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America's first commercial-scale offshore wind farm is officially open, a long-awaited moment that helps pave the way for a succession of large wind farms. The Biden administration has approved six commercial-scale offshore wind energy projects, and auctioned lease areas for offshore wind for the first time off the Pacific and Gulf of Mexico coasts. Ørsted CEO Mads Nipper called the opening a major milestone that proves large offshore wind farms can be built, both in the United States and in other countries with little or no offshore wind energy currently. The first U.S. offshore wind farm was supposed to be a project off the coast of Massachusetts known as Cape Wind. The nation's second large offshore wind farm, Vineyard Wind, is expected to open later this year off the coast of Massachusetts, too.
Persons: Ørsted, Kathy Hochul, Deb Haaland, Biden, Hochul, , ” Hochul, Eversource, Mads Nipper, Equinor, David Hardy, Ørsted . Ørsted, It’s, it’s, Haaland Organizations: Montauk Point , New York . New York Gov, . New York, Fork, Associated Press, Ørsted ., DONG Energy, Danish Oil, Gas, Industry, Copenhagen Infrastructure Partners Locations: Montauk Point , New York ., Gulf of Mexico, . New, York, Rhode Island, Long, United States, New York, Norwegian, Denmark, Germany, U.S, Massachusetts, Avangrid, Copenhagen, AP.org
Like Sykes, it made a transition from black to green — and in doing so, it demonstrated it's possible for big energy companies to pivot to clean energy. To limit the influence of climate change, those emissions need to rapidly decrease — which means that big energy companies need to change their operations. A 2022 study found that 51% of the world's biggest publicly listed energy companies had not set out a strategy to reduce their emissions. Shell, for example, says it has about 50 gigawatts of renewable energy in operation, under construction, or in development. "If we could do the energy transition without them, I wouldn't be doing this," van Baal added.
The project is expected to cost 83.7 billion yuan ($12.2 billion), partner Panjin Xicheng Industrial Group said in a statement on WeChat on Sunday. Construction at the complex will start in the second quarter after the project secures the required administrative approvals, Aramco said. Before the pandemic, Aramco signed two other initial agreements for refinery-petrochemical investments in China. The other is with Shandong Energy that includes a potential crude supply agreement and chemical products offtake deal, as well as exploring collaboration on an integrated refining and petrochemical complex in China. Earlier in March, Saudi Aramco also broke ground on a $7 billion project to produce petrochemicals from crude oil at its South Korean affiliate S-Oil Corp's (010950.KS) refining complex in the port city of Ulsan.
5 key takeaways from Xi’s trip to Saudi Arabia
  + stars: | 2022-12-10 | by ( Nadeen Ebrahim | ) edition.cnn.com   time to read: +11 min
Here are five key takeaways from Xi’s visit to Saudi Arabia. Saudi Press Agency//ReutersDuring Xi’s visit, Saudi Arabia and China released a nearly 4,000-word joint statement outlining their alignment on a swathe of political issues, and promising deeper cooperation on scores of others. China is the world’s biggest buyer of oil, with Saudi Arabia being its top supplier. China is also keen to cooperate with Saudi Arabia on security and defense, an important field once reserved for the kingdom’s American ally. Saudi Arabia was, however, keen to reject notions of polarization, deeming it unhelpful.
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