A slow recovery from the Covid-19 pandemic or a deeper slump could delay a complete rebound in the world’s energy demand to 2025, the International Energy Agency said on Tuesday.
Danish shipowner Maersk expects to take a restructuring charge of around $ 100 million in the third quarter of 2020 related to the redundancies of around 2,000 employees. The redundancies are part of the internal reorganization announced last month, mostly affecting the major’s Ocean and Logistics &
World oil demand will plateau in the late 2030s and by then begin to decline, the Organization of the Petroleum Exporting Countries (OPEC) said in its 2020 World Oil Outlook.
French oil and gas major Total has moved to transform itself into a broad energy company as part of its efforts to become a leader in the renewable energy sector and get to net-zero by 2050.
DHL Global Forwardin revealed it would be neutralizing the carbon emissions of all less-than-container load (LCL) ocean freight shipments from 1 January 2021.
Oil major Shell has confirmed plans to cut between 7,000 and 9,000 jobs in a push to save up to $2.5 billion by 2022.
Monaco-based ship owner and operator Scorpio Bulkers is selling one of its non-scrubber-fitted bulkers, representing a first step in the company’s recently unveiled strategy focused on the offshore wind sector.
After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, this year and 2021 had at least as much capacity lined up for final approval – instead, there’s a famine, Wood Mackenzie said.
Norway’s maritime industry group Wilhelmsen and Germany’s industrial and technology businesses conglomerate thyssenkrupp are establishing a 3D printing joint venture targeting the maritime industry.
DNV GL pointed to a relatively limited uptake of hydrogen as a ship fuel in the fourth edition of its Maritime Forecast to 2050 presented on Tuesday. The surprising assessment is a result of both the estimated price of the fuel and the investment costs for the engine and fuel systems. The forecast a
To adjust and transform to cleaner sources of energy, the world’s largest oil and gas firms could sell or swap oil and gas assets of more than $100 billion, Rystad said.
BP has been doing its part to unlock the value of technology and tap into its benefits. This has become especially noticeable during 2020 with plans to become a net-zero company by 2050.
If Turkey develops the giant Tuna-1 (Danube-1) gas discovery, it could potentially save the country up to $21 billion in import costs, Rystad Energy estimates.
Following its third price collapse in 12 years, the oil and gas industry may be facing a period of transformation. The industry managed to recover from the previous two downturns and continue with business as usual, but this time it seems the recovery might look a bit different from the ones before.
