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(Reuters) - Orsted, the world's biggest offshore wind farm developer, reported on Thursday a rise in first-quarter operating profit thanks to higher earnings from its offshore wind farms, and confirmed its full-year guidance. The offshore wind industry has been struggling with rising inflation, interest rate hikes and supply chain delays. Following a strategic review of... Continue Reading →
(Reuters) - Shell (SHEL.L), opens new tab reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose. The company said it will buy back a further $3.5 billion of its shares over the next three months, at a similar... Continue Reading →
(Reuters) - The Biden administration on Tuesday unveiled a plan to sell offshore wind leases in waters off the coasts of Maine and Oregon later this year, saying projects in those regions could one day power a total of 6 million homes. The proposed sales are part of a five-year schedule of offshore wind auctions... Continue Reading →
In 1Q24, average production of oil, NGL and natural gas reached 2,776 MMboed, increase of 3.7% when comparing with the same period last year (1Q23). Among the main factors behind this variation, we can highlight the ramp-up of the FPSOs Almirante Barroso, P-71, Anna Nery, Anita Garibaldi and Sepetiba, as well as the start-up of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed a memorandum of understanding with the Government of the State of Rio Grande do Norte (RN), which provides for studies on the feasibility of implementing an offshore wind pilot project in the state. The value of the investment and the generation capacity will be assessed... Continue Reading →
(OE) Sweden-based construction and development company Skanska has signed the final contract award, worth $612 million, for the upgrade of the South Brooklyn Marine Terminal (SBMT) in New York, which will serve as an offshore wind hub. The project will transform the SBMT into one of the largest dedicated offshore wind ports in the United... Continue Reading →
Contributor: Philip Lewis is Director Research at Intelatus Global Partners (OE) At a high-level, there are three solutions to transferring technicians from shore bases to offshore wind farms for construction and O&M activities: crew transfer vessel (CTV), helicopter, and SOVs/CSOVs. SOVs and CSOVs generally house 60-120 technicians offshore for a few weeks at a time,... Continue Reading →
(OE) While construction productivity issues continue to present immediate challenges for the U.S. offshore wind industry, the long-term outlook remains strong for the nascent sector, according to a recent report from business intelligence and consulting firm Intelatus Global Partners. Intelatus' most recent monthly report on the U.S. offshore wind industry identifies a number of factors... Continue Reading →
(Reuters) - Equinor (EQNR.OL), opens new tab posted a sharp fall in first-quarter profit on Thursday, hit by tumbling natural gas prices in Europe, though strong energy trading and rising output limited the decline. The Norwegian oil and gas producer's adjusted earnings before tax for January-March fell almost 37% to $7.53 billion but beat the $7.2 billion... Continue Reading →
(Reuters) - Norway's Equinor (EQNR.OL), opens new tab is confident of finding an investor for its planned Empire Wind 1 offshore wind farm in New York after a new power off-take agreement improved the project's economics, the company said on Thursday. New York State authorities in February awarded the project a new conditional power purchase contract, replacing a previous... Continue Reading →
Brazil Energy Insight 