Category: net zero
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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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Odfjell presses play for Brazil-Europe green corridor as new zero-emission shipping step
Odfjell presses play for Brazil-Europe green corridor as new zero-emission shipping step Norway-headquartered Odfjell Group, a player in seaborne transportation and storage of chemicals and other specialty bulk liquids, has bankrolled and put into operation mode what it describes as the first operational green shipping corridor between Brazil and Europe. The post Odfjell presses play…
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Methanol and shore power recipe to unlock Newcastle – Amsterdam green shipping corridor
Methanol and shore power recipe to unlock Newcastle – Amsterdam green shipping corridor Given the growing zest for specific routes where vessels employ low-emission propulsion, a new study has assessed the technical and commercial feasibility of introducing a green shipping corridor between Newcastle and Amsterdam. The post Methanol and shore power recipe to unlock Newcastle…
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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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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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SBTi verifies ESL Shipping’s science-based net-zero targets
SBTi verifies ESL Shipping’s science-based net-zero targets Dry bulk cargo carrier ESL Shipping has received approval from the Science Based Targets initiative (SBTi) for its near and long-term emission reduction targets. The post SBTi verifies ESL Shipping’s science-based net-zero targets appeared first on Offshore Energy. Ajsa Habibic 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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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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GCMD unpacks cost and compliance tool for IMO’s new climate framework
GCMD unpacks cost and compliance tool for IMO’s new climate framework The Global Centre for Maritime Decarbonization (GCMD) has unpacked a cost and compliance calculator […] The post GCMD unpacks cost and compliance tool for IMO’s new climate framework appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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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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Wiernicki: Shipping can’t get to net zero by 2050 without nuclear
Wiernicki: Shipping can’t get to net zero by 2050 without nuclear “New nuclear technology is a global decarbonization solution and a commercial shipping disruptor. There is no net zero by 2050 without nuclear.” That was the view from ABS chairman and CEO Christopher J. Wiernicki, speaking at a Houston event organized by Core Power. “New…
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Gneiss: More UK production, fewer LNG imports key to meeting demand and keeping emissions at bay post-2030
Gneiss: More UK production, fewer LNG imports key to meeting demand and keeping emissions at bay post-2030 Gneiss Energy, a UK-based strategic and corporate finance advisory firm operating within the energy and natural resources sectors, has published a report on the potential negative effects the UK’s gas policy discouraging investments in local gas production could…
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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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Belfast Harbour to invest around $387 million in port projects over next five years
Belfast Harbour to invest around $387 million in port projects over next five years Belfast Harbour, Northern Ireland’s principal maritime gateway and logistics hub, has unveiled a new strategy setting out a program to invest £313 million (approximately $387 million) in capital projects across the port and Harbour Estate over the next five years. The…
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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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Report calls LNG ‘a false solution’ harming the climate, urging banks to stop financing export terminals
Report calls LNG ‘a false solution’ harming the climate, urging banks to stop financing export terminals Non-governmental research and campaigning organization Reclaim Finance and BankTrack, an international tracking, campaigning, and civil society support organization targeting private sector commercial banks and the activities they finance, have published a report asking banks to stop financing liquefied natural…
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FuelEU implementation to be postponed in Norway and Iceland
FuelEU implementation to be postponed in Norway and Iceland The FuelEU Maritime regulation, set to enter force January 1, 2025, will face delays […] The post FuelEU implementation to be postponed in Norway and Iceland appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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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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CMP reaffirms its dedication to sustainable maritime operations ahead of 2025
CMP reaffirms its dedication to sustainable maritime operations ahead of 2025 As the year 2024 draws to a close, Copenhagen Malmö Port (CMP) has reinforced […] The post CMP reaffirms its dedication to sustainable maritime operations ahead of 2025 appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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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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LNG as marine fuel: Fast-maturing but still in early stages, SEA-LNG found
LNG as marine fuel: Fast-maturing but still in early stages, SEA-LNG found Despite the fact that it is maturing faster than other alternative fuels, LNG and […] The post LNG as marine fuel: Fast-maturing but still in early stages, SEA-LNG found 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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$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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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…