Mexican tycoon Slim targets two of Pemex’s key fields to gain clout within the energy sector
Sources familiar with the matter say that the Mexican state energy company Pemex has been in contact with Carlos Slim, and the billionaire could be asked to help fund two of the most promising crude oil fields and natural gas deposits in the country. These negotiations, which were not previously reported, show Slim's increasing influence in Mexico's energy sector.
Shell's scenarios predict significant LNG growth within the next few years
Shell published scenarios on Wednesday that showed a rapid rise in global demand for liquefied gas. Gas will probably have a gradual increase, and oil could peak at the start of the next decade. The British energy company created three scenarios to model energy security on a long-term basis, but said that these do not reflect their strategy or business plans.
Shell's scenarios predict significant LNG growth within the next few years
Shell published scenarios on Wednesday that showed a rapid rise in global demand for liquefied gas. Gas will probably have a gradual increase, and oil could peak at the start of the next decade. The British energy company created three scenarios to model energy security on a long-term basis, but said that these do not reflect their strategy or business plans.
Wall Street Journal – Feb 10,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Activist investor Elliott Investment Management owns a stake in BP, the world's largest oil company. Elliott Investment Management will demand radical changes to improve BP's performance.
Biden bans offshore oil and gas drilling before Trump's term
The U.S. president Joe Biden has announced that he will ban all new offshore oil and natural gas development along the majority of U.S. coasts. This is a decision which President-elect Donald Trump who has pledged to increase domestic energy production may find hard to reverse. Biden, according to the White House on Monday…
Biden bans offshore oil and gas drilling before Trump's term
The U.S. president Joe Biden has announced that he will ban all new offshore oil and natural gas development along the majority of U.S. coasts. This is a decision which President-elect Donald Trump who has pledged to increase domestic energy production may find hard to reverse. Biden, according to the White House on Monday…
Deep sea oil drilling drillers are now subject to new safety regulations in the US
The Bureau of Safety and Environmental Enforcement, or BSEE, released new rules on Tuesday for U.S. off-shore drillers. This is because breakthrough technology allows them to operate in extreme subsea conditions and unlock untapped oil reserves worth billions of dollars. BSEE final rule was issued after Chevron, in August, started production on its Anchor asset.
Prices for gas in Europe are rising amid geopolitical concerns and a weaker wind output
Dutch and British wholesale gas prices increased on Thursday morning, as the market awaited any possible escalation in the Middle East conflict and amid an increase in demand for gas due to weaker winds speeds. By 0846 GMT the benchmark front-month contract for the Dutch TTF hub had risen 0.90 euros to 42.20 euros (MWh) or $13.12/mmBtu.
Equities, commodities climb after China announces stimulus
After China announced stimulus measures for its economy, a widely-followed global stock index reached a new record high. Copper prices also hit their highest level in 10 week on Tuesday. Mining stocks drove the Dow and S&P 500 to record-breaking closing highs. The Chinese yuan reached a 16-month-high against the U.S.
Sugar cane fields are ravaged by wildfires in Brazil's southeast
On Saturday, wildfires spread through sugarcane fields of northern Sao Paulo State. The smoke clouds that accompanied the fires covered the nearby towns to such an extent that officials banned outdoor sports. Due to a ban, the Brazilian Championship soccer match in Ribeirao Preto was cancelled. This city is located in the westernmost region of Sao Paulo.
Analysts say that new drilling technology could bring billions of barrels worth of oil within reach.
Analysts said that a breakthrough in oil production which producers claim can safely tap fields with ultra-high pressure could bring up to 5 billion barrels previously unaccessible crude into production. Chevron announced on Monday that it had successfully pumped the first oil out of a field with a pressure of 20,000 pounds per sq.
Solar, Wind Uptake to Reach 5.4 TWac from 2024 to 2033, Says Wood Mackenzie
Global solar deployment to add 3.8 TWac of new project capacity by 2033 compared to 1.6 TW of wind power, while 640% growth is forecast for energy storageFrom 2024 to 2033, developers will bring more than 5.4 terawatts (TWac) of new solar and wind capacity online, increasing the cumulative global total to 8 TWac…
Protecting Offshore Energy Sources via USV
When most people discuss energy sources such as fossil fuel and green energy, it is from an “either-or” perspective. Some favor the former while others advocate for the latter. However, what is often lost in the arguments on both sides is that regardless of the type of energy being extracted or generated, those platforms that are offshore…
Nova Innovation Double Size of Offshore Tidal Power Array
Edinburgh-based tidal energy company Nova Innovation has achieved another world-first by doubling the size of its Shetland Tidal Array. In 2016, the array of three underwater tidal turbines was the first of its kind and has been powering homes and businesses in Shetland ever since. A fourth turbine (Eunice) was added in 2020.
VIDEO: Watch the Armach Robotics Hull Service Robot in Action
Armach Robotics, Inc. (Armach), recently passed a critical milestone during a trial of its Hull Service Robot in full over-the-horizon (OTH) mode.At the end of 2022, Armach’s hull service robot (HSR), in the water in Norfolk, VA, was monitored and controlled by staff at Armach’s command center in Plymouth, MA, using a 4G modem providing over-the-air connectivity.
2023 Outlook: The Offshore Service Vessel Market
The market for offshore support vessels has been through a rather rough few years since offshore exploration and production activity took a nose-dive in 2015 following the oil price crash the year before.The newbuild order boom that came with the ever-greener pastures imagined in the industry ensured that not…
Stepping on the Gas: Rochester Researchers Team to tackle Methane Emissions
With global temperatures rising, oceans warming and ice caps melting, carbon dioxide attracts the bulk of the blame throughout media, public discourse and academia. All too many—save some scientists and researchers—neglect methane, the second biggest greenhouse gas that’s influenced by human activity. Often associated with livestock production and ruminant flatulence…
Floating Offshore Wind: Attention Turns Subsea for Power Transport
From being an ugly duckling, floating offshore wind is now the Cinderella of the offshore renewables world. Attention is now being paid to floating and even subsea substation concepts to help bring this power to shore. Over the past year, expectations around the growth in the floating offshore wind development have grown, significantly.
Inside the Red-Hot Offshore Wind Energy Market
As the traditional offshore oil and gas markets continue to struggle, the renewable offshore wind market is hot and getting hotter.As the cumulative maritime, offshore, port and logistics marketplace gears up for offshore wind energy on a huge scale, World Energy Reports (WER), in its report “2021 The Year When Offshore Wind Takes Off in the United States…
Innovative Tidal Power Project Proceeds in the Scottish Sea
SKF is participating in a tidal power project off the Orkney Islands.Orbital Marine Power, Scottish-based developers of the world’s leading floating tidal turbine technology, has now launched its first commercial 2MW unit, the Orbital O2, which will soon be installed at European Marine Energy Center (EMEC),…
