OPEC cuts oil demand forecasts for 2024 and 2025
OPEC reduced its estimates for the growth of oil demand this year and in 2019. The producer group has now revised their forecasts downward five times in a row. The weakened outlook shows the challenges facing OPEC+ which includes the Organization of Petroleum Exporting Countries (OPEC) and its allies, such as Russia.
Floating Production – A Growing Segment in Transition
The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis, click hereThe established floating production segment is forecast to experience continued growth through this decade…
Intelatus: The long-tenured, New Name in Market Intel & Planning
Intelatus Global Partners is a new name in energy, marine and industrial market analysis and strategic planning, a ‘new name’ with nearly 50 years of experience and proven results.Founded by the merger of International Maritime Associates (IMA) and World Energy Reports (WER), Intelatus is a firm of business…
Deal Struck to Deliver Maritime Biofuel in Fujairah
Uniper Energy DMCC (UED) and Neutral Fuels will collaborate to provide maritime biofuel in Fujairah, UAE.The companies will blend UED’s VLSFO and Neutral Fuels biofuel, creating a maritime fuel that meets IMO standard under their ISO8217:2010 RMG380 specification, cutting emissions of carbon dioxide.“The collaboration is aimed to address climate protection…
Tullow to Axe a Third of Its Workforce
Tullow Oil plans to cut a third of its staff to slash its administration costs by a fifth, or around $20 million, a source with direct knowledge of the matter said, after weak output in Ghana, delays in East Africa and lower-than-hoped-for oil quality in Guyana.The move would shrink Tullow, which industry…
Global Wind Capacity to Reach 626 GW
The global wind power industry is expected to install more than 626,800 MW of new capacity over the next decade, said a report.According to a report from Navigant Research, this new capacity represents a market worth more than $92 billion in 2019 and more than $1 trillion over the forecast decade.According to the report…
Bachmann, Stjernfeldt Join EVPE Board
EV Private Equity (EVPE) has appointed two new Advisory Board members, Bettina Bachmann and Carl Stjernfeldt, who bring decades of experience and venture capital knowledge to the firm.Bachmann spent 35 years at Shell, latterly as Vice President of Subsurface & Wells Software and now sits on several boards in nonexecutive roles…
Small Scale FSRU: Think Smarter Not Bigger
The global search for lower carbon forms of energy and demand for cost-effective ways to serve power demand in emerging markets and remote locations is driving interest in floating storage and regasification units (FSRU).FSRUs are a faster and more flexible way to import natural gas to power-constrained places…
Epic Gas Bullish on LPG Carriers Market
Global seaborne liquefied petroleum gas (LPG) volume is expected to grow by over 6% in 2019 and surpass 100 million tonnes for the first time.Singapore based provider of pressurised LPG vessels, Epic Gas said that it is well positioned to benefit from the improving fundamentals of the LPG shipping market.For the fourth quarter of 2018…
Offshore Mooring to Reach $1.1B by 2021
The global offshore mooring system market stood at US$0.93 bn in 2014 and is predicted to reach US$1.1 bn by 2021.It is predicted to expand at a CAGR of 3.60% from 2015 to 2021, revealed a new Transparency Market Research report.According to the report, the market for offshore mooring systems is propelled…
Record LNG Capacity to Get Green Light in 2019
A record amount of liquefied natural gas (LNG) production is expected to get the green light in 2019 amid strong global demand, especially from China, analysts said.A final investment decision (FID) could be taken on more than 60 million tonnes per annum of LNG capacity this year, well above the previous…
Neptune Energy Names Estensen Managing Director for Norway
Neptune Energy has appointed Odin Estensen as Managing Director of its Norwegian business, based in Stavanger.Estensen joins Neptune Energy from A/S Norske Shell, where he is currently the Norway Operated Asset Manager.With more than 28 years’ experience in the oil and gas sector, Estensen started his career with Schlumberger before joining Shell in 1990…
Build It and They Will Buy: The New World of LNG Canada
The first major liquefied natural gas (LNG) project to be approved globally in five years will be built in Canada, but its underlying philosophy appears to be more closely allied to the Australian concept of "she'll be right, mate."The LNG Canada project was given the green light on Tuesday by Royal Dutch Shell…
DNV GL Completes Due Diligence of World’s Largest Offshore Wind Farm
DNV GL has successfully completed a lenders’ technical due diligence on Ørsted’s Hornsea Project One, the world’s largest offshore wind farm with a total capacity of 1.2 GW.The project, which is currently under construction, consists of 174 7 MW Siemens Gamesa wind turbines and is located 100 km offshore, making it the furthest offshore wind farm in the UK.
DNV GL Pact with WeatherTech on Wind Turbines
DNV GL, the world’s largest resource of independent energy experts and certification body, today announced that it has joined forces with Swedish atmospheric science experts, WeatherTech.The combined expertise of both companies will enable the development of the most advanced icing model for wind turbines available on the market…
DNV GL Provides Tech Support for 3 Norwegian Wind Farms
DNV GL, the world’s largest resource of independent energy experts and certification body, today announced that the company’s technical expertise was an important part of the due diligence of the Bjerkreim cluster, a 294-megawatt group of wind farms in Norway.The German asset manager for renewable energy…
Tullow to Pay Seadrill $254 mln Over Ghana Dispute
A London judge ordered Tullow Oil to pay rig owner Seadrill around $254 million saying Tullow was wrong to end a rig contract in Ghana on grounds of force majeure over a maritime dispute, Tullow said on Tuesday.Tullow cancelled the contract for Seadrill's West Leo rig in December 2016 after Ghana set a drilling…
DNV GL Completes Due Diligence of Dutch Windpark Spui
DNV GL, the world’s largest resource of independent energy experts and certification body, has successfully completed comprehensive due diligence of the Dutch Windpark Spui, for a group of lenders who are providing the debt financing for the project. The power generated at Windpark Spui, which will supply renewable electricity to more than 24…
Expected LNG Surplus Evaporates, New Projects Looming
Liquefied natural gas (LNG) producers around the globe are once again considering new investments as expectations of a glut in supply wither away in the face of strong, China-led demand growth in Asia. Given it takes several years to go from a Final Investment Decision (FID) to producing cargoes of the super-chilled fuel…
DNV GL Advises on Acquisition of UK's Wind Farm
DNV GL secured a leading role as technical advisor to GVO Wind Ltd and Bluemerang Capital Ltd, supporting the sale of an 80% stake of the 26.1 MW Ventus portfolio of wind projects. Ventus is the UK’s largest portfolio of feed-in-tariff wind turbines, comprising 53 operational projects located across the UK.
