Latest news with #OSW
Business Wire
3 days ago
- Business
- Business Wire
Green Oceans Report Reveals Systematic Non-Compliance in Offshore Wind Development
LITTLE COMPTON, R.I.--(BUSINESS WIRE)--Green Oceans, a nonprofit 501(c)(3) organization, today released its comprehensive report entitled, Cancelling Offshore Wind Leases. The report, by Planet A Strategies, analyzes the legal frameworks underlying federal agency decision-making for offshore wind (OSW) development in six offshore wind projects located in the Rhode Island and Massachusetts Wind Energy Areas (RI/MA WEAs), which encompass nearly a million acres of ocean territory on the outer coastal shelf. It outlines potential violations of statutory and regulatory requirements under the Outer Continental Shelf Lands Act (OCSLA) and finds that the Department of the Interior's Bureau of Ocean Energy Management (BOEM) decisions to promulgate these contracts not only exceed its statutory authority but also violate procedural law to justify projects that are causing irreversible environmental, cultural, and economic consequences. The Bureau of Ocean Energy Management (BOEM) decisions to promulgate these contracts violate procedural law to justify projects that are causing irreversible environmental, cultural, and economic consequences. Share 'This Report demonstrates that BOEM's review of these projects was fraught with omitted, misrepresented, and arguably false information regarding its ability to provide reliable electricity,' said Green Oceans President Lisa Quattrocki Knight. 'The projects also have significant adverse environmental, economic, and national security consequences. The Trump Administration has sufficient executive authority and reason to cancel the Rhode Island and Massachusetts Wind Energy Areas leases.' Critical data and legal criteria in the report reveal possible omissions or misrepresentations by OSW project developers and government decision-makers. This is shown by citing OCSLA provisions, environmental protection statutes, state obligations to serve, Federal Power Act electricity system reliability rules, and federal requirements from the National Environmental Policy Act (NEPA). These include misrepresentations about: Bulk transmission system reliability Actual installed capacity requirements for fully decarbonized electricity generation Actual amount of electricity generated by OSW operations versus ratepayer demand Illegal segment-by-segment lease issuance Encroachment on national security operations and training Dire economic impacts on maritime activities like fishing and navigation The North Atlantic right whale population resides in the RI/MA WEA. The region also encompasses one of the last remaining spawning grounds for Southern New England cod. Offshore wind development permitted by these leases could lead to the extinction of both species. Federal documents also confirm that offshore developments will compromise the East Coast's only Early Warning Radar system operated by Cape Cod Space Force Stations, underwater threat detection capabilities, military readiness, and Coast Guard search and rescue operations. BOEM's studies acknowledge long-term, major adverse and irreversible impacts on fishing and regional fisheries, and the historical and cultural resources of the Wampanoag Nation of Gay Head/Aquinnah. The Wampanoag Nation has inhabited Massachusetts and Eastern Rhode Island for more than 12,000 years. BOEM did not adequately consider the cumulative impact of all proposed development on the entire lease area, a legal requirement of their authority. The Green Oceans report aligns with the ongoing comprehensive federal review of wind leasing and permitting practices, as directed by the Presidential Memorandum of January 20, 2025, and makes the case for immediate intervention overwhelming, both on legal and policy grounds. The six offshore wind projects referenced throughout this announcement are: Revolution Wind, Vineyard Wind, South Fork Wind, Sunrise Wind, SouthCoast Wind, and New England Wind. You may access the full report here: About Green Oceans Green Oceans is a nonprofit, non-partisan group of community members dedicated to the preservation and protection of our nation's marine ecosystems and coastal communities. For more information or to get involved, visit:
Zawya
17-05-2025
- Business
- Zawya
Oman Shell celebrates youth, hydrogen, and sustainable impact at OSW and OPES 2025
Muscat – As Strategic Partner of Oman Sustainability Week (OSW) and the Silver Sponsor for Oman Petroleum & Energy Show (OPES), Oman Shell was proud to be part of the dialogue on the nation's energy future. From launching cutting-edge infrastructure to empowering Omani youth, Shell's participation reflected its deep-rooted commitment to innovation, partnership, and sustainable progress. Throughout the three-day event, Oman Shell was actively involved in the OSW Expo, OPES Panel Discussions, OSW Talks, and the OSW Eco-Mobility Awards, while also hosting major events, including the graduation of the 4th Nawafidh cohort and site visits to the country's first green hydrogen station. A key highlight was winning two awards at the OSW Eco-Mobility Awards. For Walid Hadi, Oman Shell's Senior Vice President and Country Chairman, this edition marked a personal milestone: 'Being part of the first OSW and now witnessing my final one in this role, I've seen firsthand the momentum Oman is building toward a truly sustainable future. From youth-led innovation to real infrastructure breakthroughs like our hydrogen station, Oman is not only imagining a better future, it's laying down the foundations for it. I'm deeply proud of how far we've come and confident in where