Norwegian shipowner Solstad Offshore has bounced back in black as a result of successful financial restructuring. The company posted quarterly profit of NOK 11.43 billion, compared to NOK 1.19 loss same time last year. Full-year result was positive, with profit of NOK 7.23 billion, against NOK 3 billion loss in 2019. Revenue for the fourth... Continue Reading →
Oslo-listed marine contractor Siem Offshore has reduced its Q4 2020 deficit despite revenue drop of 20 per cent against prior-year quarter. Quarterly operating revenues were $57 million, compared to $71 million in Q4 2019. The decrease in revenues from 4Q 2019 is mainly due to lower revenues from the AHTS fleet, the Brazilian and the... Continue Reading →
A new company in Colombia has proposed the South American republic’s first offshore wind farm.The Colombian Martime General Directorate (DIMAR) issued Resolution 9 of 2021 in January. This authorizes Vientos Alisios to conduct pre-feasibility studies from the Port of Cartagena.The proposed 200 MW wind farm, 15 km from the coast, is expected to use 35... Continue Reading →
Employment in the oil and gas sector, despite some expected uptick, will never return to its heydays of a few years ago, but offshore wind, however, will be "the new hiring haven for energy jobs," especially in the turbine making segment, Norwegian energy intelligence firm Rystad Energy said Friday. The firm sees hundreds of thousands... Continue Reading →
Italy's Saipem and renewable energy companies AGNES and Qint’x have applied for permits to develop one of the world's biggest offshore clean energy hubs, to generate wind and solar power and produce green hydrogen, Saipem said on Thursday. The companies have agreed to build 620 megawatts of wind and solar capacity off the coast of... Continue Reading →
The global financial investment for offshore wind capacity set records in 2020, with total capacity investment as well as cash amount earmarked surpassing that of 2018, the previous record year, according to The Renewables Consulting Group (RCG). RCG said that the total capacity financed for offshore wind in 2020 had hit 8,370 megawatts (MW) across... Continue Reading →
Another company involved in the oil & gas sector has set its sights on offshore wind, as the industry increasingly moves towards renewable energy amid the global energy transition. The latest to announce its clean energy plans is BW Offshore, which is now in investment discussions with the floating wind company Ideol. The Norway- and... Continue Reading →
(Reuters) - Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as oil output was set to decline from its 2019 peak. The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in... Continue Reading →
Equinor (STOHF) (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of positive USD 0.76 billion and negative USD 0.55 billion after tax in the fourth quarter of 2020. IFRS net operating income was negative USD 0.99 billion and the IFRS net income was negative USD 2.41 billion, following net impairments of USD 1.30 billion and a... Continue Reading →
For the offshore wind industry, 2020 was all about ambitions. Policymakers raised the bar for growth, focusing on job creation amid the offshore wind cost-out and the coronavirus pandemic. Renewables targets were raised and decarbonization plans that span the length of the supply chain were brought forward. This momentum is likely to continue in 2021,... Continue Reading →
