Offshore occupational health and safety inspections possibly by year-end – Demerara Waves Online News Guyana

Last Updated on Sunday, 4 April 2021, 8:43 by Denis Chabrol

Labour Minister Joseph Hamilton addressing the launch of Occupational Safety and Health Month 2021 outside his ministry, Upper Brickdam, Georgetown.

Minister of Labour, Joseph Hamilton said the inspection of offshore oil production and exploration facilities could start by year end after Occupational Safety and Health (OSH) inspectors receive specialised training and new related laws are passed.

What will guide me is the lifespan of the training. I would say by the end of the year, we should be in a position to have officers go out and do offshore inspections, he said in an exclusive interview with News-Talk Radio Guyana 103.1 FM/ Demerara Waves Online News.

Mr. Hamilton said that currently officials are examining the costs to train senior inspectors about safety specifically in the hydrocarbon sector. We are looking at the dollars and cents matter because we have several proposals from different places, he said. The Labour Minister said the arrangements and decision on whether to access training from Mexican or Trinidadian companies would decided would be made within one month.

He said ExxonMobil, the American Chamber of Commerce- Guyana and other industry stakeholders were being engaged in revamping Guyanas OSH legislation and eventually the draft laws would be published and stakeholders would be engaged. He hoped that the consultative process would be concluded in time for the Bills to be tabled in the National Assembly before the third quarter (July- September).

We have to do in OSH special legislation for Oil and Gas industry. That is the instruction that I have from the highest authority that we must be the primary place that is developing the necessary legislation, he said, adding that the International Labour Organisation (ILO) was willing to provide support.

After those consultations and feedback, he said the drafts would be sent to the Attorney Generals Chambers and eventually to Cabinet for approval before they are tabled in the National Assembly for eventual passage and assent.

General Secretary of the Guyana Bauxite and General Workers Union (GBGWU), Lincoln Lewis, reacting to the announcements by the Labour Minister that there would be stepped up enforcement of the existing and new OSH laws, said it was too early to conclude that the pronouncements were mere rhetoric. I would want to give him a chance and see the results from what he has said, Mr. Lewis told News-Talk Radio Guyana 103.1 FM/ Demerara Waves Online News.

Mr. Lewis welcomed the Labour Ministrys plans to strengthen and enforce OSH laws, saying that the labour movement has been pushing for such action over the years. These are things that are necessary. We have been advocating for those things. We have been advocating that even in the new economy where you have oil and gas, that our legislative agenda must include those areas and will have to be supported by the necessary support services, he said.

The Labour Ministry has since taken steps to increase the number of OSH inspectors from nine to 30 to police the entire country. Plans are also being rolled out to decentralise the OSH operations by opening up offices in the regions.

Continued here:

Offshore occupational health and safety inspections possibly by year-end - Demerara Waves Online News Guyana

Is This The Best Way For Offshore Producers To Raise Production – OilPrice.com

The saying has it that in every crisis there is opportunity, and the oil industry is no exception, with efficiencies and targeted investments being the prime focus areas during and in the aftermath of a downturn. Very few stones remain unturned in an upstream sector that has been hit hard by successive crises, and Rystad Energy is highlighting one of the last significant untapped value creation windows that of subsea boosting identifying more than 200 projects globally where the technology could make an immediate impact by increasing production profitably. The report was produced utilizing our newly launched Subsea Processing Screening Tool a dashboard that analyses the different components of subsea processing evaluating offshore projects worldwide and identifying the best candidates for subsea boosting. We have quantified costs, profits and the potential extent of increased output that are related to applying this sparsely-used technology,

The increase in recoverable reserves for the top 100 projects, out of more than 200 projects identified where subsea boosting would be profitable, averaged 61 million barrels of oil per project, with the amount varying widely depending on the size and location of each project. For every extra barrel of oil produced due to subsea boosting, operators can expect a profit of $11.30 on average.

The average investment cost to apply the subsea boosting solution for the above projects is at about $475 million, again varying widely depending on project characteristics.

Most of the identified candidate projects, nearly 50, are located in the US. The other countries rounding out the top 10 list are Brazil, Angola, Norway, the United Kingdom, Guyana, Nigeria, Ghana, Malaysia and Suriname.

The 10 companies that operate most of these projects identified by Rystad Energy are Petrobras, ExxonMobil, Shell, Equinor, BP, Chevron, Eni, LLOG, Murphy Oil and Apache.

Subsea boosting is the most mature technology within thesubsea processing toolbox, and yet, much like the other subsea processing technologies, it is not widely adopted. Framo Engineering (now OneSubsea) installed the first subsea booster pump on Shells Draugen platform off Norway in 1993 but since then only another 50 projects have installed boosting equipment worldwide.

Related: The Most Fragile Oil Price Rally In History

Subsea boosting offers significant value creation, both for brownfield and greenfield developments, by reducing the wellhead backpressure at the seabed, which in turn accelerates production and increases total recoverable resources, says Erik Vinje, analyst with Rystad Energys energy service team.

The project candidates deemed suitable in this analysis were identified by studying field characteristics and calculating the net present value from installing a subsea boosting system. This process considered the impact to the production profile, any increase in recoverable reserves and costs related to equipment, installation, power investments and topside modification. About 50% of the candidate projects are brownfield initiatives, where the quicker subsea boosting is applied, the larger the positive impact.

One of the main reasons for the low adoption rate seen thus far for boosting equipment relates to the reliability of these units. The operational downtime ratio of the pumps was a critical issue in the early days of subsea boosting, as any need for intervention involved expensive specialized vessels or drilling rigs to repair the unit. However, with advancing technology, the reliability of subsea units has increased in recent years.

