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(Reuters) Top U.S. energy companies last year paid out more of their earnings to shareholders than they invested in new oil and gas fields for the first time, according to a report released on Tuesday. The outlook for stronger energy prices has not changed the focus on investor returns from the U.S. industry, according to... Continue Reading →
(OE) While trouble areas continue to emerge in the young U.S. offshore wind industry, analysts at Intelatus Global Partners maintain an optimistic outlook for the industry in the long term. The business intelligence and consulting firm said in its latest U.S. Offshore Wind Report that it sees long-term foundations for the U.S. offshore wind sector... Continue Reading →
(Reuters) Exxon Mobil Corp and partners plan to spend $12.93 billion to develop their sixth offshore oil project in Guyana, according to a filing published on Monday by the South American country. The floating production platform for the so-called Whiptail project would start operations in 2027 and bring the Exxon-led consortium's oil output in Guyana... Continue Reading →
(Reuters) Colombia needs to rebuild trust between communities, businesses and the government to successfully execute its energy transition, Minister of Mines and Energy Andres Camacho told journalists on Thursday. Camacho, an electrical engineer who previously worked in the ministry as an adviser, was officially appointed by leftist President Gustavo Petro earlier this month. Camacho faces... Continue Reading →
Dutch offshore and marine services firm Boskalis said its Offshore Energy division saw its revenue increase by 50%, with an EBITDA increase of almost 70% in the first half of 2023. All business units within the Offshore Energy branch saw increases in both revenue and earnings. "A busy first half of the year was also reflected... Continue Reading →
(Reuters) - Chinese national oil and gas company CNOOC Ltd (0883.HK), on Thursday posted a 11.3% fall in first-half profit as lower realised oil prices squeezed margins despite higher output. Net profit fell to 63.8 billion yuan ($8.76 billion) from 71.9 billion a year earlier, CNOOC said in a filing to the Hong Kong Stock Exchange.... Continue Reading →
The global offshore wind supply chain will require US$ 27 billion of secured investment by 2026 if it is to meet a fivefold growth in annual installations (excluding China) by 2030, according to energy intelligence group Wood Mackenzie. This figure is based on Wood Mackenzie’s base case outlook which forecasts annual capacity additions to hit... Continue Reading →
(OW) The US Bureau of Ocean Energy Management (BOEM) has identified two draft Wind Energy Areas (WEAs) offshore southern Oregon with which the federal agency plans to move forward and offer them in a lease sale, expected to take place in the first quarter of 2024. Avangrid, Ocean Winds, BlueFloat Energy, and Mainstream Renewable Power, as well... Continue Reading →
(OET) Ecuador’s state-owned oil player EP Petroecuador is inviting investors to participate in a tender process for an offshore natural gas field located in the Gulf of Guayaquil. This is being undertaken to ramp up the production of natural gas from the field in a bid to meet the growing energy demand. With the rising... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it put into production, this Wednesday, 08/16/2023, the Anita Garibaldi platform ship in the Campos Basin. Of the FPSO type (floating system that produces, stores and transfers oil), the unit will operate simultaneously in the post-salt and pre-salt of the Marlim and Voador fields. With a capacity to... Continue Reading →
