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(Bloomberg) -- Latin America’s biggest oil company will be more cautious about issuing blockbuster dividends as it moves to become a renewable energy powerhouse, Petrobras Chief Executive Officer Jean Paul Prates said in an interview. In 10 years about half of Petrobras’s revenue will come from wind, solar and renewable motor fuels — and the... Continue Reading →
(Reuters) Mexico's Pemex reversed losses in the last three months of 2023 but its overall debt burden remained the highest of any oil company in the world, with billions of dollars due to bond holders and service providers. The state-run company posted a profit of 106.9 billion pesos in the fourth quarter of last year,... Continue Reading →
(Reuters) - French utility Engie (ENGIE.PA), opens new tab has secured more than $1 billion in tax equity financing from JPMorgan (JPM.N), opens new tab, Goldman Sachs (GS.N), opens new tab and BNP Paribas (BNPP.PA), opens new tab to fund six recently announced renewable projects in U.S. markets, the company said on Tuesday. The markets are in the Electric Reliability Council of... Continue Reading →
(Offshore-energy.biz) Siem Offshore has reported operating revenues of $336 million for the fiscal year 2023, an increase from $274.3 million in 2022, and $85.2 million for Q4 2023, compared to $64.3 million in Q4 2022, said to be caused by an uplift in charter rates, generated by increased demand for offshore support vessels (OSVs) and... Continue Reading →
(OE) The U.S. Bureau of Ocean Energy Management (BOEM) has completed the environmental review of the proposed 2.6 GW New England Wind project offshore Massachusetts, being proposed by Avangrid’s unit Park City Wind. BOEM estimates the proposed project would generate up to 2,600 MW of electricity, enough to power more than 900,000 homes with clean,... Continue Reading →
Digital solutions are accelerating the progress required to ensure CCS earns its place in climate change mitigation history. (OE) Carbon capture has been around since the 90s, but the behavior of CO2 in pipelines is still not that well understood. A lack of suitable multiphase flow assurance models has meant that past CCS projects have... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed a Memorandum of Understanding (MoU) with the aim of studying potential mutually beneficial business models in the low carbon economy with Arcelor Mittal Brasil. The companies will seek to identify commercial opportunities and potential partnerships in Brazil that are aligned with diversification and decarbonization strategies.... Continue Reading →
(Reuters) Spain has opened a public consultation on a new set of rules for offshore wind energy production, laying the groundwork for auctions of sea-based concessions, the Energy Ministry said on Monday. The sector had been urging the government to publish the new regulatory framework in order to meet its offshore wind target of up... Continue Reading →
(ET) GE Vernova is abandoning plans to supersize its offshore wind turbines and will instead focus on rolling out smaller “workhorse” turbines. In March of last year, GE Vernova CEO Scott Strazik said during a GE Investor Conference that the market was receptive to larger variants of the company’s Haliade-X offshore wind turbines: “Now we... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on December 15, 2023, informs that it has decided to exercise the tag-along right (joint sale) for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA). The value of the transaction relating to Petrobras' stake in UEGA is... Continue Reading →
