As national carbon-neutral targets come into focus, Asia Pacific solar photovoltaic (PV) capacity could triple by 2030 to 1500 gigawatts (GW), with Indonesia potentially the fastest expanding market by the end of the decade, according to new research from Wood Mackenzie.
Santos chief executive Kevin Gallagher warned oil and gas industry leaders that achieving net zero emissions will be crucial for the natural gas industry to avoid coal’s fate of being shunned by equity investors and lenders.
Maersk Drilling has won a contract worth $34million (£24.6m) with Shell Malaysia.
News that South Korea aims to build the world’s largest offshore wind farm by 2030 follows moves by major exploration and production companies to establish a foothold in the nascent market.
Maersk Drilling has won a £10.5million contract with Korea National Oil Corporation (KNOC).
Brexit is threatening to spoil the appeal of the UK’s crude in the world’s biggest regional oil market.
The United Arab Emirates, with help from Korea Electric Power Corp., finished building the Arab world’s first commercial nuclear reactor, a milestone in the oil-rich U.A.E.’s effort to curb its reliance on fossil fuels and develop cleaner sources of energy.
Daewoo Shipbuilding & Marine Engineering in South Korea is set to sell non-core assets and will shut down or exit its non-essential units as part of restructuring after a being hit with losses in the second quarter.