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(Reuters) The share of bank finance going to renewable energy rather than fossil fuels has little changed in six years, raising questions about how fast lenders are pushing energy clients to become greener, according to research published Tuesday. Since 2016 renewable energy has taken 7% of a total $2.5 trillion in bank loans and bond... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the Material Facts disclosed on April 9, 2021, April 13 and 27, 2022, informs that it received today, up front, from TotalEnergies EP Brasil Ltda (TotalEnergies), the amount of R$ 313 million, regarding the complement of the firm compensation (earnout) for fiscal year 2022, related to the... Continue Reading →
(Reuters) - Baker Hughes Co (BKR.O) missed a fourth-quarter profit estimate on Monday as the oilfield services firm navigated challenges including component shortages, supply chain inflation and disruptions caused by Russia's invasion of Ukraine. Drilling activity picked up in 2022 in response to elevated oil prices but the pace remains slower than pre-pandemic levels as several energy... Continue Reading →
(Reuters) - Charges unveiled by two offshore wind sector leaders highlight the challenges the fast-growing renewables industry is facing, ranging from quality issues to cost inflation, that are hitting profit outlooks. Denmark's Orsted (ORSTED.CO), the world's No. 1 offshore wind farm developer, late on Thursday announced a writedown on a large U.S. offshore wind project and... Continue Reading →
Bureau Veritas has been awarded the project certification of Arklow Bank Wind Park Phase 2, off the east coast of Ireland at Arklow, Co. Wicklow, following a competitive tender process. SSE Renewables, the owner of the project, will invest up to €2.5 billion to deliver the project, which is targeting operation in 2028. The company... Continue Reading →
(Reuters) - SLB SLB.N beat Wall Street estimates for fourth-quarter profit on Friday, driven by strong demand for drilling services and equipment from operators as oil and gas prices remained elevated amid tight supplies. SLB benefited from increased oil drilling and production activity in both North America and internationally last year. Revenue from North America... Continue Reading →
(Reuters) King Charles told the British government he would like the expected surge in profit from a 900 million pound ($1.1 billion)-a-year wind farm deal for his Crown Estate to go to the "wider public good" rather than to the royal family. Under agreements announced on Thursday, the Crown Estate will lease sites for six... Continue Reading →
Italian offshore engineering and construction company Saipem announced two offshore contracts worth $900 million in total. First, together with Aker Solutions, Saipem won a contract with the French oil major TotalEnergies in Brazil for the recently sanctioned Lapa Southwest (LAPA SW) Development project. Lapa Southwest is a deepwater oil field in the Santos Basin in the... Continue Reading →
(Reuters) - Siemens Energy on Thursday slashed its 2023 profit outlook after faulty components at the wind turbine fleet of its Siemens Gamesa unit led to higher warranty and maintenance costs, marking the latest setback in the group's troubled relationship. The German supplier of equipment to the power sector, which was spun off from Siemens... Continue Reading →
(OWB) Nucor has introduced Elcyon, the company’s new sustainable heavy gauge steel plate product made specifically to meet the growing demands of America’s offshore wind energy producers. Nucor will manufacture Elcyon at the firm’s new USD 1.7 billion Nucor Bradenburg steel mill in Kentucky, which produced its first steel plate at the end of December... Continue Reading →
Brazil Energy Insight 