Category: Energy Transition
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WATCH: McDermott and BW Offshore lift the curtain on floating blue ammonia FPSO model
WATCH: McDermott and BW Offshore lift the curtain on floating blue ammonia FPSO model McDermott and BW Offshore have unveiled a concept for a blue ammonia floating production, storage, and offloading (FPSO) unit that blends offshore production, carbon capture, and direct export, spotlighting the way in which surplus natural gas could be converted into a lower-carbon…
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Exclusive interview with Eni: Gas and LNG at crux of multiple FIDs as ‘game-changing phase’ edges closer
Exclusive interview with Eni: Gas and LNG at crux of multiple FIDs as ‘game-changing phase’ edges closer With a diversified pipeline of projects spanning Africa, Asia-Pacific, the Americas, and the East Mediterranean, Italy’s energy giant Eni is set on pursuing a disciplined exploration strategy focused on rapid monetization and a pragmatic, technology-driven approach to emission…
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Trio paving the way for hydrogen adoption in FPSO and maritime power sphere
Trio paving the way for hydrogen adoption in FPSO and maritime power sphere Three players, Japan’s MODEC, Norway’s Eld Energy, and Delta Electronics, have joined forces to expand hydrogen use in the maritime sector, driving energy transition by deploying solid oxide fuel cell (SOFC) technology for the first time on a floating production, storage and…
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Exclusive interview with SBM Offshore: South America anchors business growth, as West Africa emerges on FPSO horizon
Exclusive interview with SBM Offshore: South America anchors business growth, as West Africa emerges on FPSO horizon SBM Offshore is keeping Brazil and Guyana as the core hub of its FPSO activity, while eyeing new opportunities in West Africa. The post Exclusive interview with SBM Offshore: South America anchors business growth, as West Africa emerges…
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Exclusive interview: Velesto sets its sights on Malaysia and Southeast Asia gas drilling plays
Exclusive interview: Velesto sets its sights on Malaysia and Southeast Asia gas drilling plays As global energy security concerns keep the demand for oil and gas alive, Malaysia’s Velesto Energy, owner of premium jack-up rigs and hydraulic work-over units, has dived into its expectations for 2026, highlighting its belief that the jack-up rig market will…
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Energy outlook: 12 trends set to shape 2026 power spectrum
Energy outlook: 12 trends set to shape 2026 power spectrum With market volatility, geopolitics, and policy repercussions expected to be among the key drivers affecting the global energy landscape, Rystad Energy, an energy market intelligence group, has outlined 12 predictions for the year ahead, noting opportunities and challenges that will unfold alongside increasing complexity, including…
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Global energy transition drags its feet as oil & gas reign over energy mix
Global energy transition drags its feet as oil & gas reign over energy mix Against the backdrop of rising greenhouse gas (GHG) emissions, energy security and financial prudence are running the investment policy show, putting the transition to low-carbon and green sources of supply on the back burner, as fossil fuels dominate the energy mix,…
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North Sea green shift at play: Dutch gas platform plugs into German offshore wind power
North Sea green shift at play: Dutch gas platform plugs into German offshore wind power The Netherlands-based exploration and production player ONE-Dyas, together with its partners EBN and Tenaz Energy, has tucked a new decarbonization milestone under its belt by breathing life into the first natural gas production platform in the Dutch and German sectors…
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Round-up: New oil & gas discoveries take center stage as LNG momentum grows
Round-up: New oil & gas discoveries take center stage as LNG momentum grows As the offshore energy sector sees advancements in exploration, infrastructure expansion, LNG diversification, and carbon management initiatives, new discoveries in Norway reinforce the ongoing oil and gas dominance. International players, such as Shell, Equinor, Chevron, and Petrobras are reshaping portfolios through joint…
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Denmark pushes back bid submission deadline for piece of $4.59 billion carbon capture and storage pie
Denmark pushes back bid submission deadline for piece of $4.59 billion carbon capture and storage pie The Danish Energy Agency has postponed the deadline for its carbon capture and storage (CCS) tendering procedure, which enables interested companies to get a slice of the DKK 28.7 billion ($4.59 billion) funding cake earmarked to lend Denmark a…
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EU endorses 235 cross-border energy projects to scale up electricity, hydrogen, and CO2 infrastructure
EU endorses 235 cross-border energy projects to scale up electricity, hydrogen, and CO2 infrastructure As investment needs are anticipated to hover around €1.5 trillion by 2040, the European Commission (EC) has adopted a new list of 235 cross-border energy projects, granting them the status of projects of common interest (PCIs) and projects of mutual interest…
