Wednesday, April 1, 2020

Europe News

COVID-19 Oil Demand Hit Renders OPEC+, Trump Actions Irrelevant

Imagine for a moment that the Organization of the Petroleum Exporting Countries (OPEC) and Russia had agreed at the start of this month to extend and deepen their crude oil output cuts. It wouldn't have made the blindest bit of difference.While it was only three and half weeks ago…

Yamal LNG Resumes Loading Operations in Norway

(File photo: Novatek)

Yamal LNG, controlled by Russia's largest liquefied natural gas (LNG) producer Novatek, is resuming ship-to-ship transfers in Norway, Novatek said on Monday, after plans to shift the operations to Russia fell through due to coronavirus.Novatek suspended transfers…

Fully Laden LNG Tankers Sit Idle Off Indian Ports after Force Majeure

© Wojciech Wrzesien/AdobeStock

At least five fully-laden liquefied natural gas (LNG) tankers are idling offshore India, as yet unable to discharge their cargoes, after importers there declared force majeure earlier this week, according to an analyst and shipping sources.Gas demand is falling…

Fred. Olsen Windcarrier to Install CFXD Wind Turbines

Brave Tern - Image by Fred. Olsen Wind Carrier

Fred. Olsen Windcarrier’s jack-up vessel Brave Tern has been awarded a contract to transport and install wind turbines selected for the Changfang and Xidao offshore wind farms (CFXD) in Taiwan.The contract for the transportation and installation of MHI Vestas…

Brent, WTI Fall as Coronavirus Spreads

© Pavel Ignatov / Adobe Stock

Brent fell by 10% on Monday, and U.S. crude to below $30, as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.Brent crude was down $3.58…

Innovation Pushes Floating Wind Farm Mkt

Image: Saitec

RWE Renewables (RWE) recently partnered with Spanish engineering firm Saitec Offshore Technologies (Saitec) to develop a floating platform for offshore wind turbines.In a joint pilot project called “DemoSATH”, the RWE and Saitec will start testing a floating…

North Sea Aims 60GW Offshore Wind by 2050

Hans Timmers, chairman of the NWEA. Photo: Port of Rotterdam

The wind turbines on the North Sea can now deliver one Gigawatt in Netherlands. 60 Gigawatts should be achievable in 2050, the target for Europe being 450 Gigawatts.This is according to Netherlands Wind Energy Association (NWEA).Hans Timmers, chairman of the NWEA thinks that the Netherlands is facing a huge challenge.

ABB Bags DolWin5 Gig

Map: ABB

Swiss-Swedish multinational corporation ABB has won EUR10.6 million order for digital products and services to support the DolWin5 (Epsilon) offshore grid connection project in Germany.According to a press note from the technology company, ABB will provide a system for IT infrastructure…

Offshore Wind Hits 22GW for Europe

Graph: GlobalData

Europe has expanded its offshore leadership by adding 3.6 gigawatt (GW) of new commissioned capacity in 2019, bringing the total offshore wind installed capacity at the end of 2019 to above 22GW.According to the recent report of GlobalData, spreading across 12 European countries…

Global LNG Demand to Double by 2040: Shell

Image: Shell

Global demand for liquefied natural gas (LNG), rose by 12.5% to hit 359 million tons last year, according to Royal Dutch Shell’s annual LNG Outlook report.According to the forecast by Shell,  LNG demand was expected to double by 2040 to 700 million tons, with…

Wintershall Noordzee Starts Gas Production from Sillimanite Field

Image credit: Wintershall Noordzee

Wintershall Noordzee has started gas production from its operated Sillimanite field in the North Sea area between the UK and the Netherlands.The company, a joint venture of Wintershall Dea and Gazprom EP International, said Thursday the unitized gas field, discovered in June 2015…

US Sanctions on Rosneft Trading Shifting Crude Flows

© Nikita Maykov / Adobe Stock

U.S. sanctions on Russian Rosneft's trading arm will disrupt a slice of global crude flows and may prompt refineries in Europe, India and the United States to shift purchases to other crude suppliers, traders said.The United States on Tuesday redoubled efforts to oust Venezuelan President Nicolas Maduro by barring U.S.

TWMA Appoints Aslaksen as New CEO

Halle Aslaksen  (Photo: TWMA)

Specialist drilling waste management company, TWMA, has announced the appointment of Halle Aslaksen as its new CEO.Aslaksen joins the Aberdeen-headquartered company from the Norwegian hydropower operator Småkraft, where he served as CEO. He was previously CEO…

Rystad: 2020 Biggest Year for Offshore Wind Jackets

Jacket foundation for an offshore wind turbine / Image: Mike Mareen - AdobeStock

The global offshore wind farms (OWF) that are set for start-up this year will make 2020 the year with the highest ever use of steel jacket foundations for new developments, Norwegian energy intelligence firm Rystad Energy said in a report on Thursday.The trend…

Hapag-Lloyd Trials Biofuel

Image: Hapag-Lloyd

German shipping major Hapag-Lloyd announced that one of its ships recently refueled in Rotterdam with an eco-friendly biofuel, as part of its plan to reduce CO2 emissions."For the first time, the “Montreal Express” is being powered by so-called “B20” fuel,…

Coronavirus hits Supertanker Rates

© Trueffelpix/AdobeStock

Freight rates for supertankers on the Mideast Gulf and U.S. Gulf routes to Asia have fallen to their lowest since mid-September as the coronavirus outbreak hit Chinese oil demand, ship brokers told Reuters.China's Sinopec Corp, Asia's largest refiner, and so…

Global Wind Capacity to Reach 626 GW

Image courtesy: Ørsted

The global wind power industry is expected to install more than 626,800 MW of new capacity over the next decade, said a report.According to a report from Navigant Research, this new capacity represents a market worth more than $92 billion in 2019 and more than…

Offshore Wind: The Domino Effect

Matt Tremblay, SVP, Global Offshore, ABS

Matt Tremblay, SVP, Global Offshore, ABS, discusses the next hot growth market ... offshore wind. While the market grows, the question begs: Is the U.S. marine industry ready to meet demand?The American Bureau of Shipping convened a conference to discuss the pace and direction of the U.S.

Osaka Gas Looks to Sell Spare LNG in Europe

© Mike Mareen / Adobe Stock

Japan's Osaka Gas has offered two liquefied natural gas (LNG) cargoes from the newly-commissioned Freeport LNG project in the United States for delivery into Europe, industry sources said.Mild weather in Japan and a weaker Chinese economy have helped to drag…

Norway PM to Name Tina Bru as New Oil Minister -DN

Tina Bru - Image by Kjetil Ree - Source: Wikimedia Commons / CC BY-SA 3.0 license

Norwegian Prime Minister Erna Solberg will appoint Conservative lawmaker Tina Bru as oil and energy minister, business daily Dagens Naeringsliv and public broadcaster NRK reported on Thursday, citing unnamed sources. The office of the prime minister declined to comment.