Offshore Energy Production & the World Economy
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, oil prices are continuing to climb upwards, troubled by geopolitical conflict and fears of a potential shutdown of international oil and gas fields.Thankfully, the United States has long been blessed with tremendous sources of domestic energy that…
Rapid Charging Systems: Current Technology for the Future of Ferries
As the devotion to more sustainable shipping expands and regulations become more stringent, the demand for lower emissions operations continues to increase. As a result, the marine industry is confronted with the challenge of large-scale electrification as an alternative energy solution.For electric ferries, one developing technology is Rapid Charging Systems (RCS), which transfer electrical power from the shore to a vessel at a high rate.
Protecting Offshore Energy Sources via USV
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 both sides is that regardless of the type of energy being extracted or generated, those platforms that are offshore, especially oil rigs, oil and gas pipelines, and wind farms, are incredibly vulnerable to anyone who wants to attack these sources in wartime…
Valero Seeks US Approval to Import Venezuelan Oil
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 in November after a four-year ban.President Joe Biden's administration has eased some U.S. sanctions on the OPEC-member nation in an effort to encourage a political dialogue with the country's opposition.
Japan to Promote Gas, LNG, Hydrogen During G7 Presidency
Japan will stress the importance of investment in natural gas, liquefied natural gas as well as cleaner fuels such as hydrogen and ammonia during its presidency of the G7 this year, a source said, but would keep it clean to meet 2050 carbon neutral goal.Japan, president of the rich-country grouping for 2023, will hold a ministerial meeting on climate, energy and environment in the city of Sapporo on April 15-16, ahead of…
Finance: Investors Become Super-Bullish on Oil
Portfolio investors have piled into petroleum futures and options at the fastest rate since the first successful coronavirus vaccines were announced in late 2020.China’s exit from a zero-COVID strategy, along with hopes the global economy can avoid a recession and low oil inventories, have contributed to an extraordinary wave of buying across the petroleum complex.Hedge funds and other money managers purchased the equivalent…
Saudi Arabia Remains China's Top Crude Supplier
Russia remained China's second-largest source of crude oil in 2022, following repeat top supplier Saudi Arabia, as Chinese refiners snapped up low-cost Russian barrels while Western countries shunned them after the Ukraine crisis.China's crude oil imports from Russia jumped 8% in 2022 from a year earlier to 86.25 million tonnes, equivalent to 1.72 million barrels per day (bpd), data from the General Administration of Customs…
MAN ES: Moving Forward on Ammonia Engines
As shipowners ponder future fuels, MAN Energy Solutions is sailing full speed ahead optimizing dual fuel marine powerplants while preparing to start testing ammonia fueled engines in early 2023. Bjarne Foldager, Senior Vice President, head of two stroke business at MAN ES hosted Maritime Reporter & Engineering News in Copenhagen for a look behind the scenes at a cornerstone of its mandate to ‘Move big things to Zero.’Just 10 years ago…
Iranian Oil Exports End 2022 at a High, Despite No Nuclear Deal
Iranian oil exports hit new highs in the last two months of 2022 and are making a strong start to 2023 despite U.S. sanctions, according to companies that track the flows, on higher shipments to China and Venezuela.Tehran's oil exports have been limited since former U.S. President Donald Trump in 2018 exited a 2015 nuclear accord and reimposed sanctions aimed at curbing oil exports and the associated revenue to Iran's government.Exports have risen during the term of his successor President Joe Biden…
The Top 10 Offshore Wind Energy Trends to Watch in 2023
The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds. As we prepare for the new year, let us look at ten factors that will shape the offshore wind sector in 2023.1. Solid foundations: Optimism for the supply chain is founded…
Stepping on the Gas: Rochester Researchers Team to tackle Methane Emissions
With global temperatures rising, oceans warming and ice caps melting, carbon dioxide attracts the bulk of the blame throughout media, public discourse and academia. All too many—save some scientists and researchers—neglect methane, the second biggest greenhouse gas that’s influenced by human activity. Often associated with livestock production and ruminant flatulence, methane has both natural and anthropogenic sources and…
Has Green Hydrogen Sprung a Leak?