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Trio pools resources to forge CO2 logistics hub for carbon dioxide transport chain
Trio pools resources to forge CO2 logistics hub for carbon dioxide transport chain Three players in the offshore energy and maritime spheres – Höegh Evi, Aker BP, and Ports of Stockholm – have joined forces to bring to life a CO2 logistics hub and enable an efficient and sustainable transport chain for carbon dioxide from industrial…
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IMO picks Council members but Net Zero Framework hiatus raises red flag for potential fragmentation of shipping decarbonization
IMO picks Council members but Net Zero Framework hiatus raises red flag for potential fragmentation of shipping decarbonization The Assembly of the International Maritime Organization (IMO), a specialized agency of the United Nations responsible for regulating and improving international shipping, has elected Member States to serve on three categories of the IMO Council. Meanwhile, EmissionLink’s Managing Director…
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Fourfold boost in store for UK’s wind-powered gas and hydrogen storage project with license submission
Fourfold boost in store for UK’s wind-powered gas and hydrogen storage project with license submission England-based energy transition-focused player EnergyPathways has handed in an application for an enlarged gas storage license, covering the natural gas and hydrogen storage elements of its flagship project, located off the Cumbria coast in the East Irish Sea. The post Fourfold…
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EU moves to scale up production of sustainable maritime fuels as global race heats up
EU moves to scale up production of sustainable maritime fuels as global race heats up The European Commission has adopted the Sustainable Transport Investment Plan (STIP) which sets out a common approach to boost investments in renewable and low-carbon fuels focusing on waterborne and aviation transport. The post EU moves to scale up production of sustainable maritime fuels…
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Ports of Duisburg and Rotterdam strengthen green corridors partnership
Ports of Duisburg and Rotterdam strengthen green corridors partnership German Port of Duisburg and Dutch Port of Rotterdam have signed a letter of intent (LoI) to reinforce their goal of jointly developing sustainable transport corridors via waterways as well as future-oriented initiatives for the energy transition. The post Ports of Duisburg and Rotterdam strengthen green…
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TotalEnergies spotlights €20B poured into low-carbon progress since 2020 amid legal scrutiny
TotalEnergies spotlights €20B poured into low-carbon progress since 2020 amid legal scrutiny In the aftermath of a court decision related to its carbon neutrality ambition, France’s energy giant TotalEnergies has shed light on its multi-energy strategy investments, highlighting its low-carbon inroads backed by a €20 billion injection over the past five years. The post TotalEnergies…
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Floating regas solution gains ground: ECOnnect scores double pre-FEED win on LNG import projects
Floating regas solution gains ground: ECOnnect scores double pre-FEED win on LNG import projects Norway’s technology company ECOnnect Energy has picked up two preliminary front-end engineering design (pre-FEED) deals for its modular regasification (regas) solution, said to be designed for faster delivery and be more cost-efficient than traditional floating storage and regasification units (FSRUs or new…
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India recognizes three major ports as green hydrogen hubs
India recognizes three major ports as green hydrogen hubs India’s Ministry of New and Renewable Energy (MNRE) has formally recognized three major ports as green hydrogen hubs under the National Green Hydrogen Mission (NGHM). The post India recognizes three major ports as green hydrogen hubs appeared first on Offshore Energy. Naida Hakirevic Prevljak Go to…
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50% oil & gas North Sea boost on the UK’s table with cost savings and net zero within reach
50% oil & gas North Sea boost on the UK’s table with cost savings and net zero within reach With the United Kingdom’s government currently at a crossroads as it faces a critical decision over banning new North Sea exploration licenses or embracing a so-called science-backed approach that curbs emissions, Wood Mackenzie, an energy intelligence…
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Hy2gen gets zoning approval for renewable ammonia plant in Norway
Hy2gen gets zoning approval for renewable ammonia plant in Norway Hy2gen Nordic has been granted zoning approval for the Iverson renewable ammonia plant at the Birkeland industrial site by the municipal council of Sauda, Norway. The post Hy2gen gets zoning approval for renewable ammonia plant in Norway appeared first on Offshore Energy. Aida Čučuk Go…
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DNV: The stage is set for next phase of maritime energy transition
