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TechnipFMC has completed the acquisition of outstanding shares of Magma Global with an aim to accelerate the development of composite pipe technologies for conventional energy and CO2 applications. TechnipFMC originally acquired an interest in Magma in 2018, combining its experience in flexible pipe technology with Magma’s composite capabilities to develop a disruptive composite pipe solution... Continue Reading →
(Reuters) - Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency (IEA) said on Wednesday. "The world is not investing enough to meet its future energy needs ... transition‐related spending is... Continue Reading →
Offshore drilling firm Transocean has committed to reducing operating Scope 1 and Scope 2 greenhouse gas emissions intensity by 40% from 2019 levels by 2030. “Globally, almost one billion people lack access to electricity, and all of us desire reliable and affordable sources of energy that help improve our daily lives. As such, we believe... Continue Reading →
(H2Tech) Ballard Power Systems unveiled that its partner, Hydrogene de France (HDF Energy), commenced construction of the CEOG Renewstable Power Plant (CEOG) in French Guiana. CEOG is the world's first multi-megawatt, baseload hydrogen power plant, and the largest green hydrogen storage of intermittent renewable electricity sources. Also, CEOG is the first order for a new... Continue Reading →
SBM Offshore, one of the world's largest suppliers of floating, production, storage, and offloading (FPSO) vessels for the offshore oil industry, is looking at ways to diversify its offering, with a more dominant role predicted for gas in the future. The company, which has the ambition to have 25% of revenues from Gas & Renewables... Continue Reading →
4Subsea, a provider of tech solutions for the offshore energy industry, has secured a service agreement to monitor steel catenary risers on the Bacalhau field FPSO, offshore Brazil. The field, in Brazil's Santos Basin, is operated by Norway's Equinor. 4Subsea, part of Subsea 7, will deliver the service using its 4insight Subsea Asset Integrity a... Continue Reading →
(OE) That’s the question? Or, more specifically, are there alternative ways of delivering robotics to where they’re needed without having to have seabed docking stations? Elaine Maslin takes a look. The idea for some kind of resident subsea vehicle has been around for some time. From BP’s considerations in 1986 for an integrated ROV launch... Continue Reading →
Chevron Corp on Monday set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint. The move to cut upstream emissions from its own operations and indirect emissions such as those from power generation comes as investors and governments increase pressure... Continue Reading →
(Offshore) Wood Mackenzie estimates that the global upstream industry could net a windfall of over $1 trillion if oil prices remain above the $50/bbl planning price. According to research director Kavita Jadhav, there are various ways the industry could invest the extra revenue. These include returning cash to shareholders, maintain spending on oil and gas, and... Continue Reading →
Subsea engineering, construction and services company Subsea 7 has revealed its target to achieve net-zero greenhouse gas (GHG) emissions by 2050. In addition, using 2018 as a baseline year, Subsea 7’s target is to reduce its Scope 1 and Scope 2 emissions by 50% by 2035. According to the company, the goal is based upon... Continue Reading →
Brazil Energy Insight 