Offshore

Nsave gets $4M to enable people from unstable economies open offshore accounts

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Nsave, a fintech based in Geneva making banking in Switzerland accessible to people in countries at war or those with unstable banking sectors or facing high inflation, has raised $4 million seed funding. The round was co-led by Sequoia Capital and TQ Ventures with participation from Y Combinator, SV Angel and FONGIT: the State of … Read more

Ship damaged offshore Yemen, days after Houthi-struck vessel sank

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Aerial view of a tanker. Bugto | Moment | Getty Images A merchant vessel was hit and took damage offshore of Yemen, the U.K. Maritime Trade Operations said Wednesday, days after a ship struck by Iran-backed Houthis sank in the Red Sea. The UKMTO said that the incident took place 54 nautical miles southwest of … Read more

ExxonMobil to explore for oil and gas in offshore area under dispute by Guyana and Venezuela

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GEORGETOWN, Guyana — ExxonMobil said it plans to explore for oil and gas in a disputed area off South America’s coast where the Venezuelan military had previously expelled two U.S. oil companies. The move could escalate tensions between Venezuela and neighboring Guyana, which awarded the exploration license. Guyana considers the area part of its Essequibo … Read more

Big offshore wind farms are now transmitting sweet, sweet battery juice to the US grid

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Offshore wind turbines at two commercial-scale sites are now sending power to the U.S. grid. Moments before midnight on Tuesday, a single turbine near Martha’s Vineyard delivered 5 megawatts of renewable energy to the New England grid, developers said. The turbine is one out of 62 planned for Vineyard Wind 1, an offshore site owned … Read more

Cargo ship carrying burning lithium-ion batteries reaches Alaska, but kept offshore for safety

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ANCHORAGE, Alaska (AP) — A large cargo ship with a fire in its hold is being kept 2 miles (3.22 kilometers) offshore of an Alaska port as a precaution while efforts are undertaken to extinguish the flames, the U.S. Coast Guard said Saturday. There were no injuries to the 19 crew members aboard the Genius … Read more

Greenpeace urges Greece to scrap offshore gas drilling project because of impact on whales, dolphins

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ATHENS, Greece — Greenpeace on Thursday urged Greece to abandon a deep-sea gas exploration project in the Mediterranean, citing newly published research to argue that its impact on endangered whales and dolphins would be greater than previously believed. The environmental group said a survey last year in waters off southwestern Greece and Crete that are … Read more

Offshore Wind Turbines Need Rare Earth Metals. Will There Be Enough to Go Around?

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This story was originally published by Grist. Sign up for Grist’s weekly newsletter here. A Lot of Influencer PR Packages Are Extremely Wasteful For more than a decade, an Australian company called Arafura Rare Earths has been looking for customers willing to buy rare earth metals from a mine under development in the nation’s Northern … Read more

The ‘world’s largest offshore wind farm’ produces its first power

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A Haliade-X wind turbine photographed in the Netherlands on March 2, 2022. Peter Boer | Bloomberg | Getty Images A project described as the “world’s largest offshore wind farm” took a major step forward over the weekend after producing its first power. Located off the coast of northeast England in the North Sea, the Dogger … Read more

Monster wind turbines floating offshore could be future of wind energy

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September 26, 2023 at 6:30 a.m. EDT New technology enables floating wind farms to be installed in deep water, where the wind is stronger and more consistent. (Ole Berg-Rusten/AFP/Getty Images)Comment on this storyComment BERGEN, Norway — The Norwegian prime minister and the country’s crown prince were sweating like everyone else, zipped into their North Sea … Read more