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(Reuters) The Japanese government on Wednesday announced a revision of its rules for offshore wind power auctions as the sector globally grapples with delays and soaring expenses driven by tight supply chains and inflation. After a number of consultations since September to find ways to ensure the completion of offshore projects, Japan's industry and land... Continue Reading →
(offshore-energy.biz) A jack-up rig owned by offshore drilling contractor Valaris is en route to Angola for a drilling contract it secured last year, following preparations in Texas. According to Valaris, after completing a project at the Kiewit Shipyard in Corpus Christi, Texas, the VALARIS 144 rig has embarked on a voyage to Angola for its... Continue Reading →
(Reuters) - Oil and gas producer Hess Corp's fourth-quarter profit surpassed Wall Street expectations on Wednesday, buoyed by higher production volumes in the United States and Guyana. Its total production rose over 18% to 495,000 barrels of oil equivalent per day (boepd) in the quarter, boosted by a 7% increase in volumes in the Bakken shale... Continue Reading →
(Folhapress) The decision by the President of the United States, Donald Trump, to suspend new wind power projects in the country, arguing that windmills “kill their birds and ruin their beautiful landscapes”, has the potential to boost the interest of investors in this sector in the Brazilian market. Trump's action mainly halts future leasing of... Continue Reading →
(OE) Enova, owned by the Norwegian Ministry of Climate and Environment, has awarded a grant of $107 million to Norway-based Wind Catching Systems for the deployment of a Windcatcher multi-turbine floating wind demonstrator. The $107 million has been awarded to Wind Catching Systems’ subsidiary Wind Catching Demo for the deployment of a commercial demonstrator unit... Continue Reading →
(Reuters) Wall Street expects U.S. oil and gas companies to keep a lid on spending in 2025 and keep their focus on generating shareholder returns, despite calls by President Donald Trump to "drill, baby, drill." Big Oil begins reporting fourth-quarter results this week, and outlooks for the coming year should reflect the dissonance between Trump's... Continue Reading →
(Reuters) - U.S. President Donald Trump suspended new federal offshore wind leasing on his first day back in the Oval Office on Jan. 20, pending an environmental and economic review. On the same day, Danish energy company Orsted (ORSTED.CO), opens new tab, the world's biggest offshore wind firm, posted another impairment charge on delays to a U.S. offshore project.... Continue Reading →
(Reuters) A World Bank arbitration tribunal has dismissed a request by Venezuela to annul a $8.37 billion arbitration award to ConocoPhillips, clearing the way for the U.S. producer to reclaim compensation for the expropriation of its oil assets in the South American country. The International Centre for Settlement of Investment Disputes (ICSID) declared the expropriation... Continue Reading →
(OE) Norwegian vessel owner and services provider Solstad Maritime Holding has outlined plans to apply for a listing of its shares on Euronext Oslo Børs during the second quarter of 2025. The listing is in line with the company’s previously expressed intention to list within 12 months after completion of its $66 million (NOK 750... Continue Reading →
(Reuters) - Brazil's first-ever auction to add batteries and storage systems to its national power grid, scheduled for later this year, is seen generating $450 million in investments, according to an estimate by consultancy firm Oliver Wyman. WHY IT'S IMPORTANT The batteries would be able to store energy from wind and solar power, renewable sources... Continue Reading →
