(Reuters) - Global energy consumption rose by 5.8% in 2021, exceeding pre-pandemic levels as economies revved up activity, while strong growth in renewable energies chipped away at fossil fuel use, according to a benchmark report by BP (BP.L). Oil demand last year was 3.7 million barrels per day (bpd) below 2019 levels, driven primarily by weakness... Continue Reading →
France Wants Iran, Venezuela Return to Oil Markets
(Reuters) France wants sanctions-hit Iran and Venezuela to return to the oil markets to alleviate a Russian squeeze of energy supplies that has spiked prices, a French presidency official said on Monday. It also wants a planned mechanism to cap the price of oil to be as broad as possible and not be limited to Russian output. The French... Continue Reading →
Corio Brazilian offshore wind push
Last week, Corio also announced five offshore wind projects totalling more than 5 GW in early-stage development off Brazil. Corio intends to develop five projects in Brazil, subject to finalisation of documentation and regulatory approvals, alongside leading Brazilian power generation company Servtec, which has been in the renewables sector for more than 20 years and... Continue Reading →
RWE, Bourbon to Jointly Bid for French Floating Wind Projects
Renewable energy company RWE Renewables France and offshore vessel services provider Bourbon Subsea Services have agreed to jointly bid for the Mediterranean floating offshore wind auction. The two companies have applied to be selected as eligible bidder for the A06 tender, and the respective announcement by the French government is expected during the coming weeks. ... Continue Reading →
Subsea 7 starts floating offshore green hydrogen collaboration with OneSea
Subsea 7 has entered into a Memorandum of Understanding with the Dutch hydrogen technology developer, OneSea Energy, to collaborate in the field of floating offshore green hydrogen production. The Memorandum of Understanding provides that OneSea and Subsea 7 will move forward together in exploring and developing field-specific solutions for offshore hydrogen production. Both companies will... Continue Reading →
Biden, 11 U.S. states to boost support for offshore wind energy
(Reuters) - The Biden administration is partnering with 11 East Coast states to accelerate development of offshore wind facilities and create jobs by supporting a domestic supply chain for the industry, the White House said on Thursday. The move is part of President Joe Biden's push to fight climate change by expanding clean energy technologies.... Continue Reading →
Ocean Winds to Spend $3.15B on Offshore Wind Projects by 2025
(Reuters) Ocean Winds, a joint venture between Portugal's main utility EDP with French company Engie, plans to invest 3 billion euros ($3.15 billion) to develop offshore wind projects by 2025, the chief executive of EDP told Reuters on Thursday. The equal partners in the venture are targeting up to 7 gigawatt (GW) of new capacity... Continue Reading →
West Africa must grasp opportunity of Europe’s shift from Russian gas
Europe's move away from Russian gas provides a ready and lucrative market for a vast project being developed in West Africa, Mauritania's oil minister said on Thursday. As Russia has reduced gas supplies to Europe and Europe seeks to limit its dependence on Russian gas, Africa has an opportunity to fill the gap, but it... Continue Reading →
Steelmaking giant enters offshore wind, green hydrogen industries
German energy company RWE and steel producer ArcelorMittal have signed a memorandum of understanding to work together to develop, build and operate offshore wind farms and hydrogen facilities that will supply the renewable energy and green hydrogen required to produce low-emissions steel in Germany. The partnership centres on driving forward the production of carbon-neutral steel,... Continue Reading →
ExxonMobil CEO expects tight oil market to last years
(Reuters) - ExxonMobil CEO Darren Woods on Tuesday said it would take time for energy market volatility to end and that he expects three to five years of fairly tight oil markets. Speaking at a panel at the Bloomberg Qatar Economic Forum in Doha, Woods added that the company had asked the U.S. administration for... Continue Reading →
Brazil Energy Insight 