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July 16 (oilprice.com) It’s not often that wind power and oil and gas are mentioned in the same breath. The rare occasion concerns a new type of offshore wind turbine launched in China that will power the extraction of fossil fuels by offshore oil platforms. Developed by the China National Offshore Oil Corporation (CNOOC), the... Continue Reading →
July 16 (OE) STS joint venture, formed by SBM Offshore and Technip Energies, and TotalEnergies EP Suriname have signed an agreement with French company Beyond the Sea to evaluate wind-assisted kite traction towing for the GranMorgu floating production, storage and offloading (FPSO) vessel offshore Suriname. The partners will develop, install, test and operate a Wind... Continue Reading →
June 30 (OE) Houston-based Nauticus Robotics has strengthened its balance sheet through a debt-for-equity exchange that eliminates approximately $4 million in outstanding debt while increasing shareholders' equity. The company announced June 30 that an existing lender agreed to convert approximately $4.0 million in outstanding indebtedness and accrued interest under Nauticus' Senior Secured Term Loan Agreement... Continue Reading →
June 16 (Reuters) - Norwegian oil and gas group Equinor has further scaled back its renewable energy ambitions, dropping a 2030 installed capacity target and cutting plans for investment, it said in a strategy update on Tuesday. The change reflects a wider industry trend, with peers, including BP and Shell, in recent years scrapping ambitions to transition from... Continue Reading →
June 17 (Reuters) - Portugal's government on Wednesday launched a process to assign over 1,000 areas for wind and solar projects around existing grid connections, which can be fast-tracked thanks to their low potential for environmental conflicts. By doing so, the government aims to attract more investment in the country that is already one of... Continue Reading →
June 16 (OE) Europe will require a dedicated fleet of around 65 CO2 carriers and a network of 33 ports by 2050 to support the large-scale deployment of carbon capture, utilization and storage (CCUS), according to a new study led by energy consultancy Xodus. The CCUS Enabling Infrastructure Study, prepared by Xodus on behalf of the... Continue Reading →
June 15 (Reuters) - The International Maritime Organization's decision defining Brazilian corn ethanol's carbon footprint is a landmark step that could position maritime transport as a major future market for the sector, industry executives told Reuters. In May, the IMO defined the default value of Brazilian corn ethanol's carbon footprint at 20.8 grams of carbon... Continue Reading →
June 9 (Reuters) - Norway's parliament on Tuesday ordered the government to review its planned subsidy for the country's first commercial floating offshore wind farm, raising concerns of a full development stop and a wider impact on energy transition projects. A proposal by the opposition Conservative Party seeking financial scrutiny of a 35 billion Norwegian... Continue Reading →
June 4 (OE) MODEC and Norway-based Eld Energy have signed a memorandum of understanding to develop a 1.2 MW power system integrated with carbon capture for future floating production, storage and offloading (FPSO) vessels. Under the agreement, Eld Energy will lead the design, procurement and construction of the solid oxide fuel cell (SOFC)-based power system,... Continue Reading →
April 23 (oilprice.com) The global energy crisis has reshaped global energy priorities seemingly overnight. The Strait of Hormuz has been closed to virtually all commercial traffic for well over a month now, severely restricting global flows of oil and gas. As a result, global energy prices have skyrocketed, and supplies have tightened, pushing many countries... Continue Reading →
Brazil Energy Insight 