Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) Chinese state-controlled oil giant Sinopec, said it expects to launch its first green hydrogen project, a zero-carbon fuel generated from renewable energy sources, in the Inner Mongolia region in 2022. The company, China's largest hydrogen producer, also said it will focus on fossil fuel-based hydrogen output over the next five years and set up... Continue Reading →
The subsea industry must act now to capitalize on the energy transition as the road to net zero is already underway and companies need to meet the change of pace required, according to Tom Heggarty, principal analyst in Wood Mackenzie’s Energy Transition Practice. Opportunities include facilitating the growth of the offshore wind market by supporting the installation of turbines, the... Continue Reading →
The International Energy Agency’s (IEA) has announced the world’s first comprehensive study on how to transition to a net-zero energy system by 2050. According to the IEA, climate pledges by governments to date – even if fully achieved – would fall well short of what is required to bring global energy-related carbon dioxide (CO2) emissions to net-zero... Continue Reading →
(Reuters) Global investment in energy transition technologies needs to more than double over the next few decades to significantly reduce the cost of renewables, which are set to provide around 60% of the world’s energy needs by 2030, industry officials say. A breakthrough in commercial technology to decarbonise projects could reduce both project time and... Continue Reading →
According to new research from Oxford Brookes University, vertical offshore wind turbines are much more efficient in large-scale wind farms than conventional turbines, and when used in pairs, vertical turbines can boost each other's output by up to 15%. A research team from the School of Engineering, Computing and Mathematics (ECM) at Oxford Brookes led... Continue Reading →
Italian oil and gas company Eni has released its Eni for 2020 sustainability report, outlining the company’s path to face the global challenges. The company noted its total amount for investments in decarbonization, circular economy and renewables and expenditure on research and development is equal to €5.7 billion in its 2021-24 plan. Eni reminded that The 2030 Agenda... Continue Reading →
(Reuters) Europe's biggest wind power group Iberdrola (IBE.MC) reaffirmed its 2021 growth outlook on Wednesday after reporting rising quarterly earnings supported by rapid building of renewable energy plants and investments in networks. Buoyed by a global shift towards the low-carbon energy sources it has been investing in for two decades, northern Spain-based Iberdrola plans to almost triple... Continue Reading →
Brazil's worst drought in two decades will force the country to depend more heavily on costly thermal power plants to compensate for reduced hydroelectric generation, the National Electric Grid Operator (ONS) director-general said. According to Luiz Carlos Ciocchi, this could keep power prices high but he saw no risk of power shortages or rationing. "If... Continue Reading →
(Reuters) Renewable energy grew at its fastest pace in two decades last year, led by China, and will continue to grow in the next two years, a report by the International Energy Agency (IEA) showed on Tuesday. New renewable energy capacity in 2020 rose by 45% to 280 gigawatts (GW) last year, the largest year-on-year... Continue Reading →
Subsea 7 has reported an adjusted EBITDA increase of 50 per cent in the first quarter of 2021, to $102 million, compared to $68 million from the same period in 2020. According to Subsea 7, the mentioned boost is driven by progress on Subsea and Conventional projects, high utilization of the PLSVs, and activities on... Continue Reading →
