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(Reuters) Renewable energy grew at its fastest pace in two decades last year, led by China, and will continue to grow in the next two years, a report by the International Energy Agency (IEA) showed on Tuesday. New renewable energy capacity in 2020 rose by 45% to 280 gigawatts (GW) last year, the largest year-on-year... Continue Reading →
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 →
Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday. Its updated models show renewables meeting 74% of total energy demand by 2050, compared to 43%, 45% and 69% in the most aggressive... Continue Reading →
(Reuters) Siemens Energy (ENR1n.DE), which supplies turbines to the power sector, on Wednesday lowered the upper end of its target range for 2021 sales, hurt by weaker-than-expected demand, project delays and the ongoing coronavirus crisis. Revenues are now expected to grow 3-8% in the year to September, compared with a previous range of 2-12%. According to... Continue Reading →
Dutch oil & gas exploration and production operating company ONE-Dyas plans to power a platform at a North Sea gas extraction field solely by the electricity from the Riffgat offshore wind farm in the German part of the North Sea. ONE-Dyas, together with partners Hansa Hydrocarbons and EBN, aims to extract natural gas from the... Continue Reading →
Equinor (STOHF) (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of USD 5.47 billion and USD 2.66 billion after tax in the first quarter of 2021. IFRS net operating income was USD 5.22 billion and the IFRS net income was USD 1.85 billion. The first quarter of 2021 was characterised by: Strong results due to price... Continue Reading →
Oil major BP has tripled its quarterly profit due to exceptional gas marketing, significantly higher oil prices, and higher refining margins. BP on Tuesday posted an underlying replacement cost profit for the first quarter of $2,63 billion, a significant rise when compared with $0.8 billion for the same period in 2020. According to the company, this... Continue Reading →
(OE) Offshore wind (OSW) energy is a new focus for the U.S. under President Biden, who highlighted it in his January 27, 2021 Executive Order on climate. Since then, there have been several new supporting developments: Rulings by the Customs and Border Patrol (CBP);Announcement that workers in Alabama and West Virginia are supplying 10,000 tons... Continue Reading →
The year 2021 has been, so far, good news for the Campos Basin. After the launch of PROMAR and the drilling of an ExxonMobil well in the region, the positive news now comes from the Anglo-Dutch company Shell. The president of the oil company in Brazil, André Araújo, participated in a conversation with journalists and... Continue Reading →
(Reuters) - Global competition for offshore wind power is so hot that licence auctions now resemble the oil and gas competitions of just a few years ago, and some of the names are familiar too as global oil majors move aggressively into renewable energy. The drive among top fossil fuel producers to make fast inroads... Continue Reading →
