Energy Sector News

01 Mar 2021

Machado Named MD at Maersk Training UK

Maersk Training UK (MTUK) has appointed a new managing director as the company looks to expand its offering to the North Sea energy sector. Leonardo Machado joins MTUK having previously been managing director of the company’s operations in Brazil for six years. Machado played a key role in developing training for the wind and production industries, as well as expanding service solutions for the firm.With plans in place to grow and expand the business in the UK, Machado is aiming…

17 Feb 2021

ABB Marine & Ports Expands in Turkey and Saudi Arabia

(Photo: ABB)

ABB Marine & Ports said it is ramping its presence with local divisions in Turkey and Saudi Arabia, in a move aimed at extending the company's global reach and service capabilities.In Turkey, ABB's newly established local division will serve the country’s vibrant maritime community. The shipbuilding segment in Turkey is a hive of activity – particularly for smaller and short-sea vessels, where ABB’s recent references include systems for two Turkish-built windfarm service vessels delivered to Louis Dreyfus Armateurs…

16 Feb 2021

Cold Snap Shuts Houston Ship Channel

Illustration only - Credit:wifesun/AdobeStock

A deep freeze that hit Texas over the weekend wrought more havoc on the U.S. energy sector on Tuesday, curbing output in the largest U.S. oil field, knocking out a fifth of the nation's refining capacity, and shutting a key shipping channel in Houston.Historic cold has knocked out roughly 4 million barrels per day of refining capacity, more than one-fifth of national capacity, according to Reuters calculations. About 500,000 to 1.2 million bpd of crude production has also been affected…

12 Feb 2021

GEG to Power Port of Nigg Facilities with Green Hydrogen

Credit: GEG

In an eventful week in which its Port of Nigg was selected as a turbine foundation marshaling port for the giant Seagreen offshore wind farm, UK-based Global Energy Group said Thursday it had struck a deal to power its Port of Nigg facilities using green hydrogen, to significantly reduce emissions at the site.The company has teamed up with ScottishPower to identify processes and plant at the facility on Cromarty Firth that could be powered by green hydrogen.Green hydrogen will be generated at the Nigg site and used to power heavy plant…

29 Jan 2021

Global Energy Group Gets Financial Boost for Port of Nigg Facility Expansion

Nigg from the air - credit Inverair Drone Services (via GEG)

Scottish regional development agency, Highlands and Islands Enterprise (HIE), has approved an investment of up to £8.3m in Scottish Government funding for an £18.9m project to develop the East Quay at Global Energy Group's Port of Nigg facility.The project is aimed at helping the Highlands and Islands economy benefit more from the growth in renewable energy development, as well as meeting the needs of GEG's existing clients.Once completed, the new facility is projected to bring…

28 Jan 2021

Biden Pauses Federal Oil & Gas Leasing, Eyes Offshore Wind Growth

Joe Biden - Credit: The White House

President Joe Biden on Wednesday signed a new raft of executive actions to combat climate change, including pausing new oil and gas leases on federal land and cutting fossil fuel subsidies, as he pursues green policies he billed as a boon for job creation.The orders map out the direction for the Democratic president's climate change and environmental agenda and reverse the policies of his Republican predecessor, Donald Trump, who sought to maximize U.S. oil, gas, and coal output by removing regulations and easing environmental reviews."In my view…

12 Nov 2020

Aquaculture: Inside the De Maas’ Offshore Fish Farm

Image Courtesy De Maas.

As attention increasingly turns to ocean health and sustainability, an innovative new fish farm solution was deployed earlier this year when the De Maas’ Semi-submersible Spar Fish Farm (SSFF) became the world’s first offshore farm installed at an open ocean location exposed to tropical storms. MTR recently visited – virtually – with co-founder Philip Schreven for insight on the design and operation particulars of their innovation.How did you became involved in this unique niche of the maritime industry?Mark van Leeuwen and I founded De Maas in 2007 as an offshore oil and gas services company.

09 Nov 2020

Working Out the Election’s Impact on the US Workboat Industry

© Matthew / Adobe Stock

By the time this article is published, voting will have concluded in the 2020 United States presidential election. Based on the possibility of legal challenges to the election, however, it may be some time before we know who will be occupying 1600 Pennsylvania Avenue on January 20, 2021. Additional uncertainty may linger with regard to control of the Senate. However, beyond the general spectacle of American politics, an important question remains: What does this election mean for the U.S.

