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Equinor first quarter 2024 results

Retrieved on:

Thursday, April 25, 2024

USD, Use, Buzzard, EQNR, Midstream, Power, Investment, Sleipnir, Marketing, Communication, MMP, Kilowatt-hour, Vito, Public expenditure, Tax, Senior, LNG, Empire, Prandtl number, NCS, Growth, Renewable energy

Equinor (OSE: EQNR, NYSE: EQNR) delivered adjusted operating income* of USD 7.53 billion and USD 2.57 billion after tax in the first quarter of 2024.

Key Points:

Equinor (OSE: EQNR, NYSE: EQNR) delivered adjusted operating income* of USD 7.53 billion and USD 2.57 billion after tax in the first quarter of 2024.
Anders Opedal, President and CEO of Equinor ASA:
“Equinor delivered solid financial results driven by strong operational performance across the business.
In the first quarter, Equinor produced 774 GWh from renewables, up 48% from the same quarter last year.
The first tranche of the share buy-back programme for 2024 was completed on 2 April 2024 with a total value of USD 1.2 billion.

Aker Carbon Capture awarded FEED for Hafslund Oslo Celsio's CCS project on their waste-to-energy plant at Klemetsrud in Norway

Retrieved on:

Friday, November 24, 2023

Carbon, CCS, FEED, FID, Engineering, Just, Investment, CO2, Heat, Aker Solutions, Incineration, Sleipnir, Renewable energy, Longship, Klemetsrud Church

OSLO, Norway, Nov. 24, 2023 /PRNewswire/ -- Aker Carbon Capture, together with Aker Solutions, has been awarded a full FEED by Hafslund Oslo Celsio (Celsio), the largest supplier of district heating in Norway, to develop carbon capture at their waste-to-energy facility at Klemetsrud in Oslo, Norway.

Key Points:

OSLO, Norway, Nov. 24, 2023 /PRNewswire/ -- Aker Carbon Capture, together with Aker Solutions, has been awarded a full FEED by Hafslund Oslo Celsio (Celsio), the largest supplier of district heating in Norway, to develop carbon capture at their waste-to-energy facility at Klemetsrud in Oslo, Norway.
The waste incineration plant at Klemetsrud is the largest carbon emitter in Oslo and is responsible for 17 % of the capital's fossil carbon emissions.
The Celsio CCS project is part of Longship, the Norwegian Government's carbon capture and storage project, which will also include CO2 captured at Heidelberg Materials' cement plant in Brevik, where the carbon capture plant is delivered by Aker Carbon Capture and Aker Solutions.
"We are pleased to have Aker on board for the journey towards realization of our carbon capture project.

Aker Carbon Capture awarded FEED for Hafslund Oslo Celsio's CCS project on their waste-to-energy plant at Klemetsrud in Norway

Retrieved on:

Friday, November 24, 2023

Carbon, CCS, FEED, FID, Engineering, Just, Investment, CO2, Heat, Aker Solutions, Incineration, Sleipnir, Renewable energy, Longship, Klemetsrud Church

OSLO, Norway, Nov. 24, 2023 /PRNewswire/ -- Aker Carbon Capture, together with Aker Solutions, has been awarded a full FEED by Hafslund Oslo Celsio (Celsio), the largest supplier of district heating in Norway, to develop carbon capture at their waste-to-energy facility at Klemetsrud in Oslo, Norway.

Key Points:

OSLO, Norway, Nov. 24, 2023 /PRNewswire/ -- Aker Carbon Capture, together with Aker Solutions, has been awarded a full FEED by Hafslund Oslo Celsio (Celsio), the largest supplier of district heating in Norway, to develop carbon capture at their waste-to-energy facility at Klemetsrud in Oslo, Norway.
The waste incineration plant at Klemetsrud is the largest carbon emitter in Oslo and is responsible for 17 % of the capital's fossil carbon emissions.
The Celsio CCS project is part of Longship, the Norwegian Government's carbon capture and storage project, which will also include CO2 captured at Heidelberg Materials' cement plant in Brevik, where the carbon capture plant is delivered by Aker Carbon Capture and Aker Solutions.
"We are pleased to have Aker on board for the journey towards realization of our carbon capture project.

