Brought to you by Quest Offshore & Southern Cone Consultants
Italy’s oilfield services provider Saipem has entered into two new credit facilities totalling approximately €860 million (almost $925.2 million) with a pool of leading national and international banks to further strengthens its financial structure and liquidity. Saipem made the announcement about these two new credit facilities on Monday, 13 February 2023. The Italian giant says... Continue Reading →
Subsea 7's renewable energy focused subsidiary Seaway 7 said Tuesday it had won a large offshore wind contract. For Seaway 7, “large” contracts are worth between $300 million and $500 million. The client hasn't been named, but the contract is for the transport and installation of inner-array grid and export cables for an undisclosed offshore... Continue Reading →
Floating Energy Allyance (FEA) has selected Ocean Infinity to carry out an initial geophysical and geotechnical site investigation at its Buchan floating offshore wind project in Scotland. This represents an important step in the design and assessment process of the project, with the survey campaign taking place later this year, according to FEA. “We are... Continue Reading →
(Reuters Breakingviews) - Heated trade tensions could cool if the United States and the European Union make concessions on hydrogen. Washington’s Inflation Reduction Act includes subsidies that could slash the cost of the element’s sustainably produced “green” version by 2030. If the EU can negotiate better access to America’s production chain while attractively managing its future import... Continue Reading →
European banks risk jeopardizing the path to net-zero carbon emissions and the growth of renewable energy unless they stop directly financing new oil and gas fields this year, investors managing assets worth more than $1.5 trillion said on Friday. ShareAction said it had made the demand in letters sent to the heads of Barclays, BNP... Continue Reading →
(Reuters) - British bank NatWest (NWG.L) said on Thursday it would immediately stop all reserve-based lending for new customers financing oil and gas exploration and extraction, before phasing it out entirely by the end of 2025. The lender's commitment comes as financial firms face greater pressure from policymakers and investors to reduce the scale of climate-damaging carbon... Continue Reading →
(OE) Renewable energy developer and fund manager Copenhagen Infrastructure Partners (CIP) intends to invest 8 billion euros ($8.6 billion) in a large offshore wind power park in Portugal that is preparing its first auction of such concessions. CIP said on Thursday in a statement it aimed to create an installed capacity of 2 gigawatts in... Continue Reading →
(OED) Flotation Energy and Vårgrønn have submitted a marine license application for the Green Volt floating offshore wind farm in the UK. According to the companies, the consent application could allow the project to start generating power in the mid-2020s. The two firms are applying for a lease for Green Volt under the Crown Estate... Continue Reading →
Hordaland district court resolved last week to start bankruptcy proceedings in debt-laden Norwegian offshore vessel owner DOF, which will see the company’s share capital lost and no value left to its shareholders. The move follows DOF creditors’ request after its board of directors failed to secure the majority of shareholders to support the latest restructuring plan which... Continue Reading →
(Reuters) The Danish Energy Agency has suspended reviewing existing and new applications to install new wind farms and other renewable energy projects in the country over a potential conflict with European Union law, it said in a statement late on Monday. "The Danish Energy Agency has suspended the processing of offshore wind projects and other... Continue Reading →
Brazil Energy Insight 