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Fossil Energy

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Illustration; Source: Environmental Defense Fund Europe (EDFE)
Fossil Energy

Global efforts to get rid of potent greenhouse gas menace heat up – Giving methane the slip

As waves of climate change woes buffet the world mercilessly, the zest to tackle the greenhouse gas (GHG) emissions challenge is spurring global action, with attempts to combat methane being first on the agenda.

12 minutes read
Leaders at COP29 Azerbaijan; Source: COP29 Azerbaijan
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Fossil Energy

COP29 delivers hat trick with $1.3 trillion on the cards but lack of stronger mitigation and finance action seen as ‘betrayal’

COP29 has managed to reach a consensus on tripling climate finance while setting a new worldwide target to direct $1.3 trillion of climate finance to developing countries by 2030.

16 minutes read
COP29 Azerbaijan; Source: COP29 Presidency
Fossil Energy

Carbon markets are a go but trillions at stake: Will ‘climate finance COP’ deliver the goods at the eleventh hour?

Given the trillion-dollar gap between the Global South’s demands and the Global North’s proposal for a new climate finance target, the 29th Conference of the Parties (COP29) has run into overtime in one last attempt at bridging the divide and finding common ground all parties can get behind. The cal

21 minutes read
FPSO Almirante Tamandaré; Source: Petrobras
Fossil Energy

$111 billion investment on Petrobras’ five-year agenda

Petrobras has unveiled its new business plan for the 2025-2029 period (BP 2025-29) and strategic plan 2050 (SP 2050), outlining its focus and priorities to reinforce its long-term vision.

about 1 year ago
Fast4Ward design; Source: SBM Offshore
Fossil Energy

SBM Offshore bankrolling construction of Guyana-bound FPSO with $1.5 billion loan

SBM Offshore has secured $1.5 billion with a consortium of 16 international financial institutions to cover the construction costs for a floating production, storage, and offloading (FPSO) vessel destined to be deployed on a deepwater oil development on the Stabroek block off the coast of Guyana, wh

about 1 year ago
Marjolein Kelder from The Rich North Sea at OEEC 2023 panel session ‘Offshore energy: Business for the better’
Fossil Energy

OEEC first offshore energy event with dedicated nature enhancement content program, exhibition pavilion

The Netherlands is a pioneer in including nature enhancement stipulations in offshore (wind) energy tenders. The Dutch event for the international offshore energy and maritime industries, Offshore Energy Exhibition & Conference (OEEC), has also given nature enhancement a prime spot in this year’s ed

about 1 year ago
An aerial view of an LNG complex
Fossil Energy

BP okays Indonesian $7 billion project to unlock additional gas for Asia

A consortium led by the United Kingdom’s energy supermajor BP has reached a final investment decision (FID) on a project featuring enhanced gas recovery (EGR) through carbon capture, utilization, and storage (CCUS) in Indonesia.

about 1 year ago
NAGA 7; Source: Velesto
Fossil Energy

Sunken rig’s wreck removal done as recycling ops near the finish line with Boskalis’ help

Velesto has confirmed the wrap-up of wreck clearance with recycling activities expected to follow suit shortly for one of its jack-up rigs that tilted due to an incident and subsequently sank in 2021.

about 1 year ago
$60 million in contracts to keep Solstad vessels at work for 900 days
Fossil Energy

$60 million in contracts to keep Solstad vessels at work for 900 days

Norwegian shipping company Solstad Offshore has secured multiple new contracts and contract extensions that have a combined value of around $60 million and represent around 900 vessel days. The construction support vessel (CSV) Normand Valiant has been awarded a one-and-a-half-year firm contract wit

about 1 year ago
High Island II jack-up rig; Source: Shelf Drilling
Fossil Energy

Aramco hits pause button on ops of another Shelf Drilling jack-up rig

Shelf Drilling has confirmed the receipt of one more notice of temporary suspension of operations for another jack-up rig working off the coast of Saudi Arabia in the Middle East, as Aramco, the country’s energy giant, continues its rig suspension spree.

about 1 year ago
ExD 1000M semi-submersible drilling platform renderings; Source: DSOC
Fossil Energy

US firm and Chinese player pooling resources to bring new semi-submersible rig design to life

On a mission to breathe life into its new semi-submersible drilling rig design, Friede & Goldman (F&G) has joined forces with China’s Dalian Shipbuilding Offshore Co. (DSOC).

about 1 year ago
SHI’s wing sail-equipped LNG carrier gets green light from Liberian Registry and KR
Fossil Energy

SHI’s wing sail-equipped LNG carrier gets green light from Liberian Registry and KR

South Korean shipbuilder Samsung Heavy Industries (SHI) has received approval in principle (AiP) from the Liberian Registry and Korean Register (KR) for the basic design of its wing sail-equipped LNG carrier. The approval for the LNG carrier with the wing sail, an eco-friendly auxiliary propulsion s

about 1 year ago
FPSO Petrojarl Knarr is expected to work at Equinor's Rosebank field; Source: Altera Infrastructure
Fossil Energy

Development moves forward but pending court verdict could spell the end for UK’s giant oil & gas projects

As the climate crisis intensifies, so do legal challenges for hydrocarbon projects, especially in the United Kingdom (UK), where two North Sea operators and climate activists are locked in a court battle with the potential to put the fossil fuel industry out of commission.

about 1 year ago
Brage platform; Source: OKEA
Fossil Energy

North Sea oil & gas project named after Odin’s mother from Norse mythology gets the go-ahead

OKEA has received the Norwegian government’s blessing to move forward with its plan for the development and operation (PDO) of an oil and gas field in the North Sea off the coast of Norway, which will be tied back to an existing platform.

about 1 year ago