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(Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) will focus on financing large-scale renewable energy projects and evaluating new partnerships with energy companies in the coming years, its chief executive said in remarks released on Tuesday. CEO Jean Paul Prates made the comments a day after the company announced it was evaluating seven offshore wind power projects along the... Continue Reading →
Australia's Woodside Energy is on track to make a final investment decision this year on the Trion offshore oil project, which would inaugurate production in the deep waters of the country's Gulf of Mexico. [BHP Petroleum, now part of Woodside] partnered in 2017 with state-oil company Pemex, which discovered Trion's reserves five years earlier. The deal... Continue Reading →
(Reuters) Negotiations for the construction of a $30 billion liquefied natural gas (LNG) terminal between Tanzania, Norway's Equinor and Britain's Shell are complete and contract preparations are underway, Tanzania's energy ministry said. The development of Tanzania's vast offshore gas resources has been held up for years due to regulatory delays. Last June, all three parties... Continue Reading →
The Crown Estate and Crown Estate Scotland have started the first round of formal engagement with developers on Carbon Capture Utilisation and Storage (CCUS). The two organizations, one responsible for the seabed around England, Wales, and Northern Ireland, the other for areas off Scotland, have issued a joint survey to industry stakeholders to explore and... Continue Reading →
The offshore oil and gas sector is back and is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up, the Norwegian energy industry intelligence firm Rystad said in a report Tuesday. According to Rystad, the annual greenfield capital expenditure (capex) will break the... Continue Reading →
Philip Lewis, Contributor (OE) As we move into March, we note both positive and negative trends developing in the U.S. offshore wind segment. As an indication of the long-term sustainability of the offshore wind industry in the United States, federal agencies are finalizing the auction by the middle of this year of three Gulf of Mexico... Continue Reading →
(Reuters) - BP hasn't fallen out of love with renewables. It just wants to have more power. CEO Bernard Looney's pursuit of green energy outstripped all rivals three years ago when he outlined a radical blueprint to move away from fossil fuels. Last month he applied the brakes, slowing BP's planned cuts in oil and... Continue Reading →
(OE) Barcelona-based floating wind technology firm X1 Wind said Tuesday that its X30 floating wind prototype, installed in the Canary Islands, Spain, has produced its first kWh. The company said the milestone marked the world’s only floating wind platform currently installed with a TLP mooring system. This is also Spain’s first floating wind prototype to... Continue Reading →
Norwegian shipping company Solstad Offshore has agreed to sell its platform supply vessel (PSV) fleet to U.S. offshore vessel operator Tidewater for a total cash consideration of approximately $577 million, marking an exit from the PSV segment. The PSV fleet consists of 37 vessels, all of which are currently working worldwide, principally in the North Sea, but... Continue Reading →
EDF Renewables, Jan De Nul Group, and Luminus have teamed up to bid for a commercial-scale offshore wind tender for the first phase of the Princess Elisabeth Zone in Belgium. The Princess Elisabeth Zone is an area identified by the federal government to increase Belgium’s local renewable electricity production by up to 3.5 GW. The... Continue Reading →