DNV: The stage is set for next phase of maritime energy transition Shipping’s energy transition is entering a new phase—one defined by strategic investment, accelerating fleet readiness, and emerging regulatory developments. This has been highlighted in the new edition of DNV’s Maritime Forecast to 2050. The post DNV: The stage is set for next phase…
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BP confirms multimillion-dollar deals for gas field expansion and terminal electrification
BP confirms multimillion-dollar deals for gas field expansion and terminal electrification BP has corroborated the award of engineering and procurement support assignments to the SOCAR-KBR joint venture (JV), entailing KBR, a U.S.-headquartered science, technology, and engineering player, and Azerbaijan’s SOCAR. The post BP confirms multimillion-dollar deals for gas field expansion and terminal electrification appeared first on…
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New decarbonization milestone for Asian player as oil & gas assets benefit from solar panels
New decarbonization milestone for Asian player as oil & gas assets benefit from solar panels PT Medco Energi Internasional (MedcoEnergi), an Indonesian-based energy and natural resources company, has achieved a significant sustainability milestone, slashing its Scope 1 and 2 greenhouse gas (GHG) emissions by up to 1.5 million tons of CO2 equivalent (CO2e), compared to…
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EU at energy crossroads: €700 billion to triple US oil, gas, and nuclear imports puts Europe’s decarbonization at risk
EU at energy crossroads: €700 billion to triple US oil, gas, and nuclear imports puts Europe’s decarbonization at risk The European Environmental Bureau (EEB), said to be Europe’s largest network of environmental non-government organizations (NGOs), has portrayed the new trade deal between the European Union (EU) and the United States (U.S.) in a different light…
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Full steam ahead for South African maritime decarbonization
Full steam ahead for South African maritime decarbonization South Africa is determined to decarbonize its maritime industry and has outlined plans to implement key International Maritime Organization (IMO) regulations on shipping emissions and establish a national task force and action plan to drive the effort. The post Full steam ahead for South African maritime decarbonization…
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Interview on America’s tax overhaul: Investment ‘catalyst’ across energy spheres but deadlines spell potential trouble for wind & solar
Interview on America’s tax overhaul: Investment ‘catalyst’ across energy spheres but deadlines spell potential trouble for wind & solar The latest action the United States (U.S.) has taken to unlock its energy dominance, encapsulated in a new tax reconciliation bill, which President Donald J. Trump signed into law, has set the stage for an uptick…
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Satellite down for the count but fight against methane in oil & gas realm will go on
Satellite down for the count but fight against methane in oil & gas realm will go on MethaneSAT has lost contact with a satellite developed to shed light on methane emissions that other tools cannot detect, with a focus on oil and gas operators as the largest industrial source of the methane menace. The post…
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European Commission kick-starts work on EU ports and industrial maritime strategies
European Commission kick-starts work on EU ports and industrial maritime strategies In a long-awaited move, the European Commission has started preparations for an EU Ports Strategy and EU Industrial Maritime Strategy and is inviting stakeholders to participate in the process. The post European Commission kick-starts work on EU ports and industrial maritime strategies appeared first…
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Saudi 2030 Vision in the making: SGP wins 20-year concession for four multipurpose terminals
Saudi 2030 Vision in the making: SGP wins 20-year concession for four multipurpose terminals Saudi Global Ports Group (SGP) has been awarded four 20-year concession agreements by the Saudi Ports Authority (Mawani) to operate multipurpose terminals along the Eastern Coast of Saudi Arabia. The post Saudi 2030 Vision in the making: SGP wins 20-year concession…
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India to get its ‘first’ independent ammonia storage terminal by 2026
India to get its ‘first’ independent ammonia storage terminal by 2026 AVTL, a joint venture between Aegis Logistics Limited and Vopak India, has announced plans […] The post India to get its ‘first’ independent ammonia storage terminal by 2026 appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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UK’s new guidance sheds light on North Sea oil & gas game as application window opens
UK’s new guidance sheds light on North Sea oil & gas game as application window opens In the wake of a Supreme Court ruling, marking the first inclusion in Britain’s history of greenhouse gas (GHG) emissions from the combustion of oil and gas in environmental impact assessments (EIAs) for hydrocarbon extraction projects, the United Kingdom…
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Op-ed: Shipping’s new net zero framework: Where to next?
