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Inadequate investment in exploration and new drilling may leave the world without enough oil in 20 to 30 years despite a shift towards renewable power sources, top energy analysts say. The long-term outlook contrasts with today's situation where plunging oil demand due to the coronavirus crisis has left the market oversupplied, prompting the Organization of the Petroleum Exporting Countries,... Continue Reading →
Late 2018, before net-zero targets had been agreed to by most western energy giants and nations, BP came out with a goal to reach 100% of subsea inspection by marine autonomous systems by 2025. It was a tangible goal then, and it’s one that might now be reached faster as remote and more “digitally” oriented... Continue Reading →
Italian oil and gas giant Eni and oilfield services provider Saipem are entering into a collaboration for decarbonization projects in Italy in a push to reduce carbon intensity and achieve CO2 reduction targets. Eni’s CEO, Claudio Descalzi, and Saipem’s CEO, Stefano Cao, on Wednesday signed a Memorandum of Understanding (MoU) to cooperate on the identification and engineering... Continue Reading →
Petrobras President Roberto Castello Branco defended changes in the rules for oil exploration and production in Brazil, which he classifies as unattractive to business. For him, the sharing regime must be extinguished. Castello Branco participated in an online chat at Rio Oil & Gas, the largest event in the oil and gas sector in Latin... Continue Reading →
Eni has entered into agreements with Equinor and SSE Renewables to acquire 10 per cent stake in Dogger Bank A and B from each, which will lead to a shareholding setup of SSE and Equinor each owning 40 per cent and Eni holding 20 per cent in the first two phases of what will become... Continue Reading →
(Reuters) - Petrobras does not expect to invest in renewables over the next five years, Chief Executive Roberto Castello Branco said on Tuesday, adding that the Brazilian state-controlled company will instead put money into technologies to reduce the carbon footprint of its oil extraction activities. Castello Branco has repeatedly said Petroleo Brasileiro SA, as the... Continue Reading →
The floating wind industry, still in its infancy, is set for a 2000-fold increase in installed capacity by 2050, DNV GL said, however, warning that more comprehensive industry standards and risk management is required for the technology to scale. According to the report by risk management and quality assurance company, the cost of floating wind... Continue Reading →
Equinor and SSE have announced a financial close on the first two phases of the world's largest offshore wind farm project - the Dogger Bank in the UK North Sea. Dogger Bank wind farm is a joint venture between SSE Renewables, who are leading the construction of the offshore wind farm, and Equinor, who will operate... Continue Reading →
Brazil's potential for power generation with wind farms installed at sea, a technology that is on the rise in the world but still unprecedented in the country, entered the radar of government technicians and companies such as the Norwegian oil company Equinor and the electric company Neoenergia, of the group Spanish Iberdrola. The state-owned Energy... Continue Reading →
The Brazilian Institute of the Environment and Renewable Natural Resources (Ibama) launched the Standard Term of Reference (TR) for Offshore Wind Energy Complexes. This TR brings the scope of what the entrepreneur should present in his study of environmental impact to attest the feasibility of this type of renewable energy enterprise, thus bringing clarity and... Continue Reading →
