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(Reuters) - Mexico's government on Friday ordered state energy company Pemex to temporarily take control of a hydrogen plant inside one of its largest refineries but operated by French company Air Liquide (AIRP.PA). President Andres Manuel Lopez Obrador, who signed a decree that declared hydrogen supply from the plant "a matter of public interest," has tightened... Continue Reading →
(CNN) The Biden administration issued long-awaited preliminary guidance Friday on its expansive clean hydrogen tax credit, tilted in favor of hydrogen produced from clean electricity. The hydrogen tax credit is one of the most generous subsidies contained in the Inflation Reduction Act — giving companies up to $3 for every kilogram of hydrogen produced. Along with other... Continue Reading →
(OET) Reusing existing pipelines for offshore hydrogen is the best solution that can be used, however, this does come with certain challenges, according to Bart Steuten, Product Development Manager at Strohm, Dutch thermoplastic composite pipe (TCP) producer. Steuten discussed the production of hydrogen offshore, what we can expect in the future, the good sides of... Continue Reading →
(OE) Despite short-term obstacles driven by high inflation and interest rates coupled with supply chain issues, we maintain that the foundations supporting long-term offshore wind activity remain solid. As we prepare for the new year, let us look at 10 factors that will shape the offshore wind sector in 2024. 1. A Continuously Dynamic Energy... Continue Reading →
(OET) Uruguay’s state-owned energy company ANCAP has tucked a new milestone under its belt with the signing of contracts for four offshore blocks with three oil and gas players in line with the framework of the Open Uruguay Round that has been in force since 2019. As a result, the UK-headquartered Shell, the U.S.-based APA Corporation, and... Continue Reading →
(Reuters) - The U.S. will release guidance for how hydrogen producers can secure billions of dollars of subsidies embedded in last year’s Inflation Reduction Act sometime this year after the COP28 climate conference in Dubai, U.S. energy advisor John Podesta told Reuters on Wednesday. Industry has been waiting anxiously for the guidance from the U.S. Treasury Department for months,... Continue Reading →
(Reuters) - Exxon Mobil (XOM.N) CEO Darren Woods' first five years at the oil company were marred by missed oil production targets, an investor rebellion and the company's biggest-ever financial loss. Redemption came this year when - aided by a share price pumped up by high oil prices - he clinched a $60 billion deal to buy shale rival... Continue Reading →
(Reuters) - TotalEnergies's (TTEF.PA) CEO gave his backing to an international pledge to triple renewable energy generation at the COP28 climate summit, calling it necessary to phase out fossil fuels and decarbonise. "It's the right way to frame the object, tripling renewables, because if we don't do that, there's no way to phase out fossil energy," Patrick Pouyanne told... Continue Reading →
(OP) Spain’s Iberdrola and the UAE’s Masdar agreed on Tuesday to form a strategic partnership looking to invest $16.2 billion (15 billion euros) in offshore wind and hydrogen in major markets including the U.S., the UK, and Germany. Iberdrola, a utility giant with 41 gigawatts (GW) of renewables in operation, and the UAE’s clean energy developer Masdar... Continue Reading →
The MOU was signed this Saturday morning that will allow joint investments by the National Bank for Economic and Social Development (BNDES) and the World Bank in the low-carbon hydrogen value chain. According to the document, the focus will be on carbon capture projects; electrolysers and associated equipment; shared logistics and infrastructure in hubs focused... Continue Reading →
Brazil Energy Insight 