Ten Things to Consider When Choosing Your Digital Twin Provider
Kongsberg Digital’s Brian Sidle identifies the top ten things to consider when choosing a provider for cloud-based digital twins in the energy sector.The energy sector’s heavy asset operators stand to benefit greatly from a cloud-based digital twin, but successful digital transformation initiatives can be elusive – especially when it comes to sustaining long-term performance improvements. Whether the digital twin journey is driven by the CTO, CFO, or others within an organization, the right partner…
New Cloud Platform for Subsea Survey Data
Subsea geo-information specialist TrueOcean GmbH launched a new digital platfom designed tor accelerate the transformation of marine data acquired by underwater sensors, including multibeam echosounders and related systems from any manufacturer, into actionable, easily shared information and insight via the cloud.In development since the Kiel, Germany headquartered company was founded in 2019, TrueOcean’s smart marine data platform (MDP) arrives at a critical time for the wind energy, subsea survey and offshore contracting sectors…
Oil Drillers, Bitcoin Miners Bond over Natural Gas
On U.S. oil patches stretching along the Rockies and Great Plains, trailers hitched to trucks back up toward well pads to capture natural gas and convert it on the spot into electricity.The trailers - carrying pipes, generators and computers - are called “mining rigs.” But their owners aren’t there to drill for oil. They are using stray natural gas unwanted by oil companies to power their search for another treasure: cryptocurrencies like Bitcoin.Cryptocurrencies are virtual coins exchanged without middlemen, such as central banks, to purchase goods and services.
SGRE Completes Senvion Purchase
The renewable energy major Siemens Gamesa Renewable Energy (SGRE) has finalized the acquisition of Senvion's European onshore service assets and intellectual property (IP).The German-Spanish manufacturer said in a press release that it has a “robust integration plan” for the assets, which will add 9GW of machines in 13 countries to its service book, bringing the total to 69GW.The addition of the Senvion assets marks an important step in the company’s growth strategy, part of the company’s L3AD2020 strategic program…
SSEN Replaces Subsea Cables
UK-based Scottish and Southern Electricity Networks (SSEN) continues to make good progress with its project to replace of one of the two subsea electricity distribution cables that connect Orkney, archipelago off the northeastern coast, to mainland Scotland, with the completion of a marine survey of the proposed route.The marine survey was carried out by specialist contractor, Global, during September and October and was accompanied by a series of open-door events in Orkney and Caithness to…
Bloom Energy, Samsung to Design Electric Ships
California-based Bloom Energy, the provider of stationary fuel cells, has announced a collaboration with South Korean shipbuilder Samsung Heavy Industries (SHI), to design and develop ships powered by Bloom Energy’s solid oxide fuel cell technology.SHI aims to be the first shipbuilder to deliver a large cargo ship for ocean operation powered by fuel cells running on natural gas. Such an innovation will play a key role in helping the company exceed the 50 percent emissions reduction target, compared to 2008 levels…
Equinor Sells Natural Gas Worth USD26bln in 2018
Norwegian energy company Equinor has announced its 2018 sales of natural gas totalled $26bn, an increase of 29% from 2017.Equinor sold a total of 100 billion cubic metres (bcm) of gas worldwide in 2018. The company is the second-largest gas supplier to Europe, as well as the largest producer of natural gas on the Norwegian Continental Shelf (NCS)."As more countries prepare for the energy transition, Equinor sees strong market opportunities for gas and expects global demand to grow by around 10% towards 2030…
Natural Gas Contributes to Low Carbon Future
Equinor sold natural gas for around $26 billion in total in 2018, an increase of 29 percent from 2017. As more countries prepare for the energy transition, Equinor sees strong market opportunities for gas and expects global demand to grow by around 10% towards 2030.Equinor is the largest producer of natural gas on the Norwegian continental shelf and the second-largest gas supplier to Europe. The company also has a significant gas portfolio outside Norway. At its Gas Seminar in London, Equinor outlines its gas position as well as its long-term market outlook.“Global energy markets are changing.
MethaShip Project Projects Methanol as Future Fuel
The Methanol Institute has welcomed the findings of the MethaShip research project which has concluded that renewable Methanol offers a long term solution for the industry’s ambitious carbon emission reduction strategy.The MethaShip partners found that Methanol can offer a dramatic improvement in emissions reduction across multiple ship types once the IMO has established the statutory framework conditions necessary for an industry-wide reduction of CO2 emissions.“The whole shipping sector is facing major challenges with ever stricter emission regulations for ships…
Australia in Talks With Gas Majors to Avert Local Shortage
Australian PM in crisis talks with gas majors; Australia faces gas shortage despite exports soaring. Australia's top gas producers, led by ExxonMobil Corp and Royal Dutch Shell, agreed to boost supply to the country's domestic market to help avert an energy shortage following crisis talks with Prime Minister Malcolm Turnbull. Australia is on track to become the world's largest exporter of liquified natural gas (LNG), yet its energy market operator has warned of a domestic gas crunch from 2019 that could trigger industry supply cuts and broad power outages. "We are a massive gas exporter.
