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(Reuters) - Top Western energy companies are expected to unleash billions in returns to shareholders when they announce what is set be a second-straight quarter of record-breaking profits, lifted by stellar refining margins and high oil and gas prices. A rapid recovery in demand following the end of pandemic lockdowns and a surge in energy... Continue Reading →
(Reuters) - The Biden administration on Wednesday said it had identified 700,000 acres for possible offshore wind energy development in the Gulf of Mexico, seeking to expand a growing clean energy industry to a major U.S. oil and gas hub. It also said President Joe Biden would direct his Interior Department to move ahead with... Continue Reading →
(Reuters) - Shell (SHEL.L) is exploring a sale of its stakes in two U.S. Gulf of Mexico oil and gas developments which could raise as much as $1.5 billion for the energy major, people familiar with the matter said on Wednesday. Potential divestments of some aging assets would allow the company to focus on newer and larger... Continue Reading →
(Reuters) - Brazilian fuel retailer Vibra Energia SA (VBBR3.SA) said on Wednesday that CEO Wilson Ferreira Junior has informed the board of directors he wants to quit the company, amid expectations he might be heading back to power giant Eletrobras (ELET6.SA). Vibra said in a securities filing that Ferreira's resignation comes as he wants to "pursue new professional... Continue Reading →
(OE) Spanish offshore engineering firm Saitec Offshore Technologies and renewables giant RWE on Wednesday marked the completion and the launching operation of their DemoSATH floating wind unit. SATH Technology is based on a concrete platform concept with a plug-and-play Single Point Mooring, the same technology used for FPSOs. The DemoSATH project uses a 2MW turbine... Continue Reading →
(Reuters) - France's government is offering to pay 9.7 billion euros ($9.85 billion) to take full control of EDF (EDF.PA), in a buyout deal that gives it a free hand to run Europe's biggest nuclear power operator as it grapples with a continent-wide energy crisis. The finance ministry said in a statement on Tuesday that the... Continue Reading →
(Reuters) - The governments of Sao Paulo and Minas Gerais, the two most-populous Brazilian states, on Monday cut local taxes on ethanol, a move followed by Parana state, in a bid to make the biofuel more competitive at the pump after a similar gasoline tax cut. Sao Paulo cut the ICMS tax, similar to a... Continue Reading →
Prysmian, the Italian energy and telecom cable systems provider, has won two contracts worth approximately €250 million (around $253,3 million) by Red Eléctrica de España, S.A.U., the transmission system operator of the Spanish power grid. The contracts are for the development of two projects: a submarine power interconnection between the islands of Tenerife and La... Continue Reading →
Prysmian has received the first layer of approval of the construction permits for the development of its new subsea cable plant in Brayton Point, Massachusetts, which will service the U.S. offshore wind sector. Construction is planned to start in the summer of 2023 and to take two years. With a $200 million investment, Prysmian will... Continue Reading →
(Upstream) Brazil’s vast potential for offshore wind generation and the challenges associated with implementing this new industry in a country that is still investing a lot of money in oil and natural gas projects were among the hot topics discussed in Upstream’s latest digital conference. With more than 130 gigawatts of future projects under environmental... Continue Reading →