By Rystad Energy

More Top Reads From Oilprice.com:

Continue reading here:

Is This The Best Way For Offshore Producers To Raise Production - OilPrice.com

Oil Companies BP and Total Win Offshore Wind Leases in Britain – The New York Times

Two giant oil companies won the largest share of options to build new offshore wind farms awarded by Britain on Monday, investments that are expected to eventually total in the tens of billions of dollars.

The options were a big move by major petroleum producers into an industry that has for years been dominated by smaller, specialized companies.

The winning bidders, including BP and the French oil company Total, agreed to initially pay a total of 879 million pounds (about $1.2 billion) in deposits to develop offshore wind farms that will provide sufficient power to light up seven million homes.

The announcement was made by the Crown Estate, the organization that manages the properties on behalf of the queen and the British government. The undersea tracts are part of a large portfolio of properties owned by the British monarchy. Most profits go to the government, with around 25 percent going to pay the sovereigns expenses.

The high amounts paid for options to build on six offshore plots surprised observers. It appeared to be a sign of both the strength of the British wind market and the eagerness of oil companies to get into the business, said Soeren Lassen, head of offshore wind research at Wood Mackenzie, an energy research firm.

This is a very strong and clear sign of the attractiveness of the offshore wind sector, he said. Offshore wind, which has existed as an industry for only about three decades, has advanced into the mainstream of large scale electric power generation.

The oil companies are piling into offshore wind because they reckon that investing in massive facilities capable of providing clean power for millions of homes can quickly advance their commitments to reduce the overall carbon emissions of the energy products they produce and sell.

The companies are accustomed to spending $10 billion or more on energy projects, and their eagerness to lock up offshore tracts may also be driving up prices in an industry previously known for frugality.

Key offshore players like Orsted, the Danish company that is the largest offshore wind developer, failed to win any acreage in the auction. In a statement on Monday, the companys deputy chief executive, Martin Neubert, criticized the prices paid as unsustainably high.

The oil giants appear to believe that it is worth spending substantial sums to gain access to favorable sites. Dev Sanyal, BPs executive vice president for gas and low carbon energy, said in an interview that offshore wind would be the energy sectors fastest-growing business over the next 20 years.

Mr. Sanyal also said building and maintaining turbines at sea fit well with BPs legacy skills in drilling for oil in the North Sea off Britain and other areas. Although the company is shedding 10,000 jobs as it gradually reduces oil production, it is installing some former oil and gas operators into critical roles in its renewable-energy businesses.

BP estimates that it will pay 1.8 billion over four years for the rights to two tracts in the Irish Sea that it won with a partner, Energie Baden-Wrttemberg, a German utility. During that time, it will work through permissions and other planning. The turbines are expected to begin generating power after seven years.

Mr. Sanyal called the large upfront payments relatively small in the context of the overall capital costs for the projects of many billions. Oil companies often shell out princely sums for access to resources before drilling operations begin.

BP paid the highest price per unit of potential power generation for the two tracts that it won. The company argues that these areas, which add up to about 300 square miles of seabed, are likely to have the lowest development costs and, therefore, higher profits because they are in shallow water about 20 miles from the coast of North West England.

Total was the top bidder for a large tract in the southern North Sea in partnership with an arm of Macquarie, a financial firm.

BP and Total are rapidly expanding their offshore portfolios as part of commitments to help mitigate emissions. Last year, BP paid $1.1 billion for a half-share of the offshore business that Equinor, the Norwegian oil company, has established off the east coast of the United States. The companies were recently tapped by New York State to supply power from two large wind farms in the Atlantic.

RWE Renewables, a German utility, won two large swaths of seabed awarded by Britain on Monday.

The companies will pay annual fees while developing their projects and then 2 percent of their revenue, according to the Crown Estate.

Orsted suggested that high prices reflected a lack of sufficient opportunities to meet demand. Appetite in this leasing round by far exceeded supply, resulting in unsustainably high front-end costs, Mr. Neubert said in the statement.

RenewableUK, a trade group, also found fault with the auction process, warning it might mean higher costs for developers and consumers.

The critics say that, in essence, the Crown Estate did not put enough potential lease areas up for auction and that forced prices higher. But the estates chief executive, Dan Labbad, argued that moving too quickly might risk damaging the marine environment.

There are a lot of uses for the seabed that need to be respected; otherwise, we will be creating new problems for the future, he said.

View original post here:

Oil Companies BP and Total Win Offshore Wind Leases in Britain - The New York Times

New legislation would mandate shift to offshore wind production – KTVU San Francisco

Wind turbine farm power generator in beautiful nature landscape for production of renewable green energy is friendly industry to environment. Concept of sustainable development technology.

SACRAMENTO, Calif. - California Assemblymember David Chiu introduced a bill to the legislature on Thursday intending to shift the state's energy sources to rely more on offshore wind power.

Assembly bill 525, if passed, would set a state goal of producing 10 gigawatts of offshore wind energy by 2040, and would direct state agencies to work on approving the construction of offshore wind infrastructure, such as turbines.

"If the total technical potential for offshore wind capacity along the California coast were built out, the state could see approximately 112 GW of new clean energy. Offshore wind is the perfect complement to California's existing solar capacity. When the sun sets and solar stops producing, wind picks up allowing offshore wind turbines to produce energy throughout the night and late afternoon during peak usage hours," according to a press release from Chiu's office.

California has enacted several measures at the state level to abate climate change, including a law signed in 2018 requiring the state to have a carbon-free electric system by 2045. In order to achieve this goal, California need an estimated 140 gigawatts of new clean energy, according to Chiu's press release.

In order to access wind power, offshore wind turbines would need to be built 20 to 30 miles offshore in federal waters.

The State Building and Construction Trades Council of California, which represents almost half a million construction workers in the state, is one of the bill's cosponsors.

"Offshore wind is the next frontier and our highly skilled workforce is positioned to bring a new, limitless and reliable green energy source onto California's grid. If you will, it's a wind-win," said Robert Hunter, president of the State Building and Construction Trades Council of California.

