Following a historic vote in parliament, the Norwegian Government on Tuesday announced its funding decision for the Northern Lights CO2 transport and storage project in Norway. The project will enable the shipping, reception, and sequestration of CO2 in geological strata in the Northern North Sea, a
Over three quarters or 77 per cent of new LNG supply are at risk under a 2-degree scenario, according to the latest report by Wood Mackenzie.
The Brazilian mining giant Vale has discharged its last cargo in China transported on a converted Very Large Crude Carrier (VLOC), the company said. The move follows Vale’s new risk management approach, made in January 2020, when the company decided to phase-out or substitute all 25 converted vessel
Australian operators are expected to sanction some $11 billion worth of gas projects in 2021, following a year of belt-tightening.
The world is on track to run out of sufficient oil supplies to meet its needs through 2050 unless exploration speeds up, Rystad Energy reveals.
With the first lockdowns in place in March 2020, the Internet and social media were buzzing with posts and images of empty cities, and in some cities, even wild animals were pictured roaming the streets as if nature was reclaiming the world from humanity. As governments across the globe shut down th
Hydrogen production is expected to see a significant hike in investment in 2021, as more hydrogen projects get the green light.
Investments in offshore wind projects in new and emerging markets next year will result in offshore wind gaining a greater share of the total wind power market globally, according to the latest report from Fitch Solutions. There are currently over 66 GW of offshore wind in pre-construction or constr
The U.S. oilfield services sector has lost 91,680 jobs due to the effects of the Covid-19 pandemic, according to a monthly report compiled and published by trade group Petroleum Equipment & Services Association (PESA).
Global demand for offshore helicopter transport to offshore facilities plunged in 2020 as a result of the Covid-19 pandemic, a Rystad Energy report shows.
German container shipping company Hapag-Lloyd has raised its earnings forecast amid better than expected business performance. For the 2020 financial year, earnings before interest, taxes, depreciation and amortisation (EBITDA) of €2.6 to 2.7 billion, from the previously announced €2.4 to 2.6 billio
What will become of oil and gas exploration efforts in the near- and longer-term following a drastic decrease in the level of oil and gas investments?
Nearly 90% of British seafarers have been affected by the pandemic and one in two is now considering their future in the industry, research from Nautilus International shows. The seafarers have been directly impacted by the crew change crisis, with issues including being stranded at sea due to lack
Floating wind will account for 2 per cent of the world’s power supply by 2050 and its cost will drop some 70 per cent by that time. Still, a more comprehensive industry standards and risk management are required for the technology to scale, according to a new report from DNV GL. The report discusses
