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(Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday will announce a $950 million loan to the Clean Technology Fund (CTF), a multilateral trust fund that helps developing countries accelerate their transition from coal power to clean energy. The contribution, the first of its kind from the U.S. Treasury, makes good on a U.S. pledge... Continue Reading →
(Reuters) - OPEC+ agreed steep oil production cuts on Wednesday, curbing supply in an already tight market, causing one of its biggest clashes with the West as the U.S. administration called the surprise decision shortsighted. OPEC's de-facto leader Saudi Arabia said the cut of 2 million barrels per day (bpd) of output - equal to... Continue Reading →
Crowley has completed the purchase of 42 acres in Salem, Massachusetts, the latest milestone toward the development of the state’s second major offshore wind port terminal. The Salem Harbor Wind Terminal is a public-private partnership between Crowley and the City of Salem, with AVANGRID serving as the port’s anchor tenant through its Commonwealth Wind and... Continue Reading →
Atlantic Shores Offshore Wind, a 50/50 partnership between Shell New Energies US LLC and EDF Renewables North America, has appointed Joris Veldhoven as the company’s first Chief Executive Officer. The joint venture is working to develop offshore wind projects on the U.S. east coast, with the aim of providing electricity to New York and New... Continue Reading →
About 157,706 barrels, or 9%, of oil production in the U.S. Gulf of Mexico were shut on Wednesday by Hurricane Ian, said offshore regulator Bureau of Safety and Environmental Enforcement. Hurricane Ian was lashing Florida's Gulf Coast with powerful winds and drenching rain, but the Category 5 storm steered clear of the Gulf's richest oil production areas. ... Continue Reading →
(Reuters) - U.S. climate envoy John Kerry cautioned against investing in long-term gas projects in Africa as countries in the region, some hoping to tap recent oil and gas discoveries, wrestle with how to power their development with clean energy. "We are not saying no gas," Kerry told Reuters on the sidelines of an African... Continue Reading →
(Reuters) - The Biden administration on Thursday unveiled a plan to accelerate development of next-generation floating offshore wind farms by slashing the cost of the technology by 70% and setting a goal for it to power 5 million U.S. homes by 2035. The announcement was the latest in the White House's push to bolster the... Continue Reading →
(OM) The American Petroleum Institute (API) and Offshore Operators Committee (OOC) have signed a memorandum of understanding (MOU) to develop standards and guidance for offshore wind energy development. “The natural gas and oil industry has decades of offshore operating experience under highly technical and complex conditions,” said API Senior Vice President of Global Industry Services... Continue Reading →
(Reuters) The Biden administration on Wednesday said it had reinstated bids from a November 2021 Gulf of Mexico sale of offshore oil and gas drilling rights, a requirement buried in U.S. President Joe Biden’s new climate change and drug pricing law. The move comes after a federal judge in January vacated the sale’s results, saying... Continue Reading →
(OE) U.S. Customs and Border Protection clarified further the permissible foreign vessel scope of work for offshore wind cable installation in rulings issued on June 30, 2022, and September 2, 2022. In two instances – installation of cable protection and transportation of excess cable – CBP has narrowed permissive prior rulings. CBP has long held that a... Continue Reading →
