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Companies in the most polluting sectors that have invested in climate action often find themselves valued below peers that have been slower to do so, highlighting the difficulty of getting shareholders to back sustainability. Investors have poured more than $30 trillion into environmental, social and corporate governance (ESG) strategies, data from the Global Sustainable Investment... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras loosened its dividend policy and raised capital spending projections in a new five-year strategic plan unveiled late on Wednesday that was cheered by analysts and investors. In a securities filing, Petroleo Brasileiro SA (PETR4.SA), as the company is formally known, said it was ending its previous dividend policy, which... Continue Reading →
(Reuters) - Brasil BioFuels will build the country's first plant to produce Hydrotreated Vegetable Oil, a fuel known as HVO or 'green diesel'. The plant will be in the northern city of Manaus and will begin production in January 2025, demanding 1.8 billion reais ($322 million) in investments. The plant will have an annual capacity... Continue Reading →
A ten-year tax credit worth up to $3 per kilogram of “clean hydrogen” was approved by the US House of Representatives on Friday as part of President Joe Biden’s Build Back Better Bill. The cleaner the hydrogen produced, the higher the tax credit received by producers — a move that could make green H2 derived from... Continue Reading →
The Wärtsilä technology group will commercially launch its Two-Stroke Future Fuels Conversion platform during the first quarter of 2022. This engine combustion technology platform will enable the rapid and cost-effective conversion of two-stroke main engines to operate in future fuel combustion. This is seen as an important step in the maritime industry's efforts to carry... Continue Reading →
(Reuters) - Industries including energy, steel and chemicals are looking to develop large-scale hydrogen applications to help reduce carbon emissions and avert global warming. Although hydrogen is the most abundant element in the universe, it's very scarce as a gas, and so far most methods of producing gas at scale release large amounts of carbon... Continue Reading →
(Reuters) - Petroleo Brasileiro SA (PETR4.SA) is expected to commit between $60 billion and $70 billion in capital expenditure (capex)in its next multi-year business plan as Brazil's state-controlled oil company focuses on exploration and production in subsalt areas, two sources said on Thursday. The 2022-2026 Petrobras plan, to be released on Nov. 25, is in the final... Continue Reading →
Marine Power Systems (MPS) has appointed Principia as lead contractor on detailed design and engineering of the floating platform that will support both wind and wave energy generating devices. Principia, part of the Artelia Group, has a dedicated offshore engineering team who has been working on offshore projects for over 40 years. The company brings... Continue Reading →
The market for offshore wind farm cables is set to grow six-fold over the course of this decade, according to a new report published by RenewableUK. The global market for subsea power cables is divided between array cables which run between the turbines of an offshore wind farm connecting them to the offshore substation, and... Continue Reading →
Offshore drilling companies Maersk Drilling and Noble Corp. last week announced they'd merge to form one of the world's largest offshore oil drilling rig companies. Westwood Energy's Terry Childs analyzes the proposed deal and how the combined Maersk/Noble drilling rig fleet stacks up against those of its rivals. The announcement of the merger of Maersk Drilling and... Continue Reading →
