By John Kemp LONDON, Sept 29 (Reuters) - Policymakers in many countries have outlined plans for an ambitious transition from a system dominated by oil, gas and coal in the 2010s to one centered around renewables, nuclear and carbon capture by the 2050s. Experience suggests a significant transformation of the global energy system is possible or even probable by the 2050s, … [Read more...]
Keppel to Review Offshore & Marine Business in Major Revamp
SINGAPORE, Sept 29 (Reuters) - Singaporean conglomerate Keppel Corp said on Tuesday it had identified assets worth S$17.5 billion ($12.8 billion) that could potentially be monetised, including through sales, and started a review of its lossmaking offshore and marine (O&M) business. The plans unveiled on Tuesday are part of Keppel's 10-year strategy that it had flagged … [Read more...]
Canada Gives $238 Million to Newfoundland and Labrador’s Offshore Oil and Gas Industry
The Government of Canada will provide CAD $320 million (USD $238 million) to support offshore oil and gas industry jobs in Newfoundland and Labrador amid the slump in the oil market. The funds were promised by Natural Resources Minister Seamus O'Regan on Friday who said the money would be used for safety improvements, maintenance and upgrades of existing offshore … [Read more...]
U.S. Seeks Stricter Funding Rules for Abandoned Offshore Oil Wells
By David Wethe and Jennifer A. Dlouhy (Bloomberg) --The U.S. is looking to tighten requirements on bonds issued by a growing number of bankrupt oil producers to deal with abandoned offshore wells that could eventually become environmental disasters. The Interior Department is proposing rules to strengthen the issuance criteria after companies have filed for Chapter 11 and … [Read more...]
Energy Transitions, Job Losses and Political Reactions -Opinion
By John Kemp LONDON, Sept 15 (Reuters) - Like other technology shifts, energy transitions provoke strong responses because they involve changes in lives and livelihoods, that go far beyond narrow technical questions about the source and delivery of energy. Transitions disrupt employment and incomes, imposing substantial and concentrated costs on particular households, … [Read more...]