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Engineering and energy advisory consultancy Apollo has secured Phase 2 concept definition contract from Net Zero Technology Centre (NZTC) for the Hydrogen Offshore Production (HOP2), which aims to progress the design of 500MW offshore hydrogen production facility for HOP2. The second phase of the project builds on Apollo’s earlier work, and aims to further develop... Continue Reading →
(OE) Energy company Saipem’s performance in 2024 confirms, for the third consecutive year, a trajectory of growth and margin recovery for the group, as well as an acceleration in cash flow generation and the strengthening of the company’s balance sheet. Revenue stood at €14.5 billion in 2024, and EBITDA adjusted at €1.3 billion, corresponding to... Continue Reading →
(OE) The N05-A platform is the first offshore gas platform in the Dutch North Sea to be powered entirely by wind power – harnessing electricity via cable from the nearby 113.4 MW Riffgat offshore wind farm. The platform is part of the GEMS (‘Gateway to the Ems’) project, which focuses on developing field N05-A and other fields in the... Continue Reading →
(offshore-energy.biz) Switzerland-headquartered offshore pipeline installation, heavy lift, and subsea construction contractor Allseas has put the wheels into motion to get ready for its new assignment on Brazil’s second largest oil field. With its headquarters in Switzerland and central engineering and project management office in the Netherlands, Allseas has opened a new project management and engineering... Continue Reading →
(Reuters) - BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part of a strategy shift announced on Wednesday to tackle investor concerns over earnings, two sources told Reuters. BP's shares have underperformed rivals in recent years and the oil major has already dropped... Continue Reading →
(Reuters) - Guyana's average oil production fell to some 620,000 barrels per day in January from 656,000 bpd in December, the lowest monthly figure since August, the Natural Resources Ministry said on Friday in a report. A consortium led by U.S. oil major Exxon Mobil and involving Hess and China's CNOOC controls all crude and gas output in... Continue Reading →
(OM) The Guyana-Suriname basin has seen significant activity in recent years, with Guyana alone unearthing more than 13 billion barrels of oil equivalent (boe) of discovered volumes in the past decade. As operators in offshore Guyana continue to explore and develop its resources, the focus on its coastal neighbor, Suriname, is growing. Rystad Energy analysis forecasts... Continue Reading →
(OE) The Agogo floating, production, storage and offloading (FPSO) unit is ready to set sail from Chinese shipyard to Azule Energy’s development offshore Angola. Yinson Production has officially named the Agogo FPSO at a grand naming and sail away ceremony held at Cosco Shipping Heavy Industry (Shanghai) shipyard in Shanghai, China. The vessel is now... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed a long-term Liquefied Natural Gas (LNG) purchase and sale agreement with the British company Centrica. The agreement represents an important step in the company's strategy, as it reduces exposure to spot prices, increases competitiveness and assures greater security of supply of natural gas to Brazil.... Continue Reading →
Neoenergia released its financial and operating results for the fourth quarter and the accumulated total for 2024. Adjusted profit was R$1.4 billion in the fourth quarter and R$4.3 billion in 2024, in line with 2023. In 2024, Neoenergia increased investments, ensuring the quality of energy delivery, with cost discipline and control of operating expenses below... Continue Reading →
Brazil Energy Insight 