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Russia commissions world’s first floating nuclear power plant

Russia commissions world’s first floating nuclear power plant   Akademic Lomonosov, the world’s first floating nuclear power plant (NPP), has been fully commissioned in Pevek, Chukotka region in the Russian Far East. The NPP was built by Russian state atomic energy corporation Rosatom via its electric power division Rosenergoatom. Rosenergoatom director Andrei Petrov s...

BP slashes management team in half amid green energy push

BP slashes management team in half amid green energy push   BP is cutting the size of its top management team by more than half as part of new boss Bernard Looney’s plan to make the oil giant a net zero emissions company. The FTSE 100 giant will cut its leadership positions to roughly 120 from 250 with many veteran executives set to leave in the coming months, Reuters reported, citing company sources. In an email to staff last week Looney named more than 100 so-called tier...

India energy firms forge renewable energy alliance

India energy firms forge renewable energy alliance   India's Oil and Natural Gas Corporation Limited (ONGC) and NTPC ltd have announced plans to set up a Joint Venture (JV) company for renewable energy business. The two companies entered into a Memorandum of Understanding (MoU) on 21 May 2020 in Delhi to formalise this arrangement. As per the MoU, NTPC and ONGC will aim to establish renewable power assets including offshore wind, in India and overseas, and explore opportunities...

Engie secures $210m loan for Campo Largo wind complex

Engie secures $210m loan for Campo Largo wind complex   Engie has secured a loan of BRL1.2bn ($210m) from the Brazilian Development Bank (BNDES) for its renewable power generation project Campo Largo wind complex – phase 2. Located in the state of Bahia in the municipalities of Umburana and Santo Sé, the wind complex has an installed capacity of 361.2MW and is currently under construction. In March this year, the company secured a loan from BNDES for the Gralha Azul...

Equinor moving forward with wind farm sequels offshore UK

Equinor moving forward with wind farm sequels offshore UK   Equinor is preparing to begin its public consultations with Norfolk communities on its proposed wind farm extension projects planned to be built adjacent to the company’s existing offshore wind farms off the North Norfolk coast. The existing Sheringham Shoal and Dudgeon offshore wind farms provide renewable electricity for 750,000 UK homes, Equinor said. The Sheringham Shoal Extension and the Dudgeon Extension would...

Renewable energy transition to accelerate on drop in power demand

Renewable energy transition to accelerate on drop in power demand   The global plunge in electricity demand will drag on long after nations lift stay-at-home orders, leading to the biggest annual drop since the Great Depression and fundamentally reshaping power markets. As economies struggle to recover, worldwide electricity consumption will decline 5% in 2020, the most in more than eight decades, according to the International Energy Agency. In the U.S. last week, government analy...

Equinor, Shell, Total to invest in CCS project in Norway

Equinor, Shell, Total to invest in CCS project in Norway   European oil companies Equinor ASA, Royal Dutch Shell Plc and Total SA have decided to invest in the Northern Lights carbon capture and storage (CCS) project in Norway. The project partners have submitted development and operation plans to the Norwegian ministry of petroleum and energy. Their investment decision will depend on Norwegian authorities taking the final investment decision (FID) and receiving approval from the E...

BP chief says Covid has deepened commitment to net-zero emissions

BP chief says Covid has deepened commitment to net-zero emissions   BP’s new chief executive said the impact of the coronavirus pandemic has deepened his commitment to shrinking the oil giant’s carbon footprint to zero. Bernard Looney, who took the helm of the oil firm in February, said he was “more convinced than ever” that BP must embrace the energy transition following the collapse of global oil markets. He told the Guardian that his commitment to stee...

Hydrogen central to oil & gas industry decarbonization as expectations for market growth surge - DNV GL research

Hydrogen central to oil & gas industry decarbonization as expectations for market growth surge - DNV GL research   A new report reveals that hydrogen has surged up the priority list of many oil and gas organizations, taking a primary position in the sector’s decarbonization efforts. A fifth (21%) of senior oil and gas industry professionals say their organization is already actively entering the hydrogen market, according to a new report published by DNV GL, the technical...

Offshore oil and gas industry eyes net zero opportunities in recovery plan

Offshore oil and gas industry eyes net zero opportunities in recovery plan   The leading representative body for the UK’s offshore oil and gas sector has convened a group of experts to help shape the sector’s recovery as it looks beyond the immediate health and safety issues posed by COVID-19.  BP regional president Ariel Flores, Aker Solutions head of UK and SVP Europe and Africa Sian Lloyd-Rees, Wood's Asset Solutions CEO Dave Stewart, Shell's VP Upstream St...

