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(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 ($1.01 billion) to the latest renewable energy fund of investment firm Copenhagen Infrastructure Partners (CIP). Norges Bank Investment Management (NBIM) committed the sum to CIP's fifth flagship fund CI V, which invests in offshore and onshore wind, solar farms, grid... Continue Reading →
(Reuters) - Wind and solar energy producers in Brazil have warned they are reconsidering future investments there after the national grid operator repeatedly capped how much energy they could deliver in the past year, which squeezed their profits. Brazil has made big strides encouraging companies to invest in wind, solar and other renewable power generation... Continue Reading →
(offshoreWIND.biz) As of 2023, there was around 270 MW of floating wind capacity in operation, with the global pipeline for new floating projects standing at 244 GW, according to a market outlook report commissioned by the 2023 Japanese G7 Presidency and issued by the International Renewable Energy Agency (IRENA). According to the report, meeting the... Continue Reading →
(offhsoreWIND.biz) The US State of Maine and the Federal Bureau of Ocean Energy Management (BOEM) have agreed on a floating offshore wind research lease in the Gulf of Maine, which could allow for the deployment of twelve floating wind turbines capable of generating 144 MW. The research lease site, an area of up to 15... Continue Reading →
(PN) The recent contracts awarded by Petrobras to the SLB Onesubsea group for the supply of subsea equipment for the Sépia and Atupu fields in the Santos Basin, and Roncador in the Campos Basin, signal the importance that Brazil will have for the subsea industry in the coming years. According to a recent analysis published... Continue Reading →
Petrobras informs that its Board of Directors approved, in a meeting held today, the payment of interim and intermediate dividends, as well as interest on equity (JCP), in the amount of R$ 13.57 billion, equivalents to R$ 1.05320017 per outstanding common and preferred share. The proposed distribution is in line with the current Remuneration Policy... Continue Reading →
(Reuters) An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said. Chevron last October offered to pay $53 billion for Hess, one of the two biggest deals in the largest wave of consolidation... 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 →
(OE) British startup DRIFT Energy has closed a seed funding round for making green energy at sea using hi-tech sailing vessels. Led by Octopus Ventures, one of the largest and most active venture capital investors in the UK and Europe, and with support from Blue Action Accelerator, the company has secured £4.65 million ($6 million),... Continue Reading →
