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Transition - Offshore Energy

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With 'outstanding' financial results in 2023, Prysmian upgrades its decarbonization strategy

Transition

With ‘outstanding’ financial results in 2023, Prysmian increases its decarbonization ambition

Italian cabling giant Prysmian in 2023 delivered what it says was a “remarkable performance” with “outstanding” financial results, record backlog in Transmission, as well as increased 2030 emission reduction ambition. For the financial year 2023, Prysmian’s adjusted EBITDA rose by 9.4% to €1,628 mil

about 2 years ago

Transition

BP and Baker Hughes make headway in monitoring methane emissions from flaring

Baker Hughes has joined forces with BP to bring a new application for the upstream oil and gas sector to life as part of its emissions abatement technology.

about 2 years ago

Transition

How far has Shell’s decarbonization journey gone and what is yet to come?

Shell has reiterated its commitment to halving Scope 1 and 2 emissions from its operations by 2030, compared with 2016 on a net basis.

about 2 years ago

Transition

MOL and Rio Tinto partner on decarbonization

Japanese shipping major Mitsui O.S.K. Lines (MOL) has partnered with British-Australian mining group Rio Tinto to enhance collaborations on safety and crew welfare initiatives and decarbonization of maritime transportation.

about 2 years ago

Transition

Deployment of over 30 AI tools brings ADNOC $500 million while slashing emissions

ADNOC has used more than 30 AI solutions across its full value chain to curb its emissions footprint while generating $500 million in value during 2023.

about 2 years ago

Transition

ORE Catapult: 10 technology innovations key to 80% cost reduction of UK tidal energy

A new report by the Offshore Renewable Energy (ORE) Catapult has identified ten technology innovations, subsea hubs among others, that could result in an 80% cost reduction in tidal stream energy, making it lower than current nuclear energy prices if successfully commercialized. The ten technology i

about 2 years ago

Transition

Two more CO2 storage areas up for grabs offshore Norway

The Norwegian Ministry of Energy is inviting applications for two areas for CO2 injection and storage in the North Sea, representing the sixth time acreage is being announced for CO2 storage on the Norwegian Continental Shelf (NCS). The Norwegian Ministry of Energy announced two areas for CO2 storag

about 2 years ago

Carnegie Clean Energy raises over $2M to support ‘first ever’ CETO deployment in Europe

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Spain awards €2.1M for Carnegie’s CETO wave energy device deployment

Carnegie Clean Energy’s wholly-owned subsidiary Carnegie Technologies Spain has secured a €2.1 million grant from the Basque Energy Agency to support the deployment of its CETO wave energy device at Biscay Marine Energy Platform (BiMEP) in the Basque Country. The grant has been awarded by Ente Vasco

about 2 years ago

Illustration; Source: Offshore Energies UK (OEUK)

Transition

Winds of change sweep across UK’s energy sector

The UK has decided to pull out of the Energy Charter Treaty (ECT) and prolong the windfall tax on oil and gas producers’ profits.

about 2 years ago

Transition

MAN ES and Mitsui E&S perform world’s first hydrogen combustion test on marine 2-stroke engine

MAN Energy Solutions (MAN ES) and its licensee Mitsui E&S have unlocked a new milestone in the maritime industry with the world’s first hydrogen combustion operation of a large marine engine. The hydrogen combustion operation of a large marine 2-stroke test engine with a bore size of 50 cm was compl

about 2 years ago

UK continues tidal stream ringfence, increases budget

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UK continues tidal stream ringfence for third year, increases budget

The UK government has set a £10 million ringfence for tidal stream in this year’s renewables auction, representing a third consecutive year. The UK Department for Energy Security and Net Zero (DESNZ) announced that tidal stream and wave energy will compete in Pot 2 of the Contracts for Difference (C

about 2 years ago

Transition

BV: Energy insetting key to providing pathways for ‘earliest possible’ adoption of new fuels

Classification society Bureau Veritas (BV) has unveiled the results of new modeling research which confirmed the potential hefty cumulative impact of operational and technical efficiency measures in keeping shipping within its “carbon budget” to 2050.

about 2 years ago

Transition

Tekmar says 2023 pivotal year, despite instability in offshore wind market

Tekmar Group has reported improved financial performance for the 2023 financial year with a revenue of £39.9 million, compared to £30.2 million in FY22. Deemed a pivotal year that saw instability in the offshore wind market, Tekmar said it had stabilized the business in 2023. Tekmar saw an adjusted

about 2 years ago

Transition

EU grants €8.9 million for advanced hydrogen valley in Western France

An 18-member consortium, coordinated by French hydrogen producer Lhyfe, has launched a new project to establish an advanced green hydrogen valley in Western France. The project has received an €8.9 million grant from the European Commission through the Clean Hydrogen Joint Undertaking. The project c

about 2 years ago