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(Reuters) - Hess Corp beat estimates for third-quarter profit on Wednesday, helped by higher oil production in Guyana. The Guyana assets are at the center of an ongoing dispute between oil giants Chevron and Exxon that has delayed Chevron's $53 billion takeover of Hess. Hess agreed to the buyout last October, but the deal has been challenged by... Continue Reading →
(oilnow.gy) TechnipFMC reported third-quarter 2024 revenues of US$2,348.4 million, with a net income of US$274.6 million, or US$0.63 per diluted share. Adjusted net income, which accounts for after-tax charges, was US$280.5 million, or US$0.64 per share. Key factors impacting adjusted net income included a US$60.6 million non-cash tax benefit and an $8.4 million after-tax foreign... Continue Reading →
By Alex Kimani (oilprice.com) Over the past two decades, the shale revolution largely pushed aside interest in the exploration and development of offshore hydrocarbons. The combination of hydraulic fracturing and horizontal drilling enabled the United States to significantly increase its production of oil and natural gas from tight oil formations, with the Shale Patch accounting for 36% of... Continue Reading →
(Reuters) - BP is considering selling a minority stake in its offshore wind business, according to four sources with knowledge of the matter, the latest effort by CEO Murray Auchincloss to scale back the energy company's focus on renewables. The company has faced pressure from shareholders over its energy transition strategy, first launched in 2020, as renewables profit... Continue Reading →
(PN) The FPSO market saw a 50% increase in investments — from US$6 billion to US$9 billion — related to the surface capital of new projects in 2023, a trend that is expected to continue in 2024. The data was presented this week by Rystad Energy. This growth is largely concentrated in South America, especially... Continue Reading →
(Reuters) South Korean conglomerate Hanwha Group on Monday raised its offer for the remaining stake it does not already own in Singapore's Dyna-Mac, valuing the offshore oil and gas contractor at S$790.6 million ($605.41 million). The improved offer of S$0.67 per share represents a 35.4% premium to Dyna-Mac's last traded price on Sept. 10, before... Continue Reading →
(Reuters) Australia's Macquarie has engaged advisors for a potential sale of its subsidiary Corio Generation, one of the world's largest offshore-wind developers, two sources with knowledge of the matter said on Tuesday. Corio oversees a 30-gigawatt pipeline of offshore wind projects spanning Europe, Asia-Pacific, and the Americas. It includes 5 GW of projects across the... Continue Reading →
High-technology offshore wind companies Rovco and Vaarst have entered into merger, creating a new brand Beam to boost their offshore wind services. In uniting their capabilities across research, development, and deployment, Beam will provide innovative automation technologies to service offshore wind, and deliver efficiencies and reduced costs for survey and subsea work across all lifecycle... Continue Reading →
(OE) Motive Offshore Group, a rental, inspection and engineering equipment provider for the energy sector, has acquired Aquatic, a company specializing in laying and retrieving flexible products from the seabed, previously owned by marine energy and infrastructure services company Acteon. The deal will increase Motive’s rental fleet and provide a full back-deck offering globally. Motive... Continue Reading →
(OE) Jumbo Offshore has completed transport and installation of transition pieces on the Yunlin offshore wind farm in Taiwan, under a contract with Yunneng Wind Power. For its role on the project, Jumbo Offshore deployed its DP2 Heavy Lift Crane Vessel Jumbo Javelin. Jumbo Javelin was outfitted in a project-specific set-up to undertake the work... Continue Reading →
Brazil Energy Insight 