The bill is expected to be heard this spring in the Assembly's policy committee.

Here is the original post:

New legislation would mandate shift to offshore wind production - KTVU San Francisco

Offshore Wind Positioned To Take Off Under Biden – JD Supra

Europes offshore wind sector enjoyed a record $31 billion of investment in 2020. The U.S has some serious work to do to catch up. While development of land-based wind and solar projects continues at a rapid pace across the U.S., we lag far behind many other countries when it comes to offshore project development. There are currently only two small offshore wind projects operating in the U.S.

There are signs, though, that change is coming.

A new investment tax credit (ITC) was created at the end of 2020 for offshore wind, and the Internal Revenue Service issued a notice extending the safe harbor period for finishing construction to ten years, a boost for offshore projects which often take longer to develop than their land-based counterparts. Then, in week two of Bidens presidency, on the Presidents so-called Climate Day, Biden signed three executive orders directing the Department of the Interior to identify steps to double offshore wind production by the year 2030. Last week, the Biden administration announced it would restart permitting for the first major U.S. offshore wind project, which is being developed off the coast of Marthas Vineyard, Massachusetts, reversing a Trump administration decision that hit pause on the project in December. Support for offshore wind growth is here, and the time has come for the U.S. to do its part.

Developers accustomed to land-based projects have a solid knowledge base to build off of, as offshore wind development has many similarities to its big brother, onshore wind. However, there will be a learning curve to navigate these waters, especially legal issues not triggered by land-based projects. Jurisdictional differences present a threshold challenge: land-based renewable projects are always subject to federal, state, and local jurisdiction, but this is not the case with offshore wind. In the Great Lakes, each state has jurisdiction over submerged lands reaching out to the center of each lake, so state law will be largely at issue. For ocean-based projects, each state bordering the Atlantic Ocean or Pacific Ocean has jurisdiction over submerged lands out to three nautical miles offshore, and Texas, Florida, and Louisiana have jurisdiction over submerged lands in the Gulf of Mexico out to nine nautical miles offshore. Beyond the state jurisdictional borders, jurisdiction lies with the federal Bureau of Ocean Energy Management (BOEM), a division of the U.S. Department of Interior. Thus, most ocean-based projects will be subject primarily to federal jurisdiction, without much of a state or local component. As wind project footprints expand and turbines grow in size, projects may start extending beyond U.S. territorial waters into international ocean waters above the continental shelf, in which case international laws and treaties will apply.

Another consideration unique to offshore wind is the application of maritime law. Further, project sites will not be privately owned by landowners, as is typically the case with land-based projects. Most offshore wind farms will be subject to a federal or state leasing process. The environmental and permitting requirements for offshore wind will also differ from the requirements for onshore projects. Where BOEM leasing is involved, the National Environmental Policy Act (NEPA) will be triggered, and BOEM will have to conduct an environmental review and assessment under the federal law. Although the U.S. Fish and Wildlife Service (USFWS) will still be the primary agency involved in species issues for lake-based projects, the National Oceanic and Atmospheric Administrations National Marine Fisheries Service (NMFS) will generally oversee marine species issues that arise with offshore projects. The consultation process with NMFS will differ. States and localities may also have coastal zone management programs with specific requirements.

[View source.]

The rest is here:

Offshore Wind Positioned To Take Off Under Biden - JD Supra

State bill introduced to jumpstart offshore wind on Central Coast – KSBY San Luis Obispo News

Assemblyman Jordan Cunningham (R-San Luis Obispo) on Thursday announced the introduction of a bill to jumpstart offshore wind projects on the Central Coast.

AB 525 would establish the state's commitment to using offshore wind power to meet clean energy goals. State agencies and commissions must develop plans to build 10 gigawatts of offshore wind power by 2040.

The Central Coast is uniquely situated to become the west coast hub for this new and burgeoning industry. With transmission lines going into Morro Bay and Diablo Canyon, and local call areas already being studied by the Department of the Interior and the Navy, San Luis Obispo County should see major economic expansion as a result of the growing offshore wind industry, said Cunningham. Clean power, high-paying trades jobs and local economic expansion: offshore wind is a winner for the Central Coast.

Under current law, the state must procure 60% of its energy from renewable sources by 2030 with a goal of procuring 100% of its energy from renewable sources by 2045.

According to Cunningham, the state has no viable plan to reach its 60% mandate after Diablo Canyon Nuclear Power Plant goes offline in 2025. The development of offshore wind power may help the state meet its renewable energy goals.

Excerpt from:

State bill introduced to jumpstart offshore wind on Central Coast - KSBY San Luis Obispo News

Offshore Air Handling Units Market Report 2016 Includes Growth by Global with Industry Analysis, Size, Share, Trends, Key Vendors, Drivers and…

Global Offshore Air Handling Units Market: Overview

The demand in the world offshore air handling units market is prophesied to stay sturdy on the back of the aggravating progress of the offshore ship building, oil and gas, and other related industries. As a result of the uncompromising and increasingly rough conditions that cruise liners, marine equipment, ships, and oil rigs operate in, the demand for building resilient offshore air handling systems has augmented significantly. In this regard, these systems are manufactured using stainless or coated steel and advanced light-weight and corrosion-resistant materials.

The global offshore air handling units market could be classified according to fan type, product type, capacity, and application. The vital segments of this market are extensively analyzed in the report to help businesses invest in the right areas of the industry.

Get Sample Copy:

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3812

The publication authored by the seasoned researchers at Transparency Market Research (TMR) is a comprehensive guideline to analyze the key elements of the world offshore air handling units market. Established and new entrants in the market can gain an upper hand with the competitive company profiling offered in the report.