Op-ed: Shipping’s new net zero framework: Where to next? Real momentum is building behind the global shipping industry’s transition towards a zero-emission future. The post Op-ed: Shipping’s new net zero framework: Where to next? appeared first on Offshore Energy. Offshore-Energy.biz Go to offshore energy biz
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Interview: High-growth regions, subsea, and FPSO jobs unlocking EnerMech’s resilience in energy realms
Interview: High-growth regions, subsea, and FPSO jobs unlocking EnerMech’s resilience in energy realms EnerMech, an Aberdeen-headquartered integrated solutions specialist, has pinpointed the focus on high-growth regions, subsea work, and floating production, storage, and offloading (FPSO) assignments as its tripartite resilience formula, which it uses as keys to achieving resilience against the backdrop of ongoing economic…
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‘Largest’ drone quest puts emission monitoring into gear across 33 North Sea oil & gas assets
‘Largest’ drone quest puts emission monitoring into gear across 33 North Sea oil & gas assets Two players, Cyberhawk and Explicit, have started the ball rolling on an offshore drone campaign for emissions measurement in the Norwegian sector of the North Sea, which is being undertaken on 33 offshore platforms operated by Equinor, Norway’s energy…
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Oil & gas price uptick and vessel rerouting as Israel-Iran conflict keeps markets on edge
Oil & gas price uptick and vessel rerouting as Israel-Iran conflict keeps markets on edge A spike in crude oil prices and tweaks to ships’ regular routes are some of the key indicators of uncertainty enveloping energy and shipping markets in the wake of Israel’s attack on Iran, as both countries turn off their giant…
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UK throws support behind carbon capture and storage pair set to unlock $34 billion by 2035
UK throws support behind carbon capture and storage pair set to unlock $34 billion by 2035 Offshore Energies UK (OEUK), has deemed the UK’s backing of carbon capture, usage, and storage (CCUS) projects as an important step for the domestic offshore energy industry, as the country works to bankroll its transition from oil and gas…
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Aquaterra scoops up two jobs on Britain’s first permitted offshore carbon storage project
Aquaterra scoops up two jobs on Britain’s first permitted offshore carbon storage project Aquaterra Energy, a UK-headquartered offshore energy engineering solutions provider, has picked up a new set of assignments with Northern Endurance Partnership (NEP) – encompassing BP, Equinor, and TotalEnergies – for work on the first offshore carbon capture and storage (CCS) project to receive…
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BP green-lights batch of energy projects: Next chapter of mega gas field is a go
BP green-lights batch of energy projects: Next chapter of mega gas field is a go BP has revealed final investment decisions for multiple projects, including the next phase of development for a giant natural gas field in the Caspian Sea, described as one of the world’s largest gas-condensate fields and the company’s largest gas discovery.…
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Drop in UK oil & gas players’ profits prompts calls for tax changes to amplify investments
Drop in UK oil & gas players’ profits prompts calls for tax changes to amplify investments Offshore Energies UK (OEUK), has urged the government to take action on the energy profits levy (EPL), known as the windfall tax on oil and gas profits, by next year to put all ingredients in place to secure jobs, energy…
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Moeve and Armas Trasmediterránea strike marine biofuel supply deal
Moeve and Armas Trasmediterránea strike marine biofuel supply deal Spanish energy major Moeve, formerly Cepsa, has reached a strategic agreement with compatriot shipping company Armas Trasmediterránea to supply second-generation (2G) marine biofuels in the Canary Islands. The post Moeve and Armas Trasmediterránea strike marine biofuel supply deal appeared first on Offshore Energy. Aida Čučuk Go…
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Japan consortium to seek ‘deeper’ pathways toward a carbon-neutral future
Japan consortium to seek ‘deeper’ pathways toward a carbon-neutral future A consortium consisting of seventeen Japanese organizations has jointly launched a social collaboration program […] The post Japan consortium to seek ‘deeper’ pathways toward a carbon-neutral future appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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Exclusive interview: Balancing act between energy security and decarbonization unlocking oil & gas resilience
