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Exxon Banks Record $56B Profit in '22
Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own annual records on high prices and soaring demand…
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Thinking Holistically About Hydrogen’s Place in the Energy Transition
As energy operators across the world come to terms with the continuously changing nature of the energy transition, the need for a wide-lens view of the situation is clear. This includes knowing the capabilities and pitfalls of renewable energy sources at our fingertips, hydrogen being one that is especially prevalent.Kees van Wingerden…
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Thinking Holistically about Hydrogen’s Place in the Energy Transition
As energy operators across the world come to terms with the continuously changing nature of the energy transition, the need for a wide-lens view of the situation is clear. This includes knowing the capabilities and pitfalls of renewable energy sources at our fingertips, hydrogen being one that is especially prevalent.Kees van Wingerden…
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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…
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Petronas Clean Energy Arm Sees India, Australia as Key in Rapid Growth Plans
Gentari, the clean energy arm of Malaysia's state oil firm Petronas, sees India and Australia as its key markets for growth and expects to tap more financing to meet its ambitious targets, its chief executive told Reuters.Petronas launched Gentari as a separate entity in June, aiming…
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Offshore Wind: Floating Wind is the Future
$3 billion forecast to be invested in new anchor handlers to meet floating wind demand.Floating wind is an emerging technology.
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Megaton Project: Denmark's GreenGo to Build 4 GW Green Fuel Plant
Danish renewable energy developer GreenGo Energy said on Tuesday that it's cooperating on 60 billion Danish crowns ($8.77…
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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…
Latest news
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Heavy Lift Ships Start Moving Refinery Upgrading Cargo
The Jumbo-SAL-Alliance (JSA) commenced its scope of work in the Basrah Refinery Upgrading Project for JGC Corporation, when…
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Wave of New LNG Export Plants Threatens to Knock Gas Prices
A flood of liquefied natural gas (LNG) export projects due online worldwide in mid-decade will vie against lower-cost renewable…
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NH3 FPSO Concept: Floating 'Green' Ammonia Production gets DNV AIP
An industrial-scale concept for a floating production unit to produce green ammonia has secured Approval in Principle (AiP) from DNV…
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SLB Launches Cement-free System to Cut CO2 Footprint of Well Construction
Oilfield services giant SLB, until recently known as Schlumberger, on Monday introduced the EcoShield geopolymer cement…
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Enbridge to Buy US Gulf Coast Gas Storage Facility
Canadian pipeline operator Enbridge Inc said on Wednesday it would buy a gas storage facility in the U.S.
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India Coal is Back in Business
India's coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand…
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Blue Hydrogen: A Key Player in the Future of Energy Transition
The energy sector is undergoing a transformation, with a growing focus on cleaner energy sources and technologies that reduce…
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U.S. Natgas Demand, Price Nosedive Continues
U.S. natural gas futures held near a 21-month low on Tuesday, keeping the contract on track for its second-biggest monthly drop in history…
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Nova Innovation Double Size of Offshore Tidal Power Array
Edinburgh-based tidal energy company Nova Innovation has achieved another world-first by doubling the size of its Shetland Tidal Array.
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Planning Starts on Series of 10 Ammonia Fueled Bulk Carriers
WinGD and CMB.TECH announced plans to collaborate on a fleet of ammonia fuelled bulk carriers. The pair signed an agreement…
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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…
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MSC to Jointly Fund Settlment Stemming from 2021 Pipeline Spill
MSC Mediterranean Shipping Company' press office confirmed acceptance of a proposal to jointly fund a settlement with claimants…
Offshore Oil & Gas
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Guyana's Oil Exports Double, with Europe Taking Half of Cargoes
Guyana's oil exports jumped 164% last year, boosted by growing output and demand for the newest Latin American oil producer's light sweet crudes…
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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…
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Britain Produced Record Amount of Wind Power in 2022
Britain’s wind farms contributed a record 26.8% of the country’s electricity in 2022 although gas-fired power plants remained…
Shale Oil & Gas
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Shell Exits Permian with $9.5B Sale to ConocoPhillips. Its U.S. Output Now Mostly Offshore
Royal Dutch Shell said on Monday it would sell its Permian Basin assets to ConocoPhillips for $9.5 billion in cash, an exit from the largest U.S.
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Oil Drillers, Bitcoin Miners Bond over Natural Gas
On U.S. oil patches stretching along the Rockies and Great Plains, trailers hitched to trucks back up toward well pads to…
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BP Profit Triples to $2.6B in Q1 on Strong Oil, Gas Trading
BP's profit more than tripled to $2.6 billion in the first quarter thanks to stronger oil prices and bumper revenue from natural gas trading, paving t
LNG
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Future Fuels: 275 Altenative Fuel Ships Ordered in 2022
The total number of ships with alternative fuels ordered in 2022 was 275 (excluding battery operated vessels), according…
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Svanehøj Inks Deal to Supply Chinese LNG-import Terminal
In February 2023, Svanehøj Tank Control Systems will deliver the tank gauging system for COOEC’s six new LNG tanks for the…
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Greece's Sole LNG Terminal Ramps Up Imports to Replace Russian Gas
Greece has cut Russian gas imports by more than half this year thanks to increased deliveries from other producers to its…
Renewables
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MTR100: For USVs and AUVs, is it a Hydrogen Future?
Hydrogen has been making big headlines in the energy world. It’s one of the potential routes to deliver high density energy…
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Subsea Cable Installed on HiWave-5 Wave Energy Project
CorPower Ocean and Maersk Supply Service report the successful install of a 6.2km subsea export cable off the coast of northern…
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Incoming Shell Boss Aims Fire up Renewables Drive
Shell's incoming Chief Executive Wael Sawan is set to accelerate the group's drive to build its renewable energy business…
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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US Prepares Renewal of Chevron's Venezuela License Without Broader Terms
The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp's license to operate in Venezuela…
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New York City Sues Exxon, BP, Shell Over Climate Change
New York City on Thursday sued three major oil companies and the top industry trade group in state court, arguing that the…
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Biden to Target Drilling, Fossil Fuel Subsidies in New Climate Orders
President Joe Biden was set on Wednesday to sign executive actions to combat climate change, including pausing new oil and…
