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(OE) Singapore's Sembcorp Marine (Sembmarine) scrapped a deal to merge with Keppel Corp's offshore and marine unit and form new company, in favour of directly buying the unit for S$4.50 billion ($3.19 billion), the Temasek-backed oil rig builder said on Thursday. The new structure also lowers the value of Keppel's unit by S$378 million from... Continue Reading →
(Reuters) - CNOOC Ltd's (0883.HK), third-quarter net profit soared by 89% from a year earlier to 36.9 billion yuan ($5.11 billion), driven by stronger oil and as prices, the Chinese offshore oil and gas major said on Thursday. Third-quarter revenue rose 54% on the year to 89.2 billion yuan and total net production rose 8.8% to... Continue Reading →
(Reuters) - Asia's largest oil and gas producer PetroChina Co Ltd reported a 60% year-on-year rise in nine-month net profit to record highs, lifted by stronger global energy prices, even as weaker domestic fuel consumption continued to drag on earnings. Net profit for the January to September period reached 120.3 billion yuan ($16.66 billion), the... Continue Reading →
lenergy Co Ltd, a Korean renewable energy development firm, has hired DNV as the owner's engineer for its 1.5 GW fixed-bottom Chujin offshore wind project. The Chujin offshore wind farm will be the largest commercial-scale offshore wind farm in South Korea, when completed in 2027. As the owner’s engineer, DNV will drive the pre-Front End... Continue Reading →
With the addition of 115 new global offshore wind projects during 3Q, Quest Floating Wind Energy (Q FWE) are actively tracking 696 projects (with statuses Possible, Planned, Pre-development and Under development) representing $1.75 trillion in CapEx, a one-half billion quarter over quarter gain. The Quest Offshore Wind Turbine Index (QOWTI), which tracks the Total Addressable... Continue Reading →
(OE) InterMoor said Thursday it had secured the engineering design scope and the transportation and installation study for two upcoming offshore floating wind farms offshore Asia. The company, a brand in Acteon’s Engineering, Moorings and Foundations Division, said that one wind farm comprised 50-80 turbines, each of 15MW capacity, totalling a capacity of 750- 1200MW,... Continue Reading →
(OW) Offshore construction has started on the 16.8 MW Goto floating wind farm offshore Goto City, Nagasaki Prefecture, Japan, the Goto Floating Wind Farm LLC consortium said. The first of the eight SPAR-type floating foundations has been loaded onto the semi-submersible spud barge, Float Raiser, at Fukue Port and transported to the wind farm site offshore... Continue Reading →
(EV) The cost of clean hydrogen will fall to that of liquefied natural gas in a decade as global efforts to replace fossil fuels accelerate, according to Europe’s biggest operator of gas infrastructure. “Green hydrogen today is not economically competitive against alternative energy sources, which will not be the case in 10 years’ time,” Thomas... Continue Reading →
Wind turbine maker Siemens Gamesa said Wednesday it had signed two agreements with the Hai Long Offshore Wind project owners at an energy industry event in Taiwan. The Hai Long consortium is a partnership between Canadian independent power producer Northland Power Inc. and Taiwan-based developer Yushan Energy Co., Ltd., jointly owned by Mitsui & Co.,... Continue Reading →
Japan-headquartered Sumitomo Electric Industries has completed a long-term test for its 525 kV cross-linked polyethylene (XLPE)-insulated high-voltage direct current (HVDC) submarine cable system. The cable system was tested in accordance with the international standard CIGRE-TB496 and a third-party certification body has approved the completion of the test. According to Sumitomo, this system is capable of... Continue Reading →
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