Exclusive interview: Balancing act between energy security and decarbonization unlocking oil & gas resilience Sulzer has pointed out the operators’ need to pursue decarbonization tools to ensure cleaner production and more efficient operations, maximizing productivity and enhancing sustainability to tackle the climate change ticking time bomb and come to grips with energy security challenges. The…
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Noble tucks CCS rig tech milestone under its belt
Noble tucks CCS rig tech milestone under its belt U.S.-headquartered offshore drilling giant Noble Corporation has confirmed the receipt of a certificate related to carbon capture and storage (CCS) rig technology from DNV, an energy expert and assurance provider. The post Noble tucks CCS rig tech milestone under its belt appeared first on Offshore Energy.…
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SBM Offshore’s NearZero FPSO design gets ABS’ blessing
SBM Offshore’s NearZero FPSO design gets ABS’ blessing SBM Offshore, a provider of the design, construction, installation, and operation of offshore floating facilities, has received a stamp of approval for its NearZero floating production storage and offloading (FPSO) design from the American Bureau of Shipping (ABS), a classification society. The post SBM Offshore’s NearZero FPSO design…
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Oil, gas, and LNG weaving energy security web
Oil, gas, and LNG weaving energy security web The winds of change are still gathering speed as they blow across the global energy industry, but they have not managed to dislodge oil and natural gas from their top spots in the energy mix. These fossil fuels, alongside LNG, are still keeping their finger on the…
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‘World’s first net-zero LNG export facility’ shaping up in Canada as $5.1B project forges ahead
‘World’s first net-zero LNG export facility’ shaping up in Canada as $5.1B project forges ahead Woodfibre Management, a privately held Canadian company based in Vancouver, is moving forward with the construction works at its operated multimillion-dollar liquefied natural gas (LNG) export project located along the southwest coast of British Columbia, Canada. The post ‘World’s first…
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Canada throws its weight behind $4 billion hydro-powered floating LNG project
Canada throws its weight behind $4 billion hydro-powered floating LNG project The Canadian government has handpicked Cedar LNG, a partnership between the Haisla Nation and Canadian energy infrastructure player Pembina Pipeline Corporation, to be on the receiving end of millions in support for a floating liquefied natural gas (LNG) (FLNG) facility. The post Canada throws…
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Second Stena Drilling rig sports DNV’s drillship notation for emissions abatement
Second Stena Drilling rig sports DNV’s drillship notation for emissions abatement Stena Drilling has welcomed the award of an Abate (P) notation, which DNV has now bestowed upon another one of its drillships following the rig owner’s addition of multiple technical and operational measures for the rig to cut its fuel consumption and greenhouse gas…
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Financial headwinds may hinder e-fuels production in developing countries, making equitable transition unattainable
Financial headwinds may hinder e-fuels production in developing countries, making equitable transition unattainable Poor access to funding and higher costs of capital in developing countries could almost double the prices of e-fuels they produce, compared to developed economies—even when renewable energy resources such as onshore wind and solar are superior, according to a new study.…
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‘Pragmatic’ offshore energy investment policy key to ensure UK’s supply chain stays put
‘Pragmatic’ offshore energy investment policy key to ensure UK’s supply chain stays put With research showing that nine out of ten companies perceive business playgrounds in other countries as better suited for investment and growth, Britain’s trade body for the offshore energy industry, Offshore Energies UK (OEUK), has warned the UK government about the looming uncertainty…
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With 22,318 ships, Europe controls 35% of the world fleet
With 22,318 ships, Europe controls 35% of the world fleet European shipping, representing 35% of global feet, is key for Europe’s security, two separate studies have found. The post With 22,318 ships, Europe controls 35% of the world fleet appeared first on Offshore Energy. Naida Hakirevic Prevljak Go to offshore energy biz
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Vopak marks ‘inaugural’ biofuel bunkering operation in the UAE as done
