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Seaway 7, a fixed-bottom offshore wind installation affiliate of Subsea 7, on Monday revised its adjusted EBITDA guidance for the full year 2022, citing issues with offshore wind projects in the Netherlands and Taiwan. The company said its revenue is expected to be in line with previous guidance towards $1 billion, with an Adjusted EBITDA... Continue Reading →
(Reuters) - Energy security concerns raised by Russia's invasion of Ukraine have provided even more impetus for adopting a range of low-carbon technologies to meet the Paris climate accord goals, industry executives told the Reuters Global Markets Forum (GMF). "Renewables in and of themselves aren't enough to solve this problem," Standard Chartered (STAN.L) Chief Executive Bill Winters... Continue Reading →
Corio Generation, a recently established offshore wind branch of Macquarie's Green Investment Group (GIG), is planning a major new offshore wind project in Australia, named Great Eastern Offshore Wind. If approved for construction following ongoing feasibility studies and consultation with local stakeholders, the 2.5 GW project could be among the first tranche of offshore wind... Continue Reading →
(OW) Wind Catching Systems AS (WCS), the Norwegian developer of a floating wind system using multiple turbines, has completed a Series A investment round of up to USD 10 million led by the venture capital arm of an undisclosed global industrial company. The proceeds from the Series A financing will be used to fund the... Continue Reading →
(OW) KfW IPEX-Bank, together with Crédit Agricole CIB, Banco Santander, S.A., Mizuho Bank, European Investment Bank (EIB), and the Danish Export Credit Agency (EKF), has decided to finance the 30 MW Eoliennes Flottantes du Golfe du Lion (EFGL) floating wind project offshore France. KfW IPEX-Bank is the first German bank to finance a floating offshore wind farm,... Continue Reading →
(Reuters) - Venezuela's state-run PDVSA last month began switching most oil sales to prepayment, requiring spot cargo buyers pay in full before tankers can set sail after several recent defaults, three people close to the decision said. The new payment terms, first communicated in April to companies intermediating in the oil sales, sharply reduced May... Continue Reading →
(Reuters) - High ethanol and sugar prices have investors looking into merger deals in Brazil, where a lot of idle biofuel capacity could be put to work to help boost tight global fuel and food supplies. "Brazil is the Saudi Arabia of sugarcane, there is inexpensive unused capacity. That is the investor dream," said Craig... Continue Reading →
(Reuters) - Colombia's leftist firebrand presidential candidate Gustavo Petro is too close in recent polls for the comfort of oil companies and miners who worry that his promised policies would imperil Colombia's economy and energy self-sufficiency, high-ranking industry figures and business associations said. Petro, currently a senator, told a rally last month that coal and... Continue Reading →
(Reuters) Portugal wants to speed up its energy transition and will double the capacity of its first auction for floating offshore wind farms to 6-8 gigawatts (GW), Environment Minister Duarte Cordeiro said on Wednesday. As part of a global shift from carbon-emitting fossil fuels, countries are betting on new technologies to boost power generation from... Continue Reading →
(Y!F) With billions of people staying at home and the global economy shrinking, oil demand dropped significantly amid the coronavirus pandemic. Oil markets had been in turmoil and producers throughout the world encountered more challenges than ever. However, two years after the pandemic-driven epic oil price crash, optimism is back in the sector, with the... Continue Reading →
