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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 →
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 →
(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 →
(Reuters) - The election of Colombia's first leftist president, Gustavo Petro, is indicative of widespread yearning for a more equal and inclusive society, analysts and business leaders said, but the former guerrilla will need to act fast to reassure investors. Petro, a 62-year-old former mayor of the capital Bogota and current senator, won some 50.4%... Continue Reading →
(OE) Offshore vessel designer GustoMSC, part of NOV, has launched a next-generation heavy lift crane vessel series called ENSIS, planned for foundation installation for the offshore wind farms of the future. "GustoMSC's new ENSIS heavy lift crane vessel series addresses the needs of the growing offshore wind foundation market. With monopiles and jackets increasing in... Continue Reading →
Bloomberg) -- A bitter dispute between Jair Bolsonaro and Petrobras intensified as the state-controlled oil giant shrugged off the president’s warnings and increased fuel prices, adding to the Brazilian leader’s difficulties as he struggles to contain inflation in an election year. Petrobras shares plunged as much as 9% on Friday, extending losses after Brazil’s Lower... Continue Reading →
With 15 GW in offshore wind projects in Brazil under licensing, Ocean Winds — a joint venture between Engie and EDP Renováveis for offshore wind power generation — believes that investments in the implementation of the first projects in the country will be higher than in the rest of the world. “At first it will... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) is set to announce a fuel price increase on Friday, local media reported on Thursday, raising alarm bells within the country's top political ranks. According to O Globo, the company's board has approved diesel and gasoline price increases that will come into effect next week. Petrobras said it could... Continue Reading →
(Reuters) - Argentine state company Energia Argentina signed a contract Thursday with pipeline producer Tenaris (TENR.MI), a critical step toward the completion of a pipeline to transfer gas from Argentina's giant Vaca Muerta shale formation. The government says the pipeline will allow Argentina to forgo costly imports of liquefied natural gas and reverse a large energy... Continue Reading →
(OW) American multinational automotive manufacturing corporation General Motors (GM) has led a Series A investment round of up to USD 10 million into Wind Catching Systems, the Norwegian developer of multi-turbine floating offshore wind systems, to help fund the development and commercialization of the technology. General Motors has made the investment through GM Ventures, the... Continue Reading →
