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(Reuters) Exxon Mobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Fourth quarter profit was $7.39 billion. Profit per share was $1.67, beating analyst estimates of $1.56, according to LSEG data. The No. 1 U.S. oil producer reported total earnings of... Continue Reading →
(offshore-energy.biz) With a backlog of $33 billion and sustainability at the heart of its strategy to future-proof its floating production units, the Netherlands-headquartered SBM Offshore is expecting to see a new batch of 40 floating production, storage, and offloading (FPSO) opportunities in the next three years, out of which around 16 are anticipated to be... Continue Reading →
(offshore-energy.biz) The global offshore energy industry’s floating production solutions have come a long way from their humble beginnings and seem to be poised to continue their evolution driven by the need to tap deeper into challenging offshore environments buttressed by growing energy demand, rising security of supply concerns, and increasing climate change prompts to pivot... Continue Reading →
Vestas has received a 315 MW turbine supply order for the Oga Katagami Akita offshore wind project in Akita Prefecture in Japan. The project is being developed by Oga Katagami Akita Offshore Green Energy, a consortium consisting of JERA, Electric Power Development (J-POWER), Tohoku Electric Power (Tohoku EPCO), and ITOCHU Corp. The order includes 21... Continue Reading →
Jesper Skjong, Contributor (OE) After what we would argue has been an incredibly eventful 2024 with massive deals, tremendous dayrate developments, further charterer backlog build, and the first series of newbuild orders in years, now comes the time when we turn our gaze towards 2025. What are some of the main trends we expect for next... Continue Reading →
(Reuters) - Norwegian energy company Equinor has received an offer from the South Korean government for a fixed-price power purchase agreement for a 750-megawatt (MW) floating offshore wind project, the company said on Thursday. "We have received an offer for an offtake contract for our Bandibuli project," an Equinor spokesperson told Reuters. The company will now... Continue Reading →
(OE) Shipbuilder Hanwha Ocean has secured an Approval in Principle (AiP) from certification body Bureau Veritas for its standard Floating Production Storage and Offloading Unit (FPSO) design, which includes the latest developments in advanced digital solutions to support more energy efficient operations. Standard FPSO design of Hanwha Ocean measures 340 meters in length and 62... Continue Reading →
Energy major BP and Japan’s largest power generation company JERA have agreed to combine their offshore wind businesses to form a new standalone, equally-owned joint venture that will become one of the largest global offshore wind developers, owners and operators, named JERA Nex BP. The combination will create a global business with a balanced mix... Continue Reading →
(offshoreWIND.biz) The 96 MW Jeonnam 1 offshore wind farm in South Korea, jointly developed by Copenhagen Infrastructure Partners (CIP), SK Innovation E&S, and Copenhagen Offshore Partners (COP), has delivered its first power. Construction on the Jeonnam 1 offshore wind project started in early 2023, with turbine installation commencing in September 2024. Located off the coast... Continue Reading →
(Reuters) Malaysian offshore energy facilities provider Bumi Armada said on Thursday that it was in talks with MISC to explore a merger with the maritime conglomerate's offshore unit. In a Bursa Malaysia filing, Bumi Armada said they had entered into a non-binding memorandum of understanding with MISC to explore a merger with its offshore business.... Continue Reading →
Brazil Energy Insight 