Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - China's Sinopec posted a 2.6% rise in net profit for the first half of the year as record oil and gas output compensated for falling domestic demand for refined fuel and petrochemicals. China Petroleum & Chemical Corp., as Sinopec is officially known, reported on Sunday a net income of 37.1 billion yuan ($5.21... Continue Reading →
(Reuters) - Norway's sovereign wealth fund said on Monday it will commit 900 million euros ($1.01 billion) to the latest renewable energy fund of investment firm Copenhagen Infrastructure Partners (CIP). Norges Bank Investment Management (NBIM) committed the sum to CIP's fifth flagship fund CI V, which invests in offshore and onshore wind, solar farms, grid... Continue Reading →
This is an op-ed piece by Liz Burdock, Founder and CEO of Oceantic Network, the US offshore renewable energy industry organisation. (offshoreWIND.biz) When I started Oceantic Network 11 years ago, I was motivated by the confident belief that offshore wind would be an economic and environmental game-changer for the U.S. Not only because of the industry’s... Continue Reading →
(Reuters) - Wind and solar energy producers in Brazil have warned they are reconsidering future investments there after the national grid operator repeatedly capped how much energy they could deliver in the past year, which squeezed their profits. Brazil has made big strides encouraging companies to invest in wind, solar and other renewable power generation... Continue Reading →
(offshoreWIND.biz) As of 2023, there was around 270 MW of floating wind capacity in operation, with the global pipeline for new floating projects standing at 244 GW, according to a market outlook report commissioned by the 2023 Japanese G7 Presidency and issued by the International Renewable Energy Agency (IRENA). According to the report, meeting the... Continue Reading →
(offshoreWIND.biz) The US Bureau of Ocean Energy Management (BOEM) will publish a Call for Information and Nominations (Call) for a second offshore wind energy sale in the Central Atlantic, seeking public input on potential development in areas off the coasts of New Jersey, Delaware, Maryland, Virginia, and North Carolina. BOEM will public the Commercial Leasing... Continue Reading →
(offshoreWIND.biz) Denmark-headquartered Ramboll has acquired its compatriot K2 Management, a global consultancy company specialising in wind and solar energy. Following the acquisition, which is subject to customary regulatory approval, Ramboll’s global wind division will encompass over 900 people across 20 countries, adding a new local presence in Vietnam, Thailand, and Portugal. Ramboll is said to... Continue Reading →
(offhsoreWIND.biz) The US State of Maine and the Federal Bureau of Ocean Energy Management (BOEM) have agreed on a floating offshore wind research lease in the Gulf of Maine, which could allow for the deployment of twelve floating wind turbines capable of generating 144 MW. The research lease site, an area of up to 15... Continue Reading →
(OE) Mitsui O.S.K. Lines, Ltd. completed the purchase on the market of 89,500 shares of common stock of MODEC, Inc. and along with the 10,162,300 shares already acquired in June 2023, MOL now holds a 15% stake in MODEC and will make it an equity-method affiliate. MODEC is a leading company in the offshore oil... Continue Reading →
Wendy Laursen, Contributing Writer (OE) The intermittency of offshore wind power is both a challenge and an opportunity for green hydrogen production. There will be a new generation of platforms taking up space in offshore wind farms as hydrogen production is used to help balance power supply and demand. Green hydrogen could be produced at... Continue Reading →
Brazil Energy Insight 