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(offshoreWIND.biz) Fuinneamh Sceirde Teoranta (FST), a joint venture owned by Corio Generation and Ontario Teachers’ Pension Plan, has submitted a consent application for Sceirde Rocks Windfarm to Ireland’s planning authority, An Bord Pleanála. The developer says the project is the first offshore wind farm proposed for Ireland’s west coast as the five other projects currently... Continue Reading →
(Reuters) - TotalEnergies said its fourth-quarter results would benefit from a slight pickup in refining margins, increased production and stronger gas trading and power sales, signalling a potential turnaround at the end of a year marked by low oil prices and refined products demand. The world's top oil and gas companies have watched their profits decline... Continue Reading →
(offshore-energy.biz) Despite the challenges hitting the fossil fuel industry, demand for hydrocarbons remains steady, as confirmed by the global engineering, procurement, and construction (EPC) contracting activity across the offshore oil and gas landscape. The batch of new projects, which are expected to reach the EPC stage this year, will lead to awards worth billions of... Continue Reading →
(Reuters) - BP warned on Tuesday that its fourth-quarter results will be hit by weaker oil and gas production, refining margins and trading, while also delaying a highly-anticipated investor day due to a medical procedure undergone by CEO Murray Auchincloss. The British company said Auchincloss will be back in the office in February after undergoing a... Continue Reading →
(OE) Yinson Production has entered into a definitive agreement with a consortium of global investment firms to raise pre-IPO growth capital of $1 billion to support further growth. The $1 billion pre-IPO consists of redeemable convertible preferred shares and 10% warrants, with the option to upsize to $1.5 billion within 24 months. The transaction is... Continue Reading →
( offshore-energy.biz) Ireland-based XOCEAN has secured €115 million in funding to support the growth in the offshore energy and civil hydrography sectors. The Irish ocean data company closed the financing round with support from S2G Ventures, Climate Investment (CI), Morgan Stanley’s 1GT fund, and CC Industries (CCI), a Crown Family affiliate. XOCEAN operates a fleet... Continue Reading →
(offshore-energy.biz) Malaysia’s Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson Holdings, has highlighted that its third floating production, storage, and offloading (FPSO) unit in Brazilian waters, which recently achieved first oil, will feature a carbon management process plant to decarbonize the FPSO operations in line with the firm’s sustainability goals. The... Continue Reading →
(Bloomberg) -- Shell Plc said its natural gas divisions saw lower sales volumes and trading earnings, the latest sign that 2024 ended on a weak note for major energy companies. The warning on Shell’s crucial natural gas division, in a fourth-quarter trading update published on Wednesday, was accompanied by figures showing a slight rise in... Continue Reading →
(Reuters) - Guyana's oil exports rose 54% last year to some 582,000 barrels per day (bpd), fueled by European refiners' demand for easy-to-process sweet crudes to replace some Middle Eastern grades, according to traders and shipping data from financial firm LSEG. Since it started exporting oil in early 2020, the burgeoning oil nation has emerged as the... Continue Reading →
(Reuters) Exxon Mobil signaled on Tuesday that sharply lower oil refining profits and weakness across all its businesses would reduce its fourth-quarter earnings by about $1.75 billion from the prior quarter. The oil major also said in an SEC filing that upstream asset sales would benefit results by about $400 million, but overall impairments would... Continue Reading →
Brazil Energy Insight 