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(Reuters) - GE Vernova on Wednesday reported a rise in fourth-quarter profit, helped by strong performance in its grid equipment and services segment, but missed its revenue estimates. The U.S. government has awarded grants and loans worth billions of dollars to utilities to strengthen their grids, benefiting grid equipment firms such as GE Vernova, after... Continue Reading →
(Reuters) - Halliburton on Wednesday warned of softer activity in North America this year even as the oilfield giant beat analysts' estimates for fourth-quarter profit helped by higher demand for drilling and pressure pumping services in the North Sea and Asia. The tepid outlook echoed that of rival Schlumberger, who flagged a flat 2025 revenue as... Continue Reading →
(offshoreWIND.biz) According to a report released earlier this month, the US offshore wind supply chain spans 40 states as of December 2024, with 1,932 supplier contracts signed for offshore wind and offshore wind-related projects. The report, Offshore Energy at Work, issued by the US offshore renewable energy industry organisation, Oceantic Network on 15 January, shows that... Continue Reading →
(Reuters) - Guyana's economy achieved its fifth consecutive year of double-digit growth in 2024, expanding 43.6% as oil output and exports showed solid increases, the Finance minister said on Friday, but the expansion is expected to slow this year. Latin America's newest oil producer last year became the region's fifth-largest crude exporter after Brazil, Mexico,... Continue Reading →
As of Jan. 17, 2025 creditors take control of Norwegian owned Seacrest Oil company. The company is in default with banks and with Petrobras, from which it acquired the onshore North Capixaba and Cricaré Clusters. After successive negotiations, creditors decided to manage the company and are now looking for an operator for the assets Seacrest... Continue Reading →
(offshore-energy.biz) In the announcement, DOF further revealed its plans to have the vessel fitted with two of its remotely operated vehicles (ROVs) and pursue opportunities in the global subsea market. The 2018-built Skandi Implementer was designed for subsea construction, inspection, repair and maintenance (IRM) and ROV services up to 3,000 meters of depth. The 137.6-meter-long... Continue Reading →
(Reuters) - SLB (SLB.N), opens new tab beat analysts' estimates for fourth-quarter profit on Friday as the oilfield services provider benefited from higher demand for its drilling equipment and technology in North America and international markets. Excluding charges and credits, SLB posted a profit of 92 cents per share for the quarter, compared with the average analyst... Continue Reading →
(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 →
