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(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 →
(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 →
(OE) Saipem and newcleo have signed a collaboration agreement to identify solutions for the offshore application of newcleo’s technology to produce nuclear energy, which could provide zero-emission electricity for oil and gas installations. The objective of the agreement signed by the companeis is to study the application of newcleo’s Small Modular Lead-cooled Fast Reactor (SM-LFR)... Continue Reading →
(offshore-energy.biz) Given the rising expectations about oil and gas, especially liquified natural gas (LNG), being in demand even after 2050, entwining innovation and technology arms is increasingly being recognized as the right recipe to not only unleash untapped low-carbon barrels but also unlock the gates of green power. Japan’s MODEC and the UK-based Altera Infrastructure... Continue Reading →
(OE) Norwegian seismic company TGS announced it has entered into a partnership with Brazilian state-owned energy company Petrobras to collaborate on scientific research and technological development activities in Brazil. Under the memorandum of understanding (MOU), the partners will seek to drive innovation in the energy sector through collaborative efforts to develop new technologies and conduct... Continue Reading →
(OE) British startup DRIFT Energy has closed a seed funding round for making green energy at sea using hi-tech sailing vessels. Led by Octopus Ventures, one of the largest and most active venture capital investors in the UK and Europe, and with support from Blue Action Accelerator, the company has secured £4.65 million ($6 million),... Continue Reading →
(PN) Equinor, in partnership with CBO and Wärtsilä, has completed the hybridization of the CBO Wiser, a PSV (Platform Supply Vessel) type vessel. The vessel now has a battery system and uses both diesel and electric power, becoming the first of its kind in Brazil to operate in this way. With this innovation, a reduction... Continue Reading →
(epbr) The Port of Açu, located in the north of Rio de Janeiro (RJ) and controlled by Prumo Logística, announced the closing of the first contract to reserve an area for the hydrogen hub of the Port of Açu. The agreement was signed with the Norwegian company Fuella, specialized in the development and operation of... Continue Reading →
(Reuters) - Portugal plans to raise the contribution of renewables in electricity consumption to 93% by 2030, as part of its decarbonisation push, according to an updated draft of its energy and climate plan seen by Reuters on Monday. However, the draft proposal plans to lower the 2030 target for the installed capacity of electrolyzers... Continue Reading →
(Reuters) BP expects oil demand to peak next year and wind and solar capacity to grow rapidly in both of the two main scenarios in its annual Energy Outlook, a study of the evolution of the global energy system to 2050 it published on Wednesday. Carbon emissions, caused predominantly by the burning of fossil fuels,... Continue Reading →