Vopak marks ‘inaugural’ biofuel bunkering operation in the UAE as done Vopak Horizon Fujairah Limited, a UAE-based subsidiary of Dutch energy storage operator Vopak, recently […] The post Vopak marks ‘inaugural’ biofuel bunkering operation in the UAE as done appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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Methanol-ready subsea vessel pair with battery hybrid tech lands on Kongsberg’s worksheet
Methanol-ready subsea vessel pair with battery hybrid tech lands on Kongsberg’s worksheet Kongsberg Maritime has won a new design and equipment assignment for two multipurpose subsea vessels envisioned to be methanol-ready dual-fuel ships, sporting battery hybrid technology, which are set to be built for multiple purposes and optimized for advanced offshore operations under rough conditions.…
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Ports of Rotterdam and Antwerp-Bruges call for rapid Clean Industrial Deal implementation
Ports of Rotterdam and Antwerp-Bruges call for rapid Clean Industrial Deal implementation The Dutch Port of Rotterdam and Belgian Port of Antwerp-Bruges have welcomed the Clean Industrial Deal, through which the European Commission intends to strengthen the competitiveness of European industry, emphasizing that now is the time to concretize the announced measures. The post Ports…
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All eyes on EU as it presents Clean Industrial Deal to future-proof energy sector
All eyes on EU as it presents Clean Industrial Deal to future-proof energy sector The European Union has unveiled the Clean Industrial Deal, a transformational business plan outlining […] The post All eyes on EU as it presents Clean Industrial Deal to future-proof energy sector appeared first on Offshore Energy. Naida Hakirevic Prevljak Go to…
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MMMCZCS: Ammonia’s rise in shipping demands major workforce overhaul
MMMCZCS: Ammonia’s rise in shipping demands major workforce overhaul The maritime industry is facing a ‘significant’ workforce challenge as ammonia’s momentum as a […] The post MMMCZCS: Ammonia’s rise in shipping demands major workforce overhaul appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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SBM Offshore gets carbon capture modular solution study for FPSOs on Petrobras’ oil & gas assets
SBM Offshore gets carbon capture modular solution study for FPSOs on Petrobras’ oil & gas assets SBM Offshore, a provider of the design, construction, installation, and operation of offshore floating facilities, has been tasked with a study encapsulating the design and the commercial evaluation of various carbon capture systems’ configurations to be installed on future floating…
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EnEarth secures millions in EU funding for Prinos CO2 project
EnEarth secures millions in EU funding for Prinos CO2 project The European Commission has earmarked a €~120 million CEF grant to support the development of a liquified CO2 receiving terminal at Prinos Carbon Storage located in the north of Greece. The post EnEarth secures millions in EU funding for Prinos CO2 project appeared first on…
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Nigerian offshore fields reach new decarbonization heights with 96% cut in routine gas flaring
Nigerian offshore fields reach new decarbonization heights with 96% cut in routine gas flaring The Nigerian National Petroleum Company (NNPC) has tucked a new milestone in the reduction of routine flaring of associated gas (AG) from two shallow-water oil and gas fields located off the coast of Nigeria. The post Nigerian offshore fields reach new…
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Exclusive interview: Velesto going after three Ds – Digitalization, decarbonization, and diversification for enhanced drilling and oil & gas era
Exclusive interview: Velesto going after three Ds – Digitalization, decarbonization, and diversification for enhanced drilling and oil & gas era Technological advancement, supportive policy regulations, and integration of greener and cleaner power innovations are a bedrock of an equitable energy transition age for Malaysia’s Velesto Energy, which has set its cap on growth and expansion…
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Multi-billion projects at stake: Another blow for UK’s largest untapped oil & gas duo but Shell, Equinor, and Ithaca remain upbeat
Multi-billion projects at stake: Another blow for UK’s largest untapped oil & gas duo but Shell, Equinor, and Ithaca remain upbeat Which side will come on top is not yet clear, but it is unlikely that either will throw in the towel at this late stage in the UK’s oil and gas saga without a…
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UCL: Can GHG levy and e-fuel subsidy drive zero-emission shipping forward?
