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(Reuters) Global oil major BP said the world must invest in the production of oil and gas to avoid sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions.Global gas prices surged seven-fold last year as 3% of global gas supplies were hit following Russia's invasion of Ukraine, forcing countries to boost... Continue Reading →
(PN) China National Offshore Oil Corporation (CNOOC) signed an agreement for two research projects on renewable energies offshore, with funding of R$ 16 million. With a duration of three years, the research will have the participation of more than thirty people, from four different Coppe laboratories, who will work in several areas, including hydrodynamics, aerodynamics,... Continue Reading →
(OM) Mexico’s regulator has approved the unitized development plan for the offshore Zama oil field, according to partner Harbour Energy. The Pemex-led joint venture is now preparing to start the FEED and reassess cost estimates ahead of a potential final investment decision in 2024. Earlier this year Harbour participated in the Wintershall Dea-operated Kan-1 exploration... Continue Reading →
(OE) Petrobras CEO Jean Paul Prates participated in the CEO Oil and Gas Governors Meeting in Geneva this week and highlighted that it is crucial to raise people's awareness of the essential contribution of oil to the economy. The event was coordinated by the World Economic Forum, and the meeting addressed two main themes: energy... Continue Reading →
Morgan Stanley's infrastructure investment arm is teaming up with U.S. maritime, energy and logistics solutions company Crowley to advance offshore wind energy solutions for the United States. Investment funds managed by Morgan Stanley Infrastructure Partners (MSIP), a private infrastructure fund platform within Morgan Stanley Investment Management (MSIM), will hold a majority stake in Crowley Wind... Continue Reading →
Eric Haun, Editor Marine News (OE) It’s a big deal when a U.S. president visits an American shipyard, and these trips always send a message. When President Obama spoke at HII’s Newport News Shipbuilding in 2013, he warned of the consequences of sequestration. President Trump’s 2020 speech at Fincantieri Marinette Marine touted a $5.5 billion naval... Continue Reading →
Norwegian energy major Equinor, together with its partners, will inaugurate today the world’s largest floating offshore wind farm, Hywind Tampen, according to Reuters. The Hywind Tampen floating offshore wind farm will be officially opened today by Prime Minister Jonas Gahr Støre and HRH Crown Prince Haakon of Norway. Equinor’s partners on this project include Petoro, OMV, Vår Energi,... Continue Reading →
(Bloomberg) -- The new fuel policy implemented by state-run Petroleo Brasileiro SA is causing trouble for a Mubadala Capital-owned oil refinery, handing bondholders one of the worst returns in Latin America. Mubadala’s Acelen, which operates the refinery in northeast Brazil, saw its notes fall into distressed territory at around 63 cents on the dollar, down... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) expects to continue to produce oil for the next four decades, while also boosting investments in renewables as it seeks to drive an energy transition, an executive said on Tuesday. Joelson Mendes, the firm's Chief Exploration and Production Officer, said at an event hosted by Santander that Petrobras understands... Continue Reading →
(OE) The U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM) on Tuesday approved the construction of a 704-megawatt (MW) wind farm off the coast of Rhode Island, the fourth major offshore wind project the agency has greenlit as the Biden administration tries to meet a goal of bringing 30 gigawatts (GW) of... Continue Reading →
