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(Reuters) Britain opened an incentive scheme on Thursday for offshore wind projects, seeking to persuade developers to provide the investment to meet an ambitious goal of decarbonising the country's energy system by 2030. The scheme, called the 'Clean Industry Bonus', will provide successful bidders with an initial 27 million pounds ($33.5 million) in funding for... Continue Reading →
(oilnow.gy) With US$17.6 billion in crude exports projected for 2025, the Stabroek Block group could recover up to US$13.2 billion in expenses in 2025. The group—ExxonMobil, Hess, and CNOOC—has committed more than US$54 billion to explore and develop the Stabroek Block resources offshore Guyana. Their production sharing agreement (PSA) with the Guyana government lets them take... Continue Reading →
(offshore-energy.biz) Brazil’s deepwater offshore drilling contractor Ventura Offshore has struck a deal with Umas 1 as the seller of a semi-submersible rig the firm decided to acquire last year to make a lump sum payment as a final settlement. Ventura Offshore Midco disclosed at the end of June 2024 the acquisition of the SSV Catarina, the... Continue Reading →
(Reuters) BP reported quarterly profit of $1.17 billion on Tuesday, weaker than expected and the lowest in four years, while the company promised to reset its strategy, after news broke at the weekend that investor Elliott Management had built up a stake. BP joins other oil majors that have experienced a decline in earnings throughout... Continue Reading →
(offshoreWIND.biz) The Norwegian government has cancelled plans for another fixed-bottom offshore wind tender in the North Sea due to cost concerns, shifting its focus toward developing floating offshore wind projects. On 10 February, the Ministry of Energy announced that it no longer plans to advertise the Sørvest F later this year, which is an extension... Continue Reading →
(OE) Italian offshore energy services firm Saipem has entered into a new $620 million revolving credit facility with a pool of fourteen national and international financial institutions. The facility has a tenor of three years, extendable for a further period of either one or two years at the option of the lenders. The new credit... Continue Reading →
BRAVA ENERGIA S.A. (“BRAVA” or “Company”) (B3:BRAV3), pursuant to CVM Resolution No. 44, following the Notice to the Market disclosed on December 17, 2024, hereby informs its investors and the market in general that it signed, on February 7, 2025, with the consortium formed by Azevedo e Travassos Petróleo S. A. (“A&T”) and Petro-Victory Energy... Continue Reading →
(Reuters) - Shares in BP rose by 7% on Monday, and were on track for the biggest daily gain in two years, as investors anticipated that activist shareholder Elliott Management will press for board changes and strategy shifts to boost returns. BP CEO Murray Auchincloss, appointed in January last year, has struggled to reverse the company's underperformance. Expectations... Continue Reading →
(offshoreWIND.biz) Ørsted will reduce the investment programme the company planned to implement by 2030 by around 25 per cent, saying the reduction was in line with its commitment to ensure a capital structure that can support a solid investment grade credit rating. The slimmed-down strategic investment programme will not affect Ørsted’s construction portfolio which totals... Continue Reading →
(Reuters) - The cost of clean energy technologies worldwide, such as wind, solar and battery storage, are expected to fall further this year, a report by BloombergNEF showed on Thursday, despite rising protectionism in the form of tariffs on green energy imports. WHY IT'S IMPORTANT New wind and solar farms already undercut the production costs... Continue Reading →
Brazil Energy Insight 