UCL: Can GHG levy and e-fuel subsidy drive zero-emission shipping forward? A high greenhouse gas (GHG) price coupled with targeted subsidies for e-fuels have shown […] The post UCL: Can GHG levy and e-fuel subsidy drive zero-emission shipping forward? appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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$1.3 trillion windfall coming up on America’s GDP horizon with LNG bonanza
$1.3 trillion windfall coming up on America’s GDP horizon with LNG bonanza With 14 multibillion-dollar projects lined up on the LNG export menu, America seems poised to reach the $1.3 trillion gross domestic product (GDP) promise spotlighted in a recent S&P Global study, making a strong case for an LNG boom. The post $1.3 trillion…
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Workforce cuts on the rise: Oil & gas giants’ cost-saving quests fuel layoffs’ wave
Workforce cuts on the rise: Oil & gas giants’ cost-saving quests fuel layoffs’ wave Price volatility, rise in costs, climate change, energy transition agendas, rising power demand, and emerging technologies and innovations, including market evolution, automation, and progress in unleashing the benefits of artificial intelligence (AI), have also played their part in shrinking the job…
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CNOOC earmarks up to $19 billion for oil & gas, offshore wind, solar, and AI-integrated plays
CNOOC earmarks up to $19 billion for oil & gas, offshore wind, solar, and AI-integrated plays China’s CNOOC has set out its multibillion-dollar business strategy and development plan for 2025. The post CNOOC earmarks up to $19 billion for oil & gas, offshore wind, solar, and AI-integrated plays appeared first on Offshore Energy. Melisa Cavcic…
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Trump makes good on all his energy promises: ‘Golden’ US oil, gas, & LNG age and offshore wind pause in effect
Trump makes good on all his energy promises: ‘Golden’ US oil, gas, & LNG age and offshore wind pause in effect Will Trump’s upcoming oil and gas era be a setback, holding back U.S. renewables’ progress, or a shot in the arm galvanizing greener zest? The post Trump makes good on all his energy promises:…
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Norwegian oil & gas electrification story takes another step forward with multimillion-dollar deal
Norwegian oil & gas electrification story takes another step forward with multimillion-dollar deal Equinor has made a move to progress its offshore oil and gas electrification plans on the Norwegian Continental Shelf (NCS) by handing out a contract for early stage engineering services to Multiconsult Norge, in collaboration with subcontractors Aker Solutions and fully owned…
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SBM Offshore on FPSO landscape: Oil & gas demand unlocking financing with CCS poised for ‘biggest impact’ in emission cuts
SBM Offshore on FPSO landscape: Oil & gas demand unlocking financing with CCS poised for ‘biggest impact’ in emission cuts With a backlog of $33 billion and sustainability at the heart of its strategy to future-proof its floating production units, SBM Offshore is expecting to see a new batch of 40 floating production, storage, and…
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Biden’s US offshore oil & gas drilling ban throws a spanner in the works but ‘drill, baby, drill’ still on Trump’s energy agenda
Biden’s US offshore oil & gas drilling ban throws a spanner in the works but ‘drill, baby, drill’ still on Trump’s energy agenda President Joe Biden’s legacy has now added an offshore drilling ban, spanning over 625 million acres of the U.S. ocean, to the mix. The post Biden’s US offshore oil & gas drilling…
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Energy outlook: Uncertainty and ‘resilient’ oil & gas to run the energy show in 2025
Energy outlook: Uncertainty and ‘resilient’ oil & gas to run the energy show in 2025 The world at large still runs on coal, oil, and gas, with the lion’s share of the energy mix controlled by these fuels. The post Energy outlook: Uncertainty and ‘resilient’ oil & gas to run the energy show in 2025…
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WoodMac: low-carbon power central to energy transition, but replacing oil & gas will be a ‘gargantuan’ task
WoodMac: low-carbon power central to energy transition, but replacing oil & gas will be a ‘gargantuan’ task Energy intelligence group Wood Mackenzie has published a report listing several key trends shaping the future of the energy sector, including three that are relevant to the offshore industry – the fast pace of China’s energy transition, a…
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New York fires $75 billion shot for Big Oil to foot the landmark climate ‘superfund’ bill
New York fires $75 billion shot for Big Oil to foot the landmark climate ‘superfund’ bill As the climate crisis continues to wreak havoc across the globe, New York has taken decisive action to hold fossil fuel players accountable for their pollution effects by establishing a new climate fund, described as landmark legislation to strengthen…
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Gazprom greenlights $15 billion investment plan to bolster gas production capacity
Gazprom greenlights $15 billion investment plan to bolster gas production capacity Russia’s giant Gazprom has set its investment program and budget for next year at RUB 1.52 trillion (almost $15.22 billion), a drop of about 7% compared with the planned spending of RUB 1.64 trillion (nearly $16.43 billion) for 2024. The post Gazprom greenlights $15…
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ExxonMobil’s 2030 agenda: Fueling decarbonization with $30 billion while ramping up oil & gas and LNG output