EPA’s crackdown on power plant emissions is a big first step – but without strong certification, it will be hard to ensure captured carbon stays put

Retrieved on:

Tuesday, May 16, 2023

That raises an important question: Once carbon dioxide is captured and stored, how do we ensure it stays put?

Key Points:

That raises an important question: Once carbon dioxide is captured and stored, how do we ensure it stays put?
Power plants that burn fossil fuels, such as coal and natural gas, release a lot of carbon dioxide.
We work on carbon capture and storage technologies and policies as a scientist and an engineer.

EPA’s proposed carbon crackdown

The proposed new power plant rules, announced by the Environmental Protection Agency on May 11, 2023, are based on performance standards for carbon dioxide releases.
Power plant owners could meet the proposed standards in any number of ways, including by shutting down fossil fuel-powered plants and replacing them with renewable energy such as solar or wind.

How CCS works for power plants

At most storage sites, CO₂ is injected into underground reservoirs, typically in porous rocks more than 3,300 feet (1,000 meters) below the surface.
Geologists look for sites with multiple layers of protection, including impermeable rock layers above the reservoir that can prevent gas from leaking out.
In some sites, CO₂ chemically reacts with minerals and is eventually immobilized as a solid carbonate.
But as more CCS projects are built – helped by some generous tax credits in the 2022 Inflation Reduction Act – costs are likely to drop.

How to effectively certify carbon storage

However, the current monitoring techniques don’t measure the amount of carbon stored, and the rules do not require that leaked carbon be replaced.
We envision liability for the captured carbon dioxide shifting from the power plant owner to the storage site operator once the carbon dioxide is transferred.
Under the framework, a certificate authority would vet storage operators and issue certificates of carbon sequestration for stored carbon.
Certification can be useful for carbon stored in any quantifiable storage reservoir, including trees, oceans and human infrastructure such as cement.

AI can process more information than humans – so will it stop us repeating our mistakes?

Retrieved on:

Wednesday, April 26, 2023

As many people have also pointed out, the only thing we learn from history is that we rarely learn anything from history.

Key Points:

As many people have also pointed out, the only thing we learn from history is that we rarely learn anything from history.
People engage in land wars in Asia over and over.
One issue is forgetfulness and “myopia”: we do not see how past events are relevant to current ones, overlooking the unfolding pattern.
That means that the next time a similar situation comes around, we do not see the similarity – and repeat the mistake.

The annoying power of technology

Tickets here: 20% off with code CONVERSATION23 Storing information is useful when it can be retrieved well.
But remembering is not the same thing as retrieving a file from a known location or date.
An artificial intelligence (AI) also needs to be able to spontaneously bring similarities to our mind – often unwelcome similarities.
That means it will warn us about things we do not care about, possibly in an annoying way.
We make technology more complex until it becomes too annoying or unsafe to use.
This ultimately makes the technology less reliable than it could be.

Mistakes will be made

The more complex it is, the more fantastic the mistakes can be.
This is also a profound reason to worry about AI guiding decision-making: they make new kinds of mistakes.
We humans know human mistakes, meaning we can watch out for them.
They mimic the biases and repeat the mistakes from the human world, even when the people involved explicitly try to avoid them.
Our aim should be to survive and learn from our mistakes, not prevent them from ever happening.

CGG and TGS Announce Sleipner OBN Multi-Client Survey on the Norwegian Continental Shelf

Retrieved on:

Thursday, December 22, 2022

Sleipnir, 3D, HPC, AUR, OBN, Utsira, CGG, Geology, Acquisition, ILX, Continental shelf, Hydrocarbon, Norwegian continental shelf, NCS, TGS, Intelligence, Surveying, Utgard

CGG, a global technology and HPC leader, and TGS, a global provider of energy data and intelligence, have been jointly awarded the acquisition and imaging of a dense ocean bottom node (OBN) multi-client seismic survey in the Sleipner Area of the Norwegian Continental Shelf (NCS).

