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(Reuters) - Swedish utility Vattenfall on Wednesday reported an increase in underlying operating profit in the fourth quarter of 2022 as increased wind power capacity and inflow of new customers boosted earnings. Underlying operating profit rose to 13.5 billion Swedish crowns ($1.28 billion) from 9.1 billion a year earlier, the state-owned company said. "Wind power... Continue Reading →
(Reuters) French oil major TotalEnergies posted a record net profit of $36.2 billion in 2022, double the previous year, joining in the sector's bumper earnings thanks to higher oil and gas prices since Russia invaded Ukraine. TotalEnergies' fourth-quarter adjusted net income was $7.6 billion, including a $4.1 billion impairment related to the deconsolidation of its stake in Russian gas... Continue Reading →
(Reuters) - Equinor (EQNR.OL) on Wednesday posted a record $74.9 billion adjusted operating profit for 2022, more than double its previous high, as gas prices soared and fourth-quarter results beat expectations, boosting its share price by 7%. The Norwegian oil and gas producer's adjusted earnings before tax and interest for October-December rose to $15.1 billion from $15... Continue Reading →
China Three Gorges Corporation (CTG) has started construction of the second phase of its offshore wind farm Zhangpu Liuao. The project will be both China’s and the world’s first wind farm to comprise 16 MW wind turbines. CTG will build the wind farm off the southeast side of the Liu’ao Peninsula in Zhangpu, in the southern... Continue Reading →
NOV's Marine and Construction business unit has come up with a "new and flexible" Modular Service and Operations Vessel (MSOV) concept to "optimize offshore wind farm operations and maintenance." NOV says the vessel's features resemble those of a sea otter. "The Enhydra series design characteristics resemble the sea otter's (Enhydra) unique and physical behavioral features.... Continue Reading →
(Reuters) - BP (BP.L) on Tuesday reported a record profit of $28 billion for 2022 while boosting its dividend in a sign of confidence as it sharply raised overall spending plans but scaled back ambitions to reduce oil and gas output by 2030. The blockbuster profit follows similar reports from rivals Shell (SHEL.L), Exxon Mobil (XOM.N) and Chevron (CVX.N) last week after... Continue Reading →
(Reuters) - Siemens Energy (ENR1n.DE) said on Tuesday its net loss more than doubled in the first quarter, blaming charges related to quality issues at Siemens Gamesa (SGREN.MC) which the German firm is trying to fix via a full takeover of the wind division. Siemens Energy, which pre-released first-quarter results last month, said its net loss widened to 598 million... Continue Reading →
(OED) BW Ideol, a company building concrete foundation for floating wind industry, said Monday that its 5-year-old Floatgen demonstrator continued strong operations, showing a capacity factor of nearly 60% over the last three months and a production of 25GWh since its 2018 commissioning. Floatgen is a 2 MW demonstrator equipped with the world’s first concrete... Continue Reading →
Petrobras is closer to starting exploratory activities on the Equatorial Margin. The company declared that it should start drilling wells this quarter, as detailed in its 2023-2027 Strategic Plan. The company plans to invest US$ 2.9 billion over the next 5 years in the region, with the drilling of 16 wells. The so-called Equatorial Margin... Continue Reading →
(OM) Rystad Energy reported that Guyana had a "stellar 2022" with the announcement of 10 new finds, which included a record nine new discoveries in a calendar year within the Exxon Mobil-operated Stabroek Block and one in CGX’s Corentyne tract. This success yielded estimated new cumulative recoverable resources of about 1.8 Bboe, securing Guyana pole position among countries with... Continue Reading →
Brazil Energy Insight 