Global Offshore Air Handling Units Market: Driving Factors

The international offshore air handling units market is propelled by a number of factors such as elevating demand from emerging countries, increasing prices of energy, and the employment of Kyoto Protocol for combating climatic changes. Other factors that are responsible for the growth of the global market include the rising interest in energy conservation and incrementing focus on the use of economical renewable energy sources such as solar power.

However, the adoption of air handling systems could suffer due to the low thermal efficiency of some handlers which have made them less competitive with free waste heat being easily available. They also stand weak before electric chillers with their requirement of larger cooling tower capacity and greater pump energy. Nonetheless, promising opportunities are expected to rise from the fact that waste heat can find efficient applications and a countable number of manufacturers are making available multiple low cost units.

Grab an exclusive PDF Brochure of this report:

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=3812

Global Offshore Air Handling Units Market: Key Segmentation

In respect of effect, the world offshore air handling units market can be classified into three segments, i.e. single effect, double effect, and triple effect. In single effect, the four chief elements of a handling machine, viz. condenser, generator, absorber, and evaporator, are used to transfer fluids. Double effect permits an absorbent solution to execute a more refrigerant boil-off. With two generators and condensers each, the double effect chiller differs from the single effect one. The triple effect handlers are deemed to be a rising innovation in the heating, ventilation, and air-conditioning (HVAC) technology.

The global market can also be segregated into indirect-fired and direct-fired segments with regard to energy supply.

Global Offshore Air Handling Units Market: Geographical Evaluation

The North America market for offshore air handling units is evaluated to attract demand, especially in Mexico and the U.S., with the soaring degrees of the temperature recorded there. Nevertheless, Asia Pacific is foreseen to rake in a colossal growth in countries such as China and India and the Malay Archipelago nations. Currently, the Asia Pacific market holds a larger share, putting behind few of the major regions of the global offshore air handling units market. The geographies categorized under Rest of the World, especially Latin America, are anticipated to find a decent foundation for growth as energy generated from waste becomes smoothly available. The change in government regulations is also expected to help the aforementioned geographies to gain traction.

Request For Customization:

https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=3812

Global Offshore Air Handling Units Market: Company Profiling

There are a few companies which have stepped into the frontrunners shoes when it comes to the production of offshore air handling systems. They are Johnson Controls, Trane, Inc., Broad Air Conditioning Co. Ltd., Hitachi Appliances, Inc., Carrier Corporation, Thermax, Inc., Robur Corporation, Century Corporation, Yazaki Energy Systems Inc., EAW Energieanlagenbau GmbH, and LG Air Conditioning (Shandong) Co. Ltd.

The market intelligence experts have exposed the competitive landscape of the global offshore air handling units market in the report. This is done while taking into consideration the presence of major players across different segments and geographies. Buyers of the report have been provided with a thorough understanding of the market situation coupled with valuable recommendations to enter or cement their position in the industry.

Read TMR Research Methodology @:

https://www.transparencymarketresearch.com/methodology.html

Market segmentation based on geography:

This report gives access to decisive data, such as:

Key highlights of this report include:

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers or customers journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

Read Our Latest Press Release:

https://www.prnewswire.co.uk/news-releases/shift-from-conventional-fuels-to-new-hybrid-fuels-to-keep-the-environment-safe-for-future-shall-support-the-growth-of-global-cooling-tower-market-877991502.html

https://www.prnewswire.com/news-releases/increasing-demand-for-commercial-aircrafts-to-propel-sales-of-remote-electronic-unit-market-worth-us3-5-bn-by-2027-end-finds-tmr-301031571.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

Contact

Transparency Market Research State Tower,

90 State Street,

Suite 700,

Albany NY 12207

United States

USA Canada Toll Free: 866-552-3453

Email:sales@transparencymarketresearch.com

Website:https://www.transparencymarketresearch.com

Excerpt from:

Offshore Air Handling Units Market Report 2016 Includes Growth by Global with Industry Analysis, Size, Share, Trends, Key Vendors, Drivers and...

Offshore wind expert Ohleth named executive director at SIOW – ROI-NJ.com

Kris Ohleth has been named executive director of the Special Initiative on Offshore Wind, a policy group providing expertise, analysis, information sharing and strategic partnership support for key offshore wind stakeholders many of which are increasing their efforts in South Jersey.

Ohleth, a 15-year veteran in the offshore wind industry, previously served as senior manager of stakeholder engagement at rsted Offshore North America, the company that won New Jerseys first offshore wind solicitation in June 2019.

SIOW, based at the University of Delaware, has been as a clearinghouse for offshore wind policy and research taking a cross-sector approach and convening policymakers, industry, nongovernment organizations and other offshore wind stakeholders to better coordinate strategy, policy and industry developments.

SIOW founder Stephanie McClellan said shes pleased to be able to add Ohleth.

This is a pivotal time for U.S. offshore wind, and I am delighted Kris is taking the helm at SIOW, McClellan said. The offshore wind farms that are in the development queue will create thousands of good clean energy jobs and are critical to states achieving their climate goals. This is the moment to propel the industry forward, and Kris background makes her extremely well-positioned to lead SIOW during this important phase.

Ohleth will draw on the accumulation of her long history in the sector, which includes senior positions with environmental organizations and offshore wind energy companies.

Offshore wind provides a once-in-a-generation opportunity to help solve societal issues such as threats from climate change and a slowed economy, she said. I look forward to my new role at SIOW to support the responsible advancement of offshore wind.

David Hardy, CEO of rsted Offshore North America, said the company will miss Ohleth, but knows she is going to a good place.

SIOW does a great job of highlighting the economic and environmental benefits of our industry, he said. While we will miss Kris on our team, we know that SIOW is gaining an incredibly talented and driven offshore wind expert who is motivated by the launch of this new American industry.

