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Philip Lewis contributor: (OE) A fleet of newbuild specialized anchor handlers will be required to help build up the emerging floating offshore wind industry. But since the industry is still in its early days, many unknowns have made it difficult for shipyards and their partners to gear up to build this fleet. This article explores... Continue Reading →
(OE) Offshore drilling rig contractor Seadrill said Tuesday it had generated $414 million in total operating revenues, a sequential increase of $148 million, or 56%, benefitting from contracted rigs acquired as part of the Aquadrill transaction, completed on April 3, 2023. Adjusted EBITDA nearly doubled from $85 million in the prior quarter to $159 million, or... Continue Reading →
(Reuters) - Frontera Energy (FEC.TO) and its unit CGX Energy (OYL.V) expect to complete an analysis in the next two to three months of the Wei-1 oil well in Guyana before deciding whether to upgrade an exploration license to its development phase, Frontera said on Friday. The Frontera-CGX group could become the next oil consortium to advance an oil... Continue Reading →
Wilson Sons, a leader in port and maritime logistics in Brazil, recorded profit of R$197 million in the first half of this year, 23% higher than the same period in 2022. In the second quarter of 2023, the company's profit was R$111 million, an increase of 583% compared to the same period last year. Net... Continue Reading →
(OET) UK-headquartered oil and gas company Tullow Oil has set the wheels in motion to sell its entire interest in Tullow Guyana (TGBV), which includes the Orinduik licence, to Eco Guyana Oil and Gas (Barbados) Limited, a subsidiary of Eco (Atlantic) Oil & Gas, in exchange for a combination of upfront cash and contingent consideration.... Continue Reading →
(Reuters) - Dutch oil and gas services company SBM Offshore (SBMO.AS) reported on Thursday half-year earnings before interest, tax, depreciation and amortisation (EBITDA) that missed consensus estimates and fell below the year-earlier level. It partly attributed the drop to ongoing supply chain challenges and a reduced contribution from the Almirante Tamandaré floating production, storage and offloading (FPSO)... Continue Reading →
(Reuters) On Wednesday, Japanese oil and gas explorer Inpex raised its full-year net profit forecast by 7% and announced measures to boost the company's value and shareholder returns, including a dividend increase and share buyback. To address the country's number of undervalued stocks, the Tokyo Stock Exchange at the end of March called on companies... Continue Reading →
(Reuters) - Siemens Energy's (ENR1n.DE) troubled wind turbine division is not expected to break even before 2026, analysts at JPMorgan and Deutsche Bank said on Wednesday, adding the unit's recovery would take longer than expected amid far-reaching problems. Frankfurt-listed shares in the company were trading 0.79% lower at 0653 GMT, two days after the group disclosed a... Continue Reading →
(Reuters) - The world's leading turbine maker Vestas (VWS.CO) on Wednesday said it aims to turn a profit this year, despite a bigger than expected second quarter adjusted loss and its expectation supply chain disruptions would continue for the rest of 2023. The Danish-listed company is struggling to deliver a backlog of projects from pandemic-hit years and... Continue Reading →
3R Petroleum Óleo e Gas S.A. (“3R” or “Company”) (B3: RRRP3) hereby reports its results for the second quarter of 2023 (“2Q23”). Except as indicated otherwise, the financial and operational information set out below is presented on a consolidated basis and expressed in Brazilian Reais (R$), in accordance with accounting practices adopted in Brazil (CPC)... Continue Reading →
Brazil Energy Insight 