we're headed.' A Milestone in Mobility: OSW Eco-Mobility Awards Oman Shell was honored with two prestigious accolades at the OSW Eco-Mobility Awards: Gold Award for EV Mobility and Social Impact, and the Platinum Award for the Green Hydrogen for Mobility Project. The Platinum award recognizes the launch of the nation's first-ever hydrogen station, a fully integrated, locally operated and renewables-powered leap toward sustainable mobility. These awards underscore Shell's leadership in enabling a lower-carbon transport future for the Sultanate. Shaping the Dialogue: OSW Talks and OPES Panels Oman Shell's In-Country Value Lead, Najwa Al Kindi, took the stage to highlight how investing in local talent and economic diversification is key to building a resilient, sustainable economy in the panel discussion on Local Leadership and Economic Diversification at OPES Talks. At OSW Talks, Al Ahnaf Al Zubaidi, Shell's Social Investment Manager, spoke on youth empowerment and the importance of nurturing innovation through flagship programs such as Shell NXplorers and Shell Nawafidh, spotlighting the next generation of energy leaders. Driving Innovation: From Gas to Green Hydrogen At the heart of Shell's OSW participation was the launch of the green hydrogen mobility station in March this year. Built in partnership with Mwasalat, Nama Power and Water Procurement Company, and the Ministry of Energy and Minerals, the station produces hydrogen on-site using renewable energy, certified through international renewable energy certificates, making it 100% green. Oman Shell's sixth gift to the nation is a bold step toward a net-zero transport ecosystem. In addition, Shell's stand at OSW highlighted its broader work in natural gas, LNG, and Carbon Capture, & Storage (CCS), offering a system-wide approach to the energy transition. Sharing the Vision Oman Shell welcomed students from Middle East College and OSW visitors to its green hydrogen station, bringing sustainability to life through hands-on learning and immersive walkthroughs. These experiences underscored the importance of placing people at the heart of the energy transition. Celebrating the Next Generation: Nawafidh Graduation Ceremony A standout moment during OSW was the graduation of the fourth batch of the Shell Nawafidh programme, hosted in partnership with GUtech and the Outward Bound Oman. The initiative aims to empower young Omani professionals with innovation, leadership, and entrepreneurship skills to contribute to the energy transition. 'Nawafidh opened my eyes to new ideas and possibilities I hadn't considered before,' shared a graduate during the ceremony. 'It sparked my curiosity about the energy transition and showed me how I can be part of something bigger.' Held under the patronage of His Excellency Sheikh Dr. Mansour bin Talib bin Ali Al Hinai, Chairman of the Authority for Public Utilities Regulation, the ceremony stood as a powerful reminder of Omani potential and purpose and the future it is ready to shape. About Oman Shell Shell has been a partner in Oman's development and progress over the last several decades. We have been providing pioneering technologies and expertise in the energy industry and creating value for the community. Shell is active in Oman across the oil and gas industry and is involved in joint venture and independent activities ranging from research and development, exploration and production to trading, retail and new energies. Shell also implements an extensive social investment program that contributes to the sustainable development of the country. Shell holds interests in Petroleum Development Oman (34%), Oman LNG (30%) and Shell Oman Marketing Company (49%). Together they represent a substantial part of Oman's economic growth. In January 2023, Oman Shell started producing gas from Mabrouk North East field in Block 10 in Oman. Shell holds a 53.45% working interest in Block 10, with OQ and Marsa Liquefied Natural Gas LLC (a joint venture between TotalEnergies and OQ) holding 13.36% and 33.19% respectively. Enquiries Salima Al Masrouri Email: Middle East and North Africa Media Relations: Email: Cautionary Note The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this press release 'Shell', 'Shell Group' and 'Group' are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words 'we', 'us' and 'our' are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ''Subsidiaries'', 'Shell subsidiaries' and 'Shell companies' as used in this press release refer to entities over which Shell plc either directly or indirectly has control. The term 'joint venture', 'joint operations', 'joint arrangements', and 'associates' may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term 'Shell interest' is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest. Forward-Looking Statements This press release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as 'aim'; 'ambition'; ''anticipate''; ''believe''; 'commit'; 'commitment'; ''could''; ''estimate''; ''expect''; ''goals''; ''intend''; ''may''; 'milestones'; ''objectives''; ''outlook''; ''plan''; ''probably''; ''project''; ''risks''; 'schedule'; ''seek''; ''should''; ''target''; ''will''; 'would' and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak, regional conflicts, such as the Russia-Ukraine war, and a significant cybersecurity breach; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc's Form 20-F for the year ended December 31, 2023 (available at and These risk factors also expressly qualify all forward-looking statements contained in this press release and should be considered by the reader. Each forward-looking statement speaks only as of the date of the press release [May 18, 2025]. