Energy

A revival in manufacturing across the world holds the key to the mid-term recovery of oil and gas markets, with consumer demand likely to lag as the energy industry begins to recover from the twin shock of the COVID-19 crisis and the resulting demand crash.

Innovative new artificial intelligence-based software with the potential to streamline oil and gas industry logistics in the North Sea, saving millions of pounds and reducing CO₂ emissions, is now under development.

Siemens has been awarded an order from Danish customer Semco Maritime to provide the main electrical equipment for the electrical service platform (ESP) of the offshore wind project Mayflower Wind LLC (Mayflower Wind).

On the UN’s World Oceans Day, Equinor is launching its ambitions for reducing own emissions from ships and how the company will contribute to decarbonizing shipping.

Equinor and partners Vår Energi, LOTOS and KUFPEC have made an investment decision to partly electrify the Sleipner field. The partners are submitting a revised plan for development and operation to the authorities.

The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a continued downwards trajectory through 2022.

Maress will enable Aker BP to get a detailed insight into the fuel consumption and emissions from the fleet of advanced offshore vessels operating on the Norwegian Shelf. The Maress software provides a foundation for making informed and data-driven decisions on how to decarbonize operations.

Investments in solar and wind energy projects by the world’s oil majors until 2025 are expected to exceed $18 billion, a Rystad Energy analysis finds.

Total has entered into an agreement with SSE Renewables, to acquire a 51% stake in the Seagreen 1 offshore wind farm project for an upfront payment at closing of 70m£ and earn-outs up to 60m£ in aggregate subject to performance conditions.

Siemens Gamesa has received the firm order for the supply of wind turbines and a 15-year maintenance contract for the Fécamp offshore wind power plant from customer EDF Renewables, Enbridge and wpd.

Business Network for Offshore Wind participated in a United Nations call focused on sustainable ocean business.

The EU-funded Ocean DEMO project opened its 3^rd call on Tuesday, June 2.