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By Rafael Clemente, Key Sales Account Manager, Castrol Castrol explains why subsea hydraulic systems will be integral as we look for proven, viable solutions that are commercially feasible and do the job Operators today face an unenviable challenge: deploying new technology in more complex locations while increasing uptime and reliability at the same time. The... Continue Reading →
(offshoreWIND.biz) Europe needs to invest an extra EUR 6.4 billion in port facilities and new vessels to reach its offshore wind energy goals, according to WindEurope. Currently, Europe can install and maintain about 10 GW of offshore wind annually, enough to meet its 2030 energy security targets, but after 2030, this capacity must rise to... Continue Reading →
(OE) U.S.-based low-carbon marine power, data, and service solutions provider Ocean Power Technologies (OPT) has signed a new reseller agreement with a Latin America-based partner focused on supporting the Mexican offshore and maritime markets. The partnership significantly expands OPT’s commercial footprint across Latin America, leveraging the reseller’s regional presence and relationships within Mexico. Under the... Continue Reading →
July 23 (Reuters) - The United Nations' highest court on Wednesday told wealthy countries they must comply with their international commitments to curb pollution or risk having to pay compensation to nations hard hit by climate change. In an opinion hailed by small island states and environmental groups as a legal stepping stone to make... Continue Reading →
July 24 (Reuters) - Britain will increase the guaranteed price offered for offshore wind projects in this year’s renewables auction by 11%, government documents showed, amid rising costs for projects due to inflation and supply chain bottlenecks. The Labour government is facing mounting pressure from opposition parties over the affordability of its net-zero plan and... Continue Reading →
(Reuters) Norway's Equinor said on Wednesday it booked a $955 million impairment on an offshore wind project in the United States, despite the lifting of an earlier ban on its construction by President Donald Trump's administration. In April, Interior Secretary Doug Burgum said the administration of former President Joe Biden had failed to conduct enough... Continue Reading →
(Reuters) Shell and other leading energy groups have abandoned a six-year-long attempt to define a net zero emissions strategy after being told that such a standard would require them to stop developing new oil and gas fields, the Financial Times reported on Tuesday, citing documents seen by the newspaper. Shell, Norway's Aker BP and Canada's Enbridge... Continue Reading →
(offshore-energy.biz) Singapore-headquartered offshore, maritime, and energy solutions provider Seatrium has secured a $400 million sustainability-linked revolving credit facility with United Overseas Bank (UOB). Seatrium stated that the credit facility, secured through its wholly owned subsidiary Seatrium Financial Services (SFS), aligns with the sustainable finance framework and includes revolving credit features that will enhance the company’s... Continue Reading →
(OE) The U.K. government has unlocked $10.1 billion investment into key clean energy projects, like offshore wind and hydrogen, with the signing of a new deal with the Sumitomo Corporation in Tokyo. Sumitomo Corporation aims to facilitate the investment into key U.K. infrastructure and clean energy projects by 2035, backing the government’s aim to significantly... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces that approximately R$33 billion in investments are planned for refining and petrochemical projects in Rio de Janeiro, of which R$29 billion in Petrobras Capex and R$4 billion in another project that operates in synergy with Petrobras assets. The implementation of the integration projects of the Boaventura Energy Complex (Itaboraí... Continue Reading →
Brazil Energy Insight 