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June 1 (OE) Vantage Drilling has entered into a merger agreement under which Norway-based Eldorado Drilling will acquire the offshore drilling contractor in a transaction valuing the company's equity at approximately $257.6 million. Under the agreement, Vantage shareholders will receive $19.00 per share in cash. The transaction has been unanimously approved by Vantage's board of... Continue Reading →
May 30 (cleantechnica.com) Beginning in the early 2000’s, US taxpayers devoted many millions of dollars to support new floating wind turbine technology, enabling many more gigawatts of clean power to be harvested from offshore sites. Too bad all that blood, sweat, and tears went to waste after US President Donald Trump blew up the domestic offshore... Continue Reading →
May 30 (Reuters) - Guyana was already the world’s fastest growing economy before the U.S.-Israeli war on Iran drove up oil prices. Now, the tiny Caribbean nation of nearly 1 million people will reap an even bigger bonanza as the conflict reshapes global energy markets. The war that caused one of the largest energy disruptions... Continue Reading →
May 31 (World Oil) – ExxonMobil and ConocoPhillips are pushing for durable contract terms and a way to resolve billions of dollars owed to them as they consider re-entering Venezuela after exiting the country two decades ago. Both companies are in active negotiations with President Delcy Rodríguez’s government about tapping Venezuela’s vast oil reserves. While they’ve recently said Venezuela has... Continue Reading →
May 29 (OE) Oceanic Wind Energy and Ming Yang Smart Energy have signed a memorandum of understanding (MoU) to evaluate a strategic investment partnership for the development of an offshore wind project in the Hecate Strait off the northwest coast of British Columbia. The project is being advanced by Coast Tsimshian Enterprises (CTE) and Oceanic... Continue Reading →
May 28 (oilprice.com) TotalEnergies has applied for authorization of France's biggest renewables project, a 1.5-GW offshore wind project off Normandy, which is estimated to cost $5.2 billion, the French supermajor said on Thursday. Eight months after the French government awarded the project to TotalEnergies, the group's wholly-owned project company Centre Manche Energies has officially applied for the... Continue Reading →
May 28 (OE) TouchWind has installed its floating wind turbine prototype at Fieldlab Green Economy Westvoorne in the Netherlands, moving the POWER project into the in-water testing phase. The POWER project, short for ‘POsitive Wake Effects of turbines with tilted Rotors’, is studying how turbines with tilted rotors can deflect wakes and access higher-energy wind... Continue Reading →
My 28 (Reuters) Malaysia's oil and gas producer Petronas is exploring for oil at offshore Block 52 in Suriname, which was declared commercially viable for the development of natural gas late last year following large discoveries in the area, the managing director of state company Staatsolie said on Wednesday. "We hope also to somewhere in... Continue Reading →
May 27 (splash) Major offshore wind markets in the UK, Europe, and APAC, excluding mainland China, are tightening their policy frameworks to support project execution, creating a more stable backdrop than the US, where regulatory uncertainty continues to weigh on market momentum. According to London-based energy market research firm Westwood, marketed utilisation for wind turbine... Continue Reading →
May 26 (oilnow.gy) Guyana is seen as a more attractive oil investment destination as Venezuela works through a sovereign debt restructuring process that analysts say could take years to complete, according to an S&P Global analysis published on May 20. The report examined Venezuela’s plans to restructure sovereign debt and obligations tied to state oil... Continue Reading →
Brazil Energy Insight 