Shawcor’s Pipe Coating Division Wins $110M Contract for Deepwater Project in South America

Canada-based Shawcor has informed that its pipe coating division, Pipeline Performance Group (“PPG”), has received a formal contract award for a development project, located offshore in South America. Shawcor had previously announced its conditional award, pending project sanction, in late 2022. Shawcor will provide thermal insulation and anticorrosion coating services from an unnamed Western Hemisphere... Continue Reading →

May 29, 2023 0

Eversource Energy to Sell 50% Stake in US Offshore Wind Site to Ørsted for $625M

(Reuters) Eversource Energy on Thursday agreed to sell its 50% stake in a wind development site off the south coast of Massachusetts to joint venture partner Ørsted for $625 million in cash. The agreement to sell the lease area of about 175,000 developable acres is expected to close in the third quarter of 2023 and... Continue Reading →

May 26, 2023 0

Mexican Tycoon Slim Buys Stake in Zama Offshore Oil Field from Talos

(Reuters) A unit of Mexico's Grupo Carso, controlled by the family of Mexican billionaire Carlos Slim, said on Thursday it has purchased a minority stake in Talos Energy Mexico for $124.75 million to obtain a portion of the offshore Zama oil project. The acquisition needs approval of Mexican regulators, Carso said in its statement. The... Continue Reading →

May 26, 2023 0

Chevron launches sale of Congo oil assets – sources

(Reuters) - Chevron (CVX.N) has launched a sale process for its oil and gas assets in Congo as the U.S. energy giant continues to focus operations on newer and more profitable production, industry sources said. The Congo assets could fetch up to $1.5 billion, according to two sources close to the process. Chevron received bids for the... Continue Reading →

May 25, 2023 0

Exxon-led group earned nearly $6 billion in Guyana last year

(Reuters) - Exxon Mobil Corp (XOM.N) and two partners earned $5.8 billion last year from offshore oil production in Guyana, according to audited results filed in an appeal of a court ruling that found them in breach of insurance obligations. The filing is the first disclosure of 2022 profits Exxon, Hess Corp (HES.N) and CNOOC Ltd (0883.HK) earned from oil produced... Continue Reading →

May 25, 2023 0

The New Exploratory Frontiers and the Brazilian Impasse, by Rodolfo Henrique de Saboia – Director General of ANP

Exclusive article from TN Magazine The oil industry's activity resembles a moving bicycle. Without new impulses, the activity remains for a while, but tends to gradually decline and eventually cease. In the oil sector, these impulses can be given in two ways: with the exploration of new areas; or with investments in existing fields to... Continue Reading →

May 24, 2023 0

NKT’s Massive Investment: New Cable Laying Vessel and Giant Offshore Cable Making Plant

(OE) Denmark-based power cable-making and installation firm NKT said it would invest around one billion euros in its high-voltage power cable business, including a new high-end cable laying vessel, and a new offshore cable production plant in Sweden. NKT said the investment was needed so the company can deliver on its recently secured significant order... Continue Reading →

May 24, 2023 0

UK’s SSE to Spend Up to $50.5B This Decade on Clean Energy Projects

(Reuters) British power generator and network operator SSE Plc on Wednesday set out plans to invest up to 40 billion pounds ($50.48 billion) this decade on clean energy projects and called on the government to ensure the country remains competitive. Britain is aiming to ramp up its renewable power capacity as it seeks to meet... Continue Reading →

May 24, 2023 0

Siemens Gamesa Executive Says Wind Turbine Makers Need Cash Support

(OE) Big Western wind turbine makers need direct financial support to make the investments needed to aid decarbonisation, Siemens Gamesa's operating chief said on Tuesday. The challenge for a turbine maker like Siemens Gamesa, a unit of Germany's Siemens Energy ENR1n.DE, to grow is that it needs to invest billions of euros but does have... Continue Reading →

May 23, 2023 0

Strong start for Seadrill in 2023 with almost fully employed rig fleet

(OET) Offshore drilling contractor Seadrill has managed to enhance its operational and financial performance in the first quarter of 2023. With the offshore drilling upcycle in full swing, the Bermuda-headquartered rig owner believes it is well-positioned to take advantage of the improvements in the market, aided by its recent acquisition of Aquadrill. As the tightening... Continue Reading →

May 23, 2023 0

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