World's largest wealth fund blacklists Glencore, other giants over coal use

World's largest wealth fund blacklists Glencore, other giants over coal use   Norway's $1 trillion (812.08 billion pounds) wealth fund is excluding some of the world's biggest commodities firms from its portfolio, including Glencore and Anglo American, because of their use and production of coal. Underlining the growing role of climate considerations for long-term investors, the fund is also excluding German utility RWE, South African petrochemicals firm Sasol and Dutch...

200 new jobs for the North East

200 new jobs for the North East   More than 200 long-term job opportunities are going to be created in the North East as the Port of Tyne is announced as the new base for the globe’s biggest offshore wind farm. The multi-million pound investment by Equinor and SSE Renewables, the two companies behind the world’s biggest offshore wind farm Dogger Bank, in Port of Tyne will provide enough renewable electricty for 4.5million homes across the UK. It was announced on Wedn...

Europe's 2020 wind additions seen 30% below forecast: WindEurope

Europe's 2020 wind additions seen 30% below forecast: WindEurope   European wind developers are set to install 30% less capacity this year than forecast due to coronavirus-related restrictions, WindEurope CEO Giles Dickson told S&P Global Platts Monday. Projects face delays after 19 of roughly 150 production facilities across Europe suffered interruptions at some point, mainly in Italy and Spain. "We expect at least 12 GW of new wind capacity to be installed this ye...

Total joins O&G majors with net-zero ambitions, reconfirms renewables target

Total joins O&G majors with net-zero ambitions, reconfirms renewables target   Total has become the latest oil and gas (O&G) major to set its sights on becoming net zero by 2050, reconfirming its plans for a major green energy push despite the recent financial hit from the oil market crisis. Earlier this week, the French group said it would stick to its previously announced target to reach a 25GW renewables portfolio by 2025, as part a new plan to reach net zero emissions b...

Plans for Celtic Sea wind farms

Plans for Celtic Sea wind farms   A joint venture between the French oil and gas giant Total and Simply Blue Energy is planning to establish what will be the first wind farm in the Celtic Sea to the west of the UK writes Dag Pike. The planned 96MW wind farm will use WindFloat technology based on the floating wind turbines developed by the company. These tried and tested floating turbines were first deployed off the coast of Portugal nearly 10 years ago. The partners have submitted...

Fugro IOVTEC takes off for Taiwan’s offshore wind market

Fugro IOVTEC takes off for Taiwan’s offshore wind market   Fugro has established Fugro IOVTEC Co. Ltd (Fugro IOVTEC), a Taiwanese entity to support ongoing business expansion in the emerging offshore wind farm market in Taiwan. Fugro has been actively supporting the renewables market in Taiwan since 2016 under a Memorandum of Understanding (MOU) with IOVTEC. The creation of Fugro IOVTEC formalises Fugro’s long-term presence in the country to optimise their renewables gr...

Can Offshore Wind Prop Up Oil’s Supply Chain Through the Price Crunch?

Can Offshore Wind Prop Up Oil’s Supply Chain Through the Price Crunch?   Various streams of the energy transition — and none more than offshore wind — are seen as possible routes to new, less risky revenues for big oil companies and their supply chain. As the oil and gas sector faces the triple crises of coronavirus, the resulting recession and the halving of oil prices, can power and renewables plug the gap in their finances? Many big oil exploration companies ha...

Vestas factories in Spain return to work after two-week shutdown

Vestas factories in Spain return to work after two-week shutdown   Danish wind turbine maker Vestas Wind Systems A/S said over the weekend it will resume production at two of its factories in Spain after Easter, according to multiple local reports. The facilities, along with other non-essential businesses in Spain, were subject to the government's strict two-week lockdown aimed at slowing down the spread of the coronavirus disease COVID-19. Spanish daily El Economista report...

Equinor's $466M Floating Wind Farm Plan Approved

Equinor's $466M Floating Wind Farm Plan Approved   Norway approved on Wednesday Equinor's 4.8 billion Norwegian crowns ($466 million) plan to build floating offshore wind turbines that will provide electricity to North Sea oil and gas platforms, the energy ministry said. The long-planned project is going ahead despite Equinor's decision to cut investment following a plunge in oil prices that has reduced the company's cash flow. Five platforms at Norway's Snor...

Oceaneering secures seabed clearing contract for Scottish wind farm

Oceaneering secures seabed clearing contract for Scottish wind farm   Oceaneering International Services Ltd (OISL), a subsidiary of Oceaneering International, Inc. (Oceaneering), has been awarded a contract from Moray Offshore Windfarm (East) Limited (MOWEL) to complete seabed route and debris clearance for the Moray East Wind Farm project in the Moray Firth, Scotland. OISL will provide a full suite of services for the project, including vessel, route preparation tools, remotely o...
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