When storms batter Scotland's Shetland Islands, as they frequently do, the force of the winds whipping through its streets and valleys leave you in no doubt that this is Britain's windiest place.Now islanders are looking to those fierce winds to take the place of the declining offshore oil and gas industry that transformed their economy from the 1970s.Local energy developer Angus Ward first studied the potential of wind power in the archipelago…
Chevron CEO Michael Wirth is facing a head-to-head match with Exxon Mobil with his $53 billion bid for Hess and its stake in oil hotspot Guyana, and could wind up trapped in a dispute between two of South America’s biggest energy rivals.On Wednesday…
Prime Ministers come and go. Energy Ministers are appointed and promptly booted out of the job as if they were never there. Net Zero roadmaps are published, tweaked, and then eventually shelved by the Government and opposition alike. But amidst the permacrisis of Westminster…
Orsted is expected to trim investment plans and cut dividends on Wednesday as it presents a new strategy but investors are worried that the Danish renewable energy firm may want to raise new capital to stick to its ambitious targets.Once a green investor darling…
The U.S. offshore wind industry reached an important milestone on January 2 when Vineyard Wind 1, the country’s first large scale project, supplied first power to the Massachusetts grid.“As the nation’s first utility-scale offshore wind farm this is a fairly momentous event…
The U.S. Maritime Administration (MARAD) has recently announced an amendment to the Federal Ship Financing Program, commonly referred to as Title XI. The amendments have aligned the program’s financial requirements and tests with common current federal credit and maritime lending best practices…
More than 100 countries at the COP28 climate summit in Dubai have agreed to triple renewable energy capacity by 2030 - one of the least controversial commitments floated at the conference.But they have given little detail on how they can make an industry running flat out go that much faster…
Renewable energy is already high on the agenda at the COP28 climate summit, with 118 countries, including the UAE, Brazil, Japan and the EU, pledging last weekend to triple the world’s renewable energy capacity by 2030.But it’s not simply about signing up to the ambition…
Investors are increasingly pessimistic about the outlook for crude oil prices as doubts grow OPEC+ will cut production enough to offset rising non-OPEC output and a deteriorating economic outlook.But many professional money managers are more optimistic about refined fuel prices…
One year on from explosions that damaged the Nord Stream gas pipelines under the Baltic sea between Russia and Germany, the question of who was behind them is unresolved.On Sept. 26, 2022, Swedish seismologists registered several blasts, some…
The North Sea jack-up rig market has been out of the limelight lately, overshadowed by increased contracting activity in the semi-submersible rig market, resulting in the departure of some of these units from the region. As the North Sea outlook remains soft…
Britain's latest subsidy auction for new renewable energy projects failed to attract bidders from the offshore wind industry, raising fears among developers and environmental groups that the country may struggle to meet its climate goals.Over the last two decades…
The low interest in the first-ever auction of offshore wind farm development rights in the Gulf of Mexico marks a potentially serious setback for U.S. President Joe Biden’s green energy agenda, and the U.S. offshore wind sector in general.U…
The UK government on Monday reaffirmed its support for projects to capture and store carbon dioxide emissions as part of its efforts to reach net zero goals and said two more projects would be able to begin negotiations to take them forward…
Energy majors BP and TotalEnergies have won a 7 gigawatt (GW) offshore wind site auction in Germany worth a record 12.6 billion euros ($14.1 billion), allowing them entry to the central European market without a partnership.Previous auctions have been won by consortia…
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