ExxonMobil’s 2030 agenda: Fueling decarbonization with $30 billion while ramping up oil & gas and LNG output ExxonMobil has unveiled its new corporate plan up to 2030, expecting to deliver a growth potential of $20 billion in earnings and $30 billion in cash flow. The post ExxonMobil’s 2030 agenda: Fueling decarbonization with $30 billion while…
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US LNG export projects on hold until environmental reviews are out of the way
US LNG export projects on hold until environmental reviews are out of the way As the Department of Energy (DOE) has confirmed the environmental reviews will need to be completed with all agencies before pending projects can get back on track, the pause appears to still be in effect, even though a preliminary injunction from…
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US-Qatar oil & gas ties are ‘win-win’ but EU’s green agenda bound to cause exodus, QatarEnergy’s CEO warns
US-Qatar oil & gas ties are ‘win-win’ but EU’s green agenda bound to cause exodus, QatarEnergy’s CEO warns QatarEnergy’s CEO has pinpointed the potential detriments the EU’s new sustainability rules may bring, including energy security woes for the top global liquefied natural gas (LNG) import market, given the high penalties gas and LNG importing club…
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Nordic Roadmap: Immediate government action needed to close fuel transition cost gap
Nordic Roadmap: Immediate government action needed to close fuel transition cost gap The Nordic Roadmap project has unpacked the Fuel Transition Roadmap for Nordic Shipping, a […] The post Nordic Roadmap: Immediate government action needed to close fuel transition cost gap appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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Powering oil & gas production with renewables and low-carbon energy: Electrification brings emission cuts of 80%
Powering oil & gas production with renewables and low-carbon energy: Electrification brings emission cuts of 80% While the energy transition toolbox is filled with decarbonization tools, electrification seems to be the jewel in its crown, based on research conducted by Rystad Energy, which points out that applying this method to upstream operations has the potential…
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COP29 delivers hat trick with $1.3 trillion on the cards but lack of stronger mitigation and finance action seen as ‘betrayal’
COP29 delivers hat trick with $1.3 trillion on the cards but lack of stronger mitigation and finance action seen as ‘betrayal’ COP29 has managed to reach a consensus on tripling climate finance while setting a new worldwide target to direct $1.3 trillion of climate finance to developing countries by 2030. The post COP29 delivers hat…
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Carbon markets are a go but trillions at stake: Will ‘climate finance COP’ deliver the goods at the eleventh hour?
Carbon markets are a go but trillions at stake: Will ‘climate finance COP’ deliver the goods at the eleventh hour? Given the trillion-dollar gap between the Global South’s demands and the Global North’s proposal for a new climate finance target, the 29th Conference of the Parties (COP29) has run into overtime in one last attempt…
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$111 billion investment on Petrobras’ five-year agenda
$111 billion investment on Petrobras’ five-year agenda Petrobras has unveiled its new business plan for the 2025-2029 period (BP 2025-29) and strategic plan 2050 (SP 2050), outlining its focus and priorities to reinforce its long-term vision. The post $111 billion investment on Petrobras’ five-year agenda appeared first on Offshore Energy. Melisa Čavčić Go to offshore…
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Development moves forward but pending court verdict could spell the end for UK’s giant oil & gas projects
Development moves forward but pending court verdict could spell the end for UK’s giant oil & gas projects As the climate crisis intensifies, so do legal challenges for hydrocarbon projects, especially in the United Kingdom (UK), where two North Sea operators and climate activists are locked in a court battle with the potential to put…
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UK’s offshore oil & gas decom bill to hit £24.6 billion by 2033
UK’s offshore oil & gas decom bill to hit £24.6 billion by 2033 Offshore Energies UK (OEUK) has outlined in its new report that decommissioning work could account for 22% of the cumulative oil and gas spend over the next ten years. The post UK’s offshore oil & gas decom bill to hit £24.6 billion…
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COP29’s trillion-dollar net zero battle: Needs, wants, and reality of global energy scene run by oil & gas
COP29’s trillion-dollar net zero battle: Needs, wants, and reality of global energy scene run by oil & gas Many proponents of taking a stronger stance on global climate action are hoping for a pivotal shift in the final text of the 29th Conference of the Parties (COP29), which will turn the tide once and for…
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Canada’s proposed oil & gas emissions cap: Boost in production, jobs, and economy or across-the-board cuts?
Canada’s proposed oil & gas emissions cap: Boost in production, jobs, and economy or across-the-board cuts? Canada has come up with draft regulations to set a greenhouse gas (GHG) pollution cap for the oil and gas industry. The government claims the latest regulatory tool in the raft of measures that are part of its wider…
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Brunsbüttel Ports are ‘essential pillar’ for Germany’s energy supply security
Brunsbüttel Ports are ‘essential pillar’ for Germany’s energy supply security Germany’s Brunsbüttel Ports is poised to play an important role in the country’s energy supply security and make a significant contribution to achieving climate goals. The post Brunsbüttel Ports are ‘essential pillar’ for Germany’s energy supply security appeared first on Offshore Energy. Naida Hakirevic Prevljak…