30 Oct 2020

Baksaas Appointed DNV GL’s Chair of the Board

(Photo: DNV GL)

Former Telenor CEO Jon Fredrik Baksaas has been appointed as DNV GL’s new chair of the board, the Norwegian-headquartered classification society announced.Best known for his 13-year tenure as president and CEO of the telecoms firm, Baksaas started his career with DNV (as it was then known) and spent six years at the company before leaving in 1985. He has also served as member of the DNV Council for 12 years.“DNV GL is a company that is well positioned to take a role as a trusted voice to tackle the global transformations the world is facing.

27 Sep 2020

Milaha, Schlumberger to Build Stimulation Vessel

(Photo: Milaha)

Qatar's maritime and logistics firm Milaha said it entered into a formal agreement with U.S. headquartered oilfield services firm Schlumberger to cooperate on projects that will localize the energy sector supply chain, including the construction of a Qatari offshore oil well stimulation vessel.Milaha said its offshore and marine arm signed the memorandum of understanding (MOU) that will support value building projects while jointly driving Qatar Petroleum-led Tawteen program,…

19 Aug 2020

US Looks to End Exemptions on Venezuela Oil Sanctions

© Francis / Adobe Stock

The United States is considering an October deadline for ending exemptions to Venezuelan sanctions that allow some companies and refiners to still receive the South American producer's oil, two sources said, as Washington seeks to raise the heat on President Nicolas Maduro.U.S. President Donald Trump has ramped up sanctions on Venezuela's state-run PDVSA, its key foreign partners and customers since it first imposed measures against the company in early 2019, seeking to oust the…

31 Jul 2020

Trafigura Offers COVID-19 Premium

(Photo: Trafigura)

Commodities trader Trafigura Beheer has become the first company to offer a defined Covid premium on an Asian syndicated loan, paying up to an extra 20bp all-in on its latest US$1bn-equivalent financing.The novel pricing structure is a first for Asia, if not globally, and could set a precedent for other price-sensitive borrowers looking to limit the long-term effects of the pandemic on their funding costs.Without the Covid premiums, the terms of Trafigura's new deal are little…

31 Jul 2020

Cyprus Gets EBRD Loan to Buy FSRU

Illustration only; An FSRU Unit - Credit: Ryuyu Tai - MarineTraffic

The European Bank for Reconstruction and Development (EBRD) will provide an €80 million loan ($94,7 million), alongside EU and EIB financing, for a floating storage and regasification unit in CyprusThe EBRD is providing an €80 million loan to the Natural Gas Infrastructure Company of Cyprus (ETYFA) for the acquisition of an FSRU and the development of related infrastructure.The FSRU will be permanently anchored about 1.3 km off the coast of Limassol in Vasilikos Bay and will connect directly to the adjacent Vasilikos power station, the largest power plant in Cyprus.

15 Jun 2020

A New Role for Service Providers Amidst Energy Upheaval

© Mike Mareen/AdobeStock

In today’s energy industry, things are moving fast. The upheaval brought about by COVID-19 and exacerbated by the Russia-Saudi Arabia oil price war has been so profound that the International Energy Agency (IEA) has described the situation as “a once in a century event for energy demand”. This is supported by current IEA predictions which suggest a 6% drop in global energy demand in 2020 – seven times worse than the plunge in demand that followed the 2008 recession.Amid what the IEA has dubbed a “dismal” year for fossil fuels…

11 Jun 2020

UK Gov't Urged to Exempt All Offshore Workers from Quarantine Restrictions

Offshore workers - Credit: Алексей Закиров/AdobeStock

A group comprising five offshore energy industry associations has called for the UK Government to exempt all offshore energy sector workers from the 14-day quarantine restrictions introduced on June 8.The group that calls itself the global Offshore Industry Group, comprises  International Association of Drilling Contractors (IADC), International Association of Geophysical Contractors (IAGC), International Marine Contractors Association (IMCA), International Association of Oil…

09 Jun 2020

Greece, Italy to Sign Accord on Maritime Zones

© muratart / Adobe Stock

Greece and Italy will sign an agreement on maritime boundaries during a visit by Italy's foreign minister to Athens on Tuesday, the Greek Foreign Affairs Ministry said.The deal follows months of tensions in the Eastern Mediterranean region over natural resources. Turkey, Greece and Cyprus have been caught in a complex diplomatic standoff over the issue.Details of the deal were not immediately available.Italian Foreign Minister Luigi Di Maio and his Greek counterpart Nikos Dendias are expected to make a joint statements following their meeting.At a meeting in Rome in February…

