Hit by the second industry downturn in five years, global awards for FPSO vessels will likely be limited to a single unit in 2020, Rystad Energy believes.
The North Sea has been a cash cow for the UK and Norway contributing to their economies for over half a century.
The international shipping industry will fail to tackle its global greenhouse gas (GHG) emissions unless it puts in place rules that truly reflect the climate impact of shipping fuels, a new report finds.
Italian oil major Eni is expecting to report impairments of around 3.5 billion euros (around $3.96 billion) as a result of a lower outlook for energy prices.
Offshore wind could become a $ 1 trillion industry over the next two decades, and renewable energy in general will create an investment opportunity of between $ 8 trillion and $ 16 trillion by 2030, according to some of the reports recently published. Meanwhile, oil & gas giants are making concrete
German container shipping major Hapag-Lloyd intends to navigate through the coronavirus crisis without seeking state aid.
The coronavirus pandemic will have a dramatic impact on energy supply and demand in the short term and will have lasting impacts once the pandemic dissipates but on its own will not be enough to advance the world’s progress towards the Paris climate ambitions, classification society DNV GL said.
The COVID-19 pandemic has been an eventful time during which many steps were taken by governments, political organizations, the EU, and oil companies to plan a faster, more efficient, and more impactful energy transition. Here we look at a sequence of events working in favour of the transition to gr
The world’s first international demonstration operation to transport hydrogen has begun.
Container shipping companies’ fight to maintain freight rates high through capacity management seems to have paid off, beating forecasts on carrier profitability. The liners’ ability to adapt to the new normal through a disciplined approach to the deployment of ships comes as a surprise as dwindling
Japanese shipping major Mitsui O.S.K. Lines (MOL) has devised a plan comprising defensive measures the company should take in order to reduce market exposure and reexamine investment activities in response to the coronavirus pandemic’s impact. In order to be able to chart its path forward, MOL had t
Following up on the successful biofuel trial in April, Stena Bulk is to introduce low-carbon shipping options for its clients.
Polarcus is taking further actions to streamline its business and adjust operational capacity to align with current market conditions. This follows on the $15 million cost reduction plan implemented due to the COVID-19 pandemic and oil price volatility. The company has additionally streamlined and r
Product tanker owner and operator Hafnia, a member of the BW Group, will soon enter a new product tanker segment with industry peers, established under the name of Hafnia Specialized, the company revealed. This business will handle tonnage below 25,000-dwt, Hafnia said, adding that more precise info
