Australian LNG major Woodside posted a $4 million loss for the year 2020 impacted by impairments. Courtesy of Woodside The company also noted that its underlying net profit after tax was at $447 million. The company said it hit record production of 100.3 million barrels of oil equivalent (mboe), the
German propulsion manufacturer Schottel has secured a contract to deliver main propulsion units for a car ferry to Vancouver-based company Western Pacific Maritime Ltd. (WPM). Ordered by the British Columbia Ministry of Transport and Infrastructure, the newbuild will serve the Kootenay Lake in British Columbia. Image Courtesy: Schottel Specifically, the
Low oil and LNG prices affected by the COVID-19 pandemic hampered the Australian energy major Santos’ finances for the year. Courtesy of Santos The energy major slipped to a $357 million loss in 2020, which compares to a $674 million profit in 2019. The results reflect significantly lower oil and
South Korean shipbuilder Samsung Heavy Industries (SHI) has secured an order for the construction of four very large crude carriers (VLCCs). The newbuilds will be powered by liquefied natural gas (LNG), according to Yonhap News Agency. The contract, signed with an undisclosed shipowner from Oceania, is valued at KRW 458.7
The multi-sector industry coalition SEA-LNG states that LNG can cut greenhouse gas emissions now while also securing the future. Courtesy of SEA-LNG SEA-LNG finds that waiting until future alternative marine fuels are proven and available will only exacerbate the greenhouse gas (GHG) emissions problem the world is currently facing. The
Norway’s energy giant Equinor and French utility company Engie have entered into a partnership to develop joint low-carbon hydrogen activities, paving the way for net-zero in 2050. The partners will investigate the production and market potential for hydrogen from natural gas whereby the CO2 will be captured and stored permanently
Fluxys entered into a collaboration agreement with IPFH, an inter-municipal company in the Belgian province of Hainaut, to develop energy transition projects in that province. Courtesy of Fluxys This collaboration is in line with energy transition objectives and the carbon-neutral by 2050 goal for Europe. Under the agreement, Fluxys and
Energy companies Enel Green Power and Saras signed a memorandum of intent to develop a green hydrogen project in Sardinia, Italy. Courtesy of Enel The document was signed on 16 February 2021. The partnered companies are studying a solution that involves setting up a 20 megawatts electrolyser powered by renewable
Flex LNG, a pure-play LNG carrier company, reported a significant jump in its quarterly profit on Wednesday. Courtesy of Flex LNG The company noted its profit for the fourth quarter of last year hit $25.8 million, up from $3.8 million reported in the quarter prior. Revenues for the period amounted
Danish shipping company Dampskibsselskabet Norden A/S has signed a partnership agreement with the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping. Image by Norden Based in Copenhagen, the Maersk Mc-Kinney Moller Center is an independent, not-for-profit, research and development centre launched with support of the A.P. Moller Foundation, with a