UAE Discovers Offshore Gas Reserves for the First Time

As the UAE seeks to attain self-sufficiency in the field of gas, it revealed on Thursday that the country had discovered its first gas reserves from an offshore exploration concession.

The Abu Dhabi National Oil Company announced that around 42.5 billion to 56.5 billion cubic meters of ...

Thailand’s Navy Cleaning Up Offshore Oil Spill

On Wednesday, Thailand’s navy worked to clean up 128 tons of crude oil spills that had leaked from an oil pipeline in the Gulf of Thailand.

The director-general at the Ministry of Natural Resources and Environment, Attapol Charoenchansa, of the Pollution Control Department said th...

Tiwi Islanders Worry Over Australia's Newest Gas Projects

Traditional Owners of the Tiwi Island have written a letter to the Japanese energy company that has invested in an offshore gas project near the island in the Timor Sea to pull out. 

The Barossa gas field lies at a distance of almost 100 kilometers from the Tiwi Islands and a gas p...

Power Fail at Shell’s Giant LNG Vessel

The only offshore LNG plant of Australia had to evacuate 150 workers when the power failed on its 24-billion-dollar Prelude gas vessel. Shell had to use helicopters and ships for rescue purposes. 475 kilometers from Broome, Western Australia, the giant Prelude floating vessel saw repeated power f...

ORSTED WILL WORK WITH SOUTH KOREAN STEEL GIANT

Highlights:

• Orsted, energy firm Denmark, has signed a memorandum of understanding (MoU) with South Korean steel giant POSCO to focus on offshore wind and renewable hydrogen.
• Major steel producer POSCO and its affiliates would support the development o...

AUSTRALIA’S INSURANCE REGULATOR PROPOSED EXPOSURE LIMITS OF LIFE INSURERS TO OFFSHORE REINSURERS

Highlights:

• The insurance regulatory body of Australia proposed exposure limits of the life insurers to the offshore re-insurers
• The APRA said that, it had been starting a consultation period for setting a standard
• The APRA is also planning...

DOOSAN FUEL CELL TO DEVELOP SOFCs USED FOR SHIPS WITH KSOE

Highlights –

• Doosan Fuel Cell to develop SOFCs used for ships with KSOE.
• Under the deal, Doosan Fuel Cell is said to design and produce fuel cells.
• KSOE is said to develop technologies that will be used to apply the fuel cells to ship...

BECHTEL TO PARTNER WITH HEXICON TO ACCELERATE OFFSHORE WIND ENERGY IN UK

Highlights:

• Bechtel to support offshore wind energy technology for accelerating the production of offshore wind energy in United Kingdom
• This project is going to be further bolster the country as a world leader in the production of offshore wind energ...

UK: GOVERNMENT TO INVEST 90 MILLION POUNDS IN STORAGE AND FLOATING WIND ENERGY

Highlights:

• The government of United Kingdom is going to be investing 90 million pounds in the storage and floating of wind energy
• The energy storage and floating offshore wind is going to be benefiting from the investment of 68 million pounds and 20 ...

REPORT: OFFSHORE RENEWABLE ENERGY IN UK NEEDS BETTER CO-ORDINATION

Highlights:

• According to the reports, the offshore renewable energy in the United Kingdom will be needing more co-ordination
• The government of the United Kingdom has set a target for the installation of 40 gigawatt of the offshore wind energy by 2030<...

TOSHIBA CORP. TO JOINTLY PRODUCE EQUIPMENT FOR WIND POWER GENERATION WITH GE

Highlights –

• Toshiba Corp. to jointly produce equipment for wind power generation with GE.
• The equipment houses a generator and other components of a wind turbine.
• Toshiba plans to expand its renewable energy business to $6.1 billion ...

S. KOREAN SHIPBUILDERS HAVE INCREASED ORDER TARGETS BY 40% IN 2021

Highlights –

• S. Korean shipbuilders have increased order targets by 40% in 2021.
• KSOE set an annual combined order target of its three units at US$14.9 billion in 2021.
• Samsung Heavy Industries Co. aims to win new orders worth $7.8 bi...

ENERGY INDUSTRY OF EUROPE SEEKS GOVERNMENT HELP TO TAP OFFSHORE WIND ENERGY SHARE

Highlights:

• The energy industry of Norway has been seeking the government help for tapping the offshore wind energy share
• Norway has been relatively late for entering into the offshore wind energy

On Tuesday, an alliance of oil and r...

JAPAN NATIONAL TAX AGENCY RECIEVES DETAILS ON 2.06 MIILION OFFSHORE ACCOUNTS

Highlights –

• Japan National Tax Agency receives details on 2.06 million offshore accounts.
• The accounts are held by Japanese individuals and corporations in 86 countries and regions.
• The total balance held in the accounts amounted to ...

EUROPEAN UNION GRANTS 5 MILLION EURO FOR OFFSHORE GREEN HYDROGEN PROJECT

Highlights:

• The European Union have granted the Funding for the offshore green hydrogen project
• The European Union has granted 5 million euros to the Fuel Cells and Hydrogen 2 Undertaking project

The Fuel Cells and Hydrogen 2 Joint U...

POSCO INTERNATIONAL TO SHELL OUT 108 BILLION WON FOR OFFSHORE DRILLING IN GAS FIELDS OFF MYANMAR

• POSCO International is all keyed up to invest 108.6 billion won to explore new gas fields in Myanmar.
• POSCO International will carry out speculative drilling at the Mahar area of the A-3 Mining District in northwestern Myanmar.

Currently, a bevy of companies i...

EUROPEAN UNION CONSIDERS INCREASING THE CAPACITY OF ITS OFFSHORE WIND ENERGY

Highlights:

• The European Union is considering a plan for increasing the capacity of its offshore wind energy
• A draft said that, the European Union should aim for 60 gigawatts of the offshore wind energy by the year 2030

According to ...

BORIS JOHNSON PLANS TO POWER UNITED KINGDOM WITH OFFSHORE WIND ENERGY BY THE YEAR 2030

Highlights:

• The Prime Minister of the United Kingdom is going to present a plan to power United Kingdom with wind energy by the year 2030
• Boris Johnson has pledged to make the novel corona virus pandemic a catalyst for the green growth

OFFSHORE RENEWABLE ENERGY STRATEGY IS TAKING SHAPE IN EUROPE

Highlights:

• The strategy of Europe for the offshore renewable strategy is taking its shape after the corona virus pandemic
• The European Commission is preparing a strategy for tackling the various forms of energy which the sea and ocean can provide

INDIA TO TAKE ON OFFSHORE CURRENCY MARKETS AMID CORONAVIRUS

Highlights:

• Reserve Bank of India (RBI) has allowed local banks to participate in the offshore market from June 1, 2020.
• Two exchanges- India international exchange Ltd. (IFSC) and NSE IFSC Ltd. will begin trading of foreign exchange settled rupee der...