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Nov. 5 (Reuters) Danish offshore wind giant Orsted said on Wednesday that it had no plans to take over the renewables business of Equinor, its second biggest shareholder, which has proposed closer ties between the companies. Norwegian oil, gas and renewables group Equinor, which took a 10% stake in Orsted last year and injected close to $1... Continue Reading →
Nov. 5 (offshoreWIND.biz) BW Ideol’s project involving a factory for serial production of concrete floating wind foundations in Fos-sur-Mer, France, has been selected for funding by the European Commission under the EU Innovation Fund, for a grant of up to EUR 74 million. The project, named Fos3F, was selected alongside ten other projects in the... Continue Reading →
Nov 5 (Reuters) - Orsted, the world's biggest offshore wind farm group, swung to a quarterly net loss of 1.70 billion Danish crowns ($265,50 million), it said on Wednesday, hit by U.S. President Donald Trump's trade policies and resistance to renewable energy. Orsted's shares have plummeted 85% from their 2021 peak, hit by soaring costs... Continue Reading →
Nov 3 (Reuters) - Denmark's Orsted said on Monday it agreed to sell a 50% stake in Britain's Hornsea 3 offshore wind farm for 39 billion Danish crowns ($6.09 billion), widely regarded as a crucial move to prevent a crippling credit rating downgrade. Orsted, the world's largest offshore wind developer, seeks to restore investor confidence as... Continue Reading →
Nov. 2 (oilprice.com) Ten years after the landmark Paris Agreement to pursue net-zero emissions by 2050, the world faces a slowing transition to clean energy despite record-breaking renewable capacity installations. Much has changed in the energy systems in the decade since the Paris Agreement was signed in 2015. These systems faced a global pandemic, the... Continue Reading →
Nov. 3 (oilprice.com) U.S.-Venezuela tensions are again rippling through energy and security markets, prompting President Donald Trump to rule out immediate military strikes while maintaining a buildup of American naval assets in the Caribbean. His comments followed reports of U.S. patrols and maritime interdictions targeting narcotics routes linked to Caracas, a campaign that has drawn... Continue Reading →
Oct 31 (Reuters) - Exxon Mobil beat Wall Street estimates for third-quarter earnings on Friday, underpinned by higher oil and gas production in Guyana and the Permian Basin, which offset lower oil prices. Adjusted earnings during the July-to-September quarter were $8.1 billion, or $1.88 per share, beating analysts' consensus estimate of $1.82 per share, according to... Continue Reading →
Oct 31 (Reuters) - Chevron beat analyst estimates on Friday as record oil and gas production, boosted by its $55 billion acquisition of Hess, and stronger refining margins lifted the No. 2 U.S. oil producer's results for the third quarter. Adjusted earnings for the three-month period ended September 30 were $3.6 billion or $1.85 per share,... Continue Reading →
Oct 30 (Reuters) - Shell and TotalEnergies posted quarterly profit falls of 10% and 2%, respectively, on Thursday, dragged down by lower oil prices, though Shell beat expectations helped by better trading results in its huge gas division. While Shell, the world's largest liquefied natural gas trader, is keeping its $3.5 billion buyback pace, No. 2 LNG... Continue Reading →
Oct. 30 (offshoreWIND.biz) “The pilot plant project in Rio Grande do Norte is no longer just an idea, a dream. We are talking about something concrete, which exists”, said Rodrigo Mello, director at SENAI Institute for Innovation in Renewable Energies (ISI-ER) and its arm in the state of Rio Grande do Norte, SENAI-RN, as the... Continue Reading →
Brazil Energy Insight 