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(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 →
(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 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 →
(PN)The hull of the platform ship (FPSO) P-80 left the Chinese shipyard CIMC Raffles Offshore and headed to a new stage of the project. The vessel is on its way to the Seatrium shipyard in Singapore, where it will undergo the module integration phase. The platform is expected to enter into operation in the Búzios... Continue Reading →
(OE) China National Offshore Oil Company (CNOOC) has posted an 11.4% net profit growth in 2024, marking a record year of oil and gas production, which has been increased by 7% compared to a year earlier. In 2024, CNOOC recorded a net oil and gas production of 726.8 million barrels of oil equivalent (BOE), a... Continue Reading →
(Reuters) - China Petroleum & Chemical Corp, known as Sinopec, reported a 16.8% decline in 2024 net profit, citing lower crude oil prices and the accelerated development of the new energy vehicle (NEV) industry. Sinopec's Hong Kong-listed shares were down 3.3% around 10:40 a.m. local time on Monday after falling as far as 4.5% earlier... Continue Reading →
(Reuters) - Ecuador's government awarded an onshore oil contract to a consortium led by China's state-owned producer Sinopec on Monday, in a push to grow crude output from the country's Sacha block. The block is Ecuador's most productive, located in the country's northeastern Amazonian province of Orellana. It pumped 77,000 barrels per day (bpd) last year.... Continue Reading →
(OE) Alexandre de Gusmão floating, production storage and offloading (FPSO) unit has entered Brazilian waters, and is heading to Petrobras’ Mero field in Santos Basin for commissioning works before being put into production later in 2025. Alexandre de Gusmão FPSO departed China, heading for Brazil back in December 2024. The news of the FPSO’s arrival to Brazilian... Continue Reading →
(gfmag.com) With US investment in Latin America shrinking, China and India are seizing the opportunity to expand their economic reach in the region. The US remains the largest foreign investor, but its stake dropped nearly 10% in 2023 alone, to 38% of the $224.6 billion total, according to the UN Economic Commission for Latin America... Continue Reading →
(offshoreWIND.biz) According to research from Norway-headquartered Rystad Energy, the global offshore wind industry is set for a rebound in 2025, with capacity additions expected to reach 19 GW and sector-wide expenditure projected to hit USD 80 billion (approximately EUR 76 billion). A record wave of lease auctions is driving the resurgence, said Rystad Energy, with... Continue Reading →
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