Ocean Energy Resources

GLOBAL NEWS SERVICE FOR THE FOSSIL AND RENEWABLE ENERGY COMMUNITIES

Milaha is strengthening its maritime position

General – Investment

Milaha, which is planning to modernise its fleet, particularly offshore vessels, has laid out plans to strengthen its presence in Kuwait and Iraq, deepen trade flows between Asia and the Middle East, explore new trade opportunities in East and North Africa, and selectively expand operations in Saudi Arabia and the UAE.

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Equinor steps back from CCS Expansion

General – Carbon Capture and Storage

Equinor, long regarded as one of the global standard-bearers for carbon capture and storage, is scaling back its near-term investment plans for CCS as project economics and customer demand fail to mature at the pace once expected.

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Equinor plans 250 exploration wells in Norway by 2035

Fossil Energy – Equinor

Equinor plans to drill 250 oil and gas exploration wells in Norwegian waters over the next 10 years to achieve a goal of sustaining output in 2035 at 2020 levels, driven by expectations of prolonged fossil fuel demand.

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Pentland floating offshore wind project secures backing

Wind Energy – Funding

Pentland Floating Offshore Wind Farm in Scotland, developed by funds managed by Copenhagen Infrastructure Partners P/S, announces investment from Great British Energy, National Wealth Fund and Scottish National Investment Bank each with the option to invest up to £50m.

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Berlin to set aside € 7.6 bln to acquire stake in TenneT Germany

General – Acquisition

The German government is considering acquiring a 25.1% minority stake in electricity grid operator TenneT’s German unit, an economy ministry spokesperson said last week.

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CIP to invest USD 3B in PH’s first offshore wind project

Wind Energy – Philippines

Copenhagen Infrastructure Partners (CIP) will invest USD 3 billion to build its first offshore wind farm in Camarines Sur, marking its first project in Southeast Asia and a major boost to the Philippines’ clean energy transition goals.

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Adnoc poised to partner with Eni and YPF in LNG Project

General – Partnership

Abu Dhabi National Oil Company (Adnoc) is set to expand its global LNG footprint by joining forces with Italy’s Eni and Argentina’s state-owned energy firm YPF in the ambitious Argentina LNG project.

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