Key Points:

CGG, a global technology and HPC leader, and TGS, a global provider of energy data and intelligence, have been jointly awarded the acquisition and imaging of a dense ocean bottom node (OBN) multi-client seismic survey in the Sleipner Area of the Norwegian Continental Shelf (NCS).
The Sleipner OBN survey, located directly south of the Utsira OBN in the North Sea, will span an additional 1,201 square kilometer area under receivers (AUR) to increase the contiguous multi-client OBN coverage in the region to 3,278 square kilometers AUR.
The survey area covers a mature part of the North Sea that includes the Sleipner East, Sleipner West, Gina Krog, Volve and Utgard fields, as well as surrounding infrastructure-led exploration (ILX) areas for potential tiebacks to existing infrastructure.
Sophie Zurquiyah, CGG CEO, said: “CGG has an unrivalled track record of successfully conducting OBN seismic imaging projects around the world and in the North Sea in particular.

A New Dawn for CCUS After Five Decades of Ups and Downs

Retrieved on:

Wednesday, November 23, 2022

However, despite the critical importance of the technology and substantial development to date, CCUS deployment has been slower than anticipated.

Key Points:

However, despite the critical importance of the technology and substantial development to date, CCUS deployment has been slower than anticipated.
For further information on the CCUS market and its technologies, please refer to IDTechEx's report " Carbon Capture, Utilization, and Storage 2021-2040 ".
CCUS capacity growth has been around 2.3Mtpa of added capacity since 2010, with annual capture capacity reaching 41Mtpa of CO in 2020.
The first industrial large-scale CCUS project commenced operation about 50 years ago at the Val Verde natural gas processing plant in Texas, US.

A New Dawn for CCUS After Five Decades of Ups and Downs

Retrieved on:

Wednesday, November 23, 2022

However, despite the critical importance of the technology and substantial development to date, CCUS deployment has been slower than anticipated.

Key Points:

However, despite the critical importance of the technology and substantial development to date, CCUS deployment has been slower than anticipated.
For further information on the CCUS market and its technologies, please refer to IDTechEx's report " Carbon Capture, Utilization, and Storage 2021-2040 ".
CCUS capacity growth has been around 2.3Mtpa of added capacity since 2010, with annual capture capacity reaching 41Mtpa of CO in 2020.
The first industrial large-scale CCUS project commenced operation about 50 years ago at the Val Verde natural gas processing plant in Texas, US.

Tyra II: Successful Lift of Process Module

Retrieved on:

Tuesday, October 4, 2022

Energy, TEG, DUC, Heerema Marine Contractors, Sleipnir, Lifting, Natural gas, Tyra, Prefabrication, Noreco

OSLO, Norway, Oct. 4, 2022 /PRNewswire/ -- Norwegian Energy Company ASA ("Noreco" or the "Company") is pleased to announce the successful offshore lift and of the Tyra II process module (the "TEG") at 08:27local time this morning.

Key Points:

OSLO, Norway, Oct. 4, 2022 /PRNewswire/ -- Norwegian Energy Company ASA ("Noreco" or the "Company") is pleased to announce the successful offshore lift and of the Tyra II process module (the "TEG") at 08:27local time this morning.
The 17,000 metric tons process module was safely lifted onto the waiting jackets and installed by Heerema Marine Contractors' Sleipnir the world's largest crane vessel.
Following the successful lift, all eight platforms are now in their final position, and Tyra II is several steps closer to producing valuable natural gas for decades.
"We are proud to announce the final major offshore lift and installation which marks important progress of the Tyra Redevelopment project.

CGG: CGG and Kent Announce Strategic Carbon Capture & Hydrogen Partnership to Accelerate Global Decarbonisation

Retrieved on:

Tuesday, April 5, 2022

CGG , a global technology leader in geoscience, has announced a strategic partnership with Kent , a leading energy services engineering company, to work together on realizing decarbonisation opportunities through CCUS development and hydrogen production and supply.

Key Points:

CGG , a global technology leader in geoscience, has announced a strategic partnership with Kent , a leading energy services engineering company, to work together on realizing decarbonisation opportunities through CCUS development and hydrogen production and supply.
CGG and Kent will be providing customers in the energy and industrial sectors with end-to-end services across the life cycle of the projects.
Kent also have more than 50 years experience on hydrogen projects, including most recently HyNet in the UK.
Kent and CGG will use their industry-leading experience to develop realistic feasibility studies and concept designs to support client stage gating processes.