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Johan Sverdrup; Credit: Arne Reidar Mortensen/Equinor

Transition

Oil & gas production on the rise but Equinor’s profit plummets as energy prices go down

Equinor’s net profit in 1Q 2024 has dropped by 46% compared to the figure recorded in 1Q 2023 amid a downturn in oil and gas prices.

about 2 years ago

Transition

CMA CGM and Bpifrance launch €200M fund to decarbonize French maritime sector

France-based shipping major CMA CGM and public sector investment bank Bpifrance have launched a €200 million fund dedicated to accelerating the energy transition in the French maritime industry.

about 2 years ago

EU flag; Courtesy of the European Commission; Credit: Mauro Bottaro

Transition

EU takes another step toward the exit out of ‘fossil dinosaur treaty’ to safeguard green aspirations

The EU is one step closer to pulling out of the Energy Charter Treaty (ECT), as there is no end in sight for the stalemate over revamping its terms.

about 2 years ago

Subsea7 has won a “sizeable” contract for subsea infrastructure in the U.S. Gulf of Mexico, described as one worth between $50 and $150 million.

Transition

Subsea7’s backlog remains ‘robust’ with high tendering in subsea and offshore wind

Subsea7 has reported a “robust” backlog of $10.4 billion in its financial results for the first quarter of 2024, with tendering activity high in both the subsea and offshore wind sectors. To remind, in the financial results for the full year of 2023, Subsea7 reported it had secured $7.4 billion of c

about 2 years ago

Transition

Sharp fall in gas prices brings Eni slump in profit

With natural gas prices being nearly cut in half, Italy’s energy giant Eni has seen a 46% drop in net profit in the first quarter of 2024 compared to the sum collected in the same period last year.

about 2 years ago

Transition

Science Based Targets initiative approves Fugro’s net-zero targets

The Science Based Targets initiative (SBTi) has approved Fugro’s near- and long-term science-based emissions reduction targets. Fugro’s net-zero target spans all three emission scopes, with the ultimate goal of achieving net-zero greenhouse gas (GHG) emissions across the value chain by 2050. “This v

about 2 years ago

Transition

Texas LNG tucks another tolling deal under its belt

Texas LNG has signed a second heads of agreement (HOA) with Pittsburgh-based EQT Corporation for natural gas liquefaction services.

about 2 years ago

Transition

Op-ed: Hormuz blockage – A potential win for the LNG market?

A conflict-turned opportunity is what many are calling the potential blockage of Hormuz. It is a delicate dance between investor opportunity and world crisis for the second time in two years.

about 2 years ago

Transition

Maersk Training, Green Marine to teach seafarers how to operate methanol-fueled ships

Maersk Training, part of Danish shipping giant A.P. Moller-Maersk, and compatriot Green Marine, a pioneer in methanol-powered maritime solutions, have entered into a strategic partnership to establish Maersk Training powered by Green Marine.

about 2 years ago

Transition

Gas discovery at Irish prospect could bring down emissions stemming from energy imports, report finds

Europa Oil & Gas has published a report suggesting that its prospect offshore Ireland could help curb the firm’s carbon footprint.

about 2 years ago

Transition

After LS Cable & System, Hellenic Cables gets financial push for US cable factory

Hellenic Cables Americas, the U.S. subsidiary of Cenergy Holdings, has received financial support from the U.S. Department of Energy (DOE) for its planned cable manufacturing facility in Maryland. Hellenic Cables Americas is planning to build a new cable manufacturing facility in Baltimore, Maryland

about 2 years ago

Transition

IBIA and BIMCO to jointly address fuel and maritime challenges

The International Bunker Industry Association (IBIA), the voice of the global bunker industry, and BIMCO, the world’s largest international shipping association, have signed a memorandum of understanding (MoU) to collaborate on some of the monumental challenges and opportunities within the areas of

about 2 years ago

Transition

Mocean Energy’s wave energy converter back to shore after 12-month offshore testing

Mocean Energy’s Blue X wave energy converter and Verlume’s Halo underwater battery storage system have returned to shore after over 12 months of testing at sea off Orkney as part of the Renewables for Subsea Power (RSP) project that combines wave energy with subsea storage to power subsea equipment.

about 2 years ago

Transition

ACWA Power unites with IRENA to bolster renewable energy transition

ACWA Power, has signed an agreement to partner with the International Renewable Energy Agency (IRENA) to drive the worldwide transition to renewable energy sources.

about 2 years ago