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Japan's LNG Investments Drive Faces Risk of Souring

Jul 02, 2020

Japan's banks and public agencies have funneled nearly $25 billion into liquefied natural gas (LNG) projects since 2017 but the investments may sour as prices plummet from the COVID-19 pandemic and as climate change risks rise, a new study shows.Spurred on by the government to boost energy security since the 2011 Fukushima disaster shut down the country's reactors, Japan's investment in LNG rivals that for coal…

Fred. Olsen Windcarrier Picks Jack-Up for 1600t Huisman Crane

Jul 03, 2020

Offshore wind turbine installation company Fred. Olsen Windcarrier back in March said it had struck a deal to equip one of its jack-up installation vessels with a 1600t crane for next-gen offshore wind turbines. While the company at the time…

MAN Compressors for Yinson's Brazil-bound FPSO

Jul 02, 2020

MAN Energy Solutions will deliver six compressor trains for Yinson's FPSO being built for deployment in Brazil.For the FPSO named Anna Nery, MAN Energy Solutions will deliver four RB-type centrifugal-compressor trains for gas production and export…

Australia: Chevron Completes Puma Energy Acquisition

Jul 01, 2020

Chevron's subsidiary Chevron Australia Downstream has completed the acquisition from Puma Energy Asia Pacific B.V. of all shares and equity interests of Puma Energy (Australia) Holdings Pty for the amount of AU$425 million (USD 294,7 million)…

Malaysia to Sue EU Over Palm Biofuel Restrictions

Jul 01, 2020

Malaysia, the world's second-largest palm oil producer, will take legal action against the European Union's restrictions on palm oil-based biofuels with the World Trade Organization (WTO), calling the policy a 'discriminatory action.'Plantation…

Is Asia’s Offshore Wind Sector Ready For Take-off?

Jul 01, 2020

With virtually unlimited technical potential, offshore wind could play a critical role in helping to decarbonize the region, Wood Mackenzie's  Asia Pacific Vice-Chair Gavin Thompson writes.Asia’s pathway to a low carbon future is challenging…

DNV GL: Oil Demand, CO2 Emissions Probably Peaked in 2019

Jul 01, 2020

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…

MHI Vestas to Source More Offshore Wind Turbine Parts in Taiwan

Jun 30, 2020

Offshore wind turbine maker MHI Vestas has signed a purchase agreement with local Taiwanese company, YGG, to source additional components for the upcoming production of V174 turbines to be installed offshore in Taiwan. The agreement covers rotor hubs…

Samsung Heavy, Bloom Energy Working on Fuel Cell-powered Ships

Jun 30, 2020

South Korean shipbuilding giant Samsung Heavy Industries (SHI) has signed an agreement with Bloom Energy, a provider of distributed power generation systems, to design and develop fuel cell-powered ships. The two companies will work together…

Shell to Write Down $22B in Wake of Coronavirus

Jun 30, 2020

Royal Dutch Shell said on Tuesday it would write off assets worth up to $22 billion after the coronavirus crisis knocked oil and gas demand and weakened the energy price outlook.The impairments follow the Anglo-Dutch company's decision to shift…

Japan's NTT to Build Renewables Business

Jun 29, 2020

Japan's Nippon Telegraph and Telephone (NTT) will develop a renewable energy business with its own electricity grid and is likely to invest over 1 trillion yen ($9.3 billion) by fiscal 2030, Nikkei reported on Monday.The move by the telecommunications…

BP to Sell Petrochemicals Business to Ineos for $5B

Jun 29, 2020

British oil major BP will sell its global petrochemicals business to Ineos for $5 billion, a transaction delivering BP's divestments target a year earlier than originally scheduled.Brian Gilvary, BP’s chief financial officer, said: “With today’s…

Transborders Energy, SBM Offshore in FLNG Pact

Jun 29, 2020

Australia's Transborders Energy, a company working to develop an FLNG solution for marginal field development, has signed a partnership agreement with the floating production solutions giant SBM Offshore.Perth-based Transborders said Sunday…

OWC Sets Up Office in S. Korea

Jun 26, 2020

OWC, formerly known as Offshore Wind Consultants, has set up an office in South Korea, a country with ambitious offshore wind plans. 'We continue our expansion into key emerging markets such as South Korea. We believe a local presence is central…

New Zealand Refiner to Shrink. May Turn into Fuel Import Terminal

Jun 25, 2020

Refining NZ said on Thursday it is considering shutting New Zealand's only oil refinery and turning it into a fuel import terminal in the long run, but first will reduce its operations to cut costs and breakeven into 2021.Refining NZ's Marsden…

Current News

Fred. Olsen Windcarrier Picks Jack-Up for 1600t Huisman Crane

Fred. Olsen Windcarrier Picks Jack-Up for 1600t Huisman Crane

Japan Identifies 10 Areas for Offshore Wind Projects

Japan Identifies 10 Areas for Offshore Wind Projects

Jadestone, Inpex in Arbitration over Offshore Block in Vietnam

Jadestone, Inpex in Arbitration over Offshore Block in Vietnam

Global Offshore Rig Count in June Falls to 208. Africa Suffers the Biggest Loss

Global Offshore Rig Count in June Falls to 208. Africa Suffers the Biggest Loss

Japan's LNG Investments Drive Faces Risk of Souring

Japan's LNG Investments Drive Faces Risk of Souring

Spring Oil Flood Causes Summer Queues in Chinese Ports

Spring Oil Flood Causes Summer Queues in Chinese Ports

MAN Compressors for Yinson's Brazil-bound FPSO

MAN Compressors for Yinson's Brazil-bound FPSO

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