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French oil giant Total, which is working to transform itself into a wider energy industry company, will outpace green energy majors Iberdrola and Ørsted on renewable power capacity by 2030. This is according to analysis from energy intelligence group Westwood. The insight highlights the oil and gas major’s ambitions to reach 100GW of renewable power... Continue Reading →
Another company involved in the oil & gas sector has set its sights on offshore wind, as the industry increasingly moves towards renewable energy amid the global energy transition. The latest to announce its clean energy plans is BW Offshore, which is now in investment discussions with the floating wind company Ideol. The Norway- and... Continue Reading →
(Reuters) - Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as oil output was set to decline from its 2019 peak. The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in... Continue Reading →
(Reuters) - France’s Total posted better than expected earnings in the fourth quarter as oil prices stabilised, and said it would change its name as part of a push to diversify and grow renewable power and electricity production. The French oil and gas major, which like rivals suffered in 2020 as fuel consumption tumbled during... Continue Reading →
For the offshore wind industry, 2020 was all about ambitions. Policymakers raised the bar for growth, focusing on job creation amid the offshore wind cost-out and the coronavirus pandemic. Renewables targets were raised and decarbonization plans that span the length of the supply chain were brought forward. This momentum is likely to continue in 2021,... Continue Reading →
Royal Dutch Shell's profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company's retail network and trading business helped cushion the blow. The Anglo-Dutch oil major's annual profit slumped 71% to $4.8 billion as its oil and gas production and profits from... Continue Reading →
(Reuters) -Top U.S. oil producer Exxon Mobil on Tuesday posted its first annual loss as a public company as the COVID-19 pandemic hammered energy prices and it reduced the value of its shale gas properties by more than $20 billion in the fourth quarter. Exxon cut up to 15% of its workforce and delayed oil... Continue Reading →
(Reuters) - BP plunged to a $5.7 billion loss last year, its first in a decade, as the pandemic took a heavy toll on oil demand, and the energy company warned of a tough start to 2021 amid widespread travel restrictions. Despite the weak environment, however, CEO Bernard Looney told Reuters the company’s transition to... Continue Reading →
The Brazilian arm of the Chinese electricity company SPIC officially entered the Porto do Açu thermoelectric park, in São João da Barra (RJ). The company completed the acquisition of 33% of the GNA I and GNA II projects, which add up to 3 GW of generation from LNG. SPIC will contribute its experience in operating... Continue Reading →
Italian engineering and construction services firm Saipem has won a contract worth 460 million euros (around $556 million) to build and install foundations at a wind farm offshore France. The contract, awarded by Eoliennes Offshore du Calvados SAS (EODC) for the Courseulles-sur-Mer Offshore Wind Farm in Normandy, France, is subject to EODC reaching a final investment decision... Continue Reading →