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release. Shell's Net Carbon Intensity Also, in this press release, we may refer to Shell's 'Net Carbon Intensity' (NCI), which includes Shell's carbon emissions from the production of our energy products, our suppliers' carbon emissions in supplying energy for that production and our customers' carbon emissions associated with their use of the energy products we sell. Shell's NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell's 'Net Carbon Intensity' or NCI are for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries. Shell's net-zero emissions target Shell's operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and NCI targets over the next ten years. However, Shell's operating plans cannot reflect our 2050 net-zero emissions target, as this target is currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell's operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be a significant risk that Shell may not meet this target. Forward-Looking non-GAAP measures This press release may contain certain forward-looking non-GAAP measures such as [cash capital expenditure] and [divestments]. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc's consolidated financial statements. The contents of websites referred to in this press release do not form part of this press release. We may have used certain terms, such as resources, in this press release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website
Yahoo
15-05-2025
- Business
- Yahoo
John Rogers' Strategic Moves: A Closer Look at Norwegian Cruise Line Holdings Ltd
John Rogers (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2025, providing insights into his investment moves during this period. John Rogers (Trades, Portfolio) founded Ariel Investment, LLC in 1983. Rogers manages Ariel's small and mid-cap institutional portfolios as well as the Ariel Fund (ARGFX) and Ariel Appreciation Fund (CAAPX). He is also a long-term Forbes columnist writing a column called "Patient Investor." Rogers has concentrated his investment selection on small and medium-sized companies whose share prices are undervalued. He believes that patience, independent thinking, and a long-term outlook are essential to achieving good returns. His fund seeks to purchase companies whose characteristics include high barriers to entry, sustainable competitive advantages, and predictable fundamentals that allow for double-digit cash earnings growth. Rogers purchases companies when they are trading at a low valuation relative to potential earnings (p/e less than 13x forward cash earnings) and/or a low valuation relative to intrinsic worth (40% discount to private market value). Warning! GuruFocus has detected 6 Warning Sign with UBER. John Rogers (Trades, Portfolio) added a total of 5 stocks, among them: The most significant addition was Algonquin Power & Utilities Corp (NYSE:AQN), with 6,952,341 shares, accounting for 0.42% of the portfolio and a total value of $35.73 million. The second largest addition to the portfolio was Owens-Corning Inc (NYSE:OC), consisting of 112,578 shares, representing approximately 0.19% of the portfolio, with a total value of $16.08 million. The third largest addition was Vanguard Total World Stock ETF (VT), with 74,824 shares, accounting for 0.1% of the portfolio and a total value of $8.68 million. John Rogers (Trades, Portfolio) also increased stakes in a total of 48 stocks, among them: The most notable increase was Norwegian Cruise Line Holdings Ltd (NYSE:NCLH), with an additional 5,077,531 shares, bringing the total to 9,081,170 shares. This adjustment represents a significant 126.82% increase in share count, a 1.13% impact on the current portfolio, with a total value of $172.18 million. The second largest increase was OneSpaWorld Holdings Ltd (NASDAQ:OSW), with an additional 2,932,284 shares, bringing the total to 10,713,305. This adjustment represents a significant 37.69% increase in share count, with a total value of $179.88 million. John Rogers (Trades, Portfolio) completely exited 9 of the holdings in the first quarter of 2025, as detailed below: Royal Caribbean Group (NYSE:RCL): John Rogers (Trades, Portfolio) sold all 457,908 shares, resulting in a -1.13% impact on the portfolio. DaVita Inc (NYSE:DVA): John Rogers (Trades, Portfolio) liquidated all 235,058 shares, causing a -0.38% impact on the portfolio. John Rogers (Trades, Portfolio) also reduced positions in 49 stocks. The most significant changes include: Reduced Check Point Software Technologies Ltd (NASDAQ:CHKP) by 459,120 shares, resulting in a -40.4% decrease in shares and a -0.91% impact on the portfolio. The stock traded at an average price of $211.9 during the quarter and has returned -2.70% over the past 3 months and 15.75% year-to-date. Reduced The Goldman Sachs Group Inc (NYSE:GS) by 108,472 shares, resulting in a -92.33% reduction in shares and a -0.66% impact on the portfolio. The stock traded at an average price of $601.74 during the quarter and has returned -6.30% over the past 3 months and 8.09% year-to-date. At the first quarter of 2025, John Rogers (Trades, Portfolio)'s portfolio included 106 stocks, with top holdings including 3.16% in Mattel Inc (NASDAQ:MAT), 3.02% in Jones Lang LaSalle Inc (NYSE:JLL), 2.99% in Madison Square Garden Entertainment Corp (NYSE:MSGE), 2.86% in Lazard Inc (NYSE:LAZ), and 2.85% in First American Financial Corp (NYSE:FAF). The holdings are mainly concentrated in 11 industries: Financial Services, Consumer Cyclical, Industrials, Healthcare, Communication Services, Technology, Consumer Defensive, Real Estate, Energy, Basic Materials, and Utilities. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus.
