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(Reuters) - Shareholders of Brazilian power firm Eletrobras on Tuesday elected a new board and approved a proposal to end a legal dispute over the government's voting power in the company. The agreement allows the government to nominate three of Eletrobras' 10 board members. Shareholders elected Vicente Falconi, Ana Matte, Felipe Villela, Marisete Pereira, Carlos Ferreira and Jose... Continue Reading →
(OE) Equinor on Wednesday said it believes the decision of U.S. President Donald Trump's administration to halt the construction of a multi-billion dollar offshore wind power project is unlawful and that the group may take legal action. In a blow to the nascent U.S. offshore wind industry, Interior Secretary Doug Burgum said on April 16... Continue Reading →
(Reuters) - The main Colombian guild for oil, gas, and energy service companies proposed on Tuesday several measures to mitigate the drop in exploration and production (E&P) of oil and to take on the natural gas deficit in the South American country. Campetrol's proposed measures include declaring offshore projects necessary for future gas supply, adjusting... Continue Reading →
(Reuters) BP on Tuesday reported a deeper-than-expected 48% drop in net profit to $1.4 billion on weaker refining and gas trading and announced the departure of its strategy chief. CEO Murray Auchincloss is in under pressure from activist investor Elliott to improve profitability and cut costs. He has announced plans to sell $20 billion of... Continue Reading →
(offshoreWIND.biz) The consortium behind the Hibiki floating wind turbine in Japan has announced that the 3 MW two-bladed project entered commercial operation. The Hibiki barge-type floating system, the first of its kind in Japan, features the Aerodyn SCD 3 MW two-bladed turbine installed on Ideol’s Damping Pool floating foundation. Located 15 kilometres off the Kitakyushu coast,... Continue Reading →
(Reuters) Oil giant Shell will pull out of three offshore gas projects in Colombia's Caribbean, it owns together with Colombia's state-run oil company Ecopetrol, the groups said on Thursday. Shell had acquired a 50% operating stake in Col 5, Purple Angel and Fuerte Sur deepwater blocs in 2020. "They no longer fit our strategic ambitions.... Continue Reading →
(OE) The U.K. government has allocated $400 million, via publicly-owned clean energy company Great British Energy, to strengthen the domestic offshore wind supply chain. The funding, announced by U.K.’s Prime Minister Keir Starmer, will boost domestic jobs, mobilize additional private investment, and secure manufacturing facilities for critical clean energy supply chains like floating offshore platforms.... Continue Reading →
(offshoreWIND.biz) The Portuguese government has outlined the framework for the country’s first auction of commercial-scale offshore wind farms, which is expected to take place later this year. Published on 21 April in the Diário da República, the order sets out a centralised sequential model for allocating offshore wind development areas, in alignment with the National Energy... Continue Reading →
(Reuters) - GE Vernova reported first-quarter revenue on Wednesday that beat Wall Street estimates on the back of strong performance at its power and electrification units, sending its shares up more than 8% in premarket trading. The results come at a time when the power industry is bracing for the impact of the Trump administration's sweeping tariffs and policies,... Continue Reading →
(OE) New York Governor Kathy Hochul has said she would fight the federal decision to halt all construction for the Empire Wind 1 offshore wind project made by the U.S. Department of the Interior (DOI). The U.S. Interior Secretary Doug Burgum ordered a halt to construction on Equinor's Empire Wind project off the coast of... Continue Reading →
Brazil Energy Insight 