Business & Finance
Shift in funding looms over oil & gas industry as COP27 approaches, says WoodMac
As GFANZ works to crystallise its climate threshold for financing, WoodMac wonders if COP27 could be a turning point for oil & gas funding.
Everfuel, Greenstat receive Enova funding for Hydrogen Hub Agder
Danish hydrogen fuel company Everfuel A/S and Norwegian energy company Greenstat ASA have been granted NOK 148 million ($14.9 million) from Enova to support the development of the Hydrogen Hub Agder.
QED Naval launches crowdfunding campaign
Edinburgh-based marine energy firm QED Naval has launched a crowdfunding campaign to complete the deployment of its Subhub tidal platform and Tocardo turbines at Yarmouth Tidal Test Centre.
NKT and MAATS ink service agreement for 140-meter cable-layer
NKT has signed a three-year service framework agreement with MAATS for the cable lay equipment on board cable-laying vessel (CLV) NKT Victoria. According to MAATS, NKT made a shrewd investment in the Service and Support package as it had been contracted on a number of significant and time-sensitive
Output from OPEC+ to go down in 2023 as sanctions take their toll on Russian volumes
The IEA forecasts that non-OPEC+ will spearhead global oil supply in 2023, while the output from OPEC+ may fall.
UK operator sees last rig in its fleet off to scrap yard
After completing the sale of a rig, which has been stacked for years, Awilco Drilling is left with no other drilling assets in its fleet.
SeaShuttle hydrogen-fuelled containership project wins Enova funding
SeaShuttle, the ambitious project to build two hydrogen-powered, remotely controlled and autonomous-ready containerships, has secured NOK 150 million (€15 million) in funding from Norwegian state enterprise Enova.
Electrification with renewable and conventional power sources could curb emissions up to 87 per cent, UK regulator reveals
The NSTA has found that electrification of oil & gas platforms with renewable and conventional power sources could curb emissions up to 87%.
Banking on renewable energy, Norway outlines roadmap to turn into ‘green industrial giant’
The Norwegian government has presented a roadmap for a green industrial boost, where renewable energy takes centre stage.
CETO wave energy device completes tank testing
Carnegie Clean Energy has completed the three-week tank testing campaign of its CETO wave energy device as part of the first phase of the EuropeWave Pre-Procurement Programme.
Belgian TSO takes up autonomous surface vehicle inspection (Video)
Belgian transmission system operator (TSO) Elia has for the first time used an autonomous, unmanned surface vehicle (USV) to survey its offshore assets. The USV named Tupan, owned and developed by Brazilian start-up Tidewise, inspected Elia’s subsea cables to the Modular Offshore Grid (MOG) in the B
Oil output on the decline as Norway records slightly higher gas production in May
Norway saw a small increase in gas production while its oil output dropped below NPD’s predications for the third month in a row.
Danish govt to hold co-ownership in future CO2 storage licenses under new political deal
The Danish government has signed a new political agreement with eight parties which implies that it will have a 20% co-ownership in future carbon storage licenses in the North Sea. Danish parties Venstre, Socialistisk Folkeparti, Radikale Venstre, Enhedslisten, Det Konservative Folkeparti, Dansk Fol
ESL Shipping receives $21M for electric hybrid vessels
Finnish shipping company ESL Shipping, part of Aspo, has signed a €20 million ($21 million) loan agreement with Nordic Investment Bank (NIB).