Out of the 28 financial institutions reporting their emissions data in the third edition of the Poseidon Principles Annual Disclosure Report 2022, seven banks are aligned with the IMO’s ambition of halving shipping’s GHG emissions by 2050. The Poseidon Principles are a global framework for assessing
Petronas has entered into a heads of agreement (HOA) with JX Nippon for a cluster of fields located offshore Peninsular Malaysia.
Malaysian oil and gas company Petronas has teamed up with Italian energy company Eni and Japan’s biotechnology firm Euglena to explore an opportunity for biorefinery development in Malaysia. On 14 December, the three companies announced their intention to jointly study the possibility of developing
Perunding Ranhill Worley has won a deal for a platform, which will be deployed at Shell’s gas project off Malaysia.
Countries seem to be prepared to phase out shipping’s emissions by 2050, based on the first rounds of technical talks at the UN’s maritime regulator International Maritime Organization (IMO). Furthermore, support appears to be building for the IMO to also adopt an ambitious 2030 interim target for c
The maritime industry must take immediate collective action on an unprecedented scale to bring the decarbonization of the industry closer to the Paris 1.5°C trajectory, according to Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping. International and domestic shipping uses approximately 12.6 EJ
Unions representing seafarers and maritime employers have signed a new memorandum of understanding (MOU) to take forward the ‘spirit of cooperation’ that marked the shipping industry’s joint efforts throughout the pandemic. The MOU’s signatories are the International Transport Workers’ Federation (I
Members of the OCEAN Alliance, CMA CGM, COSCO Shipping Lines, OOCL and Evergreen have signed the Ocean Alliance Day 7 Product, which will launch in January 2023 with 40 services and an annual capacity of 22.4 million TEUs. It has been announced that 26 dual-fuel, LNG-powered CMA CGM ships would be a
Petronas Carigali, a subsidiary of Malaysia’s Petronas, has made a new oil and gas discovery in Block SK 306, offshore Malaysia.
The International Association of Dry Cargo Shipowners (INTERCARGO) has joined the critics of the Carbon Intensity Indicator (CII) framework voicing opposition to its use as a benchmark for medium-term measures as part of the IMO’s revised GHG Strategy. INTERCARGO said that its members expressed thei
Valeura Energy is extending its portfolio offshore Thailand, after entering into a sale and purchase agreement (SPA) with Mubadala Petroleum.
While tackling the energy trilemma, BP has been working on multiple projects and three of these are on track to start up next year.
