(AP) — Colombia's government has applied to join a China-based development bank, another sign of Latin America's drift away from the U.S. as the Trump administration's foreign aid cuts, trade barriers and crackdown on immigration spurs many leaders in the region to seek closer ties with Washington's geopolitical rival. Colombian President Gustavo Petro wrapped up a visit to China this... Continue Reading →
P-80 FPSO set to work at world’s ‘largest deepwater field’ ready for next construction stage
(offshore-energy.biz) Singapore’s offshore marine solutions company PACC Offshore Services Holdings (POSH), part of the Kuok Maritime Group, has completed the towing of a hull for a floating production storage and offloading (FPSO) unit from China to Singapore. The vessel is slated to work at a Brazilian deepwater field with Brazil’s state-owned energy giant, Petrobras. Towed by... Continue Reading →
Brazil’s Renewable Energy Revolution
By Haley Zaremba for Oilprice.com Nearly 90% of Brazil's electricity comes from renewables, making it a prime location for energy-intensive AI infrastructure. Amazon, Microsoft, and other tech giants are investing billions in Brazilian data centers powered by clean energy. Brazil aims to prove that a renewable-focused energy grid can sustain large-scale AI growth, challenging the... Continue Reading →
As Brazilian president visits China, $1 billion sustainable fuel deal announced
(Reuters) - Brazil announced two Chinese partnerships on Monday, including a $1 billion investment by China's Envision Energy to produce sustainable aviation fuel, as the country's president visits China. President Luiz Inacio Lula da Silva met with energy companies as well as with automaker GAC, and Chinese defense company Norinco. Minister of Mines and Energy... Continue Reading →
Petrobras Seeks Foreign Partnerships with Brazilian Shipyards
(Reuters) Brazil's Petrobras is looking to attract foreign investments to boost local shipyards, said the state-run oil firm's CEO Magda Chambriard on Tuesday. Petrobras is looking for strong companies to partner with shipyards to build more ships locally, said Chambriard, who recently visited China and discussed the matter with government officials and firms. "We are... Continue Reading →
Offshore Wind Grows by 11 GW in 2024 with 31 Projects Commissioned – WFO Report
(offshoreWIND.biz) According to a new report published by the World Forum Offshore Wind (WFO), 31 new offshore wind farms with a total capacity of 11 GW were put into operation in 2024, increasing the global offshore wind capacity to a total of 78.5 GW. China continues to lead the sector, according to the report, with... Continue Reading →
CNOOC Posts 7.9% Profit Fall Despite Output Growth
(Reuters) Chinese offshore oil and gas major CNOOC first-quarter net profit fell 7.9%, weighed down by weaker oil prices, though higher output helped stem the decline. Net income for January-March was 36.56 billion yuan ($5.03 billion), versus 39.7 billion yuan in the same period last year, according to a company filing with the Hong Kong... Continue Reading →
Wison lands work on FLNG destined for Petronas’ field off Suriname
(offshore-energy.biz) China-based provider of clean energy services Wison New Energies (WNE) has won a detailed feasibility study (DFS) for a newbuild floating liquefied natural gas (FLNG) facility set to work at a block offshore Suriname operated by Malaysia’s energy giant Petronas. The FLNG unit is slated to work at Block 52, located north of the Surinamese... Continue Reading →
China’s First Offshore Hydrogen-Ammonia-Methanol Platform Starts Operating
(OE) China's first integrated offshore hydrogen-ammonia-methanol project, which will produce clean fuels for ships, has entered the trial operation phase in Yantai, in eastern Chinse province of Shandong. Jointly developed by CHN Energy Hydrogen Energy Technology, CIMC Raffles and Guoneng Hydrogen Innovation Technology (Beijing), the initiative represents the nation’s first comprehensive demonstration project for offshore... Continue Reading →
SBM Offshore signs US$400 million Sale and Leaseback agreement for FPSO Cidade de Paraty
SBM Offshore has signed a non-recourse sale and leaseback financing agreement for Cidade de Paraty floating, production storage and offloading (FPSO) unit, for the total amount of $400 million and with a tenor of eight years. The transaction is expected to be completed before the end of April 2025, following the fulfillment of certain closing... Continue Reading →