View original post here:

Offshore wind expert Ohleth named executive director at SIOW - ROI-NJ.com

Offshore yuan, CNH, gains further, to its highest since mid-2018 – ForexLive

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.

Originally posted here:

Offshore yuan, CNH, gains further, to its highest since mid-2018 - ForexLive

Construction of World’s Largest Offshore Wind Farm Stays On Track – Offshore WIND

Around 20 per cent of foundations has been installed at the 1.4 GW Hornsea Two, which is soon to become the worlds largest offshore wind farm, rsted said.

The export cable installation works are on schedule and turbine installation is set to commence in the second half of this year, the projects owner and developer said.

Hornsea Twowill comprise165 Siemens Gamesa 8 MW wind turbines installed some 89 kilometres north-east of Grimsby, UK and scheduled to be fully commissioned in 2022.

DEMEs jack-up vessel Innovation has been deployed to install the wind turbine monopile foundations, with the monopiles fabricated by EEW and the transition pieces delivered by Bladt Industries (135) and EEW Special Pipe Constructions (30).

The construction team behind the Hornsea Two offshore wind farm has also this week taken part in its bi-annual rehearsal of concept (ROC) drill to plan the later stages of the projects installation.

Excerpt from:

Construction of World's Largest Offshore Wind Farm Stays On Track - Offshore WIND

rsted and PGE joint venture to develop offshore wind projects in Poland – Power Technology

Danish project operator rsted and Polish distribution company PGE Polska Grupa Energetyczna (PGE) have agreed to create a 50/50 construction and operation joint venture (JV).

The JV will oversee work on two offshore wind projects in the Baltic Sea.

The two projects, namely Baltica 2 and 3, will have a total potential capacity of up to 2.5GW.

Baltica 3 and Baltica 2 will have capacities of approximately 1GW and 1.5GW, respectively. The projects qualify for inclusion in Polands 2021 offshore wind allocation round.

Baltica 3 is the most advanced of the two projects and will come online in 2026.

A spokesperson for rsted said it will subscribe for new shares for 50% of the total share capital in PGEs two offshore wind projects.

The subscription price for the newly issued shares in the two offshore wind facilities is said to be equivalent to $177m (zl657m).

Completion of the deal is subject to regulatory approval and expected to take place in the first quarter of this year.

rsted and PGE say they have established a framework that enables both parties to effectively integrate and leverage strengths and expertise from both sides.

GlobalData's TMT Themes 2021 Report tells you everything you need to know about disruptive tech themes and which companies are best placed to help you digitally transform your business.

rsted also aims to significantly expand its on-the-ground presence in Poland through the JV.

rsted chief commercial officer and deputy group CEO Martin Neubert said: Poland is emerging as the front runner in offshore wind in the Baltic Sea and we are very excited to enter the Polish market with this joint venture with PGE.

This transaction brings together rsteds unparalleled track record in developing and constructing large-scale offshore wind farms with PGEs extensive knowledge of and experience in the Polish energy market and its regulatory framework.

Industrial Fans for Power Applications

28 Aug 2020

Tool Supply, Repair and Rental Services for the Electrical Transmission and Distribution Industry

28 Aug 2020

Read the rest here:

rsted and PGE joint venture to develop offshore wind projects in Poland - Power Technology

Two young kkp found dead on offshore islands – Stuff.co.nz

Two young kkp have died, one on Codfish Island/Whenua Hou and one on Anchor Island, bringing the total population of the critically endangered birds to 206.

Juvenile kkp Ptonga and Matakana were born in the 2019 breeding season, and died in October.

Their bodies were only recently discovered, too decomposed to determine the cause of death.

Department of Conservation science advisor Dr Andrew Digby said it was not unusual to lose the odd kkp around this age, but it was always sad news.

READ MORE:* The kkp season of stress and salvation: How scientists and supporters teamed up to take on killer disease* Kkp to head home from Auckland Zoo after lengthy battle with deadly disease* Kkp disease 'crisis' which garnered $200k in donations remains a mystery

With a growing kkp population, they did expect to see more deaths.

Chances of survival for the large, flightless parrots was much higher than under normal conditions, as they were closely monitored and catered for, but as populations grew, nesting spots and resources were in demand.

Matakana was one of the kkp affected by aspergillosis, and treated at the Wildlife Hospital in Dunedin, where she became well known for her suspicious glares at the team whenever she was approached.

Ptonga was a member of the Wind Dynasty, one of matriarch Nora's great-grandsons.

Brodie Philp/Supplied

Ptonga, who died on Anchor Island, was one of matriarch Nora's great-grandsons.

Digby said some of the juveniles were introduced to the island a lot later, due to the aspergillosis outbreak, meaning they were less prepared and unfamiliar with the terrain compared to others when it came to nesting season.

And the island is getting a bit full, he said.

There were around 70 kkp on each of the two islands, Digby said, and the entire population had seen a 70 per cent increase in the past five years 72 fledged in 2019 alone.

Kkp only bred every 2 to 3 years, so this spike was partly due to the abundance of rimu fruit over the past breeding period. Six of those 72 had died.

Obviously to lose a kkp is a real blow, Digby said, but it was great to see the population succeeding as a whole.

See the rest here:

Two young kkp found dead on offshore islands - Stuff.co.nz

South Korea to Build World’s Largest Offshore Wind Farm by 2030 – The Deep Dive

Last week, the South Korean government revealed that it had signed a $43 billion deal to construct what will become the largest offshore wind farm in the world.

To date, South Korea has limited energy sources of its own, and largely relies on imported coal for approximately 40% of its electricity. In May 2020 however, President Moon Jae-in announced that the Asian country would begin transitioning towards a carbon neutral economy, while also phasing out nuclear power, and instead becoming largely dependent on renewable energy. In a bid to meet its carbon neutrality goals by 2050, South Korea has agreed to invest some $43 billion towards building an offshore wind farm by 2030, according to Reuters.

