Energy

Energy industry news - solar, wind, hydroelectric, natural gas, petroleum.

Canada becomes global leader in green energy incentives, boosting project value by as much as 50%

AJOT Newsroom | April 27, 2023 | Energy | Alternative | Green Shipping

Canada’s new renewable energy investment tax credit (ITC), unveiled in the 2023 federal budget, will make the country a global leader in favorable financial conditions for green energy projects. Rystad Energy’s renewable economic modeling shows that these new tax breaks will raise the value of some projects by more than 50% over their lifetime, positioning Canada as the second most attractive place for renewable developers, behind only the US.

Singapore, Long Beach, L.A. Ports to establish green, digital shipping corridor with a signed MoU

The Maritime and Port Authority of Singapore (MPA), Port of Long Beach and Port of Los Angeles, with the support of C40 Cities, signed a memorandum of understanding today to establish a green and digital shipping corridor between Singapore and the San Pedro Bay ports complex to support the decarbonization of the maritime industry and improve efficiencies through digitalization.

Biden threatens to veto bill to lift moratorium on solar tariffs

Bloomberg | April 26, 2023 | Energy | Alternative | International Trade

President Joe Biden is threatening to veto legislation that would re-instate tariffs as high as 254% on solar panels imported from Southeast Asia, the White House said Monday.

Oil drops most since bank crisis as macro winds erase OPEC gains

Bloomberg | April 26, 2023 | Energy

Haizea makes major investment in PEMA welding automation equipment for XXXL monopile production

Pemamek Ltd., a leading welding and production automation provider, has won a major order to supply production automation machinery for Haizea Wind Group, a top producer of large metal structures for wind turbines located in Bilbao, Spain.

Russia’s fuel shipments show little sign of sanctions strain

Bloomberg | April 26, 2023 | Energy | Maritime | Bulk

Russia’s exports of fuels such as diesel and gasoline are on course to remain well above seasonal norms this month despite European Union sanctions that recently came into force.

TotalEnergies Marine Fuels and the cruise division of MSC Group complete first LNG bunkering operation in Marseille for MSC Cruises’ MSC World Europa

TotalEnergies Marine Fuels and the Cruise Division of MSC Group have successfully completed the first Liquefied Natural Gas (LNG) bunkering operation at the Port of Marseille Fos, Southern France, for MSC Cruises’ MSC World Europa.

RINA awards AIP for ammonia-fueled bunker tanker

RINA has issued an Approval-in-Principle (AiP) for the design of a 21,000 (cbm) ammonia bunker tanker jointly developed by SeaTech Solutions and Fratelli Cosulich Bunkers Singapore.

Brent on a macro-driven rollercoaster since erasing OPEC+ gains

Bloomberg | April 26, 2023 | Energy

DNV joins Standards working group on methanol bunkering as interest in low-carbon fuels for shipping surges

DNV has joined a working group on methanol bunkering, managed by the Standards Development Organisation at Singapore Chemical Industry Council (SCIC-SDO), the classification society announced at Singapore Maritime Week. The multi-stakeholder working group will develop a Technical Reference (TR) for methanol bunkering for Singapore, the world’s largest bunkering hub.

TOP Ships Inc. announces receipt of Nasdaq notice

AJOT Newsroom | April 26, 2023 | Energy | Maritime | Bulk

TOP Ships Inc. (the “Company”), an international owner and operator of modern, fuel efficient "ECO" tanker vessels, announced today that it has received written notification from The Nasdaq Stock Market (“Nasdaq”) dated April 21, 2023, indicating that because the closing bid price of the Company's common stock for the last 30 consecutive business days was below $1.00 per share, the Company no longer meets the minimum bid price requirement for the Nasdaq Capital Market, set forth in Nasdaq Listing Rule 5550(a)(2).

Imperial Petroleum announces the full repayment of all outstanding loans

AJOT Newsroom | April 26, 2023 | Energy | Maritime | Bulk

Imperial Petroleum Inc. (the “Company”), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, announced today that the Company recently repaid early and in full its sole remaining loan with a $16.0 million outstanding balance from Alpha Bank.

U.S. coal shipments increased slightly in 2022 as power plants replenished stockpiles

AJOT Newsroom | April 26, 2023 | Energy

The amount of coal received by power plants in the United States has largely declined over the past decade as coal-fired electricity generation has fallen and many coal-fired power plants have closed.

Biden climate vow imperils Indonesian oil refinery loan

Bloomberg | April 26, 2023 | Energy

Stellar quarter: Big three OFS giants cheer sparkling 1Q results - Rystad Energy’s special market update

AJOT Newsroom | April 26, 2023 | Energy

SLB, Baker Hughes and Halliburton are on course for strong financial performances in the coming quarters after the trio of oilfield services (OFS) giants all posted a sparking set of results for the first three months of the year. All three posted improved topline numbers, margins and cash flow in the first quarter as against the comparable period a year earlier.

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