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DNV Report Says Maritime Energy Transition is Gaining Speed
More than 1000 ships are expected to be ordered per year through 2030, and with growing pressure on the shipping industry to decarbonize, the shipowners must be careful with fuel selection and ship design, as a misstep here can have damaging consequences in the future.This is according…
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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. oilfield for the energy major shifting its focus to the clean energy transition.For ConocoPhillips, it is the second sizable acquisition in a year in the heart of the U.S.
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Brent Shoots Past $80 a Barrel
Oil markets climbed for a sixth day on Tuesday, boosted by a tighter supply and firm demand outlook, but power shortages in China which hit factory output tempered the rally.Brent crude futures gained 67 cents, or 0.8%, to $80.20 a barrel at 1016 GMT, after reaching their highest level since October 2018 at $80.75. Brent gained 1.8% on Monday.U.S.
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Repsol Increases Low-carbon Targets to Accelerate Energy Transition
Spain's Repsol has hiked its 2030 capacity target for renewable energy generation by 60% and made a new pledge on cutting emissions from its oil and gas business, in the latest attempt by an energy group to limit its role in climate change.Facing pressure from investors, banks and…
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IEA: World Must Triple Renewable Energy Spending by 2030 to Curb Climate Change
Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency (IEA) said on Wednesday."The world is not investing enough to meet its future energy needs ...
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The Path to Zero: Mitsubishi Shipbuilding, TotalEnergies Study LCO2 Carrier
Mitsubishi Shipbuilding has initiated a feasibility study with TotalEnergies for the development of a liquefied CO2 (LCO2) carrier…
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China’s 2021 Crude Oil Imports Down 5.7% - BIMCO
Chinese crude oil imports fell year-on-year in June and July, ending a streak of five months of accumulated year-on-year growth.
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Methane Emission Reduction takes Center Stage of UN GHG Report
In four decades of climate negotiations, the world has focused intensely and exclusively on the most abundant climate-warming gas: carbon dioxide.
Latest news
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KOTUG Starts Ops in Gabon with Perenco Contract
KOTUG International B.V. (KOTUG) won a long-term contract by Perenco Oil & Gas Gabon S.A. (Perenco) to provide towage support…
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IKM Ocean Design wins Contract for Submarine Cable Installation
FiberHome Phils., Inc. has awarded IKM Ocean Design AS a detailed design contract for cable routing, installation and protection…
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Activists Blockade Shell Refinery in Port of Rotterdam
Dozens of Greenpeace activists in Rotterdam port used a ship, buoys and a small flotilla of kayaks on Monday to block traffic…
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LOOP Did Not Deliver Sour Crude from Storage in September
The Louisiana Offshore Oil Port (LOOP), the largest U.S. privately owned deepwater crude terminal, said on Friday it made…
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UK and Norway Sign Deal On New Power Interconnector
Britain and Norway on Thursday signed a bilateral treaty on electricity interconnection to help formalize power trading between the two countries…
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FuelTrax, TOPL Partner on BaaS Platform to enhance Energy Trade Transparency
FuelTrax has partnered with Topl to use Topl’s Blockchain-as-a-Service (BaaS) platform to meet the demand for greater transparency…
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OPEC+ Sees No Need to Meet US Call for More Supply
OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S.
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"Early Bird" Registration for 2021 Maritime Risk Symposium ends soon
The University of Houston’s College of Technology will host the 12th Annual Maritime Risk Symposium (MRS 2021), in collaboration…
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Exxon Suspended from Climate Advocacy Group It Helped Form
Exxon Mobil Corp was suspended from advocacy group Climate Leadership Council (CLC) that looks to make policies to address climate change…
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China's Crude Oil Imports Rebound
China's crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance, though in
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Siemens Gamesa, GRI Renewables Invest in NE England Offshore Wind Production
Siemens Gamesa and GRI Renewables Industries will invest more than $360 million into offshore wind manufacturing facilities…
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Saudi Aramco Q2 Profit Soars Nearly 300% to $25.5B
Saudi Arabian state oil producer Aramco reported a near four-fold rise in second-quarter net profit, beating expectations…
Offshore Oil & Gas
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Nova VOLT gets $2.8m injection from Scottish government
Nova Innovation was awarded a $2.8m cash injection from the Scottish Government to advance its tidal turbine manufacturing…
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15 Bids in To Market Guyana Governent Crude
Guyana received bids from 15 different companies aiming to market the government's share of the crude produced off the South American country's coast…
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World’s Longest [37 km] ETH Production Pipeline installed offshore Norway
Neptune Energy reports the installation and testing of the world’s longest traceheated subsea production pipeline at its…
Shale Oil & Gas
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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
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U.S. Crude Oil Exports: When 'Less is More'
Longer sailing distances cushion fall in US crude oil exportsTon mile demand generated by US crude oil exports has fallen…
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US House Bill Seeks $8 Bln for Abandoned Oil and Gas Well Cleanup
A U.S House of Representatives Democrat introduced a bill on Thursday authorizing $8 billion to plug and clean up abandoned oil wells nationwide…
LNG
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Acteon Inks Deal to Support Philippines LNG Import and Regasification Terminal
Acteon secured an integrated project with Atlantic, Gulf & Pacific Company (AG&P) for the development of a liquefied natural…
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McAllister to Operate ATB for Polaris New Energy LNG Bunkering Ops
McAllister Towing LNG Services, LLC will serve as technical manager for the Polaris New Energy LNG bunkering operation in Florida…
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Lithuania Seeks Alternative Bids for LNG Import Terminal
Lithuania is seeking alternative bids from providers of floating liquefied natural gas (LNG) terminals to potentially replace its existing import term
Renewables
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Future Fuels: Mammoet Moves Massive HSM Offshore Topsides Fueled by HVO
Mammoet reports it has executed its first operation, the transport of two topsides, using low-carbon HVO fuel in Mammoet’s SPMT powerpacks.
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Siemens Energy CEO Buch Calls Wind Division Problems 'Extremely Annoying'
Siemens Energy cranked up the pressure on wind turbine division Siemens Gamesa on Wednesday, saying it was "extremely annoying"…
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Renewables Surged in 2020, but No 'Decisive shift' Towards Climate Goals Yet, BP Says
Wind and solar power capacity expanded rapidly in 2020 while global energy demand cratered because of the pandemic, yet this…
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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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…
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Biden Administration Suspends Federal Oil and Gas Permitting
The Biden administration has temporarily suspended oil and gas leasing and permitting on federal lands and waters while it…
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Biden Announces Return to Global Climate Accord, New Curbs on US Oil Industry
U.S. President Joe Biden on Wednesday announced America's return to the international Paris Agreement to fight climate change…