South Koreas offshore wind farm will be built off Sinan, which is located in the southwest of the country. The complex is expected to be seven times larger than the current largest offshore wind farm, which is located in Britain and has a capacity of 1.12 GW. Once completed, the South Korean government is anticipating its offshore wind farm will boast a capacity of 8.2 GW, and will be the equivalent of six nuclear power stations.

The project is expected to involve up to 33 different entities, including regional governments, the electricity generator KEPCO, as well as numerous other private companies. However, Moon warned that it could be another five years before construction would even begin on the complex, but noted that the government will do its best at accelerating the process. Global offshore wind power capacity is expected to increase by approximately 37% this year, and will largely be driven by Chinese projects.

In addition, South Korea also plans on reducing its number of existing nuclear power plants from 24 to 17 by 2034. This will reduce the sectors energy output by almost half. Currently, South Koreas nuclear energy accounts for 19.2% of energy generation.

Information for this briefing was found via Reuters and Rystad Energy. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Link:

South Korea to Build World's Largest Offshore Wind Farm by 2030 - The Deep Dive

SSE Renewables and ODE Team Up Offshore UK and Ireland – Offshore WIND

Engineering technical consultancy ODE, part of the DORIS Group, has been awarded a framework agreement by SSE Renewables for Offshore Structural Design across multiple sites in the UK and Ireland.

With a contract duration up to three years, ODE will appoint a number of new secondees to work alongside its personnel from SSE Renewables UK and Irish offices and from ODEs own UK offices and headquarters.

The contract will involve key projects such as the Seagreen, Berwick Bank and Marrbank offshore wind farms in Scotland, which have a cumulative installed capacity of 3.2 GW, and the 800 MW Arklow Bank offshore wind farm in Ireland.

ODE and SSE personnel will collaborate on all project phases and on specific packages such as Concept Development, Technical Due Diligence and Fabrication Support.

This is an exciting opportunity for ODE to further support the UK offshore wind industry and for ODE to expand into the promising Irish offshore sector, David Robertson, ODEs Head of Renewables, said.

With our considerable expertise behind us, we look forward to building a strong relationship with SSE Renewables.

Read more from the original source:

SSE Renewables and ODE Team Up Offshore UK and Ireland - Offshore WIND

New offshore wind training facility could bring a boost to Salisbury’s economy – 47abc – WMDT

SALISBURY, Md. As the nation moves toward relying more on renewable energy, one local company is getting ready to provide training for those workers. Everybody needs to go through training, and its a lot of people at the same time. So in the end I think we will have delegates here from the whole country, said President of Arcon Training Center Katarina Ennerfelt.

Arcon Training Center will soon be one of the only places on the East Coast where people can get the safety training they need to become offshore wind workers. With our new administration we know that the alternative energy will be a whole different ball game, said Katarina.

Thats something that the Greater Salisbury Committee says could be a huge economic opportunity for the city of Salisbury. That would mean workers coming into the area for two to five days at a time, staying in our hotels, eating in our restaurants, shopping in our shops, said President and CEO of GSC Mike Dunn.

The facility offers four safety training modules, including training on moving material, equipment, or people safely. Trainees also learn about first aid and fire awareness, and how to safely scale and descend from great heights. We have four modules that were currently doing, one being the working at height. As you can see, we have the structure behind us where you learn to climb properly and be able to descend and also do some rescuing of people and equipment, said Arcon Project Manager and Engineer Christian Ennerfelt.

Some of the training equipment used in the modules already represents a boost to the local economy. Christian says a 24-foot steel structure used for training was the biggest investment for the companys training facility. The structure was made by Patriot Steel, based in Cambridge. Were trying to keep as much work as we can local. Its hard on the small details, but we do what we can to keep it locally here, said Christian.

Arcon is a family-owned company, that teamed up with the United Kingdoms leading wind training, AIS Training, to boost the wind training industry in the United States. Dunn says Katarina and Christians drive to expand their business is a perfect example of Salisburys entrepreneurial community. Small business and entrepreneurship is the drum beat and the back bone of the lower shore economy, said Dunn.

The facility was supposed to be completed in April of last year. But Katarina says COVID-19 threw a wrench in their plans. We didnt know when we could possibly get going. We didnt know when we could get the certification that we need to be able to train people, said Katarina.

Now that the work is complete and COVID-19 safety precautions are in place, Katarina says she and Christian are excited to get the ball rolling. By supplying this we are kind of adding on to the already existing skills training. Were generating economic development for the Eastern Shore, said Katarina.

Arcon tells 47ABC that over the past few weeks theyve been doing audit training courses. Those courses are monitored by the Global Wind Organization to make sure their training is up to snuff. So far, the company says theyve passed with flying colors. The company says they plan to open up their training classes completely in about two weeks. Thats after they get their final approval from the GWO. Katarina says theyre working toward having one module per week, with up to 12 students per class.

Katrina tells 47ABC theyre hoping to expand beyond that in the future. Plus, she says the company is currently working on their sea survival module. Those skills would come in handy for situations where a worker on a wind turbine at sea might be in danger.

Follow this link:

New offshore wind training facility could bring a boost to Salisbury's economy - 47abc - WMDT

Crowley Announces Offshore Wind Energy Partnership with Watco gCaptain – gcaptain.com

U.S.-based Crowley has announced a partnership with transportation services specialist Watco to create a single-source terminal and supply chain management system to support the growing number of offshore wind projects planned for the U.S. East Coast.

This partnership will provide turnkey services for the offshore wind industry in the area of terminal management, said Lynda Patterson, senior vice president of Logistics at Watco. Crowley and Watco will work together to leverage our respective expertise in logistics, project management, and energy support to create innovative solutions to meet full lifecycle project needs.