Ukraine Faces Energy Crisis As Blockade Cuts Coal Supply
Ukrainian authorities vowed on Thursday to restore coal supply from the separatist-held Donbass and warned that a blockade by activists could deprive millions of heating and electricity, harm the steel industry and cost the country some $2 billion. Ukrainian President Petro Poroshenko said the blocking of a railway link in the east by opposition lawmakers and army veterans who fought against separatist factions was a "destabilising factor". The European Union and the United States called for action to prevent "a major energy crisis".
Egypt Nearing Deal with Iraq in Search for Crude Oil Imports
Egypt is nearing a deal to import crude oil from Iraq and is looking to other countries to help secure supply, Egyptian General Petroleum Corporation's chief Tarek al-Hadidi said. Cairo's search for additional crude comes after Saudi Arabia's state oil firm Saudi Aramco halted shipments of oil products to Egypt last year. The $23 billion Saudi aid deal had included 700,000 tonnes of refined oil products per month for five years. Aramco has never provided a reason for why the deal was halted. Egypt has turned to the spot market in recent months to make up for the missing products.
Four Years after Rescue, U.S. Refinery in Crisis
A deal struck in 2012 to save the U.S. East Coast's oldest and largest refinery seemed to have all of the right elements for success: private investors, big oil and taxpayer funding, and the promise of a private-public partnership that would help job growth and consumers. Four years after private equity firm Carlyle Group and a partner purchased Philadelphia Energy Solutions, the refinery faces another existential crisis. A sharp decline in the price of oil sourced in North Dakota has hammered profits across the sector with layoffs mounting. Capital projects are now on ice after an industry-wide earnings slump.
Polarcus Halts Repayments as it Seeks Restructuring
Polarcus Limited decided to formally address its long term financing structure with the aim of restructuring the Company's balance sheet and halt all payments of interest and amortization to all of its finance providers. In line with the Company's "2015 Agenda" earlier communicated, the Company has over the last twelve months taken a number of measures to improve its financial situation. The sales functions have been restructured and the Company's cost base has been significantly reduced. These…
Can Middle East Oil Pricing be Fixed?
Nobody is happy with the current state of oil markets in Asia, apart maybe from some Chinese, but they probably shouldn't be that pleased either. The reasons are multi-faceted but at the heart is the breakdown and dislocation of the oil pricing mechanism for the bulk of Middle East crude that is shipped to Asian refiners. The current system has worked well for years, but the rise of China to becoming the world's biggest crude buyer has also led to the increasing influence of the trading arms of its giant state-controlled oil companies PetroChina and Sinopec.
Brazil's Braskem signs Naphtha Contract with Petrobras
Brazilian petrochemical firm Braskem SA said on Friday it signed a naphtha contract with state-run oil firm Petrobras, valid until the end of October. The contract continues the terms of a previous deal, but Braskem said in a statement that it continued to work with Petroleo Brasileiro SA< PETR4.SA>, as the company is formally known, to reach a long term solution regarding the supply of naphtha. (Reporting by Stephen Eisenhammer)
RWE Looks to Build on Gazprom Deal at Contract Talks
RWE will look to build on its current deal with Russian gas exporter Gazprom when the two sides sit down at mid-year for contract negotiations, the German utility said on Tuesday. "Our goal is a long-term solution that guarantees that a contract beyond the expiry of current agreements will no longer burden our results," RWE said. "It would be wise to base future talks with Gazprom on the existing deal," Chief Executive Peter Terium said in reply to questions. A sharp fall in oil prices since mid-2014 should strengthen RWE's hand in negotiating index-linked gas contracts.
Statoil CEO: Oil & Gas Investments Needed Now
"The scale of the climate challenge requires us not only to ask how we can do more, but how we can achieve the most. Climate change doesn’t stop at borders – and neither should our solutions,” says Statoil CEO Eldar Sætre at the Statoil Autumn Conference. “We need a global approach that stimulates technology innovation,” Sætre continues. In the 2014 World Energy Outlook the International Energy Agency (IEA) presents “New Policies” as the main scenario. In this scenario global energy demand rises by 37% in the period to 2040.
New Phase of Antipiracy Project in Somalia
The Joint Shipping Initiative - made up of Shell, BP, Maersk, Stena and Japanese shipping companies NYK, MOL and "K" Line - has announced it has given$1.5 million of additional funds to a United Nations Development Program (UNDP) project to improve the lives of Somalis and security for seafarers. The UNDP's "Alternative Livelihoods to Piracy in Puntland and Central Regions ofSomalia" project aims to reduce piracy off the coast of east Africa through local economic development, job creation, training, and business development grants on-shore in one of the world's poorest countries.
Oil Above $105 After Islamic State Advance in Iraq
Brent crude oil rose above $105 a barrel on Thursday as the security situation deteriorated in northern Iraq and Islamist militants made gains against Kurdish forces, advancing closer to the autonomous region's oilfields. Two car bombs killed nine people in the Kurdish-held Iraqi oil city of Kirkuk, police and medical sources said, after an offensive by Islamic State fighters that has routed Kurdish forces. Traders said production in Iraq's northern oilfields was increasingly at risk as the fighting escalated. "The situation there is certainly not getting better at the moment.
