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Offshore drilling is making a comeback after several challenging years, and Transocean, a major deepwater drilling contractor, expects to see a multi-year upcycle in the offshore drilling industry. "Looking back, 2022 will be remembered as a pivotal year in Transocean’s history," said Chief Executive Officer Jeremy Thigpen in an announcement on the company’s financial results on Tuesday.... Continue Reading →
(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today reported fourth quarter 2022 results. President and Chief Executive Officer Anton Dibowitz said, "I would like to thank the entire Valaris team for continuing to deliver excellent operational performance, achieving revenue efficiency of 98% during the fourth quarter. This strong operational performance has translated into... Continue Reading →
(Reuters) - Spain's biggest utility Iberdrola (IBE.MC) expects its net profit to increase by 8% to 10% this year from 2022, it said on Wednesday, discounting the country's windfall tax that would cut the growth rate to the mid-single-digit. Following Russia's invasion of Ukraine a year ago, energy markets in Europe hit record highs, adding to economic... Continue Reading →
(Reuters) - French energy company Engie (ENGIE.PA) reported a sharp increase in its annual profit, helped by higher natural gas and power prices in the wake of Russia's invasion of Ukraine. The company said its net recurring income for 2022 totalled 5.2 billion euros ($5.55 billion), up from 2.9 billion euros in 2021. Full-year earnings before tax... Continue Reading →
TechnipFMC has secured a “significant” contract with TotalEnergies EP Angola for the supply of flexible pipe and associated hardware for a life extension project. The contract covers the engineering, procurement, and supply of flowlines and connectors for the Girassol Life Extension project (GIRLIFEX) offshore Angola. According to TechnipFMC, the flexible pipes are set to extend the life... Continue Reading →
Offshore installation firm DEME Offshore will need to deploy its special drilling technology again to install offshore wind monopiles at an offshore wind farm in France, due to rough ocean conditions and a rocky seabed. The company recently secured two deals for the transportation and installation contracts for the foundations and the offshore substation for the Yeu... Continue Reading →
(OE) DNV said Monday it was launching the second phase of H2Pipe, a joint industry project (JIP) aiming to develop a new code for the design, re-qualification, construction, and operation of offshore pipelines to transport hydrogen—either pure or blended with natural gas. DNV’s Hydrogen Forecast to 2050 anticipates that over 50% of hydrogen pipelines globally... Continue Reading →
(Reuters) Guyana Vice President Bharrat Jagdeo told Reuters the country plans to take back 20% of the giant Stabroek oil block that has been responsible for a series of massive discoveries from a consortium led by Exxon Mobil Corp., and remarket it by next year. More than 11 billion barrels of oil and gas found... Continue Reading →
(Reuters) - U.S. prosecutors on Friday unveiled corruption charges against a Connecticut oil and gas trader and a second man over their alleged roles in a bribery scheme to win business from Brazil's state-owned oil company Petrobras (PETR4.SA). The Department of Justice said that between 2010 and 2018, Glenn Oztemel, 64, of Westport, Connecticut, and Eduardo... Continue Reading →
(OE) Dutch offshore wind foundation maker Sif this week said it would build the world's largest monopile foundation manufacturing plant in Rotterdam, the Netherlands, with an estimated investment of around €328 million. The plant will be built at the 62 hectare Maasvlakte 2 site in Rotterdam, the Netherlands, as an extension of the existing facilities... Continue Reading →
Brazil Energy Insight 