s Dudgeon offshore windfarm.Green Marine will supply its Damen-built 2610 Twin Axe vessel, Green Storm, to assist in the operations and maintenance of the windfarm alongside support from the company’s experienced onshore team.Green Storm is a dedicated vessel for the offshore wind industry…

Voyager Targets Bulk Shipping for SaaS Solution

Voyager, a company offering a solution to the bulk commodity shipping market to operate in a unified and digital environment, announced completion a $1.5 million seed funding round co-led by ATX Venture Partners, Blue Bear Capital, GreenHawk Capital, and Phaze Ventures. Voyager’s new capital will be used to expand the Software-as-a-Service (SaaS) network’s offerings…

Corvus Energy Gets Shell Ventures Investment

Pic: Corvus Energy

Canadian-Norwegian battery maker Corvus Energy announced that it has finalized an investment deal with Shell Ventures.The investment is a step towards Shell’s ambition to decrease the carbon footprint of the energy products they sell by around 20% by 2035 and by around 50% by 2050, in step with society.Corvus Energy,  the developer and supplier of advanced energy storage systems (ESS) for maritime…

Equinor,YPF Pact on Argentina Wind Power

Pål Eitrheim, executive vice president for New Energy Solutions in Equinor. (Photo: Ole Jørgen Bratland)

Norwegian multinational energy company Equinor ASA and Argentine power producer YPF Luz have joined for the development of the Cañadón León wind farm in Santa Cruz in Argentina.As per agreement, a subsidiary of Equinor will subscribe to shares in Luz del León. The shareholders of YPF Luz are YPF S.A and an affiliate of General Electric.The agreement establishes that Equinor will have a 50% stake of Luz del León…

Exxon Mobil Profit Sinks

(File photo: ExxonMobil)

Exxon Mobil Corp on Friday reported a 21% drop in quarterly profit, its third period in a row of weaker year-over-year results, as sharply higher oil production was offset by weaker refining and chemicals business.Shares slipped 1.6 percent to $71.34 in early trading even though its 73 cents a share profit topped analysts' recently-lowered estimates.

BP Profits Lifted by Production Uptick

(Photo: BP)

A strong rise in oil and gas production helped BP offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares.BP's second quarter contrasts with Total and Norway's Equinor, which posted sharp earnings drops, and builds on a steady recovery after deep cost cuts since the 2014 downturn, project start-ups and last year's $10.5 billion purchase of BHP's U.S.

Tanzania Builds $30bn LNG Project

Medard Kalemani. Pic: Govt of Tanzania

Dr Medard Kalemani, Tanzania’s Minister of Energy, has confirmed the recently announced plans for a syndicate of oil companies to commence construction of the $30bn LNG project in 2022.In March, the government stated that it planned to complete negotiations with a group of international oil companies in September to develop the project.Led by Norwegian energy firm…

Total Plans $5 Bln in Asset Sales

(File photo: Malfere Damien / Total)

French energy giant Total will sell around $5 billion worth of assets, mostly from its upstream exploration and production business, as it seeks to focus on low breakeven projects that can weather weak oil prices, it said on Thursday.The company reported a 19% year-on-year drop in adjusted net profit to $2.9 billion in the second quarter, which it…

Equinor Q2 Earnings Lag Forecast

(Photo: Arne Reidar Mortensen / Equinor)

European oil major Equinor said on Thursday it expects less capital expenditure this year, partly due to further cost savings at its Johan Sverdrup oilfield, after reporting quarterly earnings slightly below forecasts.Adjusted earnings before interest and tax (EBIT) fell to $3.15 billion from the year-earlier result of $4.3 billion, missing the $3.4…

Offshore wind: One-stop power conversion

Optimal outputs: a wind-turbine permanent magnet generator at The Switch in Deyang. Image Courtesy Yaskawa’s The Switch

With the United States and China about to start their respective offshore wind build-ups, grid operators wondering about the efficiency of their turbines or the emissions-areas compliance of their wind-service vessels will be warmed to know there’s someone they can talk to. Yaskawa’s The Switch — a Japanese industrial giant’s European environmental tech business — is offering one-stop wind-energy shopping.

New York Awards Offshore Wind Contracts

© Fokke / Adobe Stock

New York on Thursday awarded two major offshore wind contracts to Norway's Equinor and a joint venture between Denmark's Orsted and U.S. utility Eversource, procuring more of the renewable power than it had planned as part of Governor Andrew Cuomo's ambitious plan to slash greenhouse gas emissions.Cuomo made the announcement at a New York City news…

Aker Energy IPO May be in Late 2019 or 2020

Aker Chief Executive Oeyvind Eriksen (Photo: Aker)

Norwegian investment firm Aker could launch its planned initial public offering (IPO) of Aker Energy in late 2019 or in 2020, depending on when Ghana approves the development plan of its Pecan oilfield, the CEO said.The company, controlled by Norwegian billionaire Kjell Inge Roekke, has said it wants to make Aker Energy a leading exploration and production company on Ghana's continental shelf."My educated guess is a late 2019 or du

IMO2020: The Rise of Bulk Liquid Hydrogen in Norway

Renderings of a bulk carrier for the transportation of liquefied hydrogen by Moss Maritime, Wilhelmsen Ship Management, Equinor, and DNV-GL. Photo credit: Moss Maritime.

Imagine a power distribution network where excess renewable energy from hydropower, wind, solar, and nuclear energy is converted to hydrogen and used as transportation fuel in the maritime industry. With the allure of a zero emissions fuel, a number of ship owners are starting to seriously consider hydrogen for newly built vessels. As a bold first step…