Watco owns and operates a network of short line railroads, terminals, ports, and mechanical shops, giving its customers single-point access to just about any form of transportation. The companys Green Port Industrial Terminals on the Houston Ship Channel is equipped to handle oversized offshore wind components and distribute them to projects across the country.

Crowley says it will provide its offshore logistics expertise through the utilization of its Jones Act-compliant fleet, engineering services and cross-over expertise in oil and gas, a sector it has operated in for more than 50 years. This will include the design and operation of service operation vessels (SOVs), crew transfer vessels (CTVs), turbine maintenance, offshore substation repair and maintenance, and additional services necessary to sustain offshore wind energy operations, according to Crowley.

The partnership comes after Crowley launched a New Energy division within its Crowley Shipping business unit to focus on the emerging offshore wind industry in the U.S. and LNG services. In launching the new division, Crowley said it seeks to become an offshore wind total lifecycle service provider, including transportation of turbines during construction, designs for industry-specific support vessels, shoreside terminaling, and supply chain services from farm construction through decommissioning.

Crowley and Watco are partnering to deliver safe, reliable, comprehensive lifecycle services for the offshore wind sector, said Jeff Andreini, vice president, New Energy division, Crowley. We understand that wind power companies entering the U.S. market have big needs, including infrastructure and supply chain. Weve engineered high performing equipment and logistics offerings to answer their needs, anchored by decades of experience to solve the challenges of both.

According to the American Clean Power Association, developers are expected to bring thirteen offshore wind projects online by 2026, delivering 9,100 MW of offshore wind power generation. It also estimates that offshore wind could create 83,000 well-paying jobs by 2030.

Read more from the original source:

Crowley Announces Offshore Wind Energy Partnership with Watco gCaptain - gcaptain.com

Dominion files plans with federal regulators for 2.6 GW offshore wind project, largest in US to date – Utility Dive

Dive Brief:

BOEM has a queue of construction and operations plans to review for offshore wind projects along the East Coast the regulator extended its timeline for considering Vineyard Wind's Massachusetts project,to better consider the projected growth of the wind resource in its leasing areas.

Dominion's filing includes construction, operations and conceptual decommissioning plans for activity 27 miles off the coast of Virginia Beach, as well as information about the onshore and support facilities that will be involved in the project.

The utility announced the filing on Friday, two days following an announcement with Virginia Governor Ralph Northam, D, concerning progress on the construction of offshore wind turbine installation vessels being made in the United States, in compliance with the Jones Act. The maritime commerce law requires vessels carrying goods between different points in the U.S. to be built, owned and operated by American citizens.

"Dominion Energy is proud to be leading a consortium of respected industry participants in the construction of the first Jones Act compliant offshore wind turbine installation vessel, which will provide significant American jobs, and provide a reliable, home-grown installation solution with the capacity to handle the next generation of large-scale, highly-efficient turbine technologies," Dominion President and CEO Robert Blue said during a press event.

The 2.6 GW offshore wind project is estimated to generate approximately $5 million per year in local and state tax revenue during construction, and almost $11 million annually once the project is complete, according to an analysis released by Dominion. An environmental impact study from Mangum Economics says the project would generate $143 million in economic impact per year during construction and $210 million annually during turbine operation.

Read the rest here:

Dominion files plans with federal regulators for 2.6 GW offshore wind project, largest in US to date - Utility Dive

Federal stimulus includes wind, solar tax credit extensions, adds first US offshore wind tax credit – Utility Dive

Dive Brief:

Congress on Monday passed another stimulus package as a response to the COVID-19 pandemic.

The package includes extensions on the solar and wind production tax credit (PTC) and investment tax credit (ITC), energy efficiency incentives, research and development "enhancements" for clean energy technologies and more, according to a joint statement from House Speaker Nancy Pelosi, D-Calif., and House Senate Minority Leader Chuck Schumer, D-N.Y.

The relief package is the second implemented this year, and the first to extend aid to the renewable energy industry. It also includes several provisions from the Senate's American Energy Innovation Act, championed by Sens. Lisa Murkowski, R-Alaska, and Joe Manchin, D-W.Va., earlier this year, as well as from the House's companion bill. The inclusion marks the first time in 13 years Congress has passed comprehensive energy policy.

The clean energy industry, including energy efficiency, electric vehicle, storage and renewables advocates, have been vying for aid since the pandemic's early days.

Democrats as early as March urged Congress to include renewable energy relief that would extend tax credits for wind and solar or convert the credits to direct pay. Though none of those provisions were included in the first round of stimulus, following opposition from President Donald Trump and Senate Majority Leader Mitch McConnell, support for clean energy inclusion has been building.

The Internal Revenue Service ultimately extended safe harbor deadlines for renewable energy projects at risk of losing funding due to supply chain and other disruptions. And Republicans in July joined in urging congressional leadership to consider extending more aid and stimulus to the renewable energy industry.

The Senate also grew closer to passing its comprehensive energy innovation bill that provides research and development grants for a number of clean energy technologies, including wind, solar, storage, carbon capture and nuclear. But the American Energy Innovation Act does not include many of the wind and solar industry's critical asks including tax credit extensions and the industry was hoping to see Congress get more done for them by the end of the year.

The omnibus legislation will extend the PTC and ITC for land-based wind for one year at 60% of the project's full value, extend the solar ITC two years at 26% and give offshore wind projects for the first time a 30% ITC for projects that began construction starting Jan. 1, 2017 through Dec. 31, 2025. It also extends the tax credit for carbon capture by two years. Renewables advocates had hoped to convert the tax credits into direct payments, but were broadly pleased with the tax credit extension.

"We appreciate that Congress has recognized clean energy's significant contributions to our nation's economy and role in providing jobs and investments during the recovery from the COVID-19 pandemic," said Heather Zichal, CEO of the American Clean Power Association in a statement.