Muscat Daily
14-05-2025
- Business
- Muscat Daily
Abraj Energy signs deal with BP for drilling rig in Block 61
Muscat – Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025. The agreement was formalised on the sidelines of the Oman Petroleum & Energy Show (OPES) and Oman Sustainability Week (OSW) 2025. This partnership is set to reinforce Abraj's position as a reliable and leading partner in Oman's oil and energy sector. The contract also reflects Abraj's continued commitment to operational excellence, occupational safety, and the delivery of innovative services and solutions that support and advance the energy sector in Oman. In a statement to Oman News Agency, Eng Saif bin Said al Hamhami, CEO of Abraj Energy Services, said, 'We are proud of this strategic partnership with BP Oman to provide a drilling rig in Block 61, building on a collaboration that has spanned more than a decade in the drilling services sector. This marks a new milestone in our efforts to expand our operational reach and strengthen our presence in the local market through high-quality, impactful projects.' Hamhami added that the agreement demonstrates the strategic partners' confidence in Abraj's efficiency and capability to deliver safe, effective operational solutions that adhere to the highest international standards. He emphasised the company's steadfast commitment to maximising in-country value, investing in the development of national talent, and enhancing operational sustainability.
Observer
12-05-2025
- Business
- Observer
Net Zero Centre launched
MUSCAT: The activities of the Oman Petroleum and Energy Show and Oman Sustainability Week for 2025 were officially launched at the Oman Convention and Exhibition Centre on Monday, May 12, 2025. The opening ceremony was held under the auspices of HH Sayyid Taimour bin Asaad al Said, Chairman of the Board of Directors of the Central Bank of Oman, with the presence of several distinguished ministers, ambassadors, senior officials and representatives from various concerned entities, highlighting the growing national interest towards a sustainable and balanced future. A key highlight of the opening session was the formal inauguration of the Oman Net Zero Centre, which operates under the Ministry of Energy and Minerals. The Centre focuses on several key areas, particularly the preparation and continuous updating of the national plan to achieve net-zero emissions. It also oversees the implementation of relevant projects and initiatives, offering support and consultation to institutions and stakeholders to help achieve national net-zero targets. In addition, the Centre is responsible for defining and updating Oman's national strategy to reach carbon neutrality by 2050. It provides technical guidance and support to both government bodies and private sector organisations on net-zero transition and energy efficiency. The Centre also monitors progress, promotes awareness and builds capacity to ensure the effective implementation of related programmes and initiatives. These efforts reflect a firm belief in addressing climate change and advancing clean, renewable energy solutions. Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals. The initiative aligns with the Sultanate of Oman's commitment to achieving net-zero carbon emissions by 2050, and have also accelerated the development of the renewable energy sector, created supportive legal frameworks and policies, and introduced incentives to attract foreign investment, support local industries, and localise clean energy technologies. OPES and OSW, held under the auspices of the Ministry of Energy and Minerals, has been organised by CONNECT (Oman Exhibitions Organising Company) and hosted by Petroleum Development Oman (PDO). They serve as an integrated platform, highlighting the importance of securing and sustaining energy while showcasing Oman's commitment to achieving a balanced and progressive future. Commenting on the significance of the events, Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, stated: 'Having multiple conferences and activities under one roof allows us to send a unified message to the world: Oman is fully committed to cleaner energy, without compromising its core capabilities in oil and gas production.' The minister also highlighted the country's major strides in renewables and green hydrogen. 'Earlier this year, we inaugurated two major renewable energy plants with a combined capacity of 1,000 megawatts. The output from each plant has already exceeded expectations, delivering over 500 megawatts each,' he said. 'This proves that with the right partnerships and execution, Oman can lead in clean energy generation.' In another landmark development, Oman launched its first green hydrogen production, storage and refuelling station — a pioneering project that now powers a fleet of more than 15 vehicles, including Muscat airport taxis.
