Offshore drilling contractor Transocean is expecting the demand for its rigs to remain high in the offshore drilling market, leading to a further improvement in day rates and fleet utilization. In July 2022, Transocean’s quarterly fleet status report showed a total backlog of about $6.2 billion, however, thanks to the new deals and extensions for its rigs, the firm... Continue Reading →
Four Petrobras CEO Candidates to Watch as a Lula Shakeup Looms
(Bloomberg) -- Investors are closely watching whom Brazilian President-elect Luiz Inacio Lula da Silva will pick to lead Petroleo Brasileiro SA to gauge how much its business strategy will change under the new, more left-wing administration. Lula, a former president who oversaw Petrobras’s expansion into the famed pre-salt region that now delivers about 70% of... Continue Reading →
Crowley, Humboldt Bay to Develop and Operate California Wind Terminal
(OE) Crowley signed an agreement on Thursday with the Port of Humboldt Bay to exclusively negotiate to be the developer and operator of a terminal to serve as California’s first hub for offshore wind energy installations. Through Crowley’s Wind Services group, the company will enter into negotiations with the port to lease and serve... Continue Reading →
High offshore wind demand lifts Fugro
(OEM) Fugro has reported a revenue of €480.2 million for the third quarter of 2022, an increase of 17.4% compared to €378 million in Q3 2021, said to be supported by high demand for offshore wind solutions. The increase in revenue was fuelled by ongoing high client demand across markets, most notably renewables, and to... Continue Reading →
Chevron’s $11.2 billion quarterly profit soars past estimates
(Reuters) - Chevron Corp (CVX.N) on Friday reported its second-highest ever quarterly profit, blasting past analysts' estimates, driven by soaring global demand for its oil and gas and rising production from its U.S. oilfields. The surge comes as oil companies book mounting profits with prices near record levels and supplies tight on output cuts during the COVID-19... Continue Reading →
GE cuts full-year earnings forecast on troubles at renewable energy business
(Reuters) - General Electric Co (GE.N) on Tuesday trimmed its full-year profit forecast after reporting a decline in third-quarter earnings, primarily due to higher warranty and related reserves at its renewable energy business. The company, however, reported much higher-than-expected free cash flow. Its quarterly revenue also topped Wall Street's estimates. GE's shares were down about 1.8% at... Continue Reading →
World’s Largest Oilfield Services Firm Rebrands for a Lower-carbon Future
(OE) Schlumberger, the world's largest oilfield services provider, is rebranding itself with a new name, color scheme and logo that underscores its ambitions for a lower-carbon future, the company said on Monday. The nearly 100-year-old firm, originally named after its founding family, has become a giant in oilfield services and equipment such as drilling and... Continue Reading →
Equinor Aims at Data Efficiency and a Low Carbon Future with Microsoft Tools
(TN) Global energy company Equinor is committed to a sustainable, low-carbon future and believes that the effective use of data is essential to achieving its goals. To break down corporate data silos and provide employees with all the information they need to make effective decisions, the company chose to implement Microsoft Energy Data Services in... Continue Reading →
ECA Group and iXblue join forces and become Exail
Following the acquisition of iXblue by Group Gorgé end of September, ECA Group and iXblue announced today that both companies will be operating under a new joint brand: Exail. With this alliance, Exail becomes a global high-tech industrial champion specializing in cutting-edge robotics, maritime, navigation, aerospace and photonics technologies. Combining complementary technological expertise and geographical... Continue Reading →
Equinor Names New Head of US Offshore Wind Business
Norwegian energy giant Equinor said Monday that Molly Morris would take over as the new President of Equinor Wind US, effective January 1, 2023, succeeding Siri Espedal Kindem, "who will take on a new exciting opportunity within Equinor." Morris joined Equinor in 2008 and has since taken on a variety of important roles in the... Continue Reading →
Brazil Energy Insight 