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Subsea 7 has reported a revenue of $1.4 billion for the third quarter of 2022, a decrease of $47 million or 3% compared to Q3 2021, mainly due to a drop in revenue in the Subsea and Conventional business unit. Revenue for the third quarter of the Subsea and Conventional unit was $990 million, a... Continue Reading →
(OE) Over the last few years, many statements have been made concerning growth in offshore wind turbine and foundation installation demand. These statements have been followed, in some cases, by firm orders for high-specification vessels, mainly from established players. However, many of the announcements remain unconverted into shipyard orders. According to a new report released... Continue Reading →
(Reuters) - Oil major Shell (SHEL.L) and state-owned Chinese energy company CGN on Tuesday said that they would drop their plan for a floating wind power project on France's Brittany coast, citing inflation and supply chain problems among other reasons. "The project faced several technical, commercial and financial challenges, all in a context of constantly increasing costs... Continue Reading →
(Reuters) Siemens Energy on Wednesday reported a record order backlog of nearly 100 billion euros ($104 billion), boosting its shares and overshadowing a widening net loss blamed on its struggling wind turbine division, Siemens Gamesa. Siemens Energy - which provides services and equipment to the power sector, such as gas and wind turbines - said... Continue Reading →
Vattenfall has issued a call for tenders under which it will award a framework agreement for cable testing and fault-finding services for its offshore wind farms in Europe. The tender is divided into three lots. The company is looking to award a framework agreement with a maximum of five contractors per lot for the repair... Continue Reading →
UK-headquartered AIS has acquired CRP Subsea as part of its growth strategy and with the aim of expanding its range of subsea offerings. Based in Skelmersdale, England, CRP Subsea, formerly Trelleborg Offshore UK, delivers polymer and syntactic foam-based buoyancy and protection products for the offshore renewables and oil & gas industries. “Considerable growth is expected... Continue Reading →
(OE) First power was produced from the first turbine at Equinor's floating wind farm Hywind Tampen in the Norwegian part for the North Sea. The milestone was achieved at 12:55 CET on November 13. The power was delivered to the Gullfaks A platform in the North Sea. “I am proud that we have now started... Continue Reading →
(Reuters) - German energy company RWE (RWEG.DE) on Thursday said it had won the right to build an offshore wind farm with a capacity of 700 megawatt (MW) in the Dutch part of the North Sea. The wind farm will be built by a Dutch subsidiary of RWE that will get no subsidies on the energy produced.... Continue Reading →
(Reuters) - Portugal expects to become a major producer and exporter of green hydrogen with 70 private investors or groups planning to spend 10 billion euros ($10.2 billion), the environment minister said on Thursday. So-called green hydrogen, produced using renewable electricity, is seen as a key power source that can reduce pollution from long-haul heavy transport,... Continue Reading →
(Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) said on Thursday it missed its full-year target as revenue declined, mostly due to delays in project execution and supply chain disruptions hampering production of wind turbine generators. The company said its core earnings margin during the year that ended on Sept. 30 was minus 5.9%, below its own August... Continue Reading →
Brazil Energy Insight 