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Photo of Nova Innovation's tidal turbine 'Eunice' before installation (Courtesy of Nova Innovation)

Market Outlooks

OEE 2020 statistics: Ocean energy proves resilience despite a challenging year

Ocean Energy Europe (OEE) has released a statistics report for ocean energy sector in 2020 which shows that in spite of the inevitable delays and restrictions caused by Covid-19, ocean energy devices still hit the water, significant investments deals were signed, and new manufacturing facilities lau

about 5 years ago

Market Outlooks

Rumours of $100 oil return as crude recovers from Covid grip

While the oil price collapse is still fresh in our minds, rumours are starting to emerge that by the end of next year prices could once again top $100 a barrel.

about 5 years ago

Market Outlooks

Transocean bleeds red ink in fourth quarter

Transocean sank to a net loss in the last quarter of 2020 compared to the prior quarter but managed to reduce its losses in the y-o-y comparison.

about 5 years ago

Market Outlooks

Fugro targets more offshore wind after red numbers in 2020

Dutch subsea and survey specialist Fugro has seen its loss almost doubled in 2020 with revenues down some 12 per cent due to the impact of Covid-19 and the downturn in oil and gas. The company recognised net loss of €74 million in 2020, against net loss of €39.6 million in 2019. Revenue declined in

about 5 years ago

Offshore wind workers close up with an offshore wind turbine seen farther offshore

Market Outlooks

Rystad Energy: Offshore wind jobs to triple by 2030

Workforce demand in offshore wind will rise dramatically over the next decade, with the number of jobs in this sector reaching around 589,000 in 2025, while 2030 could see 868,000 full-time offshore wind jobs. Currently, it is estimated that around 297,000 people are working in the sector. This is a

about 5 years ago

Market Outlooks

Marine seismic industry exploring energy transition arena

As the world continues its race to a net zero future, identifying potential carbon and hydrogen storage sites as well as deep-sea mineral deposits will be vital to meet emissions abatement targets for 2050 and beyond. Existing and future marine seismic data can massively improve assessments of the s

about 5 years ago

The Shell-operated Appomattox deep-water asset.

Market Outlooks

Big oil output to peak lower and earlier than expected, Rystad says

The world’s oil and gas industry’s production will peak lower and earlier than expected before the 2020 market crisis, a Rystad Energy analysis shows.

about 5 years ago

Gina Krog field off Norway; Credit: Ole Jørgen Bratland/Equinor SSB Norway

Market Outlooks

Norway: Oil firms increase 2021 spending plans. Decline set for 2022

Oil and gas companies in Norway have increased their 2021 investment plans in recent months, but still plan to spend less than last year and to reduce spending in 2022, the national statistics office (SSB) survey said.

about 5 years ago

Market Outlooks

NPD: A lot of oil and gas left on Norwegian shelf

The Norwegian Petroleum Directorate (NPD) has revealed that the Norwegian continental shelf (NCS) holds another 8 billion standard cubic metres of oil equivalent (Sm3 o.e.).

about 5 years ago

SEA-LNG: LNG as a pathway to decarbonisation

Market Outlooks

SEA-LNG: LNG as a secure way to decarbonisation

The multi-sector industry coalition SEA-LNG states that LNG can cut greenhouse gas emissions now while also securing the future.

about 5 years ago

Market Outlooks

LNG-powered Containerships Borealis joins CMA CGM

Containerships, an Intra-European carrier and a subsidiary of the CMA CGM Group, recently took delivery of its fifth new containership powered by liquefied natural gas (LNG), the Containerships Borealis.

about 5 years ago

Floating Solar Energy Hybrid Project illustration (Courtesy of The Marine Institute)

Market Outlooks

Irish company designs floating solar platform for green hydrogen production

SolarMarine Energy, an Irish start-up based in Co Mayo, has designed an innovative floating hybrid renewable energy system which could offer sustainable low carbon solution for Irish coastal communities.

about 5 years ago

Market Outlooks

Ardmore to move toward more non-fossil fuel cargoes as part of the energy transition plan

The global energy transition will have a profound impact on the shipping industry, including product tanker and chemical tanker segments, Anthony Gurnee, Chief Executive Officer of Ardmore Shipping, believes. “While this will unfold over years, the impact has already been felt through anticipated re

about 5 years ago

Market Outlooks

NRGI: State oil firms could waste $400 billion as energy shift accelerates

State-owned oil companies could waste around $400 billion on investments in the next decade on new oil projects that will struggle to turn a profit as the world shifts away from fossil fuels, NRGI said in its latest research.

about 5 years ago