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(Reuters) - Japan's Mitsubishi Corp (8058.T) on Monday said that it and other shareholders of the Monsoon wind power project in Laos have raised $692 million in financing for the wind farm. Mitsubishi, Thai renewable energy firm BCPG Pcl, and other stakeholders secured the financing package from the Asian Development Bank, Japan International Cooperation Agency, Sumitomo Mitsui... Continue Reading →
BW Energy on Monday announced it has achieved first oil from the Hibiscus / Ruche Phase 1 development in the Dussafu license offshore Gabon. "Production performance from the first well has been in line with expectations and is currently stabilized at approximately 6,000 barrels per day," the Oslo-listed E&P company said in a statement. "We... Continue Reading →
(OW) Ørsted and Highview Power have joined forces to try to prove the feasibility and economic value of co-locating long-duration energy storage with offshore wind. The two companies will carry out detailed technical analysis and an economic assessment during 2023 that will investigate how combining Ørsted’s wind technology with Highview Power’s liquid air energy storage... Continue Reading →
Prysmian’s cable-laying barge Ulisse has resumed cable laying operations at the first U.S. large-scale offshore wind project, located off the coast of Massachusetts. According to the project’s latest mariner update, cable laying operations of the mid-section cable for the Vineyard Wind 1 project were set to kick off on or about 9 April and continue... Continue Reading →
(OE) U.S. offshore shipbuilder and shipowner Edison Chouest this week marked the 50-percent completion milestone for the U.S.-flagged ECO Edison, the first Jones Act-compliant wind farm SOV. Senior executives from offshore wind developers Ørsted and Eversource toured the Edison Chouest Offshore shipyard in Louisiana to see the progress on the SOV. ECO Edison will be... Continue Reading →
(Reuters) - Judges at the International Court of Justice (ICJ) on Thursday ruled they had jurisdiction over a long-running border dispute between Guyana and Venezuela, which could determine which country has rights to territory rich in oil and gas. Guyana in 2018 asked the ICJ, also known as the World Court, to confirm that the... Continue Reading →
A new record for the successful history of the Brazilian pre-salt. The National Petroleum Agency (ANP) announced that production in the layer in February totaled 3.268 million barrels of oil equivalent per day, growth of 2.3% compared to January. The volume surpassed the previous record of 3.142 million barrels of oil equivalent per day, recorded... Continue Reading →
The Eoliennes en Mer des îles d’Yeu et de Noirmoutier (EMYN) consortium, comprising Ocean Winds, Sumitomo Corporation, Banque des Territoires and Vendée Energie, has reached the final investment decision for the Îles d’Yeu and Noirmoutier offshore wind farm in France and thus moved the project into the construction stage. The first offshore operations will take... Continue Reading →
(OW) DNV has awarded Entrion Wind with a Statement of Feasibility for its fully restrained platform (FRP) offshore wind foundation technology said to extend the operating depth of the monopile technology to up to 100 metres. DNV issued a Statement of Feasibility, affirming that the FRP monopile is considered conceptually feasible and a promising candidate... Continue Reading →
(Reuters) - Gunvor Group posted a record net profit of $2.36 billion in 2022 with a strong performance across all trading desks, the energy trader said in a statement on Wednesday. Gunvor's rivals also had a bumper year amid high price volatility and as Russia's war in Ukraine reshaped global commodity flows, with Vitol and Mercuria previously... Continue Reading →
Brazil Energy Insight 