(Reuters) - A surge in oil prices is drawing fund managers back into shares of oil and gas companies, even as some remain unsure that the price gains will stick. Energy stocks in the S&P 500 (.SPNY) are up 53.8% for the year to date compared with a 20.2% gain for the broader index, as rising demand... Continue Reading →
World’s Largest: Kincardine Floating Wind Farm Fully Operational
Kincardine floating offshore wind farm, located 15 km off the coast of Aberdeenshire, is now fully operational, Principle Power, a company that designed the 50MW wind farm's semi-submersible foundations, said Tuesday. The project, the world's largest of the type, consists of five Vestas V164-9.5 MW and one V80-2 MW turbine, each installed on WindFloat semi-submersible platforms... Continue Reading →
World must triple clean energy investment by 2030 to curb climate change -IEA
(Reuters) - Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency (IEA) said on Wednesday. "The world is not investing enough to meet its future energy needs ... transition‐related spending is... Continue Reading →
Construction begins on multi-megawatt scale baseload H2 power plant in French Guiana
(H2Tech) Ballard Power Systems unveiled that its partner, Hydrogene de France (HDF Energy), commenced construction of the CEOG Renewstable Power Plant (CEOG) in French Guiana. CEOG is the world's first multi-megawatt, baseload hydrogen power plant, and the largest green hydrogen storage of intermittent renewable electricity sources. Also, CEOG is the first order for a new... Continue Reading →
Video: SBM Offshore’s LNG2Wire Floater Concept
SBM Offshore, one of the world's largest suppliers of floating, production, storage, and offloading (FPSO) vessels for the offshore oil industry, is looking at ways to diversify its offering, with a more dominant role predicted for gas in the future. The company, which has the ambition to have 25% of revenues from Gas & Renewables... Continue Reading →
Chevron Eyes Net Zero Operational Emissions by 2050
Chevron Corp on Monday set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint. The move to cut upstream emissions from its own operations and indirect emissions such as those from power generation comes as investors and governments increase pressure... Continue Reading →
Qatar Petroleum Changes Name to Reflect ‘Broader Strategy’
Qatar changed the name of its state-owned oil and gas firm to Qatar Energy from Qatar Petroleum to reflect what it said was a broader strategy but said it had no plans to sell assets to raise funds as other Gulf state producers have. "We have plenty of cash," Chief Executive Saad al-Kaabi said on... Continue Reading →
Petrobras has authorization from Conama for all electric production units
The National Environment Council (Conama), which will allow Petrobras to reduce emissions in new projects with fully electrified platforms. The state-owned company says it is technologically prepared to adopt this type of platforms and, with the amendment to Resolution 382/2006, approved by Conama, it is able to incorporate the technology in its new maritime units.... Continue Reading →
Brazilian Government studying creating auction of areas for offshore wind
(epbr) The regulatory framework for offshore wind farms must be done by decree and create rules to define, by auction, who will have the right to explore maritime areas for energy generation. The auction would solve the dilemma of overlapping projects currently in the licensing process with Ibama, for example. -- The Minister of Mines... Continue Reading →
Shell flags $400 mln hurricane hit, but boost from soaring prices
(Reuters) - Royal Dutch Shell (RDSa.L) warned on Thursday of a $400 million hit to third-quarter earnings from the damage caused by August's Hurricane Ida. However, in an update ahead of quarterly results this month, the oil major also flagged a boost to cashflows from soaring natural gas and electricity prices. Gas and power prices have been... Continue Reading →
