China's MingYang has this week launched the MySE11-203, dubbed the world's biggest hybrid drive wind turbine, of the nameplate capacity of 11 MW.Per MingYang, the turbine features a rotor diameter of 203 meters and has a 31% higher annual energy production than its predecessor…
The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday but warned that the spread of COVID-19 posed a risk to the outlook.The Paris-based IEA raised its forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last month…
Gulf Energy Development Pcl said on Tuesday it acquired a 50% stake in a German offshore wind farm for about 558 million euros ($631.10 million) in the latest overseas investment by Thailand's second-largest power producer.Gulf Energy said acquiring…
Global oil demand and carbon dioxide emissions probably peaked in 2019 as the COVID-19 pandemic will have a lasting impact on both, energy consultancy DNV GL said on Wednesday.The Norway-based consultancy, which advises both petroleum and renewable energy companies on risk management and technology…
Occidental Petroleum Corp will write down the value of its oil and gas properties by up to $9 billion this quarter and restructure some debts to avoid a possible default, the company said on Thursday.The U.S. oil producer is trying to shed nearly…
Spanish renewable energy giant Iberdrola has struck a deal giving it an option to acquire stakes in up to eight offshore wind projects in Sweden.Iberdrola has signed the agreement with the renewables company Svea Vind Offshore AB (SVO) for the…
The Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result, reducing the world’s recoverable oil by around 282 billion barrels, Rystad Energy said in its annual global energy outlook released this week…
BP will write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts, betting the COVID-19 crisis will cast a lasting chill on energy demand and accelerate a shift away from fossil fuels…
Denmark and Vietnam are working on finding ways to further boost Vietnam's offshore wind development, which according to the Danish Energy Agency, has a potential of 160 GW offshore wind. As part of the effort, the Danish Energy Agency and the…
U.S. Energy Information Administration (EIA) on Tuesday noted the Brent oil price remained low despite the recent OPEC+ deal, but added it expected the prices to average $48 a barrel next year. It also warned that the forecast was subject to…
Indonesia's upstream oil and gas regulator SKK Migas has cut its full-year production outlook for the country, its chairman Dwi Soetjipto told reporters on Thursday, after reporting a drop in oil and gas output in the first quarter.The coronavirus…
Australia will need to import liquefied natural gas (LNG) by 2024 for its southern states to avoid shortfalls unless more gas fields are developed locally and pipelines are expanded, the country's energy market operator said on Friday.Despite…
Companies in the oil and gas sector are optimistic about their ability to achieve their financial targets for 2020, according to a survey from standards agency DNV GL.While the sector’s growth hangs in the balance for 2020, oil and gas leaders are optimistic that they will weather the storm…
Denmark-based energy giant successfully issued green hybrid capital securities for €600m ($660m) to refinance existing securities issued in 2015.The latest issue will have a maturity in 3019 and first call option after eight years, the Danish energy company said…
Brazil continues to drive global floating production storage and offloading vessels (FPSOs) deployment with 21 planned and announced FPSOs during the period 2019 to 2025, according to GlobalData.Brazil is expected to deploy a total of 11 planned and ten announced FPSOs by 2025…
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