Key Insights and Signals in Energy & Utilities
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Centre Setup and Expansion
Essar to build USD 430 Mn carbon capture facility at Stanlow refinery in the UK
The company plans to construct a carbon capture and storage facility at its Stanlow refinery in the industrialized area of Ellesmere Port, Cheshire, in the UK, with an investment of 360m. The investment forms part of the firm’s wider plan to invest over USD 1 Bn in energy efficiency, fuel-switching, and carbon capture initiatives to decarbonize its production processes by 2030. Read More>>
AECL and CNL break ground on a new nuclear research facility
The two companies officially established the Advanced Nuclear Materials Research Centre at the Chalk River Laboratories. Scheduled for completion in the spring of 2028, the ANMRC is a state-of-the-art research complex that will be one of the largest nuclear research facilities ever built in Canada. Read More>>
TotalEnergies and partners to build a wind farm in Kazakhstan
The company has signed agreements with Samruk-Kazyna and KazMunayGas to develop a 1GW wind farm in Kazakhstan. The company’s affiliate, Total Eren, will develop the Mirny project, which is claimed to be the largest wind energy project ever built in Kazakhstan. The project will feature 200 wind turbines and a 600MWh battery storage system. Read More>>
Deals
Venezuela, Chevron formally signed oil contracts in Caracas
The company signed contracts with U.S. oil firm Chevron Corp to help revive the nation’s oil output and expand operations. The agreements are expected to help restore lost production, recoup debt owed to Chevron, and generate more jobs. The projects currently produce about 100,000 barrels per day of crude, leaving room for a rapid increase. Read More>>
Statkraft and Fastweb sign 12-year solar PPA in Italy
The two companies have signed an exclusive Power Purchase Agreement to supply electricity produced by renewable sources. The 12-year agreement covers the output of a photovoltaic plant to be constructed in the Lazio province of the Latina region. Read More>>
Transocean wins two ultra-deepwater drillship contracts
The company recently declared that it won two drilling contracts for its ultra-deepwater drillships Deepwater Corcovado and Deepwater Orion for work offshore Brazil with a national oil firm. The contract is anticipated to commence in the third quarter of 2023 in direct continuation of the rig’s current contract. Read More>>
Partnerships
Baker Hughes and Woodside join forces for natural gas decarbonization
The two companies have entered into a memorandum of understanding to explore initiatives that may have the potential to support Woodside’s climate strategy and decarbonization pathways. Under the MoU, the parties will identify opportunities for potential collaboration, including projects in Australia, Asia, and the United States. Read More>>
Cameron LNG signs MoU with Entergy to reduce emissions from electricity
Cameron LNG entered an MoU with Entergy Corp’s unit to negotiate terms for a new electric service agreement. The MOU comes with a framework for Entergy and Cameron to sign a minimum 20-year deal for procuring new renewable generation resources in Louisiana. Read More>>
Executive Movement
Scatec appointed Hans Jakob Hegge as the new Chief Financial Officer
The company named Hans Jakob Hegge as the company’s Chief Financial Officer. Hegge will take on the new role as of March 1, 2023. Hegge has experience in senior leadership positions from both finance and operations, roles that are well suited for Scatecs growth journey. Since 2021, Hegge has held the position of CFO in Moreld. Read More>>
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Latest Industry Insights from Draup Braindesk
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Funding Alert
Aker BP to invest USD 19 Bn in offshore oil projects in Norway
Aker BP will develop new projects offshore Norway by 2028, raising its initial capital expenditure plan by 20%, mostly due to cost inflation. Oil and gas operators offshore Norway have ramped up production and project developments to supply more oil and gas to Europe in the absence of Russian energy supply. Read more>>
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Startup Spotlight
Company – VoltStorage
Total Funding – USD 37.48 Mn
About: VoltStorage develops and produces solar energy storage systems based on the eco-friendly Redox Flow technology to store surplus solar energy by day and use it during periods of low sunshine. VoltStorage makes 100% renewable energy available around the clock. Read more>>
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