The green hydrogen express is gathering pace, but it may have a worrying problem with leaks.As governments and energy companies line up big bets on the much-touted fuel of the future, some scientists say the lack of data on leaks and the potential harm they could cause is a blind spot for the nascent industry.At least four studies published this year say hydrogen loses its environmental edge when it seeps into the atmosphere.
Legal Beat: Jones Act Moon Shot
What does the Jones Act have to do with the moon, you ask? Well, we must go to ground on the Jones Act to answer the question.The “Jones Act” we are talking about is the section in the Merchant Marine Act, 1920 which revised the pre-existing reservation of U.S. domestic maritime commerce to qualified U.S.-flag vessels. “Pre-existing” is the right term because the U.S. Government advantaged U.S.-owned vessels in the domestic trade first with a differential duty in 1789 and then with an outright reservation in 1817.
US Looking to Increase Gas Products Into Europe Amid Russia Cuts
The United States will keep looking for ways to increase gas products going into Europe in the face of Russian energy cuts after its invasion of Ukraine, the White House said on Wednesday."President Putin again is weaponizing energy," White House national security spokesman John Kirby said at a news briefing.(Reuters - Reporting by Jeff Mason and Doina Chiacu;)
Britain to Receive Rare LNG Cargo from Australia
Britain is set to receive a rare shipment of liquefied natural gas (LNG) from Australia later this month, as countries across Europe strive to secure enough supplies ahead of winter.European nations are seeking to diversify energy supplies following Russia's invasion of Ukraine and a sharp drop in Russian gas flows to the continent.LNG tanker Attalos, with a capacity of 174,000 cubic meters, is set to arrive at Britain's Isle of Grain terminal on Aug.
Price is the Elephant in Australia's LNG, Domestic Gas Conundrum
Australia's threat to curb exports of liquefied natural gas (LNG) in order to ensure domestic supplies is another unwelcome pressure on a tight global market for the super-chilled fuel.But it's not an immediate threat, and it may also not materialize at all, depending on how the various players in Australia react to the government's planned action.What needs to be addressed effectively is the elephant in the room, namely the price at which natural gas is made available to domestic consumers relative to the price the gas comp
U.S. LNG Exports to Europe on Track to Surpass Biden Promise
When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with skepticism.After all, the U.S. LNG industry was already hitting its export limits and the global market is dominated by long-term contracts that can dictate where exported gas would go for 20years at a time.It turns out…
US Becomes Top LNG Exporter in First Half of 2022 -EIA
The United States became the top liquefied natural gas (LNG) exporter in the first half of 2022, the Energy Information Administration (EIA) said, citing data from CEDIGAZ, as the country increased supply to Europe amid the Ukraine crisis.U.S. LNG exports rose 12% to average 11.2 billion cubic feet per day (bcfd) in the first half of the year compared with the second half of 2021, the EIA said. Increased LNG export capacity…
U.S. Oil Mergers Drop to $12 Billion as Volatility Limits Deals
U.S. oil and gas dealmaking fell to $12 billion last quarter, down from the first quarter and nearly a third of the $34.8 billion in the same period a year ago, as commodity price volatility left buyers and sellers clashing over asset values, according to data released by energy analytics firm Enverus on Thursday."The spike in commodity prices that followed Russia’s invasion of Ukraine temporarily stalled M&A as buyers and sellers disagreed on the value of assets…
Cheniere Asks Biden Admin to Drop Pollution Rule
Cheniere Energy Inc has asked the Biden administration to exempt it from limits on emissions of cancer-causing pollutants, arguing they would force the top U.S. exporter of liquefied natural gas to shut for an extended period and endanger the country's efforts to ramp up supplies to Europe, according to documents reviewed by Reuters.The request imposes an uncomfortable dilemma on President Joe Biden’s administration as it…
