Energy Trends News

The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds. As we prepare for the new year, let us look at ten factors that will shape the offshore wind sector in 2023.1. Solid foundations: Optimism for the supply chain is founded on declared and inferred offshore wind deployment targets by a growing number of countries of over 400 GW, driven by energy transition and energy security policies.2.

The 2022 Maritime Risk Symposium (MRS) is scheduled to be held Nov. 15-17, 2022, hosted by Argonne National Laboratory at the Argonne campus in Lemont, Illinois. MRS is an annual international event focused on risks involving the global maritime transportation system (MTS). For the MRS, the U.S. Coast Guard partners with the sponsor, the Transportation Research Board of the National Academies of Science, Engineering, and Medicine, and the hosting agency. MRS began in 2011 and has grown in size, scope and interest. The MRS event will be followed by the U.S.

When Elisabeth Tørstad took the helm as CEO of DNV GL - Oil & Gas in late 2013, the price of a barrel of NYMEX (WTI) crude oil was more than $100. Today, that price has been halved, and the 40-month period between her ascension to the top post and our meeting with her in Houston in May 2017 has been arguably the most tumultuous in the oil industry’s history. Tørstad shares with Maritime Reporter & Engineering News her insights on the market going forward. With the energy slump entering its fourth year…

Oil pricing continues to hover in the mid-$50s, market confidence is slowly returning and the production floater fabrication market is stirring. A major order for a production semi was placed in early January -- with Samsung receiving a contract to build the production semi for BP's Mad Dog Phase 2 project. The $1.27 billion unit will have capability to produce 110,000 b/d oil from 14 production wells. It will be used to develop further oil discoveries near the original Mad Dog Spar in the Green Canyon area of the GOM.

Aker Solutions announced at the company's capital markets day that it is maintaining its ambition of 9-15 percent annual revenue growth for the period 2011-15 due to a favorable market outlook for the oil services industry. The company  also maintains its ambitions of 3-4 percentage points EBITDA margin improvement by 2015. The target for organic revenue growth is 6-10 percent per annum. The order intake has been strong over the past year, increasing Aker Solutions'  order backlog by 23 percent (end of Q3 2011 vs Q3 2010). This growth reflects high activity levels in the markets where Aker Solutions operates, and the company expects continued strong markets and tender activity going forward.

Aker Solutions will today announce at the company's capital markets day that it is maintaining its ambition of 9-15 percent annual revenue growth for the period 2011-15 due to a favourable market outlook for the oil services industry. The company also maintains its ambitions of 3-4 percentage points EBITDA margin improvement by 2015. The target for organic revenue growth is 6-10 percent per annum. The order intake has been strong over the past year, increasing Aker Solutions' order backlog by 23 percent (end of Q3 2011 vs Q3 2010).

World energy use will grow by a steady two percent a year from now till 2020, and carbon dioxide emissions which contribute to unwanted climate change will rise at about the same rate. Most of the increases will come in developing countries. Oil, gas and coal will continue to dominate the world fuel mix. Countries that import oil and gas will grow increasingly dependent on production from OPEC members in the Middle East. These are some of the main projections to be found in the "reference scenario" of World Energy 2000, the biennial flagship publication of the International Energy Agency. The new Outlook was launched today at the COP 6 Conference in the Dutch capital.