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(Reuters) - Shell (SHEL.L) is reviewing its current plan to reduce oil output by 1% to 2% per year by 2030, Chief Executive Officer Wael Sawan said in an interview with the Times published on Friday. Sawan took office at the start of the year with a vow to boost Shell's performance and review its operations, while... Continue Reading →
(Reuters) Development of what would be the world’s largest wind farm off the coast of Britain is in doubt, with developer Orsted saying it needs more support from the government such as tax breaks to proceed with the project after costs soared. The 8 billion pound ($9.6 billion) Hornsea 3 project is expected to have... Continue Reading →
Italian shipbuilder Fincantieri, through its subsidiary Vard, has signed a contract with offshore wind vessel operator Edda Wind, for the construction of four Commissioning Service Operation Vessels (CSOV). The first two vessels are expected to be delivered in Q1 2025, the third in Q2 2025, and the fourth in Q1 2026. The contract has a... Continue Reading →
(OE) Energy and telecom cable firm Prysmian Group has secured contracts worth approximately €1.8 billion (currently around $1.9 billion) in total with the Dutch transmission system operator TenneT for the two grid connection projects IJmuiden Ver Alpha and Nederwiek 1 to link two future offshore wind farms located in the Dutch North Sea to the... Continue Reading →
Oslo-listed oil and gas company BW Energy said its planned acquisitions of Petrobras' working interest in Golfinho and Camarupim deepwater oil fields, and the related FPSO from Saipem, were facing delays as a Brazilian ministry has ordered a review of Petrobras divestment program. "BW Energy has been informed by Petrobras of a review of the... Continue Reading →
(Reuters) The chief executive of Brazilian state-run oil company Petrobras said on Thursday the company must prepare for an "unavoidable" energy transition and wants to play a leading role in it. Jean Paul Prates highlighted in a conference call with analysts that Petroleo Brasileiro SA's deepwater operations put the company in a good position for wind... Continue Reading →
Flotation Energy and Vårgrønn, who recently filed a Marine Licence application for their 500 MW Green Volt floating wind farm in Scotland, have now submitted a Scoping Report for the 1.4 GW Cenos floating offshore wind farm to Marine Scotland. The developers have submitted leasing applications for both Cenos and Green Volt as part of... Continue Reading →
(Reuters) - Portugal's largest utility, EDP (EDP.LS), on Thursday said it would invest 25 billion euros ($27 billion) over four years with the aim of nearly doubling its installed renewable energy capacity to 33 gigawatts (GW) by 2026. In its strategic plan through 2026, EDP said 21 billion euros would be invested by its wind and... Continue Reading →
(Reuters) Inpex, Japan's largest oil and gas exploration and production company, said on Thursday it had bought a 16.7% stake in the Moray East offshore wind farm in Scotland from Mitsubishi to expand further into renewable energy. The Moray East offshore wind farm, launched last April, has capacity of 950 megawatts from 100 turbines, with... Continue Reading →
The Brazilian oil company Petro Rio on Wednesday announced production start-up for the MUP5 well in the Frade offshore field in Brazil. Petro Rio said that the stabilized initial production of approximately 8,000 barrels of oil per day, above original projections, increasing the Field’s production by 25% and the company’s production by 10%. With this... Continue Reading →