07 Jun 2020

US Weighs Blacklisting More Oil Tankers Over Venezuela

© momentscatcher / Adobe Stock

The United States is considering imposing sanctions on dozens of additional foreign oil tankers for trading with Venezuela, U.S. officials told Reuters on Friday, the latest effort to sever what Washington sees as a lifeline for President Nicolas Maduro.Some sanctions could be announced in the near term while others could be imposed over a longer period if the trading activity persists in violation of U.S. restrictions, one of the officials said on condition of anonymity.Earlier on Friday…

16 Apr 2020

Full SCHOTTEL Propulsion for Jan De Nul Crane Vessel

Image: SCHOTTEL

Jan De Nul has ordered a heavy lift crane vessel capable of lifting 5,000 metric tons from the CMHI Haimen shipyard in China. The vessel, to be named Les Alizés and due to enter service in 2022, will be equipped with a full SCHOTTEL propulsion package, including four rudderpropellers, two retractable rudderpropellers and two transverse thrusters.The main propulsion system of the crane vessel consists of four electrically driven SCHOTTEL Rudderpropellers type SRP 610 FP – each with an input power of 3,000 kilowatts and a propeller diameter of 3.3 etersm – installed at the stern.

23 Apr 2020

What Will COVID-19 Mean for US Offshore Wind?

© Bragapictures / Adobe Stock

What will COVID-19 mean for the offshore wind industry? An industry not yet spinning on its own.Epitomized by the roller coaster ride that defined the stock market over the last few weeks, unpredictability has emerged as one of the few certainties of the coronavirus disease 2019 (COVID-19) crisis. Every industry has seen the effects of the pandemic, from hospitality, to travel, and even to the renewable energy sector. Indeed, even though the US offshore wind industry is not yet fully established…

25 Mar 2020

Wärtsilä Testing Ammonia as a Marine Fuel

Wärtsilä is testing ammonia as a viable fuel for shipping and energy sector applications (Photo: Wärtsilä)

As marine operators and euipment manufacturers continue to explore alternative marine fuels as a means to help lower vessel emissions, technology group Wärtsilä said it has initiated combustion trials using ammonia.As part of the tests, ammonia was injected into a combustion research unit to better understand its properties. Based on initial results, the tests will be continued on both dual-fuel and spark-ignited gas engines. These will be followed by field tests in collaboration with ship owners from 2022…

20 Mar 2020

U.S. Clean Energy Sector Seeks Subsidies to Keep Projects Moving

© Federico Rostagno

Wind and solar energy companies on Thursday called on Congress to pass tax incentives that would help the sector avoid project delays and keep financing flowing amid a pandemic that has choked off supply chains and slowed construction.In a letter to House and Senate leadership, seven clean energy trade groups asked lawmakers to extend deadlines that would allow their projects to qualify for generous wind and solar federal tax credits despite delays caused by the spread of the coronavirus across the globe.The American Wind Energy Association…

11 Mar 2020

A&P Group Now Works on Renewables Only

The global ship repair, conversion and fabrication specialist A&P Group is now using 100% renewable energy across all three of its facilities as it aims to improve its green credentials and meet Government targets.The UK-based A&P Group with three shipyards located in Hebburn, Middlesbrough and Falmouth said it is committed to improving the sustainability of its services and reducing carbon emissions to ensure it meets UK Government’s legal requirement of bringing all greenhouse gas emissions to net zero by 2050.A&P Group’s decision to buy its energy from Haven Power, a company which only supplies energy from a renewable source, is the latest measure to help achieve this goal…

01 Mar 2020

Poland Preps Wind Energy Agreement

The Polish Wind Energy Association (PWEA) and the Polish Offshore Wind Energy Society (PTMEW) have announced plans to form a cooperation agreement for offshore wind energy in Poland modeled on the UK's Offshore Wind Sector Deal concluded in March 2019.The bodies together with their Members established cooperation in order to elaborate multilateral 'Declaration of Cooperation for Polish Offshore Wind Energy Sector Development' to be signed by three parties: government/administration, OWF investors and supply chain.The draft declaration is inspired by British 'Offshore Wind Sector Deal' signed in March 2019. Final project is to be elaborated till the end of June 2020.Meanwhile…

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