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(Reuters) Guyana Vice President Bharrat Jagdeo told Reuters the country plans to take back 20% of the giant Stabroek oil block that has been responsible for a series of massive discoveries from a consortium led by Exxon Mobil Corp., and remarket it by next year. More than 11 billion barrels of oil and gas found... Continue Reading →
(Bloomberg) -- Annand Jagesar, the managing director of the state-owned oil company of Suriname, is a man in a hurry. He’s racing against time, nature and Guyana, the neighboring country that enviably discovered a massive offshore oil field in 2015. Jagesar believes Suriname, the former Dutch colony on South America’s northeastern coast (population about 620,000),... Continue Reading →
(OWB) IberBlue Wind, the joint venture created to promote floating offshore wind farms in the Iberian Peninsula, has revealed its first project for Portugal – a floating offshore wind farm off the coast of Figueira da Foz. Called Botafogo, in honour of the Portuguese galleon that was built in the 16th century and became known... Continue Reading →
(Reuters) - Norway's Equinor (EQNR.OL) and German energy group EnBW (EBKG.DE) plan to jointly develop offshore wind farms in Germany, the two companies announced on Friday. Germany, which seeks to cut its reliance on fossil fuel, in November raised its national renewable energy target to 80% of power generation by 2030, and aims to accelerate onshore wind installations to over 12 gigawatt (GW) per year... Continue Reading →
(Reuters) Companies working on a $300 million logistics facility in Guyana that will support offshore oil operations said on Wednesday the shore base will help reduce shipping costs for supplies by as much as 12% by allowing larger supply vessels to dock. A consortium consisting of U.S. companies Exxon Mobil Corp and Hess Corp and... Continue Reading →
(Reuters) - Guyana's government is forecasting the nascent oil producer's economy, which has recently been among the world's fastest-growing, will expand by at least 25% per year in the next three to four years, Finance Minister Ashni Singh said on Thursday. Since oil production was inaugurated in 2019 by a consortium led by U.S. major... Continue Reading →
The National Petroleum Agency (ANP) recently approved the sale of Petrobras' stake in the Capixaba Norte Cluster to Seacrest Petróleo. As a reminder, the transaction was announced in February 2022, for a total of US$ 544 million. The Capixaba Norte Cluster comprises four onshore fields: Cancã, Fazenda Alegre, Fazenda São Rafael and Fazenda Santa Luzia.... Continue Reading →
(TXF) Delays and project cost overruns from the pandemic have meant lenders and sponsors of the Yunlin offshore wind farm in Taiwan are scrambling to remedy the project’s financial woes. ECAs may push out the tenor envelope to ease the pressure - but concrete solutions are yet to be realized. The fledgling Taiwanese offshore wind... Continue Reading →
(OE) TotalEnergies and Corio Generation have signed a joint venture partnership to develop the Formosa 3 offshore wind farms in Taiwan. Corio will remain the majority shareholder and lead developer with 50% plus 10 shares overall in project. The announcement comes after Taiwan’s Bureau of Energy confirmed in late December 2022 that Formosa 3’s Haiding... Continue Reading →
(Reuters) - Vietnam may not have a legal framework to regulate offshore wind farms until next year, a European Union business representative said on Thursday, a delay that could stall billions of dollars of foreign investment in the sector. Vietnam has big offshore wind power potential given the strong winds and shallow waters near coastal... Continue Reading →
Brazil Energy Insight 