Subsea sector urged to act now to profit from energy transition

The subsea industry must act now to capitalize on the energy transition as the road to net zero is already underway and companies need to meet the change of pace required, according to Tom Heggarty, principal analyst in Wood Mackenzie’s Energy Transition Practice. Opportunities include facilitating the growth of the offshore wind market by supporting the installation of turbines, the... Continue Reading →

Renewables and grids support Iberdrola earnings and outlook

(Reuters) Europe's biggest wind power group Iberdrola (IBE.MC) reaffirmed its 2021 growth outlook on Wednesday after reporting rising quarterly earnings supported by rapid building of renewable energy plants and investments in networks. Buoyed by a global shift towards the low-carbon energy sources it has been investing in for two decades, northern Spain-based Iberdrola plans to almost triple... Continue Reading →

Subsea 7 earnings up in Q1 2021

Subsea 7 has reported an adjusted EBITDA increase of 50 per cent in the first quarter of 2021, to $102 million, compared to $68 million from the same period in 2020. According to Subsea 7, the mentioned boost is driven by progress on Subsea and Conventional projects, high utilization of the PLSVs, and activities on... Continue Reading →

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