By William Mathis (Bloomberg) --A carbon-fiber kite tethered to a buoy floating in waters 220 meters (761 feet) deep took flight in a test to prove that the future of offshore wind power might fly through the air. The kite, owned by the Alphabet Inc.-subsidiary Makani and backed by Royal Dutch Shell Plc, completed its first demonstration about 10 kilometers (6.2 miles) off … [Read more...]
Maersk CEO Wants to Explain Free Trade to Trump
By Christian Wienberg (Bloomberg) -- The chief executive officer of the world’s biggest shipping line says he’d like to meet with U.S. President Donald Trump to explain the merits of free trade. Soren Skou, the CEO of A.P. Moller-Maersk A/S, delivered a set of quarterly results on Thursday that show his company has so far managed to ride out the trade war that’s raging … [Read more...]
Trump Administration Plans to End Methane Curbs That Oil Companies Want to Keep
By Jennifer A. Dlouhy - (Bloomberg) --The Trump administration is readying a plan to end direct federal regulation of methane leaks from oil and gas facilities, even as some energy companies insist they don’t want the relief. A draft proposal from the Environmental Protection Agency would prevent the federal government from directly targeting that potent greenhouse gas as it … [Read more...]
Idling LNG Tankers Hint at Increasing Appeal of Floating Storage
By Anna Shiryaevskaya and Naureen S. Malik (Bloomberg) --Liquefied natural gas tankers are taking longer-than-usual journeys to deliver cargoes and spending more time idling at sea in a sign some traders are starting to use vessels for storage. There may be other reasons for keeping the cargoes on the water, including logistical or weather issues, such as a monsoon in India. … [Read more...]
Euronav’s Giant ‘Oceania’ Starts 12,400-Mile Trip to Fuel-Storage Zone
By Jack Wittels and Timothy Abington (Bloomberg) --The world’s biggest oil tanker has begun a 12,400-mile voyage to a fuel-storage zone in Asia, the latest movement of a vessel that’s intrigued the shipping market and fuel traders for months. More than 1,200 feet long, 16 years old, and able to hold roughly a day of France’s and Britain’s combined oil consumption, Oceania … [Read more...]