MME announces R$6 billion in investments for decarbonizing the industry through hydrogen hubs

(TN) The Minister of Mines and Energy, Alexandre Silveira, announced the availability of approximately R$6 billion in investments for decarbonizing the industry through hydrogen hubs around the world. The initiative is in partnership with the Climate Investment Funds (CIF). The international fund will provide low-cost financing to leverage projects in the sector. The announcement was... Continue Reading →

October 7, 2024 1

Exclusive: BP abandons goal to cut oil output, resets strategy

(Reuters) - BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40%... Continue Reading →

October 7, 2024 0

Latin America gears up for clean hydrogen boom but the road is not smooth

(Reuters) - Latin America's wealth of hydroelectricity and other renewable energy resources could make the region a major producer of clean hydrogen as the world seeks alternatives to fossil fuels to fight the climate crisis, but some big hurdles lie in the way. Government leaders expect a major boon for the region from clean hydrogen,... Continue Reading →

October 4, 2024 0

Wood partners with Petrobras on future FPSO concepts

Wood has entered an agreement with Brazilian national oil company Petrobras to deliver concept studies with designs and recommendations aimed at optimising performance and reducing emissions to support a future Floating Production Storage and Offloading (FPSO) vision for the next decade. The first study will explore design concepts of FPSO units with lower human exposure to... Continue Reading →

October 3, 2024 0

Hydrogen project investments are accelerating but uncertainty remains, IEA says

(Reuters) - Final investment decisions for hydrogen projects have doubled over the last 12 months, dominated by China, but installed capacity and demand are low as the industry faces uncertainty, the International Energy Agency (IEA) said in a report on Wednesday. The investment decisions represent a five-fold increase of current low-emission hydrogen production by 2030,... Continue Reading →

October 2, 2024 0

Developers Seek Onshore Consent for Salamander Floating Wind Farm

(OE) Salamander Offshore Wind Farm, a project being developed by a joint venture between Ørsted, Simply Blue Group and Subsea7, has submitted its consent applications for the onshore aspects of its proposed 100 MW floating wind development. The applications outline Salamander’s plans for the onshore components of its proposed development, according to the joint venture... Continue Reading →

October 2, 2024 0

Vale and GEP partner in hunt for Brazilian green hydrogen opportunities

(Reuters) - Brazilian miner Vale and Green Energy Park have agreed to team up to explore opportunities for green hydrogen production in the South American country, the mining giant said on Tuesday. WHY IT'S IMPORTANT Brazil has been looking to develop a green hydrogen industry as part of efforts to unlock new sectors to power its... Continue Reading →

October 1, 2024 0

Climate goal to triple global renewable energy by 2030 within reach, IEA says

(Reuters) - A goal to triple global renewable energy capacity by 2030 and cut fossil fuel use is within reach, the International Energy Agency said in a report on Tuesday, but will require a huge push to unlock bottlenecks such as permitting and grid connections. The report comes as leaders from government and business come... Continue Reading →

September 24, 2024 0

Iberdrola, BP to build 25-MW green hydrogen project in Spain

(Reuters) - Spanish renewable power company Iberdrola and Britain's BP said on Thursday they had agreed to build a 25-megawatt green hydrogen plant in Castellon, on Spain's eastern coast. The project, which will benefit from a 15-million-euro ($16.5 million) EU subsidy, is designed to help BP reduce the carbon footprint of its oil refinery located in Castellon,... Continue Reading →

September 12, 2024 0

Petrobras and Gerdau sign agreement for low-carbon business studies

– Petróleo Brasileiro S.A. – Petrobras informs that it has signed a Memorandum of Understanding (MoU) with Gerdau S.A., aimed at evaluating commercial opportunities and potential partnerships in decarbonization projects; low carbon fuels; hydrogen and its products; carbon capture, utilization and storage (CCUS); as well as R&D projects related to the integrity of materials in... Continue Reading →

September 10, 2024 0