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(OE) Norwegian offshore vessel operator Solstad Offshore has secured a contract with Petrobras for its construction support vessel (CSV) Normand Commander. The vessel will be on a bareboat contract from the vessel owner Solstad Maritime to Solstad Offshore, who holds the contract with Petrobras. The four-year contract will start in the first quarter of 2026.... Continue Reading →
(Reuters) Exxon Mobil, the United States' biggest oil producer, beat Wall Street estimates for second-quarter profit on Friday as higher oil and gas output and low production costs offset the impact of lower crude prices. Oil and gas production was the highest for any second quarter since the merger of Exxon and Mobil formed the... Continue Reading →
(Reuters) Chevron beat analyst estimates for second-quarter profit on Friday as record oil and gas production and lower capital expenditure helped the U.S. oil producer boost earnings despite weaker crude prices. The No. 2 U.S. oil major triumphed last month in a legal challenge from Exxon Mobil XOM.N in order to close its $55 billion... Continue Reading →
(OE) Norwegian offshore supply vessel owner DOF Group has secured a contract with Petrobras for two of its anchor handling tug supply (AHTS) vessels. The two contracts, with a combined value of more than $220 million, are for Skandi Fluminense, a 2007 Brazilian-built AHTS vessel with 211t bollard pull, and Skandi Lifter, a foreign-flagged 250t... Continue Reading →
July 31 (Reuters) - Shell's second-quarter net profit tumbled by almost a third on Thursday, dragged down by a drop in oil prices, lower gas trading results and outage-related losses from its chemicals operations, but it still easily beat analysts' forecasts. The oil major, meanwhile, said it would maintain the pace of its share buyback programme... Continue Reading →
July 28 (Reuters) - Mexican state energy company Pemex on Monday reported a net profit of 59.52 billion pesos ($3.17 billion) for the second quarter of this year, helped largely by a more favorable exchange rate. Like most of its Latin American peers, Pemex is essentially a dollar-denominated state company, including for the vast majority... Continue Reading →
July 28 (Reuters) - The Portuguese government plans to invest up to 400 million euros ($466 million) to improve grid management and boost battery storage following a massive blackout across Spain and Portugal in April. Energy Minister Maria da Graca Carvalho said on Monday about 137 million euros of the investment would go towards improving the operational... Continue Reading →
July 28 (Reuters) - Wind turbine maker Nordex on Monday reported second quarter core earnings that were above analysts' consensus forecasts. The German onshore wind turbine company posted earnings before interest, tax, depreciation and amortization (EBITDA) of 108.2 million euros ($127.09 million), above analyst expectations of 102 million euros in a company-compiled consensus. That was up... Continue Reading →
(offshore-energy.biz) A new project has been launched in the UK to improve the effectiveness of mooring lines and dynamic cables on floating offshore wind farms. Historically, mooring repair costs for oil production assets have exceeded GBP 400 million (approximately $542 million; €461 million) for a single incident, while cable failures have accounted for between 70%... Continue Reading →
(OE) U.S.-based low-carbon marine power, data, and service solutions provider Ocean Power Technologies (OPT) has signed a new reseller agreement with a Latin America-based partner focused on supporting the Mexican offshore and maritime markets. The partnership significantly expands OPT’s commercial footprint across Latin America, leveraging the reseller’s regional presence and relationships within Mexico. Under the... Continue Reading →
Brazil Energy Insight 