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(OW) Denmark plans to put 9 GW of new offshore wind capacity out to tender by the end of the year in an effort to increase its offshore wind capacity fivefold by 2030, according to the country’s Ministry of Climate, Energy and Utilities. The government and the authorities are working to ensure that there is... Continue Reading →
(OE) DNV said Monday it was launching the second phase of H2Pipe, a joint industry project (JIP) aiming to develop a new code for the design, re-qualification, construction, and operation of offshore pipelines to transport hydrogen—either pure or blended with natural gas. DNV’s Hydrogen Forecast to 2050 anticipates that over 50% of hydrogen pipelines globally... Continue Reading →
(OET) While looking into the conundrum concerning the cashflow and capex of five supermajor oil companies – BP, Shell, Chevron, ExxonMobil and TotalEnergies – Westwood Global Energy, an energy market research and consultancy firm, has outlined that capital investment is lagging, even though the energy giants became efficient in generating cash from oil and gas production, enabling record... Continue Reading →
(Reuters) BP is set to hire over 100 employees to its offshore wind division as the energy company rapidly expands its operations in the fast-growing sector around the world. The hiring process will begin in the coming weeks, as part of BP's ambition to double the size of the offshore team to 800 employees over... Continue Reading →
Oil major BP has formed an offshore wind joint venture with Norway's Deep Wind Offshore to develop offshore wind farms in South Korea. As part of the deal agreement, BP has acquired a 55% stake in Deep Wind Offshore’s early-stage offshore wind portfolio, which includes four projects across the Korean peninsula with a potential generating capacity of... Continue Reading →
(U) Norwegian oil and gas major Equinor has defended the strategy driving its renewables business division and said performance will improve as assets become operational. Equinor this week joined its energy peers in reporting stellar profits for 2022 and returning more capital to shareholders, with a record $74.9 billion in adjusted operating profits booked last... Continue Reading →
(Reuters Breakingviews) - Heated trade tensions could cool if the United States and the European Union make concessions on hydrogen. Washington’s Inflation Reduction Act includes subsidies that could slash the cost of the element’s sustainably produced “green” version by 2030. If the EU can negotiate better access to America’s production chain while attractively managing its future import... Continue Reading →
European banks risk jeopardizing the path to net-zero carbon emissions and the growth of renewable energy unless they stop directly financing new oil and gas fields this year, investors managing assets worth more than $1.5 trillion said on Friday. ShareAction said it had made the demand in letters sent to the heads of Barclays, BNP... Continue Reading →
(Reuters) - British bank NatWest (NWG.L) said on Thursday it would immediately stop all reserve-based lending for new customers financing oil and gas exploration and extraction, before phasing it out entirely by the end of 2025. The lender's commitment comes as financial firms face greater pressure from policymakers and investors to reduce the scale of climate-damaging carbon... Continue Reading →
(OE) Renewable energy developer and fund manager Copenhagen Infrastructure Partners (CIP) intends to invest 8 billion euros ($8.6 billion) in a large offshore wind power park in Portugal that is preparing its first auction of such concessions. CIP said on Thursday in a statement it aimed to create an installed capacity of 2 gigawatts in... Continue Reading →
Brazil Energy Insight 