Thursday, July 25, 2024

For Us News

Solar, Wind Uptake to Reach 5.4 TWac from 2024 to 2033, Says Wood Mackenzie

Solar: Cumulative installed global solar PV capacity to nearly quadruple from 2024 to 2033. Source Wood Mackenzie

Global solar deployment to add 3.8 TWac of new project capacity by 2033 compared to 1.6 TW of wind power, while 640% growth is forecast for energy storageFrom 2024 to 2033, developers will bring more than 5.4 terawatts (TWac) of new solar and wind capacity online…

US Harbor Craft: Measuring Opportunity for Zero Emissions

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There are more than 4,000 harbor craft vessels in the U.S. deemed highly suited for zero-emissions operations, according to a recent report produced by CALSTART in partnership with Intelatus Global Partners.The report - “Sizing the U.S.

Floating Production – A Growing Segment in Transition

The FPSO offshore floating platform for oil production off the coast of Newfoundland, Canada. The structure is designed for ice conditions and deep wells. See Less
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The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis,…

ABS Opens LNG Academy in Qatar

(Credit: Screenshot/ABS Video)

American Bureau of Shipping (ABS) has inaugurated the ABS Global LNG Academy, a cutting-edge training center dedicated to using the latest techniques to educate mariners in modern liquefied natural gas (LNG) vessel operations.Located in Doha and supported by QatarEnergy…

Exploring 'Future Fuels' - Methanol’s Superstorage Solution

Image courtesy SRC

Technical inquiries to SRC Group ramped up after it received Approval in Principle (AIP) for a concept which ‘reinvented methanol fuel storage’ on board ships. Delivering the answers has seen technical talk converting into project…

Offshore Energy Production & the World Economy

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As the price of gas continues to seemingly hold steady at around three dollars a gallon, the pocketbooks of Americans continue to suffer. Regretfully, due to global conflict and the outbreak of wars across Europe and the Middle East…

Occidental Petroleum Jumps into Acquisition Mode

© Rafael Henrique / Adobe Stock

Occidental Petroleum said on Monday it would buy energy producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding in the lucrative Permian basin.Investors are pressing oil and gas producers to…

Exxon Secures Lead in top US Oilfield with $60B Buy of Shale Rival Pioneer

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Exxon Mobil agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest U.S. oilfield and secure a decade of low-cost production.The deal, valued at $253 a share, combines the largest U.S.

Rystad Says Oil Demand is Peaking. Predicts $60 a Barrel by 2027

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Global crude oil prices could drop to about $60 per barrel by 2027 as demand growth slows, say oil analysts at Rystad Energy, chopping a third off next year's peak price as demand tumbles.Their outlook is a reassuring message…

Exxon in Advanced Talks for $60B Acquisition of Pioneer - Sources

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Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that could value the Permian shale basin producer at about $60 billion, people familiar with the matter said on Thursday. The acquisition would be…

US Energy Firm Payouts to Oil Investors Top Exploration Spending for First Time

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Top U.S. energy companies last year paid out more of their earnings to shareholders than they invested in new oil and gas fields for the first time, according to a report released on Tuesday.The outlook for stronger energy prices…

MODEC’s FPSO Anita Garibaldi MV33 Achieves First Oil in Brazil

Source: MODEC

Japan's MODEC said its FPSO Anita Garibaldi MV33 has achieved first oil production for Petrobras at the Marlim field in the Campos Basin off the coast of Brazil.The FPSO is leased on a 25-year time charter contract to the state…

Siemens Energy Shares Tumble 31% as Wind Turbine Troubles Exposed

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Siemens Energy saw $6.3 billion wiped off its market capitalization on Friday after warning that the impact of quality problems at its Siemens Gamesa wind turbine business would be felt for years.The group scrapped its 2023 profit…

Eni, Vaar Agree to Buy Neptune Energy in $4.9 Billion Deal

Neptune Eneergy's Gjøa platform in Norway Credit: Neptune Energy

Italy's Eni ENI.MI and its Norwegian unit Vaar have agreed to buy private-equity backed Neptune Energy in a deal valuing the assets of the gas and oil producer at $4.9 billion including debt, the two groups said on Friday.The acquisition…

Saudi Arabian Crude Oil Exports Fall 12%

“By agreeing to an additional voluntary production cut within OPEC (Organization of the Petroleum Exporting Countries) of 500,000 barrels per day in May and announcing a further independent production cut of 1,000,000 barrels per day in July…

Cheniere, Equinor ink Long-term LNG Deal

Arctic Voyager leaving Hammerfest LNG.
(Photo: Rino Engdal / Equinor)

Equinor and Cheniere announced a new 15-year purchase agreement of around 1.75 million tons of LNG per year, with half of the volume starting from 2027. This agreement brings the total volumes that Equinor has contracted with…

Chevron to Buy PDC Energy in $7.6 bln Deal

©PDC Energy (File image)

Chevron Corp said on Monday it would acquire PDC Energy Inc in an all-stock transaction for $7.6 billion, including debt, adding new drilling inventory to its U.S. oil and gas reserves.The company has been under pressure on Wall…

Protecting Offshore Energy Sources via USV

Photo courtesy Mr. Dave Meron

When most people discuss energy sources such as fossil fuel and green energy, it is from an “either-or” perspective. Some favor the former while others advocate for the latter. However, what is often lost in the arguments on…

Valero Seeks US Approval to Import Venezuelan Oil

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Valero Energy Corp, the second-largest U.S. oil refiner, is seeking Washington's permission to import Venezuelan crude, according to four people close to the matter, hoping for a repeat of the approval granted to Chevron Corp…

Markets: The Challenges of Developing Floating Wind at Scale

Hywind Scotland, the world.s first floating wind farm, operated by Equinor. (Credit: Signal Film / ©Equinor)

Tens of gigawatts of floating wind projects are slated for development in this and the next decade, but many obstacles remain.There has been much focus on the emerging floating wind market of late.The U.K. is forging ahead with…