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Philip Lewis, Contributor (OE) Global floating wind capacity will have grown from less than 200 MW at the end of 2022 to around 61 GW of grid connected capacity by 2035. This activity will require over $250 billion in capital expenditure. Over 75% of the forecast activity is expected to come from four countries. The global... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has acquired 175,000 carbon credits, marking its entry into the voluntary carbon credit market. Each credit represents 1 ton of CO2 equivalent avoided, totaling 175,000 tons of greenhouse gases (GHG) not emitted. These credits correspond to the preservation of an area of 570 hectares of the Amazon... Continue Reading →
(Reuters) - BP (BP.L) CEO Bernard Looney says he will not further scale back his energy transition strategy after ceding some ground earlier this year, despite investors penalizing the group over its plan to break away from rivals in cutting oil and gas output. Taking office in February 2020 with a vow to reinvent the 114-year-old company,... Continue Reading →
Philip Lewis, Contributor (OE) Much has been written recently about the challenges facing U.S. offshore wind projects, resulting in requests to terminate or renegotiate contracts to sell power to states. Examples of these challenges can be found from Massachusetts to Virginia. Coming on top of last week’s somewhat disappointing events of the Gulf of Mexico lease... Continue Reading →
Samsung Heavy Industries has received basic certification for a floating CO2 storage unit (FCSU) from DNV. The FCSU, jointly developed by Samsung Heavy Industries and MISC, is 330 meters long and 64 meters wide, and has a high-pressure tank capacity that can store 100,000 cubic meters of liquefied CO2 at -50 degrees Celsius or less. The injection module mounted on the... Continue Reading →
(RE) Brazil has the potential to produce up to 1.8 billion tonnes of hydrogen a year at some of the lowest costs in the world, officials in Brasilia have said, with nearly 20% coming from projects supplied with power from offshore wind. For the time being, however, there are no offshore wind projects in development... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that a mission was carried out to China, during which Petrobras CEO Jean Paul Prates met with CEOs of Chinese companies and signed cooperation agreements in the energy sector, as specified below: MoU with China National Offshore Oil Corporation - CNOOC, in order to extend collaboration and explore the... Continue Reading →
(Reuters) - Colombia's Ministry of Finance has authorized state-controlled energy company Ecopetrol (ECO.CN) to arrange a line of credit worth up to $1 billion with international lenders, the company said on Monday. The loan will be provided by Deutsche Bank AG (DBKGn.DE), Banco Inbursa S.A., Foreign Trade Bank of Latin America S.A. (BLX.N) and ICBC Standard Bank Plc (SBKJLS.UL), Ecopetrol... Continue Reading →
(OE) Cadeler A/S published its interim financial report for the first half of 2023 presenting a positive result exceeding the guidance projected for the fiscal year 2023. Revenue in the first six months of 2023 was EUR 68 million, which is an increase of 57% against the same period last year. Adjusted EBITDA for the first half of... Continue Reading →
(OE) DEME Group has released its half year results saying its orderbook is 7.7 billion euro ($8.3 billion), up 36% compared to H1 2022, reflecting continued healthy demand and strong market positioning across all segments. Group turnover grew 14% year-over-year to 1.5 billion euro ($1.6), with growth in the offshore energy and environmental segments. Net... Continue Reading →
Brazil Energy Insight 