The bill also extends credits for energy efficient homes up to $2,000 for new energy efficient homes through 2021, and spends $1.7 billion reauthorizing the Weatherization Assistance Program that now considers renewable energy installations a weatherization measure.

For energy storage, it will reduce the costs of short-term, long-term, seasonal, and transportation energy storage technologies through a $1.08 billion investment over five years. Storage advocates had been pushing for a standalone tax credit, but the Energy Storage Association said it was pleased the the Better Energy Storage Technology Act was included in the package.The package also includes $2.36 billion for smart grid technology.

Finally, the omnibus bill would provide billions of dollars in clean energy research and development, including $1.5 billion for solar and $625 million for wind. It also includes R&D for advanced nuclear, carbon capture and storage, carbon removal and more. The provisions of the American Energy Innovation Act and Clean Economy Jobs and Innovation Act are being dubbed "The Energy Act of 2020."

"The Energy Act of 2020 provides a down payment on the technologies that will be critical to reducing greenhouse gas emissions in the power sector, industry, and buildings and addressing climate change," said Manchin in a statement."This focus on research, development, and demonstration will create high quality jobs and ensure the United States continues to lead the world in the clean energy future."

The package was broadly praised by business, clean energy and climate interests, but some environmental advocates were critical of the bill's support for carbon capture and a provision that would allow for reprocessing nuclear waste.

[O]verall, the bill is a mixed bag because of provisions that prop up dirty fuels and unsafe technologies," said John Bowman, managing director for government affairs at Natural Resources Defense Councilin a statement. "Given President-elect Bidens historic commitment to address our climate crisis, welook forward to working with him and the new Congress to promote the genuine clean-energy transition we need.

"Why does the business community stand so strongly behind this bill? Because we know that the development and commercialization of technology is the single most important factor that will determine how quickly and at what cost greenhouse gas emissions can be reduced around the world," said Marty Durbin, senior vice president of policy at the U.S. Chamber of Commerce, in a statement. "No emissions goal or degree target will matter if the technology essential to meet it is not developed and deployed."

Here is the original post:

Federal stimulus includes wind, solar tax credit extensions, adds first US offshore wind tax credit - Utility Dive

Eni and PTTEP Awarded Third Block Offshore UAE – Journal of Petroleum Technology

Source: Abu Dhabi National Oil Company

The Abu Dhabi National Oil Company (ADNOC) announced today that it has awarded an offshore exploration concession to Italys Eni and Thailands PTT Exploration and Production (PTTEP).

Eni will operate Offshore Block 3 during the exploration phase and, along with its partner PTTEP, will be required to spend at least $412 million locating potential targets and drilling appraisal wells. The figure also includes a participation fee.

This award follows the one achieved by the same consortium in 2019 for offshore exploration Blocks 1 and 2 and represents a further important step towards the realization of Enis strategy to become a leading actor in the development and production in Abu Dhabi, Claudio Descalzi, CEO of Eni, said in the announcement.

He added that, Offshore Block 3 represents a challenging opportunity that can unlock significant value thanks to exploration and appraisal of shallow and deep reservoirs.

Located northwest of Abu Dhabi, Offshore Block 3 covers an offshore area of about 11,660 km2 (~4,500 sq mi) that has been partially surveyed with 3D seismic. ADNOC said because the southern edge of the block borders existing onshore oil and gas fields that it has promising potential.

Upon making a commercial discovery, production rights will be granted for up to 35 years. ADNOC holds rights to claim a 60% stake in the production phase of the concession.

Despite volatile market conditions, we are making very good progress in delivering Abu Dhabis second competitive block bid round, underscoring our world-class resource potential and the UAEs stable and reliable investment environment, Sultan Al Jaber, CEO of ADNOC Group, said in the statement.

Part of Enis and PTTEPs financial commitment will help fund ADNOCs mega seismic survey that is already underway in the block area.

This worlds largest 3D seismic survey is deploying industry-leading technologies to capture high-resolution 3D images of the complex geology at ultra-deep locations below the surface and will be used to identify potential hydrocarbon reservoirs, said ADNOC in its announcement of the award.

Eni and PTTEP won their first two offshore concessions from ADNOC during its first competitive bid round in January 2019. The two companies are in the middle of exploring for potential targets in these concessions, known as Offshore Block 1 and Offshore Block 2.

Earlier this month, ADNOC awarded an onshore concession to Occidental Petroleum covering an area of more than 4,200 km2 (~1625 sq mi).

Source: Abu Dhabi National Oil Company

Continue reading here:

Eni and PTTEP Awarded Third Block Offshore UAE - Journal of Petroleum Technology

NOV to upgrade Wind Orca’s crane | Offshore – Offshore Oil and Gas Magazine

Offshore staff

COPENHAGEN, Denmark Cadeler (formerly Swire Blue Ocean) has contracted NOV to install a new crane on the windfarm installation vessel Wind Orca.

The new crane is expected to have a lifting capacity of 1,600 metric tons (1,764 tons) at a radius of 40 m (131 ft), with the main hook at a height of 159.7 m (524 ft) above the main deck. This will enable installation of next generation (more than 14 MW) offshore wind turbines, Cadeler said.

Its current crane has a 1,200-metric ton (1,323-ton) lifting capacity at a radius of 31 m (102 ft).

The crane replacement on the Wind Orca is expected to start in October 2023, with completion in March 2024.

Cadeler has also secured an option in the contract to replace the crane on the windfarm installation vessel Wind Osprey. The total sum of the contract for replacement of both cranes is $102 million, including decommissioning of the old cranes, as well as the design, manufacturing, and installation of the new cranes.

12/22/2020

Read the original post:

NOV to upgrade Wind Orca's crane | Offshore - Offshore Oil and Gas Magazine