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The U.S. will hold a wind energy auction for two lease areas offshore the Carolinas on May 11, the U.S. Department of the Interior said Friday, as the Bureau of Ocean Energy Management (BOEM) has completed its environmental review. The lease areas cover 110,091 acres in the Carolina Long Bay area that, if developed, could result in... Continue Reading →
Tanker operator AET named its new shuttle tanker Eagle Colatina earlier this week in South Korea. The vessel is the first of three purpose-built Suezmax dynamic positioning (DP2) shuttle tankers for a long-term charter to the Brazilian oil company Petrobras based on the agreement signed in February 2020. Shuttle tankers are used for the offloading... Continue Reading →
(Reuters) - Saipem (SPMI.MI) will launch a 2 billion euro ($2.2 billion) capital increase this year and sell assets to help fund a turnaround plan to bring the troubled Italian energy services group back into the black. The company stunned investors in January when it downgraded earnings by a billion euros due to a significant deterioration of... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) said on Thursday it aimed to reduce greenhouse gas emissions from its fuel product sales by more than 30% by 2030, compared with 2015. The French oil major, which is due to hold an investor conference call on Thursday, also said it was setting new targets for reducing its methane emissions and routing... Continue Reading →
Brazil will increase its oil production by 300,000 barrels a day by the end of the year to help stabilize global energy markets. The information was revealed today by the Minister of Mines and Energy, Bento Albuquerque, during the opening ceremony of the Ministerial Meeting of the International Energy Agency (IEA), in Paris. The additional... Continue Reading →
(OilPrice) It’s an open secret within energy circles that the eventual death of oil and thermal coal won’t come from environmentalists or even directly from renewable energy, but rather when big banks decide to stop financing it, rendering it ‘unbankable’. And the U.S. oil and gas sector came dangerously close to meeting that fate after Wall... Continue Reading →
BP, the British oil major with growing renewables ambitions, has partnered up with Marubeni, the major Japanese integrated trading and investment conglomerate, to explore "a selected offshore wind development opportunity in Japan." The companies have agreed to form a strategic partnership for offshore wind and potentially other decarbonization projects, including hydrogen. As part of... Continue Reading →
(Reuters) - ING Groep NV (INGA.AS) will no longer finance new oil and gas projects, its energy chief said, becoming the biggest bank yet to commit to such a step in the fight against climate change. The move by the Dutch financial services firm raises pressure on peers to heed a call by the International Energy Agency... Continue Reading →
Subsea 7 ended 2021 with excellent operational and financial performance. Revenue reached US$ 5 billion, representing growth of 45% compared to the previous year. The company's EBITDA reached US$ 521 million, an increase of 55% compared to 2020. Net income for the year was US$ 36 million. The global order backlog hit the $7.2 billion... Continue Reading →
(Offshore Energy) Oilfield services provider Baker Hughes has inked a deal to acquire Altus Intervention, a provider of well intervention services and down-hole oil & gas technology, to strengthen its technological capabilities while enabling its customers to maximise production from fields. Baker Hughes informed on Monday that it is acquiring Altus Intervention to bring critical capabilities... Continue Reading →
