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Energy

McDermott JV Bags Arctic LNG-2 Deal

Image: Mcdermott Wuchuan

Engineering services firm McDermott International announced that its joint venture Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd (QMW) in Qingdao, China, has been awarded a contract to provide three complex modules for the Arctic LNG 2 Project in the Yamal-Nenets Autonomous Region in Russia.

Colombia's SPEC LNG Expands

Map to show the location of SPEC LNG. Avenir LNG

Colombia´s LNG Import Terminal Sociedad Portuaria El Cayao (SPEC LNG) has signed a joint development agreement with Calamari LNG, Avenir LNG and Höegh LNG on providing additional LNG services at the Cartagena import facility.The additional services planned to be provided directly from the FSRU Höegh Grace include,

Middle East Risks Keep Oil Prices High

Oil prices have risen massively following the recent attacks on Saudi oil refining facilities – the US has responded by authorizing the release, if necessary, of emergency crude oil stocks to ease price pressures. (Photo © Adobe Stock / Douglas Knight)

Oil lost some of its big price rises today as the US announced the possible release of crude reserves but the possibility of military action in response to the drone attacks on Saudi oil facilities still means prices are high and that stocks are under pressure. Equity market losses have not been large

Oil Price Spike after Saudi Attack Temporary

Graph: Rystad Energy

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million barrels per day (bpd) of crude production, which equates to 7% of the current global crude and condensate production.Rystad Energy says that oil price spike will be short-lived.

Aramco Suspends 50% of Production

Amin H. Nasser. Photo: Saudi Aramco

Saudi Arabia has temporarily halted production at two Aramco oil facilities that were attacked by Yemeni rebels, interrupting about half of the company’s total output.Saudi Aramco said the production of 5.7 million barrels of crude a day had been suspended after drone attacks on the world’s

Shore Power Market to Reach $2.7Bln by 2024

Pic: Siemens

The global shore power market is estimated to be valued at USD 1.4 billion in 2019 and is projected to reach USD 2.7 billion by 2024, at a CAGR of 13.3% during the forecast period.Reduction of low-frequency noise and emissions at ports, a growing number of cruise liners in the shipping industry, and

SCD JV Win $10bln NLNG Train7

Image: Nigerian LNG

The Nigerian Liquefied Natural Gas Company (NLNG) signed a “letter of intent” with SCD JV as preferred bidder to construct the $10bn NLNG Train 7 project.SCD JV  is a joint venture consortium comprising Saipem, Chiyoda and Daewoo."SCD JV is the preferred bidder for  the contract for the Engineering,

AIDAperla Receives Corvus Battery System

Photo: Corvus Energy

Carnival Corporation's Germany brand AIDA Cruises and Corvus Energy have signed a deal to retrofit the AIDAperla with a 10MW battery pack, the largest to date set to be featured on a cruise vessel."The order is for a 10MWh Energy Storage System (ESS) to be installed on board AIDAperla in 2020.

DNV GL Calls for Action to Meet Paris Climate Target

Pic: DNV GL

DNV GL’s Energy Transition Outlook indicates global temperatures rise by 2.4⁰C by end of century. Energy experts identify a combination of technology measures to curb global warming which includes: Boost solar power more than 10 times to 5 TW, wind power by 5 times to 3 TW and increase battery production for EVs 50-fold by 2030.

Fuel Flexibility is Key for Green Shipping

Pic: DNV GL

Fuel flexibility and technologies to bridge changing fuel usage have been identified in the Maritime Forecast to 2050 as essential strategies for both individual owners and the shipping industry to adapt to the energy transition and prepare for a low carbon future.DNV GL – Maritime has released

Mercantile & Maritime Hires ex-Trafigura Waters as Asia Head

Energy trader Mercantile & Maritime Group said on Thursday it was hiring Ben Waters, previously with Trafigura, as its head of Asia-Pacific trading."We increase our presence and range of capabilities in the region to include trading, storage and blending," MM's chief executive Murtaza Lakhani said.Singapore-headquartered

UK Govt Funds Low-Carbon Maritime Tech

Greening the maritime sector: the UK Government continues to invest in low-carbon maritime technologies. (Photo © Adobe Stock / Elnur)

he UK Government has granted £2.3 millon ($2.85 million) for the development of new maritime technology that will cut shipping emissions.The funding, part of the government’s clean maritime plan, was announced by the Department for Transport (DfT). Maritime Minister Nusrat Ghani has committed

OFS Sector Expected to Take a Hit

Graph: Rystad Energy

Lower oil prices will push the global oilfield services (OFS) sector into a recession in 2020 after three successive years of growth, according to Rystad Energy.In a new sector outlook update, Audun Martinsen, head of oilfield services research at Rystad Energy, forecasts a 4% decline in global oilfield

DNV GL Route Map for Energy Transition

Liv A. Hovem, CEO, DNV GL – Oil & Gas. Photo: DNV GL

Gas and variable renewables  must work together alongside greater uptake of carbon capture and storage (CCS) to secure a rapid energy transition, according to a new forecast of the energy transition by DNV GL.According to the report '2019 Energy Transition Outlook' published by the international

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