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Dutch offshore installation giant Heerema Marine Contractors has said it has developed a new method for the installation of offshore floating wind structures that doesn't require wet-tow and removes the need for marshaling yards. The company said that, while floating wind farms are seen as essential for the world's energy transition, methods under development can... Continue Reading →
TechnipFMC has been granted pilot approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to deploy its Subsea 2.0 equipment for the country’s oil and gas projects. As described, the Subsea 2.0 product, such as trees, manifolds and associated components, are smaller, lighter and use fewer parts than previous generations. The products were designed to... Continue Reading →
(WO) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment. The U.S. and European countries are planning liquefied natural gas terminals that will be in... Continue Reading →
(Reuters) - Washington and Brazil have discussed the South American nation's role in keeping a lid on global crude prices since Russia's invasion of Ukraine, Brazilian Energy Minister Bento Albuquerque told Reuters in an interview on Wednesday. Brazil, with a current output of around 3 million barrels of oil per day (bpd), has been increasing... Continue Reading →
Equinor has published its first Energy transition plan, which will be submitted for an advisory vote by shareholders at the company’s 2022 Annual General Meeting 11 May. The plan provides an overview of how the company is progressing towards its 2050 net zero ambition through short-term actions and medium-term ambitions. Equinor also proposes to amend... Continue Reading →
(Reuters) - The world needs to find $1.3 trillion of incremental investment by 2030 to boost all types of energy output and infrastructure from renewables to oil and gas to avoid an energy crunch, U.S. bank JP Morgan said in its first annual energy outlook. "Our main finding is that by 2030, energy demand growth... Continue Reading →
(Offshore Energy) The global social networking company Meta – formerly known as Facebook – has expressed interest in the hybrid offshore renewable energy solution developed by GEPS Techno. Jean-Luc Longeroche, CEO and co-founder of Geps Techno, said that Meta had confirmed its wish to work with the company in order to multiply the power of its submarine cables by... Continue Reading →
(Offshore Energy) The invasion of Ukraine has led to tighter gas supplies, higher prices, and an uncertain outlook, resulting in a downward revision to the International Energy Agency’s forecast for gas demand this year. According to the IEA’s quarterly update from late last week, the world’s demand for natural gas is set to decline slightly in 2022... Continue Reading →
Navitas Petroleum has agreed to farm into the Sea Lion oil field development project offshore the Falkland Islands. Back January 2020, Premier Oil as the Sea Lion operator, and Rockhopper, as the partner in the project, signed non-binding heads of terms with Navitas Petroleum, with a goal of Navitas eventually obtaining a 30% interest in... Continue Reading →
(Reuters) - Global energy trader Gunvor Group reported a net profit of $726 million for 2021, the highest since 2015, buoyed by its natural gas and liquefied natural gas (LNG) divisions, the company said on Tuesday. The profit was the highest since 2015 when net profit was boosted by the sale of most of its... Continue Reading →
Brazil Energy Insight 