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(Splash) The California Energy Commission has approved a strategic plan to develop a massive floating offshore wind industry with the aim of achieving 25 GW of capacity by 2045. California’s electricity grid is served by nearly 35,000 MW of renewable resources today, but to meet the 2045 goal, the state will need an additional 148,000... Continue Reading →
(OE) Ørsted has completed the acquisition of Eversource’s 50 % share of Sunrise Wind, a 924 MW offshore wind farm located off the coast of New York. The purchase price at closing to acquire Eversource’s share of Sunrise Wind is $152 million. At signing in January 2024, the transaction was valued at $230 million, and... Continue Reading →
(Reuters) Britain's renewables industry has called on the new Labour government to increase the country’s renewable auction budget by hundreds of millions of pounds to help meet its offshore wind target and wider goal to decarbonize the power grid. Labour swept to victory in Britain’s election last week and the party has pledged to expand... Continue Reading →
Philip Lewis, Contributor (OE) U.S. offshore wind aspirations, both federal and state, have resulted in excitement about the potential opportunity of a large U.S. offshore wind market. But uncertainty, initially financially driven and increasingly a result of political uncertainty, is leading us into a challenging period, which will undoubtedly impact short-term activity, according to the latest... Continue Reading →
(Reuters) - Grupo Carso, the Mexican holding company controlled by the family of Mexican mogul Carlos Slim, said on Friday that it has signed an exploration and extraction services contract with state oil firm Pemex for the stalled Lakach natural gas project. With the contract, Grupo Carsobecomes Pemex's partner to develop the project after its... Continue Reading →
(Offshore-energy.biz) After six years of development, sustainability consultancy ERM has launched offshore trials to test its Dolphyn Hydrogen process which combines electrolysis, desalination, and hydrogen production on a floating wind platform, marking the first time hydrogen has been produced from seawater in a marine environment in the UK. The trials conducted in Pembroke Port, South... Continue Reading →
(Offshore-energy.biz) Bermuda-headquartered owner and operator of liquefied natural gas (LNG) midstream infrastructure Golar LNG has sealed a deal with Pan American Energy (PAE), a Latin American integrated energy company, for a multi-year use of a floating LNG (FLNG) vessel, which will leverage Argentina’s prolific natural gas resources, positioning the South American country for further LNG... Continue Reading →
(OE) The European Commission has approved a $11.64 billion (€10.82 billion) French scheme to support the deployment of offshore wind energy, which will help foster the transition towards a net-zero economy. The state aid scheme will run for 20 years. In particular, the measure will support the construction and operation of two bottom-fixed offshore wind... Continue Reading →
Petróleo Brasileiro S.A.- Petrobras, in continuity to the Material Fact disclosed on May 22, 2024, informs that the Court of the Administrative Council for Economic Defense (”CADE”) and Petrobras signed an addendum to the Terms of Cessation Commitment (”TCC”) for Refining, signed in 2019, through which new obligations were agreed involving the activities carried out... Continue Reading →
Petrobras, following up on the release disclosed on February 23, 2024, in which it reported the signing of the contract for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA) to Ambar Energia S.A., announces today that it has closed the transaction. This transaction was carried out by Petrobras... Continue Reading →
Brazil Energy Insight 